#ExploringMining #Podcast Episode 132- #Mining #Stocks News - Aurcana Silver Corporation (TSXV: $AUN.V) (OTC: $AUNFF) President and CEO Discusses Current Properties and Future of #Silver; @AurcanaC
Point Roberts WA, Delta BC, January11, 2021 Investorideas.com, a global investor news source covering
mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE,
ASX, NASDAQ, NYSE companies plus
interviews with CEO's and leading experts.
Investor Ideas talks to Mr. Kevin Cameron Drover, President, CEO &
Chairman of Aurcana
Silver Corporation (TSXV: AUN; OTC: AUNFF).
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/010821-AUN-Interview.mp3
Read this in full at https://www.investorideas.com/news/2021/exploring-mining/01111AUN-CEO-Interview.asp
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Drover discusses the
Company’s two properties in the United States; Revenue Mine, in Colorado and
the Shafter-Presidio Silver Project in Texas s well as the future of
silver.
Drover told Investor Ideas, “The
project that we've got the Revenue Mine;
it's a stand-alone project. It speaks
for itself. It’s going to generate a lot
of cash.”
Continued:
“We've been able to raise some money during 2020 and late 2019 that put us on
the road to construction. More recently, we've been able to close a $28 million
debt facility. That fully funds us through construction. So 2020, although it
was a pretty bad year from the pandemic perspective and the effects that it had
on business in general, it was a good year for us. We were able to raise capital and had the wind
in our sails with the silver price. So right now we've got that $28 million
facility in place. We were sitting with about $32 million in the bank at the
moment. We purchased most of our long
lead time items. We have about 80 people working at the site. So, we're in a
very good position all-in-all.”
Continued:
“So right now, we are forecasting September positive cash flow. We are a very
high grade mine at 37 ounces per ton average silver equivalent So looking
forward, given the current silver prices, where it sits right now, we're
looking at a very positive next few years of operations. We feel we're in a
really good place. But, you know, we have to take one task at a time. First
thing is that we have to get our construction finished and then get ourselves
into production.”
Looking at
some of the analysts bullish predictions for silver for 2021, he said, “Well,
you know, we all hope for $30 plus silver. I really can't predict the future but we built
all of our economics for this project based on $18.50 silver.”
ABOUT AURCANA SILVER CORPORATION http://www.aurcana.com/
Aurcana Silver Corporation owns the Revenue Mine, in
Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary
mineral resource at both the Shafter-Presidio Project and the Revenue Mine is
silver. Both are fully permitted for production.
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