Aurcana Corp.

Published : May 25th, 2012

Reports: Record 1st Quarter Results

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

News Release
May 25, 2012
Aurcana Reports: Record 1st Quarter Results

Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF") is pleased to report its unaudited financial results for the first quarter ended March 31, 2012. The summary of the selected financial information should be read in conjunction with the Condensed Interim Consolidated Financial Statements (Unaudited) and the related Management Discussion and Analysis for the quarter ended March 31, 2012 dated May 24, 2012 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.aurcana.com). All figures are in US dollars unless otherwise noted.

The most significant highlights for the 1st quarter ending March 31, 2012 were:
  • Revenues increased 6% to 11.6 million in Q1, 2012 from 10.9 million in Q1, 2011.
  • 186% increase in net income, $2.0 million in Q1, 2012 compared to $0.7 million in Q1, 2011.
  • 21% increase in operating cash flow before movements in working capital, to $5.7 million in Q1, 2012 compared to $4.7 million in Q1, 2011.
  • Earnings from mining operations increased 2% in Q1, 2012, $5.5 million compared to $5.4 million in Q1, 2011.
  • 20% increase in silver production of 287,486 ounces (258,767 ounces sold) in Q1 2012 compared to 240,275 ounces in Q1, 2011 (218,701 ounces sold).
  • The upgrade of the La Negra mill was completed on March 31, 2012, increasing production from 1,500 tpd to 2,000 tpd, a 33% increase in production capacity.
Revenue
During the quarter ended March 31, 2012, the Company generated revenues from the sale of 3,266 tonnes of zinc concentrate (2011: 1,364 tonnes); 1,570 tonnes of copper concentrate (2011: 3,050 tonnes); 737 tonnes of lead concentrate (2011: nil); and 258,767 ounces of silver (2011: 218,701 ounces) for total net revenues of $11.6 million (2011: $10.9 million).

The average price for sales of zinc, copper, silver and lead during the period were Zn $0.91 (2011: $1.09) per pound; Cu $3.76 (2011: $4.37) per pound; Ag $32.80 (2011: $31.95) per ounce; Pb $0.95 (2011: nil) per pound.

Earnings
The Company had earnings from mining operations of $5.5 million for the quarter ended March 31, 2012 (2011: $5.4 million); income before taxes of $2.7 million (2011: $1.6 million); a net income of $2.0 million (2011: $ 0.7 million).

The increase in earnings from operations was mainly related to volumes sold and the increase of higher grades of the metals in the concentrates produced by the Company.

La Negra Mine Production Highlights
  • La Negra completed its second consecutive mine expansion from 1,500 tpd to 2,000 tpd production capacity on time and on budget for a cost of $4.5 Million.
  • 130,570 mill feed tonnes of ore processed during the current quarter, 15% (18,948) from NI-43-101 Measured and Indicated Resources and 85% (111,622) from new discoveries or non-compliant resources. All new mineralized zones will be NI 43-101 compliant.
  • 15% increase in Copper, Zinc and Lead concentrate produced during current quarter, 5,356 tonnes (2011: 4,684).
  • 2% increase in ore mined to 132,438 tonnes in Q1 2012 from 129,612 tonnes in Q1 2011.
  • La Negra's production increase was supported by a continuous in-house Diamond drilling program.
Shafter Mine Highlights
  • Construction at the Shafter silver mine in Texas has been successfully completed two months ahead of schedule and under budget. Commissioning and testing of the processing plant began on April 1, 2012. The ramp up to reach the 1,500 tpd production is expected by early Q3. Power was initially supplied by generators, but now the mill is operating on existing power from the grid.
  • Drilling has defined another 150 feet to the resource of the 1st block.
  • The warehouse building, cyanide mixing plant and potable water system are now complete.

To read complete Financial Statement click on this link: http://www.aurcana.com/i/pdf/2012Q1FS.pdf

To read complete MD&A click on this link: http://www.aurcana.com/i/pdf/2012Q1MDA.pdf

Corporate
The Company's shares are now also traded in the United States on OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

About Aurcana Corporation:
The Shafter Silver Mine is scheduled to produce 3.8 million ounces of silver in the first full 12 months of operation. It has an NI 43-101 Measured and Indicated Resource of 24.6 million ounces of silver and an Inferred Resource of 22.8 million ounces of silver using a 4.0 ounce per ton cut off. The 99.9% owned La Negra silver-lead-zinc-copper mine produced over 1 million ounces of contained silver in 2011 and 287,486 ounces for Q1 2012.

