Aurcana Silver – Construction and exploration updates from the Revenue Virginius Mine
Kevin Drover, President and CEO of Aurcana Silver (TSX.V:AUN – OTCQX:AUNFF) joins me to update us on the construction progress and exploration plans at the Revenue Virginius Project, in Colorado. We discuss time frame for the ore to enter the mill and and ramp up plans through 2022. On the exploration front we touch on the timing of the start of drilling and the many targets to be tested.
Please email me with any questions for Kevin regarding the plans at Aurcana. My email address is Fleck@kereport.com.
Click here to read over the full news release on the Aurcana website.
9M Silver Ounces Per Year Production Three Years from Now with (AUN)(AUNFF) Aurcana Silver CEO Kevin Drover
MiningStockEducation – May 5, 2021
“Aurcana Silver Corp. has 100% ownership of the world’s highest-grade silver mine (P&P): the Revenue-Virginius mine in Ouray, Colorado, USA. This fully-permitted mine will also be one of the lowest-cost silver producers in the world at only US$8/oz Ag (AISC) after byproduct credits. In this interview CEO Kevin Drover provides a construction update and production goals for the next three years. Silver ore will be fed into the mill starting in about two months and the company will be cashflow positive shortly thereafter. In the first full year of production Aurcana’s conservative estimate of after-tax cashflow is US$50M at $26/oz silver Kevin said. However, he expects to beat that low estimate. Aurcana is also moving the fully-permitted Shafter silver mine in Texas back towards production. Thus, Kevin said in three years from now between the RV mine and the Shafter mine, Aurcana should be producing around nine million silver ounces per year as a mid-tier silver producer.”
It’s nice to see Gold and Silver popping this morning.
Gold up to $1814
Silver up to $27.42
Looking good!
I thought the consensus from about 3-4 different technicians back in March was that Gold was going down in the low $1600’s or high $1500’s in April & May, and that Silver was going down to $22?
Do folks think we really may have double-bottomed in Gold in March and that this really is the beginning of the next impulse leg higher to challenge higher levels, or is this still the bump before the slump?
Is Silver going to keep chugging higher and possibly make it back up to test that $29-$30 resistance level again, or is this just a relief rally, where things will head back down again soon?
I’m not complaining about the higher PM prices, as a number of miners are ripping higher, and my account is at an all time high (again) today, but I’m still nervous and climbing the wall of worry with my fingers crossed… Ha!
Wow. It must be Silver day here at the KE Report. Excellon, Kuya, and now Aurcana.
That’s a nice batting order and solid group of companies working hard at the prize.
Ever Upward!