Update: Aurcana's Q2 Earnings Show Rising Costs, Shrinking Production
- Aurcana reported a net loss for the second quarter as the silver price fell, costs rose and production fell.
- There was no mention of the idle Shafter Mine in the press release, which I found troublesome.
- The stock has lost most of its value since my July, 2013 article as the Shafter Mine stopped producing, contrary to my expectations.
- The stock is trading at a steep discount to the value of the company's underlying assets and may now make for a good speculation play.