Hi EZ,
That was a nice summary of âgreatest hitsâ. You have experience as a physicist in the medical imaging arena, I expect great things out of you (and maybe a free CTScan or MRI). Here are some thoughts in brackets.
Dr. Sillitoe must have shared his âsecretâ report with brecciaboy is the only conclusion I can come up with. [I wish!]
Over the years and most recently, brecciaboy has summarized the detailed geology that has been provided and posted over the years by management. Maybe the âhintsâ of progress are just too well hidden âŚ
[I like that âhintsâ of progress approach. With only 5% of its shares in a free-trading status, management canât say anything that might induce, letâs say, 20-bagger run in the share price. Finra would be on them like a blanket. The two big market moving press releases would probably be firstly that the share distribution is finally at hand. This would end the corporate paralysis and free up managementâs tongue. The second might be stating that the 3 vertical raises are done and the final production permit is in hand. What âhintsâ are out there that the share distribution is finally a done deal and is coming. One might be the shareholder communication with management stating that as of last Dec. 15 weâve had permission to distribute the shares and we will do so âat the appropriate timeâ. The second communication stated the same but added that âthe appropriate timeâ will be when a certain article of work is completed. My guess is that Maurizio wants to do some type of âroll outâ of good news in conjunction with the distribution of the shares. This is only a guess. It might have something to do with the wind up of business affairs for Medinah so that Medinah and AUMC donât compete for the attention of investors choosing to invest in the ADL like they do now. Who knows?
As far as âhintsâ that production is not too far away the following items might be considered. Up until about 3 years ago when SERNAGEOMIN mandated 3 new ventilation/safety raises be constructed, production was basically imminent. The projections were that full scale production would take 6 to 8 weeks to ramp up, the allowable mining rate was set at 5,000 tonnes per month and the projected production rate was at least 25,000 ounces of gold in the first full year of production. The engineering and mine plan were already completed by a group of Peruvian engineers. Specialist miners from Peru were hired, brought to Chile, given their work permits and housed. Way back in December of 2018, management cited that the 3 raises were nearing completion. Dan Dumas of Dumas Contracting, which specializes in the operational side of mining i.e. providing needed manpower, was hired last August. These âhintsâ when considered in their totality, make a very compelling case that production is forthcoming.
In a parallel sense, what âhintâ do these facts provide? Do they not âhintâ that any financing tasks to pay for all of this was already taken care of? You donât make all of those moves and THEN approach financiers for money. We already received the news that Maurizio/AHC (his funding arm holding company) had received a $10 million line of credit from the Banco de Sabadel in Madrid earmarked for the exploration and development of the ADL. This bank has a subdivision that services the investment needs of ultra-wealthy families. Until the AUMC shares are distributed, I think that âhintsâ and the use of logic are about all we have to go on.]
âDr. 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.â
-originally posted by AURYN Mining SpA March 14, 2017
[Having studied many, many dozens of his scientific articles, I could take a guess as to what his report might contain. I think that he might remind Aurynâs management and staff that Chile is a nice place to explore because even though it is a very narrow country from east to west, it shows 6 different north to south oriented areas that feature âbeltsâ of certain deposit types. This is because of how subduction works. The ADL is located in the westernmost of these 6 regions. It contains the oldest rock in Chile (about 100 million-year old rock) which is referred to as the Early Cretaceous Period. This area features 3 different âbeltsâ of differing deposit types. There is an Early Cretaceous Porphyry Belt. There is also an Early Cretaceous Lacustrine Sediment-Hosted Stratabound Copper Belt and an Early Cretaceous Epithermal Vein Belt. Lo and behold, the ADL features deposit types matching these 3 belts. Within each of these 6 north to south oriented regions, all you need to do is to look to the north and south of your property to study a template of what your deposits might look like.
What Iâm sure Sillitoe will bring up is that up until the ADL was discovered, everybody thought that the Early Cretaceous Porphyry Belt ended to the north at the Llahuin deposit. The Pegaso Nero Cu-Mo porphyry makes a compelling case that everybody was wrong.]
âAll shareholders of AURYN will be treated equally as we move forward with our intention to access the public markets and provide eventual liquidity to all shareholders.â
-Sept 2017 [I think what Maurizio is saying here is that he realizes that nobody has been in a position to sell at a profit but those days may soon be over and a real MARKET will take over.]
âAfter that, the old tunnels will be enlarged and made safely accessible to evaluate the historical work, systematically sample the area, and consider mining plan options.
We continue to work on the Larissa and Merlin claims and are finishing the chimneys and exit routes. Once approval has been given, we will make a new cut on level 3 to intercept the high-grade ore vein uncovered in a new tunnel found between levels 2 and 3.â
-Dec 2018
New VP of Engineering â Dan Dumas, M.Sc., P.Eng.
Dan Dumas, M.Sc., P.Eng. will be joining Auryn Mining Corporation as VP of Engineering on August 1, 2019.
-July 2019
âA communication will be posted regarding progress and once an exploitation approach is decided.â
-Nov 2019
FWIW: Neither buying or selling for reasons as Iâve already stated in multiple posts. [Although I clearly donât follow that advice, I respect it. Depending on your level of risk aversion, it might be wise to WAIT for confirmation of the share distribution and the commencement of production. Even though youâll probably pay more youâll at least not have to wait as much. RISK and REWARD are almost always in synch. For now, an investor needs to concentrate on WHICH events are likely to free up the current logjam and perhaps recognize them when they appear to be imminent.]
