by Carolina King
Rumors that seem to circulate from time to time about Ouray Silver Mines going into production and hiring a massive amount of new employees look to be materializing in the relatively near future.
Ouray Silver Mines was acquired last December by Aurcana Corporation. The previous owner, Lascaux Resource Capital Fund, which is still a significant shareholder, did a feasibility study in 2017 that revealed the mine could make $77 million with a cost of somewhere in the $30 million range.
The company is in the process of raising the final amount of money for the project to begin.
Brian Briggs, CEO of OSM and newly appointed Chief Operating Officer of Aurcana Corporation, said the timeframe for completion of financing, though still unknown at this point, could be any time between June and August, after which there would be a three month closing period.
OSM will need strong, conventional miners
OSM has 16 employees, including...