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Aurcana Silver Corp V.AUN.H

Aurcana Silver Corporation is a Canada-based company, which is engaged in the exploration, development, and operation of natural resource properties. The Company’s development properties are the Revenue-Virginius mine (the Revenue-Virginius mine or Ouray), located in Ouray Colorado and held through the Company’s 100% owned United States subsidiary, Ouray Silver Mines, Inc. (OSMI) and the Shafter silver property (the Shafter Silver Project or Shafter), located in Presidio County, Texas and held Aurcana Silver Corporation. The Revenue-Virginius mine is located in southwestern Colorado about 5.5 miles southwest of the town of Ouray. Access to the mine site is via County Road 361. The Shafter Silver Project, which is 375 miles southeast of El Paso, in Presidio County, southwest Texas, within a historic mining district.


TSXV:AUN.H - Post by User

Bullboard Posts
Comment by zzthnxon Feb 12, 2013 10:50pm
217 Views
Post# 20978604

RE: AUN share structure vs. FR

RE: AUN share structure vs. FR

"Many people argue that reverse splits are bad things.  In our situation, our shares outstanding are a problem, and a reverse split is a solution that, given my previous comparison, would not put us in a bad place."

You know, Kbbinvest, if it weren't for having watched AUN management's actions over the last six or seven years, I might somewhat agree with your statement. However, based on AUN's proclivity to print shares first and ask questions later, my biggest fear with AUN at this point is that they're going to go after another acquisition, print another 200 or 300 millions shares at 80 cents with another 100 million or so warrants thrown in at a dollar and THEN roll us back 10 for 1 or something like that. Sorry to say it, but that wouldn't surprise me one bit, and this is coming from someone who has about 60k shares of AUN in my portfolio. Like I've said before, I'm holding my nose and just hoping that the sheer cash flow coming out of Shafter and La Negra, hopefully in the not too distant future, is enough to somewhat overcome the effects of the accretive dilution that the longer term shareholders have been subjected to.

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