Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian Aurcana Corp. (TSX-V: AUN, OTCQX: AUNFF) has updated the resource estimate for its La Negra polymetallic mine in Mexico’s Querétaro state.
The Vancouver-based company said its silver, zinc, lead, and copper mining operation now holds indicated resources of 15.2 million tonnes grading 130.12 grams per tonne (g/t) silver, 0.41% copper, 0.92% lead and 2.19% zinc.
Total Measured & Indicated resources were 27.02 million tonnes grading 131.31 g/t silver, 0.49% copper, 0.91% lead and 2.36% zinc.
The announcement drove Stonecap Securities to raised its price target on the company by 25% Wednesday to $1.50 from the previous $1.20.
Aurcana is a silver-focused mining and mineral exploration company with a producing operation at the La Negra Mine in Queretaro State, Mexico and the Shafter Mine in Presidio County, Texas.
