Probably never…
Some rich powerful people collect bottles of expensive wines, Romance-Conti’s Screaming Eagle Cabernet Sauvignon. Or 25 year old bottles of Macallan Scotch. Some collect Ferrari 275 GTB;s , Astro Martin DBR1’s or a Bugatti La Voter Norie.
Some own castles such as Ashford , Seton. Or estates like
Villia Leopolda.
Some own yachts or sailboats, History Supreme, Streets Of Manaco, Athena, Sea Cloud.
Some own Islands, Ronde Island, Lisbon Island.
Some own parts of mountains, Big Sky Montana, Beverly Hills, Zermatt Switerland, or the Andes in Chile.
I’m among one of those fortunate ones… and so are you.
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Huh ?
Did you drink all that scotch ?
I don’t understand your post
Birks… Some people just buy things of value to hold.
And just wait till their get more valuable.
Like a mineralized claims, on a mountain, in Chile.
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But maybe we will get lucky. I would celebrate to breakeven
TDK
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That is what we hold.
Actually you own shares in a company that has the rights to currently explore a mountain that has very preliminary evidence of mineralization. And those shares have been diluted by 90% over the past decade. Not really comparable to wine, a yacht or a castle. This being said, yachts share the same dilution of value. Just not at the same pace. Unless they sink.
If you are sitting on a $100,000 loss and sell your shares you can lock in that loss and, if you feel the urge to buy back those shares, 30 days later (which you probably won’t) you can offset any future gain with that loss. Or you can offset other gains. Saves you $30,000
I’m still waiting for a reason to buy my AUMC back. MDMN is worthless paper, or a best, untouchable given zero visibility on the float and/or transparency on fundamentals. I was hoping to meet with our Peruvian friends at PDAC but had to cancel b/c of concerns re: travel logistics/virus. I will plan on reaching out to them next week to see if anything is brewing.
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Gold crossed 1700. Where were we trading at when that happened last?
Nonetheless the value of the Alto keeps going up, but no return yet.
Yes B. I agree. The dilution by our previous greedy owners was one of the major kick in the b****s along the way.
. I’ve also locked in my share of losses from NPR,
CDCH, MDMN to off set gains if I ever want to sell a castle or two.
Most my Wine, Scotch and Cuban cigars were used up a long time ago before the
previous owners got greedy.
I still hold a couple cigars an a bottle in reserve, along with some stock,
for a seat on this bus in case it ever reaches the station.
I keep the faith, because, a looong time ago, another stock holder an I did
some claim boundaries overlays, onto a high-definition GIS system (you know the baby version as Google Earth). of this mountain. We even posted some on the old site for all to see.
While exploring this area of interest. One thing stood out! Lots of stone walls. .
We could have counted individual stones, in the miles of old stone walls somebody (Spaniards ?) had built around the top of this mountain. ?
“Somebody, had put a lot of work” into, protecting something of value, to them. ?
So I stay in the game… Partly because of that.
.
Hi CS,
When I first started researching and writing on the ADL Mining District, I came upon the work of a geoscientist named E.T. Finch. I believe he was retained by Shell Minerals at the time back in the 1970s. His interest was piqued when he sampled some of those walls that you are referencing. They ran very high in both gold and copper. The problem back then was the technology was so immature that the artisanal miners couldn’t extract much of the sought-after minerals. Back then they used these things called “trapiches”. Some of the tailings piles outside of the original LDM Mine were running 5.3 gpt gold after processing. Despite the lousy technology, even at the Fortuna Mine they were extracting gold running at up to 85 gpt. The production numbers weren’t huge but Rob Cinits at ACA Howe noted that nobody has even scratched the surface yet at the Fortuna area. Auryn’s trenching program revealed over 5,000 meters of epithermal veins having made it all of the way to surface. That’s insane.
Until about 20 years ago, modern geophysical techniques were never deployed at the ADL. Then C.S. Perez, a “remote sensor analyst” came along and did a “hyperspectral satellite imaging survey”. He found a 7 Km swath of “about a dozen” intrusives oriented in a SW to NE direction along the southern downslope off of the plateau. He estimated the existence of several hundred million tonnes of ore just in the upper aspects of this swath. This told everybody that whatever was contained in those “intrusives” there was a whole bunch of it there. Later Auryn did ridge crest sampling near the “South Road” at the western terminus of this “swath”. The copper and moly grades found EVEN AT SURFACE were excellent. For me, the question then becomes with what level of statistical probability can we assume that the other eleven or so intrusives would carry similar grades.
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Will all that mineralization ever matter ?
If this management group continues to do squat then we will still have our mountain and a crappy stock price !
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Wonder if Freeport is still poking around behind the scenes.
https://www.mining.com/freeport-to-grow-copper-gold-volumes-by-up-to-40/
Lundin is looking for new “unloved” assets in Latin America.
I have the perfect property for them!
Lundin looking for new deals as sons take leadership roles - Kitco.
You nailed it. It’s imperative for investors in or considering this investment that they understand the difference between the asset (the mountain) and shares in MDMN/AUMC. People who have been unable to distinguish the two have and will continue to lose money.
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More copper usage could have helped.
Copper is kinda our thing, should have more demand for our mountain.
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Thanks for the link to this article. This is fascinating and certainly has practical applications.
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Goldman Sachs says it’s time to buy gold:
Ummmmm … Auryn, sweetheart, please wake up.
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Yes, wake up and catch the wave.
TDK
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Are we do for Auryn year report and Q4 financials?
Perhaps the Wizard will let us know that…