Great, then Maurizio should give it to someone who can monetize the mountain since he cannot.
That is exactly the risk I’m highlighting.
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There’s no visibility of the financing one way or another therefore there’s a real possibility that we could see a penny at any time. Baldy has always preferred the glass half empty. I’ve always preferred it half full. 
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Jesus still nothing!!!
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To our Santiago friends.;
Ok guys. The weather down your way has been warming above average.
Your in the 60 to 70s, spring has sprung. The snow and water supplies should be thawed out by now. Roads repaired from spring wash outs.
Ice road truckers running supplies up them.
Fuel Supplies replenished up on the mountain.
Equipment serviced and fueled up.
New labour force on site with new C.C.P. virus restrictions in place and new yellow vests. New batteries in the work lights.
A new cooky in the mess shack making coffee and doughnuts.
You’ve all put on a couple pounds sitting around (locked down) all winter. Time to make the family proud.
You only got 4 months till the winter winds come back.
“HIT IT” ! Fire up the pumps, drill equipment, and lets get rolling!!
**If you need some help??? we can send some down. We all could have dug enough by now with pick and shovel to have kept us interested.
Show us the yellow… Thanks by the way.
:: I’m off to cut firewood… going to be a long winter… Ü
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687518 at .00065 just now. Must have been a market order. Someone wanted out. Wish I had gotten those shares.Back to .0013 now on low volume.
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$465 … why? Just end the pain and suffering.
This company and group continue to be a joke.
I see one day, it just turns 180 when gold at $3000+
Like I said, winning the lottery.
Tom
Most likely to take the loss and offset gains. Anyone invested in any asset class this year has them (gains). Smart move as its almost guaranteed nothing is going to happen in the next 30 days and one can always buy it back. Or buy AUMC.
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Yes, nothing will happen. But I guess his cost and not in IRA. The body I am in.
Should have made to Roth conversion this year. Not 2018.
TDK.
Tom,
Baldy hit the nail on the head. I believe i can take this money and actually make money rather then watch this investment gather more dust. I still own millions of shares in MDMN just selling a small portion. My wife and I have thought and thought about this and decided to sell. You made the comment I see one day, it just turns 180 when gold hits 3000+ I have lost that dream. My wife still has hopes that’s why we’re still invested in MDMN. Now, my dream is back trying to turn a negative to a positive. I just wanted to share this with everyone because sometimes you wonder why people do what they do…this is why.
Wayne
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Wayne,
It’s such a small part of my current net worth.
Like 0.2%…my cost when I bought 20% in 2010. Should have sold when it hit 15%, 10%, 5%, 1%… but I had faith.
But after reading your message, you may be right.
But when I sell, something will happen. Lol.
Thanks Wayne for you enlightening message.
Tom
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Thanks Wayne.
Yea, I did the same for my kids Ira’s I helped them with in those Less years. Ha! some help I was.
They made some of it back since then. And meanwhile they would have sunk lower keeping the dream alive. I still have skin in the game.
As I have pissed away money before on worse stocks.
For Me the stock market is like my driving. The more I keep my hands off the wheel, the better I am. Cs
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Hochschild’s latest presentation: Results, reports & presentations | Hochschild Mining
No mention of the LDM. They did increase their Greenfield budget for 2020 slightly from $8M to $9M.
They suffered from COVID lockdown. But they are definitely starting to see the benefits of higher silver prices. They will be looking for places to spend money in 2021. We should look for a re-mentiond of the LDM in the annual report early next year, late Febr. If it does not re-appear that would become concerning I think as they would be down to 2.5 years to complete their JV work.
I am guessing since they view it (as of 2018) as a gold/copper play according to the early PRs and they found a new place to spend money with their new rare earth project they acquired in Chile, that the LDM was put on the way-back burner until they had more money and also for copper to start showing some life. With the recent news of China starting to stockpile commodities and prices all over starting to improve, this should also work in Auryn’s favor in 2021 to motivate HOC.L to get moving.
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Absolutely true DOC!
