Aurcana is the next mid-tier Silver Producer

November 14, 2011

Al sits down at the 2011 Silver Summit with Lenic Rodriguez, President of Aurcana Corp., and discusses the companies recent activity and progress in moving towards becoming a significant producer of Silver.

Aurcana Corporation is a Canadian junior mining company listed on the TSX Venture Exchange, symbol AUN (TSX.V – AUN) and the OTCQX, symbol AUNFF. The company owns 100% of the Shafter silver mine and 92% of the La Negra silver-copper-lead-zinc mine.

The Shafter silver mine, located in Presidio County, S.W. Texas, has a NI 43-101 silver resource of 24.6 million ounces Measured and Indicated (2,900,000 tons @ 8.48 opt), 22.8 million ounces Inferred (2,167,000 @ 10.52 opt) and a pre-feasibility completed. Production is forecast at 3.8 million ounces silver recovered once the mine and mill are operating at capacity beginning in mid 2012. Aurcana is on track to complete construction on the silver mine in May, 2012. Once complete Shafter will be the 2nd largest producing pure silver mine in the U.S. and will supply 10% of all U.S. silver.

In 2010 La Negra, located in Queretaro State, Mexico, was expanded to mill 1,500 tonnes per day, in early 2012 the capacity will increase to 2000 tonnes per day. La Negra has identified 28 ore bodies, only 3 are currently being mined.

The completed development of the company’s new silver mine at Shafter will advance Aurcana from a producing silver company to a mid-tier silver producer beginning in mid 2012.

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    Nov 14, 2011 14:56 PM

    Sounds like this company is headed in the right direction.

      Nov 15, 2011 15:45 PM

      HI Matt R,

      I would agree.


      Big Al

    Nov 14, 2011 14:28 PM

    THIS POST IS FAR OFF TOPIC — I thought that you will all find this interview very interesting — although I am not a big Alex Jones fan, this is a great interview (Alex is not even in it — thank goodness — it is very interesting to say the least).


    Nov 14, 2011 14:47 PM

    Lots of interesting small companys looking for gold and silver. I am also in several great oil producers including Kodiak [KOG] Eog resource [EOG] . and Apache [APA], looking for 100 dollar oil by Xmas.

      Nov 15, 2011 15:48 AM

      I’ve done well with KOG myself.

      Nov 15, 2011 15:46 PM

      HI Scott,

      How about $100 oil today? ($99.59 as I write this!)

      Big Al

    Nov 15, 2011 15:52 AM

    Many thanks Big AL.

    Only First Majestic and SiverCorp will produce more Ag Eq per annum than AUN.

    Not sure where oil co. recommendations and Alex Jones fit in to this interview,however.

      Nov 15, 2011 15:00 AM


      Alex Jones does not fit into the conversation, hence me stressing “this post is far off topic”. I thought that the average person would see that for what it is — an off topic post. I guess not. The reason I posted this is that I thought others may find it interesting and since there is no place to post miscellaneous blogs, I decided to place it here.

    Nov 15, 2011 15:57 AM

    Thanks for the interview update. It’s unfortunate that the interview is over 1 month old. Would have been interesting to get comments on the $25M private placement and the Sprout situation.

      Nov 15, 2011 15:49 PM

      HI Don,

      We did have prior comments regarding the Sprot situation. (Last Sunday)

      Also, we elected to hold off until the Sprot lawsuit was either dismissed or settled. As you know it was dismissed.


      Big Al

    Nov 15, 2011 15:46 AM

    SIlver Summit was almost a month ago, not over a month. Sorry for the timing issue. I listened to the interview again and I find it strange that an additional capital comment was not mentioned. A $25M shortfall isn’t small potatoes.

      Nov 15, 2011 15:51 PM

      HI Don,

      No it is not small potatoes. That particular financing has not closed yet and the information as outlined in the press release of 11/8 was not for dissemination in the U.S.

      What can I say,

      Big Al

    Nov 15, 2011 15:06 PM

    Big Al –
    I think Don’s observations are right on the money. Aurcana seems to be on a path of substantial income under Lenic’s leadership. However, earnings per share does not grow in a meaningful way if the number of shares keeps growing. I believe that Aurcana has close to 500 million shares fully diluted. If Lenic continues to dilute with more capital raises or more granting of options to management, the Company’s share price will be going nowhere.

      Nov 15, 2011 15:50 PM

      HI Going Down Fast,

      I agree at this point and I will discuss it with Lenic and report back.

      Thanks for your comment,

      Big Al

    Nov 16, 2011 16:22 AM

    Big Al,
    I appreciate the fact that you have brought the Aurcana story to shareholders and public alike since Lenic assumed the helm of the company.
    As LR stated weeks ago to you on KER that AUN are now self funding and a substantial dilution of shareholder equity directly followed it would seem reasonable that LR have an opportunity to explain himself.
    Again,my than

    Nov 16, 2011 16:23 AM

    Oct. 22,2011
    : “AUN is now self funding?” Al Korelin
    : “Yes.” Lenic Rodiguez

    Nov 18, 2011 18:32 AM

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