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Jbay76 (< 20)

Aurcanna Share Consolidation

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February 21, 2013 – Comments (6) | RELATED TICKERS: SAND , AUNFF

OK Fools,

So Aurcann wants to consolidate their shares from ~467 million to ~58 million, a one for 8 conversion.  If approved on march 28, game on.  I can't see why we as shareholders would not wan this to happen.  It will reduce dilution, increase shareholder value and brign it out of the penny stock world.  Heck Sandstorm did the same thing last year it was favorable for them.  The oen downside is the math of the conversion.  If after the conversion you have tenths of a share, say good bye to that tenth or so, only whole number here, no rounding.  So, I woudl think it wise to make sure as sharholders, our shares evenly divide by 8.

Other than that, this company is doing great and is barely followed.  This could be the breakout we've been waiting for that results in AMEX listing, increased trading, better gains:D...and so on.  In the end, it had to happen at some point, right?

Cheers

J

6 Comments – Post Your Own

#1) On February 21, 2013 at 10:11 AM, Jbay76 (< 20) wrote:

Bugger, I forgot to add a link to the article

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#2) On February 21, 2013 at 4:11 PM, getrichslowfool (< 20) wrote:

Jbay,

I've been an AUN holder for about 1.5 years now.  I also went through the SAND reverse split, and it has turned out to be (rather) successful.  It's acctually back down to levels close to just after the reverse split haha.

Many AUN holders seem to be very upset about this reverse split because market psychology says "reverse split BAD!".  I'm of the impression that it really needed to happen, but I do feel that it was just terrible timing.  Not because of the recent "goldaggedon", but because they have completely fumbled Shafter.

It's just better to do consolidation on the back of good news, not continued bad news... 

I did pick up more on this weakness though, I just couldn't resist! 

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#3) On February 21, 2013 at 4:20 PM, getrichslowfool (< 20) wrote:

Also, I believe that fractional shares are handled by receiving cash from the company.  So it's rounded down, but the company pays you for the value of your fractional share.

It's almost like a repurchase program! 

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#4) On February 22, 2013 at 10:08 AM, Jbay76 (< 20) wrote:

@getrichslowfool

What do you mean they fumbled Shafter?  I must have missed something along the way.

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#5) On February 22, 2013 at 10:08 AM, Jbay76 (< 20) wrote:

@getrichslowfool

What do you mean they fumbled Shafter?  I must have missed something along the way.

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#6) On February 25, 2013 at 12:50 PM, getrichslowfool (< 20) wrote:

Jbay,

Well they first said that commercial production would commence in the summer of 2012, with rampup to 1500 tpd by the end of 2012. 

They then didn't provide any updates until they declared commercial production in the end of December, 2012.  Now, their most recent corp. presentation has them ramping up to 1500 tpd by the end of 2013.  So they were half a year behind on commercial production, and a year behind on being ramped up.

It seems as though Lenic fired the team that didn't get this done in a timely manner, so maybe he was getting bad information from them as far as how long those kinds of things should have taken.  I say they fumbled simply because they are way behind, which is why our SP is languishing.

By the end of this year, if Shafter is actually ramped up to 1500 tpd, I sure hope our share price (post consolidation) reflects this.  We should be seeing massive cash flows in the years to come. 

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