It keeps us in the dark again. Then that gets us into problems with the shareholders who do want to know the the details and the big picture. We are always imaging what is happening, guessing about a lot of things. Then that brings the wild statements that erupt on this board.
Iâm quite confident that Kevin has the judgement to determine what is appropriate and allowable to be released publicly to shareholders.
Iâm going to repeat this until Iâm blue in the face or until it finally sinks in with everyoneâŚThis is not the same Medinah.
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This action appears to have been filed by Medinah on February 16 with an âapplicationâ to the presiding judge made March 6. If I read the filing correctly, Ori Kowarsky and Kowarsky Ritson LLP had 5-8 days to respond after being served and the hearing was held last Monday. Any idea how long it will take the judge to make a determination removing Kowarsky and Kowarsky Ritson LLP as counsel of record? I expect weâll hear about it when it posts here: Agen IBCBET : Situs Judi Bola Online Terpercaya Pada Link Daftar IBCBET
Just wondering if a determination has already been made. Anyone keeping tabs of the proceedings as filed in the BC Supreme Court records? Will we hear something later this week?
Has anyone noticed something different on the MASGLAS site?
http://masglas.com/projects/
Am I missing something here? When was their âPremiereâ ADL property removed from the MASGLAS portfolio of properties and list of projects? Apologies if this has already been posted and commented on. Is this âseparationâ something that a potential JV partner would have required? Maybe something needed in preparation for an IPO? Has AURYN been restructured and no longer a subsidiary of MASGLAS? Was the cash call needed to restructure ownership and separate AURYN from MASGLAS?
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Yes they changed it they also modified the about us page where they took of the negotiation to acquire a copper project from a major. Maybe those funds that they were going to use are going to be used for production on the alto with auryn.
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The News about Medinah last June/July is gone also. I would expect to see something new released soon on their site. Everything about MDMN including the shares they purchased is gone.
Why wouldnât MASGLAS be interested in a JV for the copper Pegaso??? Maybe possible??
You may have something here easymillion.
It is probably a standard clause but I was a puzzled by the following paragraph in the update.
If Auryn Mining Chile SpA sells or transfers its rights to any other party and Medinah receives shares in another entity because of the sale or transference, the new shares that Medinah receives will serve as the collateral for the term of the loan.
[/quote]
Certainly appears that Masglas no longer owns their 65% of Auryn. I doubt that a Major suddenly acquired the 65%âŚie canât imagine Auryn giving up control of the Alto at this stage. Perhaps paying off the debt after the meeting this week puts of all Masglasâs ownership solely into Auryn being necessary for the IPO as you suggest? Maybe that was the main underlying reason for the cash call?
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[quote=âMikeGold, post:976, topic:1735â]
Perhaps paying off the debt after the meeting this week puts of all Masglasâs ownership solely into Auryn being necessary for the IPO?
[/quote] ⌠and aligned with the individual shares purchased in MDMN by those individuals in MASGLAS. Perhaps they now own not only shares in AURYN directly, but also the equity interest in AURYN via their MDMN share ownership. Win/Win situation. Kind of a circular ownership situation I have alluded to in the past. I think it bodes well for longer range plans moving forward.
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Looks like a lot is happening behind the scenes. Hopefully know more in the next month where we are headed.
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What if part of the money is to buyback shares ?
I donât think it will take a month
Hoping we know a lot more next week
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Don,
I agree with the clarity and accuracy of your explanation. Explaining that Medinah will enjoy a 27.5 cent dividend for every $1.00 of dividend AURYN Mining Chile issues to its shareholders is indeed good news. An additional twist, which I also consider good, is that although Medinah Minerals will maintain AURYN âminority control sharesâ these are not likely to convert to free trading shares directly to MDMN shareholders, at least initially. I do not expect the equivalent of a reverse merger that some have expressed here. Nor do I expect, as has been stated before, that MDMN shareholders will be receiving dividends anytime soon. The recent revelation that indicates that AURYN is no longer a subsidiary of MASGLAS lifts an apprehension I had that the potential for a future conflict of interest may have existed under the previous AURYN/MASGLAS corporate structure. There was a potential that AURYN profits may have been diverted in some fashion to promote and fund the advancement of the other MASGLAS properties. This no longer exists near term. MASGLAS is a long-term planner, and if anything, one or several of those projects may be acquired by AURYN long after a successful IPO and a very profitable cash flow from AURYN.
