Not a shocker here. Higher silver prices lead to higher revenues (and profits) for those that mine that shiny stuff.I'm looking for Great Panther, however, to have a pretty big bounce back 3q (and 4q) as they get rid of that excess inventory. [more]
Hi Guys, I'll leave this up to the experts to discuss. Just passing along some info. [more]
Fri Oct 7, 2011
Aurcana Reports 26% Increase in YTD Silver Production at La Negra and Shafter Silver Mine Construction Update
"Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF") is pleased to report silver production for Q3 2011 of 244,243 ounces that is based on just 80 days of mill production at La Negra. Year-to-date ("YTD"), silver production has increased 26% to 742,026 ounces, compared to 587,057 ounces in 2010. As anticipated, Q3 2011 silver production was slightly lower than 2010's 250,953 ounces as a result of the La Negra ball mill being down nine mill days in order to upgrade a ball mill.
Due to this maintenance, total mill feed of 119,772 tonnes was 4% lower than the 125,050 tonnes for Q3 of 2010. However, on a daily basis when the mill was in production at La Negra, the improvements at La Negra resulted in a 7% increase in the number of tonnes milled per day of 1,497 compared to 1,405 in Q3 2010.
Of 119,772 mill feed tonnes in Q3, 17% (20,562 tonnes) were from NI 43-101 Measured and Indicated Resources and 83% (99,210 tonnes) were from new discoveries or non-compliant resources. La Negra is now applying 43-101 standards in developing new mineralized zones to increase our compliant resources. Additionally, new ore zone development initiatives are being carried out on the Northwest Trend. [more]