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Category: Junior: Late Stage Developer
Rating: 2.50   (Likely 3 Bagger as of 06/23/2017)
Risk: High
Aurcana Corp
www: www.aurcana.com     email: info@aurcana.com

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Notes
Forum
Your Data

Price Data

Symbol Date Price Change 52 Wk Range Volume
CVE:AUN 10/20/2017 CAD 0.255 -0.005 0.580 - 0.230 5,480
OTCMKTS:AUNFF 10/20/2017 USD 0.1990 -0.0110 0.4370 - 0.1770 1,062
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Don's Summary (from last analysis - 06/23/2017)

Aurcana Corp had a market cap of $545 million in 2011 and everything looked great. Then silver prices collapsed from 2011 to 2015. They lost their La Negra mine in 2015 (which was producing 3 million oz per year) to payoff their outstanding debt. Now all they have left is their high cost Shafter mine in Texas, which has only 18 million oz. The good news is that the market cap is down to $30 million, giving them 5 bagger potential. Plus, they are currently debt free.

Shafter is very high grade (8 opt) and is on care and maintenance. They can resume production at around 1.5 million oz per year. The capex to resume production is $13 million, but the after-tax IRR is 40%. They can probably finance it at $18 silver. In 2017 they plan to do some drilling and delay until silver prices rise before trying to finance it. The mine is permitted.

They seem to be in good shape to resume production at higher silver prices. I would expect the share price to rise along with silver prices. They key for Aurcana will be exploration success. If they can triple their resources at Shafter, this could be an exciting stock. The bad news is they have low resources and no pipeline. Without exploration success, their stock upside potential will be limited.

General Details

Financial 06/23/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $30.85M $25.48M 06/23/2017 $-5.37M
Total Assets: $17.45M $18.86M 06/30/2017 $1.41M
Total Liabilities: $1.19M $1.03M 06/30/2017 $-0.16M
Current Assets: $3.00M $2.49M 06/30/2017 $-0.51M
Current Liabilities: $0.69M $0.59M 06/30/2017 $-0.10M
Total Debt: $0.00M $0.00M 06/30/2017 $0.00M
Cash: $3.00M $2.01M 06/30/2017 $-0.99M
Enterprise Value: $27.85M $23.47M 09/29/1970 $-4.38M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 06/23/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 06/23/2017 0.00%
Misc 06/23/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $0.245 $0.202 12:10 on 10/20/2017 $-0.04
Shares Outstanding: 96,000,000 96,270,000 06/30/2017 270,000
Shares Fully Diluted: 126,000,000 126,000,000 06/23/2017 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a 01/01/2019 06/23/2017 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
06/23/2017 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
06/23/2017 0
Initial CapEx (Outstanding): $13.00M
42.13% of Mkt.Cap
$13.00M
51.02% of Mkt.Cap
06/23/2017 $0.00M
Funding Option: n/a n/a 06/23/2017 n/a
Documentation: none PEA 06/23/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 06/23/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 06/23/2017 0.00M
Measured & Indicated: n/a n/a 06/23/2017 0.00M
Inferred: n/a n/a 06/23/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 06/23/2017 0.00M
Measured & Indicated: n/a n/a 06/23/2017 0.00M
Inferred: n/a n/a 06/23/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 06/23/2017 $0.00
Extra Operating Cost: n/a n/a 06/23/2017 $0.00
Average Grade: n/a n/a 06/23/2017 n/a
Recovery Rate: n/a n/a 06/23/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 06/23/2017 0.00M
Annual Production: n/a n/a 06/23/2017 n/a
Cash Cost: n/a n/a 06/23/2017 n/a
Extra Operating Cost: n/a n/a 06/23/2017 n/a
SILVER 06/23/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 06/23/2017 0.00M
Measured & Indicated: 11.00M 11.00M 06/23/2017 0.00M
Inferred: 7.00M 7.00M 06/23/2017 0.00M
Reserves & Resources: 18.00M 18.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 06/23/2017 0.00M
Measured & Indicated: 8.36M 8.36M 06/23/2017 0.00M
Inferred: 3.33M 3.33M 06/23/2017 0.00M
Reserves & Resources: 11.69M 11.69M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 06/23/2017 $0.00
Extra Operating Cost: n/a n/a 06/23/2017 $0.00
Average Grade: 240.00 g/t 240.00 g/t 06/23/2017 n/a
Recovery Rate: (CG)  95.00% (CG)  95.00% 06/23/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 15.00M 15.00M 06/23/2017 0.00M
Annual Production: 1,500,000oz. 1,500,000oz. 06/23/2017 0oz.
Cash Cost: $10 $10 06/23/2017 $0
Extra Operating Cost: $6 $6 06/23/2017 $0

