LilNev2000's Blog : Aurcana Corporation Makes New 52-Week High

Aurcana Corporation made over a 25% move today to a new 52-week high. This comes after a couple of positive news releases over the last 2 days.

On Monday, Aurcana announced the closing of their private placement which raised over C$2.5 million. That money will go to increasing their production at La Negra as well as securing permits for their Shafter mine. Yesterday, Aurcana came out with a news release discussing their third quarter earnings. In Quarter 3, Aurcana had an operating profit of $490,000. With the increased production coming next year at La Negra operating profits should continue to increase.

Also worth noting is that the company that Aurcana sold its Rosario project to, Silvermex Resources, has also reached a new 52-week high today. Aurcana will be getting a million shares of Silvermex as part of their compensation for Rosario. Those million shares have doubled in price since the deal closed.

As metal prices remain strong, companies with a strong future such as Aurcana will continue to shine.

For those of you wanting to find out more about Aurcana check out their October presentation at Investmentpitch.com
Presentation Link: http://www.investmentpitch.com/media/535/Aurcana_Corporation__-_TSX.V_AUN/


Note: I own shares in Aurcana.

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Third Quarter Earnings Release
http://ca.news.finance.yahoo.com/s/01122009/28/link-f-ccnmatthews-aurcana-corporation-reports-positive-third-quarter-results.html

Aurcana's closing of Private Placement
http://ca.news.finance.yahoo.com/s/30112009/28/link-f-ccnmatthews-aurcana-closes-non-brokered-financing-cdn-2-549.html