Lenic Rodriguez On Future Silver Production From Shafter Mine

May 23, 2012

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Al sits down with Lenic Rodriguez, President of Aurcana Corp., and discusses how Lenic got involved with the company and the massive future silver production that will come out of the Texas and mexico mines.

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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    May 23, 2012 23:01 AM

    Aurcana has a great story but investors are going to sell this stock along with everything else if the TSX.V continues to fall.

    The silver industry has shot themselves in the foot by overpromising and underdelivering. Even Aurcana has to overcome this from their past before they can split from the pack but not until the whole industry starts to come back.


      May 23, 2012 23:15 AM

      Morning Dan,

      We are in very difficult times now as you correctly have pointed out.

      The question is how long will it take for this trend to reverse itself?

      Look for a Daily Editorial on this subject later this morning.


      Big Al

        May 23, 2012 23:42 AM

        Hi Al,

        Aurcana’s chart is looking good but I can’t figure out why HMD (Horizon Base Metals Down) is going up when its RSI spiked to 88 and is now at 78. Investors are withdrawing or turning bearish at a bearish spike. I am hanging on to my AUN shares but not without a little trepidation. Maybe this is the flush out of the weak hands now.


          May 23, 2012 23:01 AM

          Morning Dan,

          Who the heck knows at this point. We are in very confusing times!

          Big Al

    May 23, 2012 23:17 AM

    Not sure what you are referring to,Dan when referring to the ‘silver industry’ and then Aurcana,specifically.
    Lenic has some explaining to do but not on the progress or production at either mine.

      May 23, 2012 23:37 AM

      Hi Matt,

      I went back about 4 years and looked at their balance and income statements and the “past” would refer to the 2- 4 year ago period. Lately they look great but could be one of the babies thrown out with the bath water in another down wave for the TSX.V.


      May 23, 2012 23:55 AM

      Hi Matt,

      I was actually referring to both Aurcana and the silver industry.

      Please be more specific re: Lenic and I will pursue it.


      Big Al

    May 23, 2012 23:54 AM

    Hi Dan.

    Lenic decided to grow AUN with dilution on the backs of those that were the original shareholders.
    However,Lenic is a career banker so he took the route he knew best.
    As AUN should be a 9.3-10 million oz producer in early 2013 (with the infrastructure already paid for and in place at both mines) and this further growth placing AUN into ‘major’ producer category status I think AUN is a baby that continues to avoid the recent ‘Venture bath’.
    Major silver producers for pennies are not the ‘dime a dozen’ variety on the Venture.

      May 23, 2012 23:00 AM

      Hi again Matt,

      I am still in the Aurcana story because I do think they can break from the pack but the market should be forshadowing their potential. Time will tell.


        May 23, 2012 23:02 AM

        Morning Matt and Dan,

        I agree with both of you. I personally am very optimistic regarding AUN.


        Big Al

          May 23, 2012 23:06 AM

          I think companies “like” Aurcana are where you want to be when this thing turns around sooner rather than later. BTW. COAST TO COAST AM with George Noory had a four hour special on the economy, which included Peter Schiff and Lindsey Williams – pretty informative….
          All the best,

    May 23, 2012 23:12 AM

    Hi Marc,

    I used to work night shifts and listen to Art and George. I remember how freaked out I could get on their Friday night ghost stories when I was doing night deliveries in rural Alberta. 10 million listeners on that program if I recall. It would take 3 and a half hours just for Lindsey Williams to tell you that it was dark outside.


      May 23, 2012 23:13 AM

      Yeah, absolutely…I take Williams with a grain of salt. Why would the elitists let this guy spill all the beans and make money off it. Like I said in the past, all my investment decisions are based on macro-environmental factors that are laid out before me. I am not going to let someone scare me into some particular trade. Running scared is a recipe for disaster as far as I am concerned!
      BTW, doing a “rural’ job and listening to some of the stuff on CTOCAM would freak me out too…

    May 23, 2012 23:17 AM

    I do not think the drug dealers are interested in silver yet….they can grow weed, without digging a hole in the ground., …plus, the mines are fixed in location,and require a lot of plant(not weed) and equipment Weed, can be grown anywhere any time…….and the dealers are mobile….not fixed in location…except for territory….
    You may wonder how I came upon this information…..but, I told Irish I would not tell anyone….so , I am not telling anyone….

      May 23, 2012 23:31 PM

      Let me guess, In the Box. You saw the movie with the English comedian (Sasha Cohan)!

      Big Al

    May 23, 2012 23:49 PM

    Great interview Al but god that tie!!!! looks like you cut yourself shaving