Aurcana Corp. (AUN-X)

Has been a bit of a disaster. Mine in Texas is not going ahead, resource was not properly done. The reserves are not what they expected.

Have 2 mines, one in Mexico and one in Texas. Appears to be having difficulty in both projects and there are operating difficulties that he doesn’t understand.

(A Top Pick March 30/12. Up 1.15%.)

Both of their mines have very good grades and resource of silver. Commercial production of their Texas mine is being pushed out to maybe past January/February. Thinks there is good value here and wouldn’t rule out a takeout. Value wise she thinks it’s fair but there seems to be some negativity on the Shorts side so would be cautious, but over the long term there is a lot of value there.

Silver mine in Mexico, which is one of the best jurisdictions to explore for silver. Silver has had an excellent run from mid-$20-$35 an ounce so companies like this, that are going to get ready for production, are going to be prime to generate excellent cash flows and ultimately get taken out down the road.

Just came out with an upgrade to 115,000,000 ounces of silver on their Mexican mine. Their Texas mine will soon be opening also. She feels this is a takeout name. For a junior, it is about a $500 million market cap. These are fairly high-grade mines and she likes the cost they have extracting the ore.