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They sold their only producing mine, so good luck with that. Far as I know, their only income stems from their oil and gas leases. No clue how this thing has gone up over the last 9 months but appears to be settling back.
Well folks, Im out. Cashed in today at a catastrophic loss. Decided it was better to take the tax write off and move on. With the company in default, selling off assets, little to no hope of paying its debts even under restructering, and a silver price that shows absolutely no sign of recovery, I would be utterly surprised if Aurcana has not filed Chapter 11 by this time next year. Any of you that are left.....good luck to you.
9 cents. Wow. Is this thing dead? Any hope of recovery?
Talks a good talk, but forgive me if I don't have much confidence with a stock price of 20 freaking cents. TWENTY! You know what my cost basis on this pile is? SEVEN BUCKS! On the bright side, if some day it goes to 5 or so, I can sell for a nice handful of coin and still use the loss as a tax right-off. /self
Cliffs Notes?
"Keep going up" ??? When did it start?!!? If you own miners, like I do, we are screwed until the price gets well above 20. You would have to ask JP when they plan on letting that happen. Those SOB's should all be in federal prison.
Wow, investors have really jumped at this news! LOL....God this stock sucks.
I was sincerely hoping for a take over bid from Hecla or Endeavor or someone.
Well its been a month - havent seen anything. More of Lenics BS is my guess.
I do not disagree with most of your accessments, however, an 8 dollar stock does not become a fifty cent stock on a bad economy / manipulated metals market alone. Thats a drop of about 93% for those of you keeping score at home. The other miners I own have obviously taken a pounding as well, however nothing even close to the extent that Aurcana has. 30-60% range has been pretty typical across my other holdings.
JP Morgan stands to shoulder some of the blame with their blatant market manipulation, aside from that gross mismanagement, lies, and deceit account for the rest of it. The R/S was a complete sham - criminal conduct in my opinion. The utter misrepresentation of the Shafter project also bordering on criminal conduct.
Only needs to go up by a factor of 10x for me to break even! POS stock.
Enitre management team at Aurcana should be thrown in jail. They have conned shareholders out of millions.
Cant blame you brother. Ive considered it myself, but at this point I think Ill just sit back and hope silver spot eventually starts jogging northward. It has to eventually....doesnt it? DOESNT IT?!?!?! Ahhhhhh.
Im glad I could help pay for his trip to Europe. Makes me feel all warm and tingly inside.
LOL, it would be fruitless to invest in ANY minor until the PM prices show some sign of recovery.
"Up" lol.....most of us need 7-8 bucks a share on this turd just to break even. At this rate, Silver is going to need to hit about 50/ounce to get there.
ok, but when will this "end to physical storage" occur?
There is one over-riding question that must be answered first, and its the only question that really matters. Where is the price of silver going and when? The implications are astronomical. You have seen the price impact on shares of the miners with the marginal rise in silver today. Imagine if we went back to 30 or even 50 bucks an ounce. On the flip side, what if silver went back to 15, 10, or God forbid even less per ounce. So until we know that, the rest is just about irrelevant.
TAX QUESTION! Anyone know, if I fill out a worthless stock form with my broker to have USOG removed, if I get a tax break for that? Is it the same as if I actually sold it at a loss? Anyone ever done this?
Got a lot of running to do just to get back to pre split values. Right now we are running at about a 25 cents equivalent (was around 55 cents at split). I have a 95 cents cost basis on this heap, so it would need to run up to 7.60 just for me to break even.
Right direction? Maybe. But we are still WAY below the pre-R/S SP and WAY WAY below where most of us bought in at. So Im a long way from singing their praises. And until JP decides to let the silver price adjust WAY upwards, there is only so much recovery the SP will make any time soon.
Also, share price is down to .25 equivalant, not .56.
No, symbol changed at the time of the R/S.
This is borderline criminal activity at this point. 1.91 the low so far today - we hit 1.30 BEFORE this bogus R/S. Stock has lost 55% since the split. Beyond words.....
Dont blame you. Im bitterly dissapointed in Aurcana. Ive lost so much its sickening.
Well this sucks worse than I thought it would. Basically half my shares have already vanished into thin air once you factor my cost basis in with the R/S and current share price. Could not have picked a worse time to do an R/S if you tried! I thought this stock was a homerun, and maybe some day it will be, but I sure have been bitten in the ass so far. Bitterly dissapointed in the management of this company.
R/S combined with plummeting silver price has murdered this stock. Someone correct me if I am incorrect but I believe the R/S will be finalized by the end of this month, at which time the share price will briefly be around 3 bucks and go down from there - meaning we will all essentially have had the vast majority of our shares stolen from us for no reason. I for one am VERY unhappy about this R/S as it could not have come at a worse time.
All I can say is WOW. 43 cents. Pretty soon we are going to need a 1 for 8 split just to get this pile over a dollar lol.
All well and good but the "physical shortage of silver" has been all the talk of the rumor mill for years now and nothing has ever come of it. So, JP will just continue to illegally manipulate the market while our morally bankrupt government does nothing about it. Such is the way of the entire stock market these days if you really want to be honest about it - the entire system is a complete scam run by the bankers.
You called it bro - the blatant manipulation is beating up all the minors and the spot price as well. Its criminal.
Theyve already lost 4 grand. Who stole from whom?
Well BELOW market value? Sadly, this turd is trading well under .79 right now.
Why has this "company" not been dissolved? I want to at least be able to use my losses as a tax writeoff. As it stands, I cant sell and I cant write it off. So Im just flat screwed all the way around.
One curious question. If Aurcana is so well off with such a promising future, why have there been no buyout or take over attempts at these price levels?
Because none of that is guaranteed. Lets say the split happens and the share price continues to slip lower? Well then all thats happened is you lost most of your shares. Its akin to stealing in my opinion. At least with a buy-back you have legitimately increased share value. With a split there are a lot of hopes, dreams, and maybes. Kind of like with Obama, and we all know how well thats working out. Thats just my take......well, not just mine obviously, based on the current tanking of the share price.
My sentiments exactly USS.
77 cents....wow, looks like investors are unimpressed with the R/S idea. Should have done a buy-back. Increase share holder value the honest way.
Does this company still exist? Why havent they filed bankruptcy and dissolved? At least that way I can get a tax writeoff for this BS. As it stands now, I cant even get a tax write off because i cant sell!!!!
No, I mean, when this thing takes off,I would rather have 10K shares at 30$ than 1k. Because eventually thats where I think we are going. 30K isnt much money, but 300K is.