|By Marketwired .||
|November 13, 2012 08:00 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 -- Aurcana Corporation (TSX VENTURE:AUN)(OTCQX:AUNFF) ("Aurcana" or the "Company") today is pleased to report its unaudited financial results for the third quarter ending September 30, 2012. The summary of the selected financial information should be read in conjunction with the unaudited financial statements and the related management's discussion and analysis dated November 09, 2012 together referred to as the "Financial Statements", which have been filed on SEDAR (www.sedar.com) and the Company's website (http://www.aurcana.com). All figures are in US dollars unless otherwise noted.
The Q3 2012 Earnings Webcast and Conference Call has been scheduled at 11:00am Pacific Time (2:00 pm Eastern Time) on Tuesday, November 13, 2012. See bottom of press release for details.
Mr. Lenic Rodriguez, Aurcana's President & CEO, said: "We are very pleased to report record revenues up 20% this quarter compared to one year ago. The company produced 54% more silver ounces than it did in Q3, 2011. The increase in revenues was achieved despite a 16% decrease in silver prices this quarter compared to one year ago, Our La Negra mine was able to achieve a very low 10 cents cash cost per silver oz, net of by-products this quarter. The increase in production is expected to continue while we work to raise production capacity at La Negra and very soon start commercial production at Shafter mine in Texas. Aurcana is strategically positioned to become a senior silver producer."
THIRD QUARTER 2012 HIGHLIGHTS
-- Revenues in Q3, 2012 were $15.0 million a 20% increase from Q3, 2011. Year to date revenues were $40.6 million. -- Production for Q3, 2012 was 376,687 silver ounces, up 54% from Q3, 2011 and 718,063 silver ounces equivalent, up 67% from Q3, 2011. The year to date production was 1,037,210 silver ounces and 1,899,280 silver ounces equivalent. -- The cash cost for Q3, 2012 per silver oz net of by-products, was $0.10 and the cash cost per silver equivalent oz was $9.31. The year to date cash cost per silver oz net of by-products was negative at $(0.21) and the cash cost per silver equivalent oz was $9.05. -- Earnings from mining operation in Q3 2012 were $6.4 million, down 6% from Q3, 2011 due to lower metal prices. Year to date earnings were $17.4 million. -- Net income in Q3, 2012 was $3.4 million and $7 million year to date. -- Operating cash flow (after taxes before movements in working capital) for Q3, 2012 was $4.83 million and $15.23 million year to date. -- Ore milled in Q3, 2012 was 196,843 tonnes, up 64% from Q3, 2011 and 504,005 tonnes year to date. -- The average net revenue per payable equivalent silver ounce sold in the third quarter of 2012 was $25.79, 16% lower than $30.83 per ounce in the third quarter of 2011. -- The average grade of silver increased 7% YTD to an average of 80 grams per ton in 2012, compared to 75 grams per ton in 2011. -- Revenues, earnings from mining operations and production figures originate from La Negra mine.
La Negra Mine Highlights
-- La Negra released on August 28, 2012 a new compliant resource NI 43-101 estimated 115 million silver ounces Measured plus Indicated. -- Ore milled was 196,843 tonnes in Q3 2012, of which 57% (112,781 tonnes) was mined from NI 43-101 Measured plus Indicated Resources and 43% (84,062 tonnes) was mined from other mineralized zones. -- 32% increase in milled tonnes processed for a total of 504,005 milled tonnes during the nine months ended September 2012, (2011: 380,703 tonnes). -- La Negra cost per milled tone was 4% lower at $32.41 in Q3 2012 vs. $33.85 in Q3 2011. -- La Negra current installed capacity is 2,500tpd. The mine is now milling at a rate greater than 2,300 tpd. -- In order to allow for an increase in future production, La Negra mine is now working to increase mill capacity to 3,000 tpd in 2013. -- Mining operations and exploration drilling at La Negra continue to delineate additional mineralized zones, either between or as extensions of existing mineralized zones. Drill crews have completed 9,399 metres of diamond drilling during 2012.
Shafter Mine Highlights
-- During the third quarter, the Shafter Silver Mine in Texas continued the commissioning and testing of the processing plant. -- The open pit development continued during Q3, providing feed to the mill. -- Underground development also continued during Q3. Underground production of ore will commence once the secondary escape way is completed, which scheduled to be operational before the end of November 2012. -- The commissioning and testing phase is currently underway at Shafter Mine working towards achieving commercial production in late Q4 2012. -- Starting in late November 2012, the plant is planning to operate at a production throughput of 600 tons per day during the remainder of Q4. Continued development, as part of the usual ramp up phase, is required in order to sustain the ramp up to the 1,500 tons per day. -- In order to maintain and increase a consistent and continuous feed, additional thickeners have been ordered. The additional equipment will improve the dewatering process of the plant capacity enabling the mill feed to work towards 1,500 tons per day. The additional thickener tanks are expected to be commissioned by the start of Q1, 2013. They are expected to have a positive contribution to our production ramp up. The need for additional filter presses is also currently being assessed in order to understand the improvements they could provide. -- Shafter mine has hired skilled and experienced personnel and is continuously running training programs for the local workforce. During Q3 technical personnel from La Negra mine, have been providing valuable technical and operational advice to Shafter. -- During the third quarter the surface core drilling program was expanded with the addition of a second drill dedicated to the "near mine" area. The program focus continued to be the discovery of a plumbing system below the Presidio and Shafter deposits. Drill targets were selected on the basis of well mineralized historic intersections and or associated fault structures. Twenty holes have been completed to the end of the third quarter for a total of 23,764 feet (7,797 m). -- Ten holes intersected mineralization in the Shafter and Presidio mine horizons, results for which will be incorporated into the mine model.
