From the last shareholder meeting and from correspondence from Patrick Day and Michael Labertew.
US - I agree with what you posted!
The shareholders need time to see what the value of AURYN becomes a couple of years out. It is evident CDCH is severely cash strapped. If there is another project with backers that would like to use CDCH as a shell after a successful free-trading spinoff (consisting only of current shareholders), then the shell backers need to be the ones to fund a free trading spinoff for the reasons already discussed. There is presently great concern among those shareholders with shares in an IRA. A private company spinoff should not be a consideration at this time as many of these shareholders would completely be left out of any future dividends that may become possible.
It is likely that those directors strictly seeing the CDCH shell as a vehicle for future projects have not properly considered the value of the AURYN equity interest in future years held by all current shareholders. Have they given any thought to the future value of 5% of AURYN at all? Those at the Las Vegas Informational meeting have. Mr. Labertew had reportedly made plans to attend the Las Vegas meeting, but had to cancel at the last minute to attend to other business. He missed a great opportunity to hear about the magnitude of the AURYN project first hand. His focus needs to be on current shareholders and not just future projects.
Thoughtlessly destroying the potential value of those currently invested here should not be left up to those directors whose only interest is strictly putting a new project into a shell. It is imperative that shareholders communicate directly with the two contacts provided by UsualSuspect to let their views be known.
Also, ahead of the upcoming holidays I’d like to sincerely wish everyone a Merry Christmas, Happy Chanukah, Kwanzaa and many blessings in the coming New Year … including health, prosperity, happiness and the time to enjoy it all!
For anyone I left out, have a Happy Festivus!
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Agree 100%
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I know this is old news and I have not been following CDCH too closely but what are people makeing of this announcement?
November 1st, 2016 Montan Mining Signs Binding LOI To Acquire Cerro Dorado And Closes First Tranche Of Non-Brokered Private Placement For $408,500
Never mind wrong Cerro Darado since this one is in Peru.
CDCH is clearly financially strapped. [quote=“easymillion, post:447, topic:928”]
It is likely that those directors strictly seeing the CDCH shell as a vehicle for future projects have not properly considered the value of the AURYN equity interest in future years held by all current shareholders.
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“The last I had heard around New Years, CDCH management had not contacted AURYN directly to negotiate a solution to their financial difficulties.” If you are a current shareholder, now would be an opportune time to use the contacts provided to voice your opinions if you have not already done so. Do it today!
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I sent a lengthy email to Patrick on 12/14 addressing these exact concerns and asking him to publicly inform us as to his plans and have received no response. As far as I can tell he is MIA!!!
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How can i PM you on this? I recieved a response from Michael Labertew today aftem my email to him yesterday. He claims CDCH is talking with Auryn about a financing arrangement similar to that concluded with Mdmn. Other details about plans too.
I’d like your opinion on the value of posting his reply since i’m not at all sure if it’s all old info or new…would it be of interest??
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Well, that’s something at least. I have tried to e-mail and call American Registrar and the two listed Security Counsels listed on their OTC page with zero responses, phones answered, or calls returned. Maybe they’ve decided to end the silence strike.
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Interesting … I received no response from my email a few days ago.
Check you email folder found under your moniker icon in the upper right hand corner.The folder is opened by clicking on the envelope (middle icon). Explore other features under the preferences icon (looks like a “gear”) on the far right.
About two weeks ago I was told CDCH had made ZERO contact with Auryn! So I hope this has changed!!
It will be sad if the first time they make contact is to ask for a loan. I think today is the cash call meeting day.
Yes, today is the meeting.
Not looking good for Cerro .0025 .003
Below is the full text of my email and the response from Micheal…
Also I received this response from Patrick a few minutes ago.
Gentlemen -
"I would like to add that Cerro Dorado will be represented by Power of Attorney at the meeting tomorrow and has expressed its desire for a vote in the affirmative with respect to the cash call. With that vote, Cerro Dorado will have 30 days to meet its obligation in order to retain its 5% interest in Auryn Mining Chile (should Cerro oppose the call and the call pass, Cerro would have no opportunity to meet it and would automatically be diluted).
Patrick "
There is nothing in any of these responses that that suggest any restricion on what I can do with them. I, therefore think they could be posted as info to shareholders and followers ot MP.
I won’t be able to get back to this tonight but would have no objection to you, or someone you might share it with doing the post. Otherwise I will get it out tomorrow.
Cheers…Larry.
From: “MICHAEL LABERTEW” michael@labertewlaw.com
To: “Larry & Mary McCafferty” larrymccafferty@shaw.ca
Cc: “Gary Routh” gbrouth@hotmail.com
Sent: Tuesday, March 14, 2017 12:26:22 PM
Subject: Re: CDCH Future Plans
Larry, thanks for your email. I’m also cc:’ing Gary Routh on this email, as he had recently reached out as well.
