Aurcana Silver Corp V.AUN.H

Metals & Mining Silver

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.

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Aurcana Silver Corp

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Comment by Baer1on Jun 22, 2014 8:10pm

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Post# 22684354

RE:RE:RE:RE:RE:RE:RE:RE:RE:Aurcana Closes $5,060,000 Equity Financing

Fair enough, they wrote down Shafter. The whole thing? It seems to me that 134M was the assessed value of the property, I could be wrong but that number rings a bell. What then about the equipment, etc..? Would they not write that down as well for a current tax advantage, and to reduce book costs if they fire it up again? Perhaps they can't under C&M... just musing.

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