The reader should be cautioned that the Company has not completed a feasibility study to confirm the projected production capacity for La Negra and there is no certainty the Company's plans will be economically viable.

The scientific and technical information contained in this news release regarding the Shafter Silver Mine has been reviewed by Ken Collison, P.Eng. Director of the Company, and a Qualified Person ("QP") and scientific and technical information contained in this news release regarding the La Negra Mine has been reviewed by Baltazar Solano, P.Eng. and a QP). as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Project)


ON BEHALF OF THE BOARD OF DIRECTORS OF
AURCANA CORPORATION

"Lenic Rodriguez", President & CEO
For further information, visit the website at www.aurcana.com or contact:

Aurcana Corporation
Phone: (604) 331-9333
Toll Free: (866) 532-9333
Fax: (604) 633-9179
Gary Lindsey, Corporate Relations
Phone: (720)-273-6224
Email: gary@strata-star.com

NR-12-08
This news release contains certain forward-looking statements, including statements regarding forecast silver production, silver grades, recoveries, potential mineralization, exploration result, future plans and objectives of the Company and the business and anticipated financial performance of the Company. These statements are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.

Exploration results that include geophysics, sampling and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classified as a category of mineral resource. A mineral resource which is classified as "inferred" or indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to international operations, unsuccessful exploration results, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


 
 

Home  Projects  Corporate  Financial  Investor  News  Contact
� 2012 Aurcana Corporation All Rights Reserved.
Subscribe  |  

Aurcana Corp.

PRODUCER
CODE : AUN.V
ISIN : CA0519185064
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Aurcana is a silver development stage company based in Canada.

Aurcana produces silver, copper, lead and zinc in Mexico, and holds various exploration projects in Mexico.

Its main assets in production are LA NEGRA and SHAFTER in Mexico.

Aurcana is listed in Canada and in United States of America. Its market capitalisation is CA$ 847 400 as of today (US$ 677 541, € 593 526).

Its stock quote reached its highest recent level on October 31, 1997 at CA$ 9.92, and its lowest recent point on November 03, 2022 at CA$ 0.01.

