The 2013 Earnings Conference Call will be at
The most significant highlights for 2013 were:
1. Silver Equivalent production increased 14% to 2,868,460 ounces in 2013 compared to 2,523,441 ounces in 2012. 2. Ore mined from La Negra increased 30% to 869,027 tonnes in 2013 from 670,930 tonnes in 2012. 3. Ore milled from La Negra increased 19% to 825,014 tonnes in 2013 from 691,260 tonnes in 2012. 4. Upgraded La Negra mill from 2,500 tpd to 3,000 tpd in 2013, a 20% increase in processing capacity. 5. Earnings from mining operations in 2013 decreased to
$11.5 million, compared to $25.0 millionin 2012, due to decreases in metals prices and producing lower grade silver. 6. Revenues decreased to $45.0 millionin 2013 from $56.9 millionin 2012 due to decreases in metals prices and producing lower grade silver. 7. Cash cost per tonne milled increased to $34.76from $34.39in 2012. 8. Production cash cost per silver equivalent to $10.00ounce in 2013, from $9.42in 2012. 9. Silver production of 1,255,444 ounces in 2013 compared to 1,374,166 ounces in 2012. 10. Shafter Silver Minein Texaswas put on care and maintenance on December 19, 2013mainly as a result of lower metal prices and their impact on the project's mineral resources.
The Company had earnings from mining operations of
The decrease in earnings from mining operations was related to the decrease in the selling prices of metals produced by the Company in 2013 as well as lower grades of silver. The loss resulting from the impairment of the Shafter property, plant and equipment, and Mineral property assets in Shafter mine, currently on care and maintenance had an effect of
During the year ended
The average price for sales of copper, silver, zinc and lead during the year were copper;
La Negra Mine Production Highlights
-- 19% increase in milled tonnes processed for a total of 825,014 tonnes during the year ended
December 31, 2013, (2012: 691,260). -- 7% increase in copper, zinc and lead concentrate for a total of 30,418 tonnes produced during 2013 (2012: 28,363 tonnes). -- Average silver grade per tonne was 60 grams in 2013 compared to 78 grams in 2012. The La Negra mine plan includes a transition to mining higher grade mineralized zones from upper levels of the mine in 2014 and 2015. -- Higher copper grades were mined in 2013 resulting in constrained mill through-put in 2013. A new larger capacity filter press has been commissioned in Q1 2014. -- La Negra's production increase was supported by 13,374 metres of diamond drilling for mining operations and exploration in 2013.
To read complete Financial Statement click on this link: http://www.aurcana.com/i/pdf/2013-Q4-FS.pdf
To read complete MD&A click on this link: http://www.aurcana.com/i/pdf/2013-Q4-MDA.pdf
Conference Call Details:
Attendee Access Information:
1-604-638-5340 Outside of
A replay of the conference call will be available immediately following the conference by dialing 1-800-319-6413 in
The Company's shares are also traded in
The technical information in this release has been reviewed by
ON BEHALF OF THE BOARD OF DIRECTORS OF AURCANA CORPORATION
Lenic Rodriguez, President & CEO
For further information, visit the website at www.aurcana.com.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aurcana Corporation(604) 331-9333 Toll Free: (866) 532-9333 (604) 633-9179 (FAX) www.aurcana.com Gary LindseyCorporate Relations (720)-273-6224 email@example.com Source: Aurcana Corporation