Wed, 7 July 2021
Kevin Drover CEO and President of our sponsor Aurcana Silver came by for an update on the high-grade Revenue Virginius mine. Last year he assured us that silver production would commence summer of 2021 and he’s about to deliver. Kevin is a no hype leader who does everything in his power to deliver, pandemic or not. He’s so committed that he moved to Colorado to personally oversee the mine’s opening. And it worked. Metal should be going through the mill later this month. The first concentrate will be produced by August. The best news yet, the ore from the first cross-cut is even richer than anticipated. While 36 oz per ton was expected, they got 39 oz. per ton The vein width was thought to be 1.6 feet, but the first cut was 2.5 foot. Full mill capacity of 270 tons per day should happen in September, along with the resulting positive cash flow. And then it’s on to the Texas Shafter Mine and once that starts production in a couple of year, all bets are off. (We own shares in Aurcana) Go to Aurcana.com to get the latest updates. Ticker symbol on the AUN for Canadians and for US investors it’sl AUNFF. |
Wed, 7 July 2021
We followed up with Ivan Bebek and Peter Dembicki on Tier One Silver (sponsor). A lot’s been happening in Peru and with the Curibaya Project, so an update was due. Dembicki explained that they expanded Curibaya’s total land package by 50 percent. Its prospects for success have also gone up dramatically and Co-Chair Bebek explained why. The “Jewelry Box,” bonanza grades of surface silver/gold have been impressive, with over 164 samples of 200+ g/t silver and 60 samples 2 g/t gold in 3 principal vein corridors. There have been 81 samples of over 500 g/t silver and 60 samples of 2+ g/t gold as well. With a fully funded 10,000 meter drill program under way, it’s a wonder that the team gets any sleep at all. They're starting believe that this system appears to be far larger than even they expected. The recent election saw a populist candidate take the Peruvian presidency, but Bebek is mostly unconcerned. Taxes were going up anyway, not just in Peru, but around the globe. The president-elect understands that mining is the backbone of Peru’s economy and has appointed ministers who are consistent with that belief. When asked about current share valuation, Co-Chair Bebek stated that the present price could be a great entry point, especially in light of how encouraging the first drill hole has been. He explained that it's taking longer to complete, which is a sure sign that mineralization runs deep. With all this going for it, Tier One Silver appears close to a major success in its world-class treasure hunt. Website: www.TierOneSilver.com TSX.V - TSLV |
