I’m sorry Kevin, but I’m not all impressed with Auryn’s website, the lack of transparency or the release of news. Sure they can hide beyond the status as a private company but why should I be happy about that?
Part of the reason Medinah has done so poorly over the last year is the fact that Auryn has provided very little detailed information about what is going on(choosing silence instead) and the news they have released has been on a rather irregular basis and incomplete.
Furthermore, they now have established a history of delays on the exploration programs on the Alto. I believe even Medinah was able to accomplish more drilling to date than Auryn has done and the fact that we have been waiting around since last FALL when Auryn stated would be the start on the drill program is rather annoying to say the least especially since they have yet to establish when drilling will start. (Yes Yes-I’m sure they have plenty of excuses…but like most investors…I want to hear about results instead!)
Finally, the Caren mining project is behind schedule as well by several months. When will Auryn start being timely?
Instead of pretending that Auryn walks on water, lets try to actually look at the Company with eyes unbiased by our historical Medinah goggles shall we?
I get it. It’s very simple, actually. There’s nobody at AMC for him to buddy up to that will offer backdoor BS to spew here week after week. The grapevine has all but shriveled up and poor MG has entered the realm of the average shareholder. Welcome and enjoy!
You two can please go ahead, join hands and sing kumbaya together to your hearts content if you like!
Meanwhile, I expect Auryn to become transparent to investors, actually start drilling instead of just talking about it, actually start mining instead of just talking about it, release news regularly, be timely, give dividends to their partners and make us all rich! Is that to much to expect from them???!!!
This coming from a guy who listened to and loved a decade plus of nothing but empty talk and lies. Seriously Mike, you have a problem with perception. You either like it or you don’t see it. Either way you don’t seem like you want to change it so have fun and, yes, Kevin and I will enjoy our singing sessions with our new and MUCH better situation.
Counter point…
it seems to me, and maybe I’m wrong, that amc/masglas has advanced this project further in the last year or so than mdmn did over 2 decades. I’m comfortable with their pace thus far.
in my view, they’ve done all the things you are complaining about (they are more transparent, they are have drilled and will continue to do so, they have plans to begin actual mining, what they have reported has been 1000000x more accurate and reliable than the old guard). It is true they have not claimed that they will be giving out dividends (i don’t expect those for a good while) but Les was they only one who ever mentioned that anyway, and we know how reliable he has been over the years.
SOOOOOOOOOOOO happy/grateful to have they dudes running the show. Very tolerable compared to what I/we have all dealt with since I bought in 2010.
Depends on how you look at it. Medinah certainly outlined more ounces of gold with the drilling they did at the Gordon breccia and did create a few large ore piles outside of the LDM mine which is more than what Auryn has managed to do thus far from the Caren adits.
When they actually start production at the Merlin or start drilling at the Pegro or publish a full report/reserve estimates of the rather amazing epithermal vein system discovery then they will have passed Medinah in a big way.
Certainly they are not more transparent than Medinah. We don’t even know who the Management team is for Auryn/Masglas or even a clue of what their balance sheet looks like or how much money they have. (The latest news implies not that much since they intend to finance exploration using cash flow from production.)
I’m not here to bash Auryn; rather I want shareholders to get beyond the honeymoon stage that some investors still have with them out of gratitude of all the years of putting up with crap from Medinah.
Who would have thought with all these great things happening and we are still trading at .015. I guess this stock moved better on rumors back in the day then material events🙄
[quote=“MikeGold, post:113, topic:1280, full:true”]…
I’m not here to bash Auryn; rather I want shareholders to get beyond the honeymoon stage that some investors still have with them out of gratitude of all the years of putting up with crap from Medinah.
[/quote]
I’ll jump on MG’s side for this statement. No need to give Auryn a pass on anything esp. execution expectations. I can agree with this. At this point, since they only completed consolidation and resolving the JJ share issue within the last couple of weeks - it is too early to party or to condemn. I am optimistic, however.
This one thing: http://aurynmining.com/project/
puts Auryn way ahead of anything Medinah ever accomplished. Yes Medinah completed some drilling 1999 / 2001 period - the golden Medinah age. And yes, Auryn’s work built in part on top of Medinah’s and LDMC’s earlier work. But we have been working over those Howe reports and living the ‘glory days’ for the last 15 years, waiting for next week. Give credit where credit is due. But imo you cant hold Auryn’s feet to the fire by referring to anything in Medinah’s past as an example of desired performance.
Auryn needs to deliver on their plans. I think they will.
The irony of this is that LP, JJ , and company had any real knowledge of mining instead of manipulating paper ( stock, titles, fictional nda’s etc…),
they could have made far more money a decade ago with far less dilution.
The A.C.A, Howe report gave them a great starting point. What did they do with it. I think we know the answer. They mined bullshite, fed it to us, and lived off the proceeds. It was a total lifestyle and we fed it. That has ended.
Time to get real.
I’ve been getting this kind of thought in private as well. Here are my thoughts on it.
2011 / 2012 was a pump and dump, IMO.
In 2011 we had 700,000,000 shares out. There may have been a short position as well. MDMN announced the Ulander deal. It was the first real deal MDMN announced after the LP / FBI financing. They announced it as a huge deal – 180 million and a 15% free carried interest.
Gold was the in a major bull market and moving fast. MDMN became a momentum player darling. From $0.03 to $0.17 in a period of weeks. It had gold players and penny flippers all piling in – with half the shares we have issued today.
The truth is that deal was bogus. My current understanding is it was fiction as published. The payments were going ot be on the back end out of production. Amarant never had the money or expertise and couldn’t find any takers on the deal. Along with that you’ve all read the other issues Amarant had.
Today we’re in or coming out of a bear market in metals. MDMN has almost twice the shares issued. They own 25% of AMC. In this market only producers are being rewarded. AMC is not yet a producer. AMC is also a new player on the block. It’s not like a major bought us. We don’t know who or how much is behind AMC / Masglas. For all the market knows, it could be LP / JJ / GC and Maurizio repacking the deal. It’s not, but because they’re private anyone can make those kinds of statements.
I’m of the same opinion TR is. MDMN shareholders have one thing to do. Watch and wait. AMC is the real deal and will explore, develop, and deliver. I’ve waited for 15+ years to get here. I can watch for the next 0 to 2 years as AMC goes into production and I finally get to make some money!
I expect the price to improve as AMC demonstrates their capabilities and executes on what they’ve said.
It is not that, but rather from a tax and cashflow point of view why pay themselves when all they have to do is keep their share of the cash for funding further exploration and development. They simply could elect to only pay dividends for the MDMN shares not own by Masglas and/or its subsidiaries. I seen it done before in a fertilizer company that I was invested in, where they only dividend out to the minority shares held by independent shareholders, fwiw.
