Silver Companies Aurcana Corporation
Last Updated on Friday, 10 February 2012 09:04 Written by Brian Boutilier Friday, 10 February 2012 09:03
Mining Companies - Silver Companies
Junior Producer: Ag
Aurcana Corporation is a Canadian junior mining company that is striving toward mid-tier status. The Company owns 92% of the operating La Negra silver-copper-lead-zinc operation. The La Negra Mill, located in Queretaro State, Mexico, was expanded to 2000 tonnes per day, It produced over 1 million ounces Ag in 2011. Exploration drilling at La Negra has identified 28 ore bodies, 3 of which are currently being mined.
The company wholly owns the Shafter silver mine/mill (under construction), which are located in Presidio County, S.W. Texas. The operation is expected to reach its 1500 tpd capacity beginning in mid 2012. Shafter has an 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 for the first two years. The Company is listed on the TSX Venture Exchange under (AUN) and the OTCQX, under (AUNFF).
.55-1.10 trading on 8 Feb 2012 @ .84
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Q3 2011
Cash and Equivalents 8.1M
Total assets 14M
ST Liabilities 7M
Revenue 12M
Profit 6.8M
Cash Burn Rate 2.4M
Quarterly gain (.01)
Projects
The La Negra mine was discovered and developed by Industriales Peñoles S.A. de C.V. The mine commenced production in 1970 and produced until the mine was put on care and maintenance in 2000.
In 2006: The entire three stage crushing circuit has been refurbished and the ball mill is fully operational. New floatation tanks have been delivered and were in the process of being installed. Foundations for new 30 meter diameter thickener tanks for both copper and zinc were constructed. Reyna Mining and Engineering, who are oversaw the refurbishment of the mine.
La Negra is on track to complete the ongoing mill upgrade to 2,500 tpd in Q1 2012, a 60% increase from the current milling capacity. This added capacity will allow completion of the 2012 mine plan of 2,000 tonnes per day and its planned increased output for 2013 without further capital expenditures.
La Negra Highlights
Aurcana continues to produce record results. Q4, 2011 silver production was the largest silver volume in Aurcana history producing 265,230 ounces of silver.
28.3% increase in silver equivalent produced to 1,737,203 ounces in 2011 compared to 1,354,315 ounces in 2010.
20.2% increase in silver equivalent produced to 463,843 (Oz Ag Eq) in Q4, 2011 compared to 385,942 in Q4, 2010.
52% increase in mineralized materials stockpiled from beginning to end of 2011, with the total stockpile now standing at 101,038 tonnes.
The 100% owned Shafter mine is planned for silver production start up at 3.9 million ounces in each of the first two years. The mine contains an estimated measured and indicated resource of 24,600,000 ounces of silver and an inferred resource of 22,800,000 ounces of silver. Aurcana has fully committed its proven construction and operating team to commence operations at the Shafter mine.
With a relatively low capital cost, the Shafter mine represents a low-risk project. Due to the advanced stage of development at site, the project can be rapidly moved to production. The deposit and contained resources are well identified and quantified. Metallurgical testing indicates that a high recovery is probable.
