Aurcana Corp.: Silver Mine Development Story

Don Durrett profile picture
Don Durrett


  • Engaged in the final construction of a fully-permitted high-grade silver mine in Colorado.
  • The resource is 30 million oz. at 700 gpt, with excellent exploration potential.
  • The project is construction-ready and all they need is financing.

Stock Name

Symbol (US)



Share Price (US)

FD Shares

FD Mkt Cap (5/12/2020)

Aurcana Corp.



Late Stage Development




I have been following Aurcana's high-grade silver project (Revenue-Virginius Mine) in Colorado for a while now. I have waited patiently to see how it progressed. Recently, I watched a video interview with the CEO explaining the project and its current status. I was impressed. They seem to be close to the finish line.

Aurcana Corp. is under the radar. I don't think investors realize the quality of their RV project. It is in a good location in Colorado, where mining has been common in the past. In my opinion, there aren't any location issues. Plus, what makes it special is the high-grade and exploration potential. The resource is 30 million oz. (700 gpt), but it will increase in size. Management is excited about what they are going to find once they start drilling certain targets. It is a past-producing mine with several known veins.

All development stocks carry significant risk. The risk for Aurcana is that they do not get financing, or they have higher than expected costs, or silver prices do not rise. Plus, there are likely several other risks that I am not aware of that are lurking. That said, I think the risk-reward is compelling.

In addition to the RV mine, they have another project in their back pocket. Their Shafter mine in Texas is on care & maintenance and has a low capex to restart. It is a small mine with only 18 million oz. (240 gpt). It requires higher silver prices to restart, but was producing 1.5 million oz. before it was shut down by Aurcana. I think this mine will get restarted after we get above $20 silver.

This article was written by

Don Durrett profile picture
Author of How to Invest in Gold & Silver: A Complete Guide with a Focus on Mining Stocks. Expert on gold and silver mining stocks. Website:

Disclosure: I am/we are long AUNFF. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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