Exploring Mining Podcast #160 - CEO of Aurcana Silver Corporation (TSXV: $AUN.V) (OTC: $AUNFF) Discusses Demand for Silver Driven by Environmental Technology Trends
Point Roberts, WA and Delta, BC - April 20, 2021 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast, featuring an exclusive interview with the President, Chairman, and CEO of Aurcana Silver Corporation (TSXV:AUN) (OTC:AUNFF).
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Exploring Mining Podcast - CEO of Aurcana Silver (TSXV: $AUN.V) ( OTC: $AUNFF) Discusses Demand for Silver Driven by Environmental Technology Trends
Aurcana Silver Corporation (TSXV:AUN) (OTC:AUNFF) is well-positioned to benefit from increased demand for silver brought on by trends toward environmental-driven technology, according to the company's President, Chairman, and CEO, Kevin Drover.
"I think this whole environmental focus of the world right now bodes very well for the mining industry overall, and certainly very well for the silver industry," he said.
"There are not many silver mines coming online, certainly not in the continental United States, right now or anywhere," he said. "We are one of the few that's coming online right now. I think from a consumption perspective, with the Paris Accords and especially with the U.S. getting back into that. The environmental requirements of photovoltaics, electric vehicles, and wind turbines - all of these consume silver. And just those three alone, which I mentioned, I believe are consuming about a half billion ounces of silver a year, and growing. That bodes very well from our perspective."
Aurcana owns both the Revenue-Virginius polymetallic mine in Ouray, Colorado - the company's flagship - and the Shafter silver project, in Presidio County, southwest Texas. Speaking of the former, Drover provided an update on its current status:
"We're feverishly working away on the underground development - that's the pre-production development that we need to get ourselves into production," he said. "That is going very well, we're seeing some very good advance rates, even better than recently than what we'd expected. Right now we're on target for that third quarter restart of the operation."
Drover outlined Revenue's historical capacity, and its potential for when it's fully operational.
"The average grade coming out of this mine, historically, has been over 60 ounces per tonne," he said. "Our proven and probable reserve grade is right at 37 ounces per tonne. So, it's very high grade, one of the highest grade mines in the world. We're starting up at about 270 tonnes per day. Our mill capacity is closer to 500-600 tonnes per day, so we've got room to organically grow the production relatively quickly."
"We're anticipating that, based on today's silver prices, that our first full year of operation we would be - in terms of cash flow - right around $50 million coming off this property," he said.
Drover delineated the state of the Shafter project in Texas, and projected what the company can anticipate, in terms of production, once both mines are fully operational.
"It's fully permitted, it's pure silver, we have a new pristine resource there," he said. "We are looking at and evaluating doing a drill program in the near future. The idea being, is that we want to do a little bit of exploration and firm up the resource there, and get some samples for metallurgical study. We would anticipate later this year starting a feasibility study with an eye to putting that facility into production within the next 18 to 24 months"
"We're looking at, in the next two to three years - by the time we grow organically here at the Revenue Virginius mine up towards 6-6.5 million ounces, and then bring on the Shafter mine, another 2-2.5 million ounces. So, we're looking at an 8-9 million ounce range in the next three years and becoming a mid tier producer in the silver space."
ABOUT AURCANA SILVER CORPORATION http://www.aurcana.com/
Aurcana Silver Corporation owns the Revenue Mine, in Colorado, and the Shafter-Presidio Silver Project in Texas, US. The primary mineral resource at both the Shafter-Presidio Project and the Revenue Mine is silver. Both are fully permitted for production.
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