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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (49983)11/7/2012 10:33:05 AM
From: E_K_S  Read Replies (1) of 78748
 
BC Supreme Court Dismisses Sprott Claim
goo.gl

Aurcana Completes Buy Back of Silver Stream Purchase Agreement From Silver Wheaton
Wed, Dec 22, 2010 6:34 PM EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/22/10) - Aurcana Corporation (TSX-V:AUN - News) ("Aurcana" or the "Company") is pleased to report the buy back of the Silver Stream Purchase Agreement ("SPA") entered into with Silver Wheaton Caymans (Ltd.) ("SW Caymans") a wholly owned subsidiary of Silver Wheaton Corp. ("Silver Wheaton") is now complete. Consideration for the termination of the SPA consisted of a $US 25 million payment, and a final silver payment of 206,000 ounces. The security package on the assets of the La Negra Mine which were held by SW Caymans will be released accordingly.
Aurcana's buy back of their SLW contract on their La Negra Mine for $25M was a pretty good deal especially when their mineral reserves were increased in Q1 2012.

However, the stock is up big in the last year but I still believe the market has not fully valued the future revenue streams that both of their mines will produce. In 36 months the picture will become clearer and that's in line w/ my expected holding period.

Lastly, other than Canada, the political risk is low since these properties are located in Mexico next to the Texas border. It's the only pure silver play I currently own.

EKS
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