I feel like things still remain secretive with this investment. I’m over this BS!!!
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It just gets better and better - the nightmare. We have entered the twilight zone.
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[quote=“fadein, post:909, topic:1735, full:true”]
It just gets better and better - the nightmare. We have entered the twilight zone.
[/quote]not to be flippant, but actually we’ve been in the twilight zone for years, if not decades. What you’re seeing now is reality, warts and all…a reality that was consistently being hidden from shareholders by the likes of Les Price and JJ just to keep shareholders feeling good while they raped us all. From what I’m reading, Kevin et al are keeping the information on an even keel even if it may not be the brightest news for shareholders. They are not inducing news-starved shareholders with tall tales of fake JVs, free-carried interest, $5 price targets and the like so they can unload shares while we buy.
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Everybody here would be glad with ten times less, .50 
I’d be happy with 100x less at this point.
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CDO. You’ve got to be Big Babbon using a different alias. There can’t be two of you on this planet.
This capital call is fascinating to me. MDMN clearly can’t pay any money and Auryn is issuing this financing mechanism at a time when MDMN is still trying to sort out how many shares are outstanding while trading at all time lows. MDMN clearly can’t issue shares to meet the capital call so Auryn’s strategy is to either wipe out MDMN or wipe out some of the other private holders of Auryn (Les and the likes). Will be interesting to see and we will know soon enough.
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I am not Big Buffoon, gives me .05 and I am gone.
I found strange, we don’t have any update about production., they should start making money by now, not asking for it.
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Your second scenario is interesting
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The very sad truth, in a nutshell…it’s breathtaking…the audacity of greed. Then again, not one of those thieves from all the big investment houses spent a single day in jail over the 2008 implosion on credit default swaps, etc…welcome to capitalism. Adam Smith wrote in The Wealth of Nations that if you left two capitalists in a room, alone, for more than five minutes, they’d be conspiring against the good of the whole.
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We know that we own over 27% of AURYN. We know that MASGLAS owns 65% of AURYN. We understand that we are responsible for over 27% of the cost of operating AURYN. We understand that MASGLAS is responsible for 65% of the cost of operating AURYN. We know that AURYN has stated that they plan on moving forward with an IPO toward the end of this year.
We don’t “yet” know how AURYN is looking to come up with the future capital to fund ongoing operations. I would think the first thing they have to do is officially meet and confer with their shareholders to request funds and/or develop a plan to find the money. At this time, for all we know, this meeting might be just one in a series of steps necessary for AURYN to move forward toward the announced IPO.
Yes, this could be very bad for Medinah but it might be just a formality toward the IPO and instead of being a bad thing it might just be a simple step toward the IPO developing funds necessary to move operations forward.
At this time we appear to have two choices. One, come up with every gloom and doom scenario we can possibly conceive of or, two, wait and see what develops.
As was said, “Still to-be-determined.”
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Does anyone know where the Auryn meeting is being held? Does Kevin have to go back to Chile?
Well after yesterday’s garbage of an update from Auryn I’m going to pop some San Diego Local beers and get drunk. Don’t worry my fellow shareholders I will drink responsibly.
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“While in Chile I negotiated the sale of Medinah’s 15% interest in Nuoco. Medinah published news in this regard that disclosed we received an additional 645,000 shares of Auryn for our stake in Nuoco. The price was determined by negotiation with Auryn. Medinah had little leverage in the negotiation and we were leery of expected capital calls before exploration begins shortly. Given our financial condition, and the fact that via our ownership in Auryn we retain a roughly 28% interest in the Nuoco property, the board felt this was an acceptable deal.”
It seems that Kevin knew of the cash call?
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I think we should all trust that Kevin is doing the right things for us. And so far, Auryn hasn’t put any screws to us. Patience is in order, until such time as either of those would change.
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I am with you I too am relieved that Kevin is behind the wheel for us. I’m just saying that it seems that it’s no surprise to Kevin about the cash call. It seems that they must of gone through some details when he was in Chile.
News is out.
Everybody was panicking for nothing! Thanks Kevin you da man!!
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