LilNev2000's Blog : Aurcana Corporation Update

Aurcana Corporation has come out with a couple of press releases over the past 2 weeks that show the turnaround of the company.

On August 13th, Aurcana increased its interest in their La Negra project from 80% to 92%. Aurcana has also taken over control of the day-to-day operations of the La Negra mine which has significantly reduced mining costs.

http://www.aurcana.com/s/NewsReleases.asp?ReportID=359940&_Type=News-Releases&_Title=Aurcana-Increases-Interest-in-La-Negra

On August 17th, Aurcana released a corporate update, which showcased its excellent month of mining in June as well as renegotiated deals with its major creditors. Their deals with their major creditors will allow Aurcana to use their free cash flow to expand operations.

http://www.aurcana.com/s/NewsReleases.asp?ReportID=360186&_Type=News-Releases&_Title=La-Negra-Corporate-Update

Quarter 2 Earnings are expected to come out on August 29th. With the increase in silver, copper, and zinc prices from April to June and the reduced mining costs at La Negra, I expect Aurcana to show a profit for the quarter.

Aurcana's stock had a good day last Friday moving up 2 cents to 12 cents on 688,700 trade volume. With Aurcana's movement to reduce mining costs, the increased metals prices, and quarterly earnings coming out next weekend, expect Aurcana to come on people's radars as an undervalued play.


Note: I own shares in Aurcana Corporation.