Mar 25, 2020
Kevin Drover is so motivated to get Aurcana Corporation's silver mine producing that he's moving to Colorado, down the street, to personally oversee its operations. Unlike many in the industry, Kevin started out as a lowly miner and has worked every position until becoming a CEO. He has devoted substantial personal assets to the company.
Aurcana acquired Ouray Silver Mines Inc. which owns the Revenue-Virginius poly-metallic mine in Ouray, Colorado in December, 2018. Grades run as high as 37 ounces per ton of silver through narrow veins. Even at today's depressed silver prices, this mine is a money maker. With a little cooperation from the markets, this could be a runaway success.
A new mill was built in 2011 and the mine was last operated in 2015 before being placed on care and maintenance. Since 2015 more than $20 million has been invested in technical work on the asset. In June 2018 and updated feasibility study was completed and the mine is fully permitted for immediate production. And now the capital is being raised and production could be just months away.