Aurcana is a modestly profitable silver company (at current silver prices) running its La Negra Operation in Mexico.  Recent exploration has increased their resource to well over 150 M Oz Ag from under 10M Oz.  They are continuing to increase this resource with surface and underground drilling.  The link below will outline the current production rates and efficiencies.

Importantly, they are ramping up production at the Shafter Operation in Texas.  The news investors are waiting for news of the current production rate.  They also await the achievement and sustainment of the commercial production rate of 1500 tpd. This could be next week, or in the next quarter or two.  

We have endured the challenges faced,  when a mining operation has to train up a new work force underground and in the plant.  Additionally, the ore body underground was broader that surface drilling suggested, and the development process was more involved that anticipated.  Regardless, once Shafter is up, they should produced 3-4M Oz of silver per year from this operation alone.  Together with LaNegra, they should be a 6 M Oz silver producer at the current milling and mining capabilities.  There are already plans to expand Shafter to 2500 tpd, and LaNegra to 3000 tpd.  That is news for another year. 

Here's an article by Chris Barker at Motley Fool.  He's has done a couple of visits to the Shafter operation, and has a good feel for the operation, and management.


 Some baseline DD:

Recent Corporate Presentation:

Fundamentally, Aurcana is on a significant organic growth trajectory.  The company is admittedly diluted in its share structure for a junior producer (roughly 500M S/O), arguably they won't be a junior for long.  If you are a value driven investor, and want silver exposure in your portfolio, this company should be on your radar.   

Disclaimer, I have shares, but no affiliation with the Company.

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