There is NOTHING wrong with Aurcana. This company is, or will be, a money-making machine.
The share price today is tanking. In fact, it's been tanking since xmas. Why?
Silver prices have dipped a little. But c'mon, it had been hovering around $32 for the longest time and now that it's around $30, investors are dumping?
Reverse split. Ok, the PERCEIVED view is that it is a bad thing. PERCEIVED. Market cap remains the same and the value of one's shares upon conversion stays the same. I'll allow for a drop in price due to this perception issue.
Now rewind back to late November, early December. Under another alias[insert oxidized German name here] which I cannot name on fear that I might once again get expelled from Stockhouse.... Hey, can someone tell me why is it that one cannot imply that another user likes to fraternize with donkeys? But I digress.... A couple of months back I posted that fear permeated the junior markets. No one really agreed with me on this board. This was the only board I had posted this line of thought for no particular reason.
Then earlier this year under the same old alias, I stated that it felt like silver was being PUSHED on retailers and that there was little PULL for silver. I know, it's all anecdotal and easy to say that I was right in hindsight. But these are the two reasons I pulled out of AUN.
I don't mean to make this an "I told you so post", but look at where this company sits today. All juniors in fact. Those in the know KNEW that this was coming. The market is headed for a correction. The first to feel it are the juniors as further evidenced today. Just take an overall view of your watchlists. Red. Medium and large cap stocks are holding or slightly up for the day and juniors are getting whacked across the board.
In truth, I couldn't help but jump in a couple of times on some juniors in the last 6 weeks. Got burnt and lost a few bucks along the way. A few thousand in fact. Such is life for the day trading gambler. No matter how great a particular company's fundamentals are, if the market is trading under an underlying sense of fear, these fundamentals mean NOTHING. Aurcana would be a fantastic investment IF and only IF the market foundation was solid. Sadly, it is not. How much more punishment can the junior market take? Only a higher power will know the answer to that question. I am OH SO TEMPTED to again jump on the Aurcana train. And when I say this, I mean ALL-IN. But I, like so many other investors, are riddled with fear and uncertainty.
Until I see a SHRED of sanity and POSITIVE gain in the junior markets, I will remain on the sidelines.
It saddens me that so many shareholders, particularly those on this board, have lost ground on their portfolios in the last few months because of Aurcana's weakness. It really does. I read this board on an almost daily basis and, in a way, have gotten to know many of you at least on some level.
Take my views with respect to market fear with a huge grain of salt. It's just the way I see it.
With sincere regards,
The Shat - a.k.a. RK