95% of the shares will not become free-trading when all AUMC shares become unrestricted. The question I’d be asking is why would anyone want AUMC restricted shares unrestricted with the current prices so far depressed? As has been pointed out many times the number of free trading shares is small with only 2.940,747 in AUMC’s “public float” that are free trading. In the June 30, 2020 and 2019 filings and disclosures (Q3 - 8/14/2020) there are 70,000,000 shares of common stock. Also, “there are no existing promissory, convertible notes, or debt arrangements.” In note 4 it states the company holds a mining option contract with a related parted, which is likely referring to the Hochschild option, but also states certain stockholders are owed $78,847, apparently upkeep on concession fees that were paid. Of interest is that as of MDMN’s last Annual report (12-31-18 - filed 4/15/19) only 7.71% of shares were held by Masglas Limited (control person is Maurizio Cordova, also includes CEO’s shares) which represented 24.217% equity stake in AURYN and smaller stakes in two additional public companies (Hmmm).
Shareholders should note that AUMC has 100,000,000 shares authorized.
What would be the point of releasing progress beyond what is in the Q3? Unrestricting shares without valuations and progress on the Caren Veins (Larissa adit), the Fortuna, or the Pegaso Nero through further drilling or JVs is strategically senseless for the survival of the company. If people want to trade MDMN stock at this time, fine, I just have no interest, but I retain a large holding in MDMN and AUMC (also a small number of shares in AMNP from way back) that I have considered a full position for more time than I care to count. I, and others, have mentioned many very tradable and speculative stocks in the “Other Mining Stocks” and “Charts for Metals Stocks” threads. Better money to be made there in other mining companies with greater liquidity at this time. The primary reason to unrestrict the AUMC shares is to use the 30,000,000 treasury shares currently held in reserve to fund aggressive mining and production. This will likely be after the delay in the expected small production of gold can be announced and publicized.
Continued work is planned during the second half of 2020 to expose the vein along strike and at a lower depth. A small production of gold is expected. The COVID-19 virus has affected Chile substantially including health and business. It has slowed many advancements and in certain cases stopped activity altogether. The situation is being monitored closely.
Hochschild has the Las Dos Maria “tied up” with a binding LOI until December of 2023. Nothing to report there for the remainder of this year as far as I can tell. Maybe something next year? Hochschild has a large gold mining project in Chile, the Volcan, as well as four silver producing mines in South America. CHG just mentioned the possibility of next year. I agree, although I was definitely counting on something before the 5 years is up, especially if they want to exercise that 60% ownership option in the LDM.
I can agree and disagree. It has hindered progress greatly. I have not ignored the 30 million treasury shares that have been planned to be used to finance production for a very long time, but not at current prices of the stock. I have not ignored other intesting developments that add to the speculation. A couple month’s ago breciaboy (BB, DOC) mentioned MASGLAS placed four concessions into AMNP. Hmmm…AMNP got caught up with it’s filings and is current on OTC and already owned the Caren and Pangue placer property. Again Hmmm…Does it matter that 78% of these same AMNP’s controlling Officers, Directors and Control Persons are basically the same as MDMN’s and AUMC’s Control persons? OK, AUMC only has about 11.6 million shares of AMNP, but there are only 28.2 million shares in the public float (unrestricted shares not held by a control person or family members of officers). Again Hmmm. Medinah owns these 11,650,000 shares of AMNP and 291,500 shares of AUMC.
Other BB posts you may want to reread (actually all of BB’s post are worth rereading if you’d like to understand the geology and value of a potentially world class mining property on the ALTO and surrounding areas):
June 12, 2020
One of the more informative press releases which was made by AURYN Mining Chile (the private company) was made on 9/17/15. I’m going to guess that less than 5% of the current Medinah shareholders recall anything about this PR. The following is the critical portion of it: [my comments are in brackets]
AURYN Mining Chile SpA Unveils Weighted Average of 26.9 g/t Gold in 200 Samples ~Bonanza Grades of up to 66.5 g/t Gold~
June 15, 2020
Dec 2018 - BB Jun 15
-Dec 2018
New VP of Engineering – 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-“A communication will be posted regarding progress and once an exploitation approach is decided.”