Property

Last Analysis Data  (06/23/2017)
Stage Location Name Owned Type Au Ag Cu
Development El Paso, USA Shafter 100% n/a
Current Data
Stage Location Name Owned Type Au Ag Cu
Development El Paso, USA Shafter 100% n/a

Profitability (by resource)

Proven &
Probable
06/23/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
n/a n/a n/a 0.00%
Measured &
Indicated
06/23/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): 11.00M 11.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: 8.36M 8.36M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $4.04M $5.85M n/a $1.81M
Total Maximum Profit: $4.04M $5.85M n/a $1.81M
Max Profit / Current MCap: 0.131 0.230 n/a 0.099
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $0.03 $0.05 n/a $0.01
Total Max Profit Per Share: $0.03 $0.05 n/a $0.01
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $277.81 $229.18 n/a $-48.63
FD Mkt. Cap / Silver Eq.: $3.69 $3.05 n/a $-0.64
FD Mkt. Cap / Per Metal
as % Spot Price:
22.11% 17.93% n/a -4.19%

Reserves &
Resources
06/23/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): 18.00M 18.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: 11.69M 11.69M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $5.64M $8.18M n/a $2.54M
Total Maximum Profit: $5.64M $8.18M n/a $2.54M
Max Profit / Current MCap: 0.183 0.321 n/a 0.138
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $0.04 $0.06 n/a $0.02
Total Max Profit Per Share: $0.04 $0.06 n/a $0.02
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $198.76 $163.96 n/a $-34.79
FD Mkt. Cap / Silver Eq.: $2.64 $2.18 n/a $-0.46
FD Mkt. Cap / Per Metal
as % Spot Price:
15.82% 12.83% n/a -2.99%

Future Valuation (Cash Flow & Totals)

Totals 06/23/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $29.25M $29.80M n/a $0.54M
Mkt. Cap: $30.85M $25.48M n/a $-5.37M
Annual Gold Production: n/a n/a 0oz.
Annual Silver Production: n/a n/a 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $225.00M $225M n/a $0M
FD Mkt. Cap Growth: 629% 783% n/a 154%
Annual
Production
Gold: n/a n/a n/a n/a
Silver: 1,500,000 oz. 1,500,000 oz. n/a 0 oz.
Current FD
Mkt. Cap /
Gold Eq. Reserves: 51.42 42.47 n/a -8.96
Silver Eq. Reserves: 2.06 1.70 n/a -0.36
Gold Eq. Production: 514.24 424.66 n/a -89.58
Silver Eq. Production: 20.57 16.99 n/a -3.58
P&P
Reserves
(oz.)
Gold: n/a n/a 06/23/2017 n/a
Silver: 15.00M 15.00M 06/23/2017 n/a
Gold Eq.: 0.60M 0.60M 06/23/2017 n/a
Silver Eq.: 15.00M 15.00M 06/23/2017 n/a
P&P Reserves
per FD
Share (oz.)
Gold: n/a n/a n/a n/a
Silver: 0.119 0.119 n/a n/a
Gold Eq.: 0.005 0.005 n/a n/a
Silver Eq.: 0.119 0.119 n/a n/a
Cash Flow 06/23/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $0.00M $0.00M n/a $0.00M
Current Multiple: 0.00 0.00 n/a 0.00
F
U
T
U
R
E
@ current prices: $0.62M $0.90M n/a $0.28M
Multiple @ current prices: 49.69 28.31 n/a -21.37
Growth @ current prices: 0.00% 0.00% n/a 0.00
@ future prices: $75.60M $75.60M n/a $0.00M
Multiple @ future prices: 0.41 0.34 n/a -0.07
Growth @ future prices: 0.00% 0.00% n/a 0.00

Defaults

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