Aurcana Corporation (TSX: V.AUN, Stock Forum) late Thursday reported that total silver ounces equivalent production for 2012 surged 45% to 2,523,441 from 1,741,705 ounces produced in 2011, this according to a company news release.
Total cash cost per silver ounce net of by-products for 2012 fell 16% to $6.43 from $7.63 in 2011.
Total revenue for the year rose 20% to $56.9 million. Net income in 2012 was $10 million, up 30% from $7.7 million in 2011.
"Despite a slower than expected startup at Shafter and with an increase in production at La Negra, Aurcana is now in a position to grow organically for a few years, with just the support of our budgeted sustaining capital. Based on continued growth, the company remains strategically positioned to become a senior silver producer," said Aurcanas President and CEO Lenic Rodriguez.