What will now happen short term (1-3 years) depends largely on how the legal entanglements of Medinah get resolved. I donât believe Medinah shares will receive a distribution of AURYN free trading shares until the court cases, legal fees and debt obligations are cleared off Medinahâs books completely. The silver lining on that is we know there are approximately 300 million shares of MDMN in the hands of MASGLAS associated shareholders that jointly own shares in AURYN and MDMN. There is now a clear benefit in aligning mutual goals of both companies. Both AURYN and MDMN are working together to balance the long-term success of the projects against the need for short-term results. Although it is too early to know how the details of a potential IPO will be structured, it will benefit shareholders of both companies. Now that debt is off the books of AURYN, what I would expect to see prior to that IPO event, is that any net cash flow from production will go directly to expanding AURYN production and exploration.
Ask size loaded once again 999000 @ .0059 1000000 @ .006 541000 @ .0075
Maybe itâs Les trying to sell so he can meet the cash call! lol.
If he is the 3.3% private investor I donât understand how Auryn doesnât strip him of that ownership or dilute him so much he doesnât own anything except an orange jump suit.
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Dr. Richard Sillitoe to Evaluate the Altos de Lipangue Mining District
March 14, 2017 @ 21:00
Auryn Mining Chile SpA (Auryn) is pleased to host Dr. Richard Sillitoe at the Alto de Lipangue from March 15, 2017 through March 19, 2017. Dr. Sillitoe is an independent international consultant and one of the worldâs leading experts on epithermal gold systems and porphyry copper systems.
Auryn CEO, Maurizio Cordova, and consulting geologist, Dr. Raymond Jannas, will accompany Dr. Sillitoe as he reviews Aurynâs exploration data and tours the property. Dr. Sillitoe will produce an evaluation report of the Altos de Lipangue Mining District at Aurynâs request. This report is for internal purposes. It will provide Aurynâs team with a fuller understanding of the diverse geological structures found at the Altos de Lipangue and help place them within an historical regional context.
Submitted on behalf of the Board of Directors
Richard Sillitoe graduated from London University where he went on to earn a Ph.D. degree in 1968. After three years with the Geological Survey of Chile and a Shell postdoctoral research fellowship at Imperial College London, he has operated for more than 40 years as an independent consultant to mining companies, international agencies and foreign governments. He has worked on a wide variety of mineral deposits and prospects in nearly 100 countries worldwide, but focuses on the epithermal gold and porphyry copper environments. Published research has earned him awards in Europe, Australia and North and South America, including the Silver Medal of the Society of Economic Geologists, of which he was President in 1999-2000.
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FYIâŚfrom 2006
International Epithermal Expert, Dr. Richard Sillitoe, Issues Geological Report on Aurelianâs Fruta Del Norte Project
TORONTO, ONTARIOâ(CCNMatthews - Aug. 23, 2006) - Aurelian Resources Inc. (TSX VENTURE:ARU) today announced that Dr. Richard Sillitoe, an independent international consultant and one of the worldâs leading experts on epithermal gold systems, recently visited the companyâs wholly-owned Fruta Del Norte (FDN) Project in south-eastern Ecuador. The results of his visit are summarised in a geological report entitled âComments on Geology and Potential of the Fruta Del Norte Epithermal Gold Prospect, Ecuadorâ. The report is not a âTechnical Reportâ as defined by NI 43-101, but the complete report may be viewed at www.aurelian.ca.
'Dr. Sillitoeâs report highlights not only the potential to find more mineralization at the FDN deposit" says Aurelian President & CEO Patrick F. N. Anderson, âit also demonstrates that additional blind epithermal gold targets may be found elsewhere on the Aurelian concessions.â
In his report, Dr. Sillitoe notes that âOn the basis of the preliminary drilling completed to date, it is already apparent that Fruta del Norte is a major, high-grade epithermal gold system.â The report assigns the FDN system to ââŚthe recently defined, intermediate-sulphidation epithermal categoryâ and notes that FDN ââŚcomprises three discrete gold mineralization types: a lower stockwork and vein zone characterised by crustiform-banded quartz, carbonates, adularia and base-metal sulphides; an overlying zone of massive silicification rich in iron sulphides, including abundant marcasite; and an apparently superimposed massive quartz vein up to 60 metres wide. Gold was introduced with all three mineralization types, although present evidence suggests that the first two contain much of it. Coarse, visible gold is seen to be an intrinsic part of the system and needs to be taken proper account of during resource estimationâ.
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Wow, so thatâs good news for us, he will see the great potential of the ADL, and let the world know or at least his friends.
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