Aurcana has 84 740 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Aurcana Corp.
1/7/2010Aurcana Corp. (Tsxv: Aun): New Recommendation
Annual reports of Aurcana Corp.
2008 Annual Report
2007 Annual Report
Financings of Aurcana Corp.
6/20/2014Closes $5,060,000 Equity Financing
6/14/2013Amends Warrants Expiring June 30, 2013
7/23/2010Closes Non-Brokered Private Placement
6/24/2010To Conduct A Best Efforts Non-Brokered Private Placement
11/30/2009Closes Non-Brokered Financing For CDN$2,549,300
Option Grants of Aurcana Corp.
1/19/2009(Shafter)reports 350,000 stock options at a price of $0.13
Nominations of Aurcana Corp.
11/20/2013Appoints New Board Member
9/25/2013Appoints Andrew Kaczmarek as Interim COO
2/13/2013Announces Appointment of New Board Member
2/22/2011Adds Paul Matysek to the Board of Directors and Strengthens ...
7/6/2010Appoints Director
5/18/2010Appoints Chief Financial Officer
3/4/2010Appoints Financial Advisor
5/21/2009Appoints Lenic Rodriguez President and CEO
12/18/2008Appointment of Director
5/16/2008Appoints Vice President of Operations
Financials of Aurcana Corp.
11/28/2013Announces Date for Q3 2013 Financial Results Webcast and Tel...
8/30/2013Reports Q2 2013 Financial Results and Provides Update
8/23/2013Announces New Date for Q2 2013 Financial Results Webcast and...
7/25/2013Announces Q2 2013 Financial Results Webcast and Teleconferen...
5/13/2013Announces Q1 2013 Financial Results Webcast and Teleconferen...
4/12/2013Reports Year End Financial Results and Provides Operational ...
3/28/2013Announces Year End Financial Results and Operational Update ...
6/27/2011RETRANSMISSION: Aurcana Reports Record 1st Quarter Results
5/9/2011Reports Record 2010 Results
12/2/2009Reports Positive Third Quarter Results
9/3/2009Reports Positive Second Quarter Results
12/3/2008Reports Third Quarter Results
9/5/2008Reports Second Quarter Results
5/2/2008Files Annual Statements La Negra Mine Records Profit in Four...
Project news of Aurcana Corp.
4/3/2013(Shafter)Shafter 2012 Exploration Program Identifies Evidence for a L...
2/11/2013(La Negra)New Discoveries at Aurcana's La Negra Mine Indicates the Pre...
2/5/2013Bull & Bear's Resource Investor: Silver & Gold Forecasts; En...
1/24/2013(La Negra)La Negra Drill Hole Results Confirm High Grade Continuity in...
11/6/2012Bull & Bear's Resource Investor: Commodity Makets, Gold & Si...
7/11/2012(La Negra)Reports: Record Silver Production, up 54% at La Negra Mine; ...
3/31/2012(La Negra)to Commission Plant at Shafter Mine and Completes Mine Expan...
12/14/2011(La Negra)Discovers New Silver Mineralization at Depth at La Negra Min...
4/8/2011(La Negra)Announces Record Silver Production, La Negra Production Expa...
1/21/2011(Shafter)Commences Construction at Shafter Silver Mine
6/1/2010(La Negra)Expansion To 1,500 T/D At La Negra Mine Completed
2/16/2010(La Negra)NI 43-101 Report increases Maravillas Deposit Resources by 4...
6/30/2009(Shafter)Positive Pre-Feasibility for Shafter Silver Mine 7.75 Millio...
6/3/2009(La Negra)Takes Control of Operations at the La Negra Mine: Expansion ...
3/2/2009(Shafter)Scoping Study Upgraded to Pre-Feasibility: Consultant Hired ...
11/20/2008(La Negra)Shafter Silver Mine Timeline and Update; Additional Operatio...
7/31/2008(Shafter)47.4 Million Ounce Silver Resource at Shafter Silver Mine Co...
7/17/2008(Shafter)Finalizes Acquisition of Shafter Silver Mine
4/11/2008(La Negra) Intersects 8.15 Metres of 420 Grams per Tonne Silver and 1....
3/19/2008(La Negra) Adds Over 500,000 Tonnes In Monica Zone
Corporate news of Aurcana Corp.
5/2/2016Aurcana Files 2015 Annual Financial Statements
1/8/2016Aurcana Corporation Announces Completion of Restructuring Tr...
1/7/2016Aurcana Corporation Announces Completion of Restructuring Tr...
1/5/2016Aurcana Voluntarily Delists From OTCQX
12/18/2015Aurcana Corporation Update on Restructuring Transaction
12/1/2015Aurcana Reports Q3 2015 Financials And Provides Update on Re...
11/30/2015Aurcana reports 3Q loss
10/30/2015Aurcana Corporation Announces Commencement of CBCA Proceedin...
10/19/2015Aurcana Production Results for Q3 2015
10/16/2015Aurcana Corporation Announces Restructuring Transaction and ...
8/14/2015Aurcana reports 2Q loss
8/14/2015Aurcana Reports Q2 2015 Financials.
8/14/2015Aurcana Reports Q2 2015 Financials
7/14/2015Change of Auditor
7/3/2015Change of Auditor
4/14/2015Aurcana Reports 2014 Financial Results
3/25/2015Notice regarding the Proposed Class Action Settlement
3/25/2015Notice regarding the Proposed Class Action Settlement (frenc...
2/10/2015Aurcana Announces Settlement of Class Action
1/13/2015Aurcana Delivers Highest Quarterly Production in History in ...
