Aurcana Silver Corp V.AUN.H

Liquidation?

[Rockormen]

Wondering about the risk of liquidation/bankruptcy given these current issues... If they can avoid it I suppose there is some hope for the future?

[NinetyFourOctan]

I was so hopeful for a deal....   My shares were in Canadian Market too so got double burned due to the long weekend where I could not down-average on Friday. See you on the next one.  There is no hope now, with Aurcana's debt, and RV gone, Aurcana has no choice but to liquidate any remaining assets to cover debt.  We be at zero soon, if not by the end of the month. Yet

[Rockormen]

But if they put the rv mine as security in their loan deal with mercuria the mine should be enough to pay their debt no?

[NinetyFourOctan]

With RV in Receivership Aurcana still has several million in loans other then what the owe to Mercuria they need to cover but can't now.  It would not surprise me now if the other loan holders go after Shafter and put it into receivership as well.  However even if that does not happen I now can't see how Aurcana can stay out of Bankruptcy now. I had hope while Mercuria was

[65bear]

Very sad indeed...but even sadder is,U still believe silver has a bright future 5 or 10 years from now maybe