Lenic Rodriguez, CEO of Aurcana Corporation, owner of the Shafter Silver Mine in Presidio County, announced silver sales in the second quarter 2013 were “not material.”
Rodriguez also said any income from sales at Shafter were credited to capital costs. Therefore the sales will not be reported as income. As such, the Shafter mine has yet to report any actual sales of silver.
Aurcana has spent about $100 million to buy and update the historic mine.
The possible $50 million loan from Red Kite Mining, first expected to be finalized in July, then postponed to August is now expected to finalized in September. More soon and in our print edition out on Monday.