12/16/2014Aurcana Board Update
12/3/2014Aurcana Announces New Mineral Resource Estimate for the La N...
12/1/2014Aurcana Reports 3rd Quarter Financial Results
10/27/2014Aurcana Sets New Production Record in Third Quarter
10/27/2014Aurcana Sets New Production Record in Third Quarter
10/10/2014S&P Dow Jones Indices Announces Quarterly Review of S&P/TSX ...
8/29/2014Aurcana Reports Q2, 2014 Financial Results
7/17/2014Aurcana Appoints New Board Member
7/10/2014Aurcana Announces New President & CEO
6/9/2014Aurcana Reports Voting Results of Annual and Special Meeting
5/30/2014Aurcana Reports Q1, 2014 Financial Results
5/9/2014Aurcana Announces Completion of Issuance of Debt Settlement ...
5/1/2014Aurcana Reports 2013 Financial Results
5/1/2014Aurcana Announces Completion of Transactions Under Amended C...
4/30/2014IIROC Trading Resumption - AUN
4/29/2014IIROC Trading Halt - AUN
4/7/2014Aurcana Reports 55% Increase in Silver Equivalent for First ...
2/6/2014Reports Fourth Quarter and 2013 Production Results
11/4/2013(Shafter)Shafter Update - Aurcana Appoints David Drips General Manage...
10/31/2013Provides Update
10/21/2013Reports Third Quarter Production Results
9/30/2013Announces Departure of VP Operations
9/20/2013Closes $50 million Loan Facility
9/11/2013Announces $5,000,000 Bridge Loan
7/25/2013(Shafter)letter: Shafter's New Miners Training Program Featured on CB...
7/10/2013Provides Corporate Update
6/28/2013Announces $50 million Loan Facility
6/26/2013Reports Voting Results of Annual and Special Meeting
6/7/2013Files Amended Technical Report
5/23/2013(La Negra)Clarifies That La Negra Mineral Resource Estimate Remains U...
5/16/2013Adopts Advance Notice Policy
4/15/2013Announces Share Consolidation Effective Apr 30, 2013
3/28/2013Announces Shareholder Approval of Share Consolidation
2/13/2013Announces Proposed Share Consolidation
1/25/2013letter: Aurcana CEO invited at CNBC Asia to talk about futur...
1/17/2013Reports Fourth Quarter and 2012 Year to Date Production Resu...
10/24/2012Investors Newsletter
10/18/2012(La Negra)Reports: Record Quarter of Silver Production, up 54% at La N...
10/18/2012(La Negra)Reports: Record Quarter of Silver Production, Up 54% at La N...
10/12/2012letter
10/11/2012(La Negra)Files Technical Report on Updated Resource Estimate for La N...
8/28/2012(La Negra)Announces Updated Resource Estimate for La Negra Mine
8/20/2012Reports Record Results for Q2, 2012
6/6/2012(Shafter)Commences Open Pit Mining at Shafter
6/1/2012(Shafter)Intersects High Grades in Shafter Surface Drilling
5/25/2012Reports: Record 1st Quarter Results
4/26/2012(La Negra)Reports: Record Silver Production at La Negra Mine
4/16/2012Reports Record 2011 Results
3/25/2011-Amends Convertible Debenture Terms
6/16/2010Reports 54% Higher Revenues in Q1, 2010 Compared To Q1, 2009...
5/6/2010Reports $3.8M Net Earnings
4/24/2010Announces US$40,000,000 Silver Backed Unit Offering
4/22/20102010 "Virtual" World Money Show
12/4/2009Closes Sale of Rosario Project
9/17/20092009 AGM Invitation
8/18/2009La Negra Corporate Update
5/25/2009Sells Rosario To Focus On Shafter Development
8/22/2008Annual General Meeting Reminder
7/7/2008Receives US$25 Million - Shafter Silver Mine Acquisition to ...
5/21/2008Reports 145 g/t Silver and 1.96% Copper over 23.5 meters
4/7/20082008 Calgary Resource Investment Conference
4/3/2008 Acquires Near Term Silver Production Project
2/26/2008Aurcana Moves to Expand and Mine Higher Grades at La Negra
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (AUN.V)Other OTC (AUNFF)
0.010-33.33%0.010+0.00%
TSX-V
CA$ 0.010
12/02 11:10 -0.010
-33.33%
Prev close Open
0.015 0.015
Low High
0.010 0.015
Year l/h YTD var.
0.005 -  0.400 -97.47%
52 week l/h 52 week var.
0.005 -  0.425 -96.97%
Volume 1 month var.
90,500 100.00%
24hGold TrendPower© : -3
Produces Copper - Lead - Silver - Zinc
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/12/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-97.53%0.420.01
2021-61.79%1.250.32
2020307.69%1.190.15
201915.56%0.800.21
201818.42%0.270.19
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.15-3.77%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 5.86-1.35%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.80-3.15%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.08-11.11%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.03+2.01%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.40-0.65%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.18+2.86%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.41-1.23%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 68.81+0.78%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :