Aurcana Corporation has 100% ownership of the world’s highest-grade silver mine (P&P): the Revenue-Virginius mine in Ouray, Colorado, USA. This fully-permitted mine will also be one of the lowest-cost silver producers in the world at only US$8/oz Ag (AISC) after byproduct credits. Aurcana is currently in the final stages of securing a debt facility for the the final capex needed to commence production. Production should occur seven months after closing the debt deal.
In this interview, Aurcana CEO Kevin Drover provides an update on the progress of the Revenue-Virginius mine. Amidst the COVID-19 crisis the company has been busy hiring a mine manager and numerous quality mine workers. There are now about 40 employees at the mine working on its development. Kevin noted that many generalist investors are looking for quality silver plays and as a result Aurcana’s share price is hitting 52-week highs and has tripled in price in the past two months.
Kevin Drover has over 40 years of both domestic and international experience. He was previously VP Worldwide Operations at Kinross Gold and possesses experience in all aspects of mining industry operations, process re-engineering, project development and corporate management.
0:15 Introduction
1:53 Kevin is in the process of moving to Ouray, CO to oversee mine development
3:29 Any COVID-19 cases in Ouray, CO and community sentiment?
4:20 We’ve been hiring miners…up to about 40 employees at the mine now.
5:24 Our COO Brian Briggs knows this mine inside and out (6 generations in Ouray)
6:19 We hired expert mine manager Mike Lee (40+yrs exp narrow vein mines)
8:06 Progress made during COVID-19 crisis
9:35 Acquired Blue Grass claim means more development and resource potential
11:17 Last week we started to receive money from exercised warrants
12:05 We have multiple banks offering us debt financing
14:55 Generalist investors are buying Aurcana for exposure to a quality silver play
http://www.aurcana.com/ TSXV:AUN OTC: AUNFF
January 7th interview: http://www.miningstockeducation.com/2…
March 5th interview: http://www.miningstockeducation.com/2…
Aurcana’s Investor Presentation: http://www.aurcana.com/_resources/pre…
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