Updates: http://www.aurcana.com/s/PhotoGallery.asp
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Lenic Rodriguez MA President, CEO and Director |
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Mr. Rodriguez is a Mexican businessman residing in Vancouver. He is involved in International Finance and was instrumental from day one on the acquisition and financing of the La Negra mine for Aurcana. He is a Magna Cum Laude Honors Business graduate from one of Mexico's top Universities, Universidad IberoAmericana. Private. Jesuit. He holds a Masters Degree in Science and a BA in Business Administration. He has over 15 years experience in top management with one of Mexico's 10 largest corporations. |
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Andy Nichols PEng Vice President, Operations |
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Andy Nichols, a graduate of Camborne School of Mines, has over 35 years of underground mining experience in Canada, Africa, Asia and Latin America, including Cominco Ltd.'s Sullivan Mine, Breakwater's El Mochito Mine and Denison's Elliot Lake Mine. He has worked in mining operations and in management, supervision, project and engineering roles. Most recently Mr. Nichols was Chief Mining Engineer at Wardrop Engineering, where he was responsible for feasibility studies and detailed engineering that included mine design, stoping method determination, scheduling, cost modelling and financial evaluations for underground and open pit mines. |
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Nils von Fersen PGeo Vice President, Exploration |
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Nils von Fersen is a Professional Geologist with over 30 years of expertise in conducting and managing mineral exploration for base and precious metals in Canada, Chile, Mexico and Guatemala for major and junior mining companies. Mr. von Fersen spent 18 years with Kidd Creek Mines and Falconbridge in exploration and project evaluation in western Canada and internationally, including the exploration and feasibility phases of the world class Collahuasi porphyry copper deposit in Chile. Since 1999 Mr. von Fersen has been a consulting geologist with a focus on projects in B.C., Mexico and Central America. |
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Salvador Huerta, BA Accounting and Administration Chief Financial Officer |
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Mr. Salvador Huerta has over 25 years experience as a CFO for international Companies in Mexico. Extensive knowledge in business, finances, manufacturing, planning, treasury and accounting, International joint ventures, mergers and acquisitions. Fluent in English and Spanish. |
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Terese J. Gieselman Corporate Secretary/Treasurer |
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Ms. Gieselman has 22 years experience in the resource industry with several companies listed on the TSX,TSX-VE, OTCBB, NASDAQ and AMEX, as chief financial officer, treasurer and corporate secretary. Her experience includes an extensive background in financings, treasury, international corporate structures, financial reporting and compliance for Canada, the US, Mexico, Peru, Chile and Brazil. |
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Officers & Directors |
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Lenic Rodriguez President, CEO and Director Andy Nichols Vice President, Operations Nils von Fersen Vice President, Exploration Salvador Huerta Chief Financial Officer Terese J. Gieselman Corporate Secretary / Treasurer Adrian Aguirre Director Paul Matysek Director Bob Tweedy Director Ken Collison Director
Technical Advisors: Jerry Blackwell Dr. Peter Megaw |
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Corporate Presentation
http://www.aurcana.com/s/Presentations.asp
Beacon Rock Analyst article
http://www.aurcana.com/i/pdf/Aurcana-BeaconRock.pdf
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Aurcana Reports: Record Silver Production at La Negra. |
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written by CEO Interview, March 07, 2012
http://www.reportonmining.com/home.html
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written by Brian Boutilier, February 21, 2012
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written by Earl, February 21, 2012
Yes Endeavour. The interview with the CEO is on Motley Fool. Chris Barker is the only writer I read fro them. He seems sincere, enthusiastic and you can add a little glitter. But I find he's another source of input on the sector. The comments from other readers are really interesting. The articles come up on your yahoo stock watch lists. It's a short read.
Appreciate your response as always-
Thank You
Earl
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written by Brian Boutilier, February 21, 2012
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written by Brian Boutilier, February 18, 2012
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written by Earl, February 17, 2012
I recently read Chris Barkers interview with the CEO. They mention the company got out of the SLW stream. SLW holds 10 million shares of the company and very happy with the deal. The focus is increase in production "ball mill" capacity 2500 ton and from what I took from it was they have two.
They were talking /comparing the capacity/output to EYK, with less shares.
What's your take on the company's on a 1 to 2 year growth prospects.
Thank You
Earl
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As a new shareholder myself, I was familiar with some of the present numbers, but didn't know the history here.
In particular, exiting their silver-stream agreement with Silver Wheaton and putting a new management team in charge of operations at La Negra are both HUGE changes - which seem to be paying direct and immediate dividends.
Add that to the expected growth profile on the production side, and it's hard not to get excited about where this one is going as soon as the market turns higher...