Patrick is in discussions with Mr. Cordova regarding a potential financing from Auryn, similar to what Medinah received, for its capital call. When I hear more about those details, I will share them promptly.
Regarding the company and its future, the plans are still consistent with what was disclosed and discussed at the May 2016 shareholders meeting and in subsequent discussions since that time, as well as some recent opportunities and developments:
- Option 1 related to the Auryn shares is to create and spin out a subsidiary with only the existing common shareholders, and register that subsidiary and its shares with the SEC, to hold the Auryn shares so that there is no negative tax consequence to any shareholders and no dilution to any shareholders. There will be costs to that, which I had originally thought would be less than $50,000, but in adding up all of the attendant costs of establishing a separate, trading entity, it will be closer to $75,000. As a condition for going that route, we will need existing shareholders to fund it, hopefully at a minimum investment per investor of $2,500, which means we would need somewhere between 15 and 30 investors, depending on how much they put in. Option 2 related to the Auryn shares is to have them held by a new, separate Cerro subsidiary, which although Cerro Dorado would be the 100% shareholder, it would be part of the consolidated public company, and we would create a separate class of preferred shares that would be owned only by existing Cerro shareholders, again preventing dilution and preventing any tax consequences. Those preferred shares would have special rights so that any distributions/upside from the Auryn shares down the road would only benefit these existing Cerro shareholders, and no new shareholders/ventures would get to share in any of the Auryn upside.
- We have identified several mining opportunities in Chile and Brazil, ranging from tailings to underground deposits, which will require $500,000 to $1m of investment. While such investments would cause some dilution, we are looking at issuing preferred stock and debt instruments, so that the investments would primarily be paid back from gold production, thereby minimizing dilution. We have been exploring opportunities such as this for over a year, doing due diligence and passing on some, finding new ones along the way. We have identified funding interest to the tune of about $500,000 so far, subject to additional due diligence and negotiation with the projects. We are hoping to have something definitive to pursue by mid April.
- We have identified an acquisition opportunity in the medical device space, a company in existence since 2012, that will do about $500k in sales this quarter, and we believe will do in excess of $3m by the end of the year, thus bringing a cash flowing entity into the group, albeit in a separate industry, and if brought in, would similarly be a separate consolidated, wholly-owned subsidiary. This would dilute the CDCH share holdings as a whole, but this would be in addition to the separate, protected shareholdings that would be in place for existing Cerro shareholders as described in #1, above, so essentially, a second, more diversified swing at the plate if you will.
- Given the timing of approximately a year from the last shareholder meeting, these initiatives (other than the Auryn negotiations for financing, which has to be negotiated prior to the next annual meeting of CDCH) would be put to the shareholders at the annual meeting of CDCH.
- There has been discussion about Patrick stepping down as a director, and about an Auryn director or Medinah director coming on CDCH as a director, both of which are preliminarily discussions, but could result in changes by next month or at the annual meeting as well. I would expect that we would hold that meeting sometime between the latter part of April and mid May.
- We are talking with an existing shareholder today about investing a small amount of money into the company in order to get the OTC Markets symbol current again and all of our financials posted. He appears willing to do so, and assuming the same, that would likely be rectified by the end of the month.
Hopefully this information is helpful and alleviates some concerns related to CDCH.
On Mar 14, 2017, at 12:11 AM, LARRY MCCAFFERTY larrymccafferty@shaw.ca wrote:
Hello Mr Labertew
Below I have copied an email I sent today to Patrick Day on the above subject. Since I have recently learned that Mr. Day may not be acting to respond or have responses prepared for the inquiries of shareholders in CDCH i would like to request that you provide me with a clarification of Mr. Days responsibility in this regard and answer my concerns articulated below.
I would like to thank you in advance for your attention to these matters and look forward to your reply.
Respectfully,
Attention Mr. Patrick Day
I have been a shareholder in CDCH for over 5 years. I have been troubled for most of this time that so little information is shared about the plans for our future. That situation seems to be intensifying and many of us are concerned about this secrecy and upset with the ideas of major changes, selling (or giving away) CDCH as a shell while not even attempting to consult shareholders of find options in concert with Auryn of MDMN.
I want you to know that I do not want any of my shares threatened by changes that I do not have an opportunity to vote on. That means I do not want you alone, our your attorney to decide in any unilateral way that the future of CDCH is in your hands alone.
Also I understand that many people among our shareholder base have asked for information from you and your attorney about these matters and have been ignored. I believe you and he both have an obligation of decency and integrityto respond to legitimate inquires about the future of our investment.
I anxiously await your reply to this matter.
Below is communication I have had and recieved from Patrick and Micheal in the past 2 days.
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“identified an aquisition opportunity in the medical device space”…this doesn’t sound good for the company’s future. 
I’m almost surprised they didn’t mention an apparel company in Barbados. 
I didn’t invest in a medical business.
I remember the days that Medinah was branching into becoming a travel agency as well as harvesting hardwoods from the Brazilian rain forest.
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