Cerro/Medinah/Auryn- 2018 Q1 General Discussion 🌄

I thought this might be insightful to see what it takes and how things can be financed to start a mining operation:

Monday January 08, 2018 08:36

The board of directors of Equinox Gold Corp. (TSXV: EQX, OTC: LWLCF) has approved full-scale construction of the Aurizona Gold Mine in Brazil, with the cost estimated at $146 million, the company says. Early-works construction began in the third quarter, and the company’s timetable calls for a gold pour by late 2018. “This will be a milestone year for Equinox Gold as we advance Aurizona and transition the company from a developer to a meaningful producer, with more than 135,000 ounces of annual gold production expected from Aurizona,” says Christian Milau, chief executive officer. David Laing, chief operating officer, says the tailings dam raise is nearly complete, the mills are ordered and significant earthworks completed in preparation for installation of the mills and other new plant infrastructure. Approximately $25 million of the budget was spent in 2017 during early-works activities. Officials say Aurizona construction will be fully funded with Equinox Gold’s existing treasury and an $85 million secured project credit facility, from which the company has drawn $15 million to date.

Would the seller just dump all his shares and be done already so we can move forward!

Off Topic…I think another thread for just discussing any stocks in general would be great. For instance, I am looking at buying some Under Armor (UA) and would love to hear what other people on our board have to say…

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A few of us have been using this thread Other Mining Stocks - #622 by bytal

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Maybe we should suggest they name the new company with Crypto in the name. Kodak got in the game and their stock price doubled today! Don’t you think the Crypto Mining Play has a nice ring to it :slight_smile:

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New topic created

I haved moved previous posts to that topic.

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Hi everyone. Sorry haven’t been around much. Lots of business travel. On the road for 3-4 of the first 6 weeks of 2018 including a few days of pleasure travel. :slight_smile:

Just wanted to give a shout out to the mods for doing a great job with this forum and a thanks to those who occasionally click on relevant ads. It keeps the server costs covered.

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Please stay in touch and thanks for all you do/did, past and present.

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What are the chances we go into another Chilean winter with No News as to what’s happening on the mountain? Sorry, but this has become a joke! A year has gone by since we last heard we were going into production and silence since then.

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Just a guess they would wait until the consolidation is complete before reporting mining results?

Mike then why put it out in the 1st place or just come out and say that?? Why the silence? It’s been over a year now since we saw the truck with ore head over to Enami

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Auryn now is under CDCH a public company and it’s there duty to report to the shareholders what’s going on the mountain. No more private

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While I would like an update as much as any other shareholder, technically CDCH’s current reporting tier on the OTC only requires companies to provide updates in the quarterly and annual filings.

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If people are not patient it probably is not in there wheelhouse to invest in stocks.
We live in a society today of instant everything. Stocks are not going to be like fly fishing where there is always activity. Sometimes sitting on the edge of a lake and bait fishing is more the stock market model. Impatience causes the fish to be scarred away. You have the right attitude Rick.

Yes I agree BUT there are people here for the past 15-20 years and are getting older and some have passed so patience does not work for them. Then again they have no choice to wait it out or sell and that is thanks to the crook Les. I just hope Auryn has plans already setup to take us to the next Level cause I hate being in the shitter for so very long.

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And our own greed! I was going for a homerun :wink: could have left with a nice profit.

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Yes definitely that also. Yes I remember the time wish I could turn back the clock.

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A few may have forgotten this media report from January 2016 (pg 5-7) that is no longer on AURYN’s webpage.
The article discusses MASGLAS properties while the ADL was still a subsidiary of MASGLAS. I believe that changed shortly after the article was written when the Okanadian lawsuit was first filed and followed by several others later in the year. Although it appears the backers of MASGLAS are still behind AURYN, it is clear to me that AURYN is no longer a direct subsidiary of MASGLAS. This should be crystal clear when the annual report for CDCH comes out. The article highlights the potential and strategic outline for developing the ADL that is even more evident in the multiple AURYN releases detailing progress through the first ore shipment and more recent organizational changes. :

Industry crisis creating opportunities for newcomers

… Working through 100%-owned subsidiary Auryn Mining Chile, the group is also assessing the mineral potential of the Altos de Lipangue property in the Metropolitan Region.
Auryn already holds an option over 4,000h owned by Medinah Minerals, another for 2,400h through LDM Nuoco and a third for 600h with a related entity. Through the options and the acquisition of another 4,000h by Auryn, Cordova and his team have managed to consolidate ownership of the whole property. Although drilled only sporadically over the past 15 years – due to the divided ownership and disputes between partners – Auryn believes the project has the potential for a significant mineral discovery, with low capital costs given its proximity to San ago.
Led by principal geologist Luciano Bocanegra (ex-Hochschild Minerals), the firm is assessing a series of opportunities across the property, including high-grade epithermal gold veins, signs of a strata- bound copper deposit and, further down the hill, tourmaline breccia.
Bocanegra is leading the assessment of the Fortuna/Merlin sites at the center of the property, which includes the Fortuna de Lipangue mine that produced gold- copper concentrates during 1950s-1970s from ore grading up to @ 20g/t Au. Through mapping, trenching and systematic sampling, Auryn has extended around 400m of known veins to over 5km. The focus is now on checking the continuity of these veins and the existence of blind veins through geophysics. Auryn recently acquired an adjacent property linked to a mining permit which could allow them to begin small-scale operation if sufficient ore is identified. Another priority is the Pegaso Negro site which contains significant evidence of a porphyry copper mineralization, including a tourmaline breccia and disseminated chalcopyrite.
Samples from an intrusive breccia at the site graded @ 0.4% Cu & 0.3g/t Au. “There is disseminated mineralization all over and we continue to find more – We could be begin talk about a porphyry system,” Bocanegra explained.
Exploration is being overseen by consultant geologist Aquiles Alegria (previously with ANTO), who recently sent rhenium- bearing molibdenite at the site for chemical dating at a laboratory in Canada. If the molybdenite proves younger than other mineralization, as Alegria suspects, it could have important implications for the potential size of any deposit uncovered.
Finally, work is continuing to identify mineralization at the Dos Marias site. Previous work concentrated on near- surface veins but geologists now believe they are in the presence of a stratabound -type copper deposit similar to others in Central Chile’s coastal range.
“Dos Marias has exactly the same mineralization as Lo Aguirre but development has been blocked for all this me by the ownership,” Bocanegra says.
Although the Masglas group already has a significant work ahead of it during 2016, Cordova says their ambition is not sated. With dozens of small and medium- sized mines under threat of closure from the drop in metals prices, the team is looking for operations which could benefit from an injection or a new strategy. “People are letting go of some really excellent opportunities,” he notes.

http://cexr.cl/wp-content/uploads/2016/01/CER34-ENG-SAMPLE.pdf

Yup. I had over 6 M in profit in Cerro and MDMN once upon a time. The way I see it, I deserve every day of waiting I get.

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Ohh…not cool. Been a long time since we had an opportunity to even get close!

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