Agreed that Les wins. It warms my heart to see that one can get away with such egregiously illegal actions and escape unscathed…and all legal fees paid with money he stole from the people who brought suit against him.
MDMN basically is saying - well just give us whatever you still have officially on the books in a few companies you have fleeced over the years. You can keep everything you have lavishly spent over the years and whatever other cash you have managed to stash away.
That is the way I’m looking at it. Count on nearly 3B shares outstanding. What a joke. Les absolutely killed any chance this stock had at being something special which is exactly what Les, and his hoards of cheerleaders were telling us this was going to be - a ATM (looks like it turned out that way for him and a couple others).
I really believe JJ (our fatherly family figure) is the biggest culprit and bastard in all of this. That guy sucks. His reputation in Chile (and SA) has to be in tatters.
Haha. The cdch Vs Mdmn debate continues to rage. I Have no idea how either one will turn out. MDMN seems pretty low right now (or is it?)… I own WAY too much of both.
I don’t know how accurate that estimate of ~ 3B shares outstanding is.
From the 2017 Q2: Cede & Co. # Of Shares Beneficially Owned - 2,147,184,846 (74.54%) Maurizio Cordova # Of Shares Beneficially Owned - 218,783,318 (7.6% )
It appears to me that the missing shares are either restricted and/or in certificate form. CEDE & Co. represents the free trading shares in the market.
There is no debate. It is simple math. Determine a value for Auryn, multiply that by each companies % ownership and divide by the number of outstanding shares then divide by the current pps.
Example:
Auryn value is $100million
MDMN % ownership is about 27% = $27million
CDCH % ownership is 5% = $5million
$27million/3billion shares = .009 per share
$5million/300million shares = .017 per share
.009/.004 ( current pps ) = 2.25 times
.017/.006 ( current pps ) = 2.83 times
At this moment CDCH is 26% more valuable than MDMN
The critical variable in this analysis is the relationship between the two pps.
Couple hundred dollar in trades and it will back down below Medinah. Not sure why you continue to pump that stock. It is has few market makers and almost no liquidity making it almost impossible for any one to move a significant position in or out of it. The shares outstanding will help those that currently hold a position convert to Auryn shares when the time comes but till then…give it a rest. For those that want to actually make some significant money, Medinah is way to go for any new share purchases. You can pump and whine and call people names but it isn’t going to help Cerro any.
For some others, all things considered the legal outcome was probably the best we could have reasonably hoped for. If it is any consolation, most likely Les is ruined financially, will likely never recover and his next heart attack will likely be his last.
I’m thinking Les would have had pretty much no reason to “settle” had the share price been a lot higher. So, the depressed share price was actually a blessing as far as that is concerned.
I know we are saying that Les no longer has an ownership interest in MDMN, but are we sure his family members are out as well? Does his daughter own any shares now? If I was standing in Les’ shoes at this point, I think I might want to own MDMN through my daughter or another family member. That way, if I was having creditor problems, my creditors could not get to that money (as long as she obtained those shares separately and Les did not transfer them to her).
Yes, it is hypothetical but the formula is constant. Determining which stock is a better buy is a function of dropping in the numbers, whatever they are.
I own an equal number of shares of both. People are arguing about which is better going forward. Its not a debate. Drop whatever numbers you want in the formula above and that will determine which stock you should put your money into at that particular time. One day it might be MDMN and some days it will be CDCH. At this moment it is CDCH. Monday?
There is no real argument here. I find it mildly entertaining to goat Baldly and a few others about Cerro since they spam this board for the last several years which isn’t very proper.
Hey Mike are we getting ready for the naked run and eating the goat cheese. The goat cheese will be pretty ripe by now after being in the fridge for years!
If one uses the figures provided in the current Q2 (2.2 B shares between CEDE & CO and Maurizio + 1.7M Preferred upon conversion) it would seem the math works out a little better for MDMN to at least 0.01!
You can’t use 2.2 billion (higher) nor 300M for CDCH (lower with Les’ shares cancelled). It’s also worth noting that CDCH has doubled and MDMN has gone down 50% since the “arbitrage argument” was first made.
I don’t know about anyone else, but I will lose big time. Why would anyone sell at this point unless you have millions of shares. Is anyone thinking of holding on to their Auryn shares?
I wish that Les would end up in jail and be there for many years. I also agree that his family probably now owns millions of shares of MDMN.
Yes, Our thanks to Kevin and Gary. But… will Gary give his stock and interests back to the treasury??
He was just as negligent as the rest in violating his fiduciary duty to shareholders. If not, he may be the only one of the past board members to withhold. That’s just not right.
There is no shame…it was a great investment. If Les didn’t conduct criminal activity and Juan accepted a deal from a Major…everything would have been different. You seem to have a real problem getting over things that happened year(s) ago. Let it go-it’s not good for your ticker. FYI…Cerro is POS mostly because its chief pumper is you. And by the way, do us all a favor and take your Gary Goodin obsession off the thread. If you a problem with him, please contact him directly instead of whining about it him here on this thread. After repeating yourself 100 times, it gets rather old.
zotron8h
This statement from the 6/30 quarterly report seems to confirm that MDMN will either be bought out or MDMN will distribute its Auryn shares to individual shareholders, Either way MDMN will be history at some point in the near future.
Note 6 – Directors Fees
The Board of Directors passed a resolution on March 1, 2017, to compensate Board Members and
Corporate Officers with a total of 1,000,000 shares of AURYN stock. That compensation is for corporate
governance through the anticipated existence of the Corporation. The entire amount has been expensed
(at the reported value) in Q1-2017 even though a portion is for future services.
This sounds like it could explain the shift in percentage.
