If you realize a $600k loss you can use that to offset a $600k gain on other investments over the balance of your investing career. I’m making the assumption that people’s portfolios don’t simply consist of this little penny stock flyer. The $3k is nice but irrelevant to my point.
If you assume that MDMN is going to revisit people’s original cost basis and this is the only investment they have in their portfolio. You would be 100% correct in your assessment.
I think we are agreeing here. But if you don’t have a $600k gain to offset, you don’t need to lock in a realized mdmn loss this tax year in order to carry it forward. You simply sell the next tax year when you have the gain to offset it. If MDMN goes up in the meantime, yes your loss is now reduced but since you bought back in lower (via AUMC or 30 days after in MDMN) you are back to very low cost basis which will offset the tax savings you are capturing now. It’s all timing. The risk of trying to move many thousands of dollars to capture a timed taxed savings makes sense only if your specific situation calls for it and if you botch it, you haven’t saved anything.
I would like to point out that the price of gold was at $1138 when Auryn announced shipments of gold back in December 2016. If apparently it was close to or at profitability at that time, surely over $2000 an ounce would make the project economical?
I thought that Maurizio has some competent people advising him but I got tell you that it surely doesn’t look like that for what shareholders have been told. IMO, Mauirzio/Masglas have wasted their time on inferior properties elsewhere in Chile/Peru while at the real prize at the Alto, they havs accomplished almost nothing in recent years. Their project on the mountain started out okay but then what happened?
A small company that owns a complete high grade epithermal gold system that outcrops at surface near infrastructure just out of Santiago Chile almost never happens anymore. It doesn’t get better than that. So much opportunity has be squandered so far. Will that continued? I have been giving Auryn the benefit of the doubt that they have quietly have been accomplishing things behind the scenes but as the years go by, it seems a bit silly to think that.
Lets do this. When someone suggests that they have heard something or have spoken to someone regarding this investment, lets disclose WHAT they heard and WHO they heard it from. This gives us the ability to weigh the significance of the information. Other wise its just more commentary.
Locking up an option agreement with Hochchild should be viewed as a very positive development.
He needs to leverage these majors against each other and start producing his own revenue without anyone’s help to start lighting a fire under these majors asses. He needs money and the foresight to shelf his other stuff to get that underway. John seems to think it’s a financing issue, perhaps it is. Doc seems to think that we are sitting on a jewelry box. So what gives?
Maybe he is waiting for $10 000 gold. Seems to be the game he is in.
TDK
I follow this guy David Hunter. Seems to be on the money as far as the market melt-up.
Hochschild option was for the LDM, not for the Lampa epithermal. Hochschild has stopped work there and no longer mentions it in their filings. It is not to say that they won’t restart at some point but it appears dead in the water for now and Auryn hasn’t even bothered to mention it since July 2019.
Hochchild won’t walk from that option. Mark that.
I understand there should be work commencing elsewhere on the mountain. I agree
It’s time for Maurizio to stop hiding and give us something good or bad! At this point I really don’t care what it is. Give us something!
By the way it sounds to me John is getting his info from Cordoba himself.
If so, then John needs to state it as so. No more of this refusing to disclose the sources of information. I spoke to Raul and he gave me information and i disclosed it to this board. John can do the same and it will actually mean something to all of us.
If it is information he got from Cordoba then he can share it. If Cordoba told him to keep it quiet, then that’s a big problem for Cordoba.
I don’t understand these people not to update their shareholders, and they wan’t to run a public company?? At least with Les we had some action. lol!
Criminal action, and is a reason why we are where we are.
TDK
I’ve been saying the same thing for 2.5 years. My message has been consistent. My earlier comments to BB was that, as someone who was speculating to the extent he tends to do, it was amazing to me that he hadn’t spoken to the company to shape his views. Based on BB’s posts it was clear he had not. I know it’s a difficult concept to grasp for many on this board but there is a very wide gap b/w what is PR’d and what can be discussed with company management. All within a completely legal umbrella.
Did you hear this from anyone in management at either AUMC or MDMN? if so, who was it?
“given what I’ve heard you won’t be missing out on anything over the next 30 days or b) flip flop into AUMC.”
Baldy:
If your discussions with company management are all within the “legal umbrella” why will you not tell us specifically who you are speaking with and what you are discussing. I’m certain that all of us would very much appreciate it.
It has only been mentioned briefly, but it should be emphasized that any MDMN or AUMC that is held in a qualified retirement account would absolutely NOT benefit from realizing losses!
Half way there in one day.
Between you and me nobody knows how far the pull back will go. It could be it already happened maybe not.