Aurcana Silver Corp.’s High-Grade Silver Mine Is Fully Funded to Production with CEO Kevin Drover
Aurcana Silver Corp. (TSXV:AUN OTC: AUNFF) 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 Silver Corp. just announced that they secured a debt facility for the the final capex needed to commence production. Initial silver production should occur in six months in April 2021 CEO Kevin Drover said in this interview. Kevin also discussed the company’s growth plans to increase annual silver production to 5 to 7 million ounces over the coming years.
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.
Aurcana Silver Site Tour Video
Excellent news! Finally. Questions: Any idea who put in the last bit of funding? Any results from their Bluegrass drilling started in July? They strike me as experienced old school underground miners with deep understanding of the local geology, but I question about their exploration capability (do they even have an exploration team?). It also bothers me a bit at this stage, they still use the same UG section map made from probably the 70’s or 80’s and paste some sketches on top. I would expect a 3D model at minimum. I have not seen any surface maps, surface samples, geophysics, or a 3D geologic model in any presentation or company website. This interview was the first time I hear him mention further exploration opportunity along the RV strike length, but still nothing concrete. If he could come up with a sound exploration plan, as investor, I would see it as a near-term producer play + exploration growth on tap i.e. not selling all my position after FP.