Aurcana Silver Corp (AUNFF)

[basserdan]

From the Aurcana board at SH....

Posted by TechOne
May 15, 2015 - 03:04 PM

RE:AGM
It was a small affair..

Only 3 share holders, that includes me, attended.. Of the remaining two share holders, 1 was a friend, a new share holder, that I dragged with me.. So 1 remaining share holder is a long timer, used to post here, with a lot of shares..

After formal part of the meeting, the presentation I have posted was given by the CEO..

1.. Emphasis on first quarter is a transition quarter based on the new mines plan..
2.. Drilling targets are right next to current mining activity so low cost effort..
3.. They are still negotiating with the lender, who are very supportive.. Another 30-60 days before they will announce the results of this oining going discussion..
4.. They still want to reduce the AISC so working on that..
5.. Now that they have a good handle or La Negra with some discipline, a new mine plan, reduced work force etc.. they feel more comfortable with operations there..
6.. Because of progress mentioned in 5, they may take a look at Shafter to see what they can achieve there even though the mine is still under care and mantenance..

My take after all of this was, ok.. the company is not at risk of going under or anything dire.. It is now being run more professionally.. Restructing of debt, should it happen, will instill confidence.. and more then likely, if I manage to raise some cash, I will add shares since my cost is too high.. Finally, it is a toss up if and when I will be able to recover my investment because I think share price can go to $1 to 1.50 in a year or two, that is still lower then my original cost, pre reverse split, unless I manage to bring it down..

FWIW

http://www.stockhouse.com/companies/bullboard/v.aun/aurcana-corporation#EK0xOYKgHocSL4cg.99
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Posted by checkmate28
May 15, 2015 - 05:22 PM

RE:RE:AGM
Tech Thanks for the update. I added in mid April after gathering the same info from IR. I think new terms on the loan are coming. That will take off the chokehold, allowing AUN to further drill or as you said have a look at Shafter. I don't agree with those here, that they should sell it. Too much cash invested and it will be a nice addition when price ov silver moves up.

Were looking at about $35 mill for the loan and a MC of $22 M for an EV of $57 Mil. Thats puts a 4 million ounce cash flowing producer at a pretty good value and thats why I bought the shares. That and the fact that Lenic is not here to botch things up.

http://www.stockhouse.com/companies/bullboard/v.aun/aurcana-corporation#Z48gjEB4RhxLUwSu.99