Additional Information
Market: TSX-V
Sector: General Mining
EPIC: AUN
Latest Price: 0.58  (0,00%)
52-week High: 3.09
52-week Low: 0.49
Market Cap: 49.09M
1 year chart
1 day chart

Aurcana Corporation (Aurcana) is a Canada-based company. The Company is engaged in the business of mining, exploration and development of mineral properties.

Aurcana to commission processing plant at Shafter mine

30th Mar 2012, 11:22 am by Brad Lemaire
Aurcana to commission processing plant at Shafter mine

Aurcana Corp. (CVE:AUN) reported late Thursday it plans to commission a processing plant at its Shafter mine and also finished the La Negra mine expansion.

Two months ahead of schedule, the Shafter mine has entered the final phase of construction and is under budget.

The silver explorer said commissioning of the processing plant is slated for April 1. It expects ramp up will take up to 90 days to
reach its 1,500 tonnes per day capacity.

Power will be supplied initially by generators and power station completion is expected by May 2012, the company added.

The Shafter silver mine rests in Presidio County, Southwest Texas. It has an NI 43-101 silver resource of 24.6 million ounces in the measured and indicated category, with 22.8 million ounces inferred. Production in the first year is forecast at 3.9 million ounces silver recovered.

In addition, the La Negra mine wrapped up its second consecutive mine expansion from 1,500 tonnes a day to 2,000 tonnes a day, which stayed on budget for a cost of $4.5 million.

Production is expected to jump to 176,000 tonnes from 130,500 tonnes in the second quarter of 2012, Aurcana said.

"We are pleased to be two months ahead of schedule and an estimated $1 million below budget at Shafter Mine," Aurcana chief executive Lenic Rodriguez said.

"With the completion of the expansion at La Negra to 2,000 tpd, Aurcana is on target to become a mid-tier silver producer and
anticipates 12 month production of 3.8 million ounces of gold from Shafter and 1.3 million ounces gold from La Negra."

The company’s share price rose nearly seven percent climbing to 92 cents each in trade on Toronto’s junior venture exchange.

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here