Aurcana Corp Stock Name - Aurcana Corp Symbol (US) - OTCPK:AUNFF Type - Silver Category - Development Share Price (US) - $0.23 FD Shares - 201M FD Mkt Cap (1/1/2020) - $46M
Aurcana Corp. is developing a silver project (Ouray) in Colorado. Plus, they have another silver mine (Shafter) on care and maintenance in Texas. Ouray looks very promising. It is a past producing mine that is permitted with 30 million oz. and very high grade (700 gpt). They need to raise about $35 million to restart the mine at about 2 million oz. annual production.
The risk is that they can't raise the capex. But they own the Shafter mine, which they could sell or use as collateral for a loan. I think Ouray will get built and soon. Shafter could also be restarted and has 18 million oz. (240 gpt). The capex to resume Shafter is about $20 million to produce about 1 to 1.5 million oz. annually.
I'm not sure why Aurcana is so cheap. Usually, when a stock is cheaper than it should be, there is a reason. But it has been trending in recent months. As a speculation stock, it looks pretty good.
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