Aurcana Corporation (AUN.V: TSX-V) (AUNFF: OTCQX) is a silver production company with silver mines in Mexico and Texas. President and CEO of Aurcana Corp., Lenic Rodriguez, took time to speak with SNNLive for an update at the San Francisco Hard Assets 2011.
Firstly, he states that, “the company is moving forward in all its properties”, where, “La Negra mine will have an installed capacity of 2500 tons/pay by March“, and “Shafter will also have an installed mill of 2500 tons/day early next year.” At this rate, Lenic claims that, “this allows us to become a mid-tier silver producer in 2012 and organically growth into a major silver producer in 2013″. Aurcana also completed major financing, which “closed for $34.5 million…most of it was institutionally placed with major financing houses in Canada”.
Mr. Rodriguez also goes on to say that, “we are going to making about $25 million from mining operations in La Negra alone, and north of $100 million next year with both mines operating at not yet full capacity”. Since speaking with Mr. Rodriguez, Aurcana discovered new Silver mineralization at 1920 meters at the La Negra Mine located in the Querataro State in Mexico, according to their most recent press release. For more information about Aurcana, check out their website. Here is an SNNLive Update with Lenic Rodriguez, CEO of Aurcana Corporation.
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