Aurcanna's 3Q report shines again
Aurcana released their 3Q report today, and it verifies that this mining company is on a tear with HUGE upside potential!
* 224% increase in earnings from mining operations in Q3, 2011, $6.8 million compared to $2.1 million in Q3, 2010. 415% increase in YTD earnings from mining operations of $17.5 million in 2011 compared to $3.4 million in 2010.
* 217% increase in net income, $3.8 million in Q3, 2011 compared to $1.2 million in Q3, 2010. YTD net income up $6.8 million, to $6.1 million in 2011 compared to a loss of $0.7 million in 2010.
* Revenues increased 68% to $12.1 million in Q3, 2011 from $7.2 million in Q3, 2010. YTD revenues increased 114%, to $35.3 million in 2011 from $16.5 million in 2010.
* Operating cash flow before movements in working capital items, to $6.2 million in Q3 (2010 loss of 0.2 million).
*Silver production of 244,243 ounces (235,981 ounces sold), based on just 80 days of mill production; year-to-date silver production increased 26% to 742,026 ounces compared to 587,057 ounces in 2010.
(Emphasis mine, to demonstrate how productive this company is injust 80 days of mill production)
* Shafter Silver Mine in Texas continues to be on schedule for completion in May, 2012 with production commencing immediately thereafter.
The Shafter mine will pay itself off in approx 1yr of operating due to silver prices, afterwhich time it will be an ATM machine for the company.
When you read the highlyghts for the La vena mine project and the Shafter mine project, you can't help but wonder how such a company has stayed under the radar. I myself owe Speedybure for the find, and havebeen very happy since. This is the type of report that makes me want to double down if possioble, and if not content to already have shares. Its just a matter of time before this company really breaks out of the gate.