Financial Statements and MD&A
About Aurcana Corporation
La Negra Mine current installed capacity is 2,500tpd. In order to allow for an increase in future production, La Negra mine is now working to increase mill capacity to 3,000 tpd in 2013.
La Negra has a NI 43-101 M&I resource of 115.1 mm oz silver (at a grade of 131.3g/t), 1,418.7 mm lbs Zn (at a grade of 2.36%), 539.5 mm lbs Pb (at a grade of 0.91%) and 269.5 mm lbs Cu (at a grade of 0.49%) and an Inferred Resource of 56.5 mm oz silver (at a grade of 126.1g/t), 657.4 mm lbs Zn (at a grade of 2.14%), 263.0 mm lbs. Pb (at a grade of 0.88%) and 132.3 mm lbs Cu (at a grade of 0.42%).
The Shafter Mine mill was commissioned on April 1, 2012 and is expected to commence commercial production in late Q4 2012. The Shafter Silver Mine is scheduled to produce 3.8 million ounces of silver over 12 months when is operating at 1,500tpd capacity.
Shafter has a NI 43-101 M&I Resource of 23.9 mm oz of silver (at a grade of 267.1 g/t) and an Inferred Resource of 22.79 mm oz of silver (at a grade of 327.2 g/t).
(All National Instrument 43-101 technical reserve reports can be found on SEDAR at: www.sedar.com).
Aurcana continues to focus on its future growth.
Aurcana Corporation is scheduling a webcast and conference call to discuss the third quarter 2013 results at 11.00am PST on Tuesday, November 13, 2012.
The webcast can be accessed via the following link:
Conference call details
Conference date: 13-Nov-2012
Conference time: 11:00AM Pacific Time
Participant dial-in number(s): 416-340-2217 / 866-696-5910 / 800-8989-6336
Participant pass code: 1204452
The Company's shares are also traded in the United States on OTCQX under the symbol "AUNFF". Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
The scientific and technical information contained in this news release regarding the Shafter Silver Mine has been reviewed by Ken Collison, P.Eng., Director of the Company, and a Qualified Person ("QP") and scientific and technical information contained in this news release regarding the La Negra Mine has been reviewed by Baltazar Solano, P.Eng., and a QP, as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Project)
This news release contains certain forward-looking statements, including statements regarding forecast silver production, silver grades, recoveries, potential mineralization, exploration result, future plans and objectives of the Company and the business and anticipated financial performance of the Company. These statements are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Exploration results that include geophysics, sampling and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classified as a category of mineral resource. A mineral resource which is classified as "inferred" or indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Actual results may differ materially from results contemplated by the forward-looking statements. Important factors that could differ materially from the Company's expectations include, among others, risks related to international operations, unsuccessful exploration results, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as changes in metal prices, changes in the availability of funding for mineral exploration and development, unanticipated changes in key management personnel and general economic conditions. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, oral or written, made by itself or on its behalf. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President & CEO
(604) 331-9333 or Toll Free: (866) 532-9333
Manager of Investor Communications
(604) 331-9333 or Toll Free: (866) 532-9333
(604) 633-9179 (FAX)
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
May. 1, 2016 11:00 PM EDT Reads: 1,584
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 1, 2016 07:00 PM EDT Reads: 739
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 1, 2016 06:00 PM EDT Reads: 1,145
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 1, 2016 05:00 PM EDT Reads: 1,009
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 1, 2016 04:00 PM EDT Reads: 925
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 1, 2016 01:45 PM EDT Reads: 1,229
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
May. 1, 2016 01:30 PM EDT Reads: 810
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
May. 1, 2016 01:30 PM EDT Reads: 1,570
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
May. 1, 2016 01:00 PM EDT Reads: 1,745
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 1, 2016 12:45 PM EDT Reads: 815
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
May. 1, 2016 12:15 PM EDT Reads: 2,324
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
May. 1, 2016 11:45 AM EDT Reads: 1,494
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 1, 2016 11:00 AM EDT Reads: 1,092
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 1, 2016 09:45 AM EDT Reads: 1,018
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 1, 2016 09:45 AM EDT Reads: 927
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 1, 2016 07:30 AM EDT Reads: 978
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 1, 2016 07:00 AM EDT Reads: 852
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
May. 1, 2016 06:30 AM EDT Reads: 2,502
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 30, 2016 04:15 PM EDT Reads: 1,705
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
Apr. 30, 2016 02:30 PM EDT Reads: 1,732