Aurcana Silver Corp V.AUN.H

Just my 2 cents

[zzthnx]

I have a fairly long history with AUN. I first bought shares in 2005, went on the ride all the way up to $1.99 and then all the way back down to 8 cents in 2009. I continued to add shares and was a loyal shareholder. Surely with Shafter and improvments in efficiency at La Negra things would work out eventually and I would be rewarded for investing my hard earned money and sticking it out through thick and thin. Well, that almost happened. Things were improving, the stock price was slowly recovering from the massive 2008 selloff, and AUN was generating profits at La Negra. I was thinking that although it would take longer, we could finance construction at Shafter with cash flow from La Negra along with some financing. Well, before long we had several massively dilutive cheap financings (less than what the share price was at the time if I remember correctly) with gobs of millions of warrants attached as freebies. I believe the share float more than tripled. So, my take was that all of the longsuffering long term shareholders were completely thrown under the bus in favor of giving away much of the company to the big shots who could take down millions upon millions of cheap shares. My feeling then and now is that there was no need to get $40 million in funds all at once and dilute the heck out of the existing shareholders. at .31 and .40 cents. Do enough financing to fund Shafter construction as needed, but let the SP rise in the interim so that financings can be done at higher and higher levels and the new shares can be digested. IMO, we could be at 250 mil. shares outstanding now with a stock price closer to $2.00 than $1.00 and still be only months away from start-up at Shafter if things had been done differently. All IMO, zz