While not a CDCH shareholder, I think Auryn should provide its financial statements to CDCH management/shareholders as 5% owners. While in US and Canada, we file quarterly and annually, but in most other countries, they only file semiannually and annual.
There is a big difference between a carried interest or a royalty, and an interest in a company. I never liked the idea of having an interest in Auryn, especially a minority interest. We are at the mercy of the men running the company. They can pay themselves big salaries, inflate costs, decide to hold funds in the company, use funds for exploration, etc., before paying a dividend. I think to many members on this board are under the false impression that just because production is going to start, dividends will start, and that is just not going to happen.
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and before them it was JJ I’ll take Auryn over JJ
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Should/could a provision be put in any agreement so this potential problem expressed by Usual Suspect is avoided? Something similar to a provision where the partner is not gonna put the project on the shelf but will actively develop it otherwise the agreement is null and voided??
I think you guys are worried about the wrong things. Masglas / AMC is in the earth mining business, not the shareholder mining business. They will be moving as quickly as possible to continue exploration, go into early production, and prove / sell the porphyry while hopefully retaining an NSR, and make $$$$. They’ll be making public disclosure well beyond what is necessary or required the entire way.
MDMN started as a paper play. It was a typical stock play on the OTC / “PinkSheets” of its day. JJ had a great property but no business sense and way overvalued the property vs capital and expertise. We’ve all suffered because of it. That’s NOT going to be the case with AMC.
Will we get price relief tomorrow or next month? I have no idea. But I do believe that the mountain is rich enough to overcome 1.3B and 250M shares that included a good bit of waste, and that within a couple of years we’ll be getting dividends that are close to the current price per share.
All my opinion only, and I’m confident in it.
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As some what of a side note, if you haven’t seen the movie “the 33” about the Chilean miners that were trapped a few years ago, go redbox it. Good flick.
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CDCH filings published on OTC on Apr 1.
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During February 2016 Cerro Dorado, Inc.’s ownership of Sociedad Contractual Minera
Cerro Dorado Chile increased from 50% to 99.8%. Consideration for the additional
ownership is still under negotiation.
The last shoe is yet to drop.
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So Aruyn owns the whole enchilada now, hopefully when they buy out MDMN and CDCH there opinion of their own worth does not change. Cause according to them 5% is worth $50 million and should only good up as they prove up the mountain.
Is cdch worth 12 to 25 million which is 5% of Auryn?
Shareholder Meeting May 2, 2016 at 10:00 AM in Salt Lake City to elect five directors, reverse stock split, approve $1,750,000 Rights Offering and approve pursuit of mining tailings reclamation.
Why would they want to R/S that’s death for a pink sheet stock hope shareholders can vote against it. Also they don’t have that many shares outstanding.
Rights offering means they are looking for the money from existing shareholders. I thought the Days were smarter than that. They should just sit of their Auryn shares and distribute proceeds via dividends.
Interesting stuff with short notice, looking forward to hearing from Baldy, TR, and Hurricane Rick on this one.
So on the Rights Offering, is that .007 per share for the 506% ROI?
I’m not “Baldy, TR, and Hurricane Rick” but perhaps I might shed some info :
Unfortunately, the Days (I assume that it is they that own the 500,000 preferred shares) will have 1,000x500,000 = 500 Million votes compared to the 285,833,350 votes for ‘regular’ shareholders.
Which means that they have 63.6% of the votes. SIMPLE MAJORITY CARRIES THE VOTES !
Sorry folks, we’re out of the picture again !
Rod
URL please