The main thesis of BrecciaBoy has not changed at all. This is a long-term play, very speculative with very promising geology, but with patience “the Never Ending Story” is all being revealed chapter by chapter. I’ll take it to the bank when I can actually take it to the bank. Until then, I will wait. Might as well make some bank with the other miners that are definitely in play. Enjoy the week-end.
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This is the second paragraph from Note 5 of the 9/30/19 financial report:
“The Company holds a mining option contract with a related party. During the nine
months ended September 30, 2019, 10,568,309 Chilean Pesos or approximately
$13,610 USD was paid by that related party to the Chilean government to maintain the
mining concessions mentioned in Note 4. These funds will not be refunded by the
Company and are no longer payables of the Company and have therefore been
excluded from the income statement for the nine months ended September 30, 2019.”
This is the first time this note has appeared. The assumption has been that this is the option agreement with HOC.
I dont feel this is HOC as it states that this agreement is with a RELATED party. It also states that the monies paid out are for mining CONCESSIONS and will not have to be reimbursed by the company.
This appears to me that AUMC has entered into another option agreement with Maurizio, Masglas? It is also when AUMC stopped further communications with shareholders.
Change of plans?
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Hi EZ,
In regards to your statement: “The question I’d be asking is why would anybody want AUMC shares unrestricted with the current prices so depressed”, I think
the answer is that the PPS of AUMC is likely to remain depressed UNTIL those shares are unrestricted. The current scenario with those shares remaining
RESTRICTED has left AUMC and Medinah as being 100% nonpromotable. Most prospective investors don’t know what you do about the Rule 144 implications and the
receivers of those UNRESTRICTED shares (Medinah shareholders and management) and just how tight the AUMC share structure is going to be POST-UNRESTRICTING.
Conventional wisdom would assume that those new shares will increase the SUPPLY of shares that are likely to be sold during a given timeframe. The reality
is that the owners of 24% of those about to become unrestricted shares are down a 10-bagger. These are the current Medinah shareholders. My assumjption is
that if they haven’t sold after all they’ve been through then they’re probably holding off on selling until they either break even or get a lot closer to
breaking even. The portion of the currently restricted shares belong to the owners of Auryn Chile the privateco i.e. management, will face the 144 resale
restrictions as well as the fact that their open market purchases of Medinah shares are down even more than the average shareholder. So conventional wisdom
might say, look out below, the PPS of AUMC might tank with all of this new SUPPLY coming into the market the reality is that this new SUPPLY is not "likely
to be sold SUPPLY" until share prices are much, much higher. In other words, instead of the share price falling out of bed it might actually gap upwards
post-unrestricting especially if management has an incentive to be more communicative.
The share price of AUMC is about to become the currency for management to execute their plan in as nondilutive of a fashion as possible. Maurizio clearly
has big plans. With only 5% of a company’s shares being free-trading, management is hamstrung from doing very much. No financier would want to buy shares
and hand management cash UNTIL the conventional wisdom theory is ruled out. Why take the risk? I don’t think that most financiers have ever seen a company
with only 5% of its shares in a free-trading status. Likewise, Maurizio is obviously not going to sell shares at these levels when the option is available
to just go into production at whatever scale COVID permits. There’s no liquidity currently and there’s a large spread between the bid and the ask because of
the diminished supply i.e. a float of 2.9 million shares. The average potential investor doesn’t know that the holders of those 2.9 million shares i.e. the
old Cerro shareholders are down a 10-bagger from breaking even. Keep in mind that Maurizio owns a big chunk of those remaining 2.1 million old Cerro shares
adding back up to the 5 million shares of AUMC currently “outstanding”. The sooner that the unrestricting process occurs, the sooner the "conventional
wisdom" theory can be disproved and the sooner the share price can advance so that any funding using the sale of shares can be as nondilutive as possible.
Maurizio wants this because he owns about 73% of the AUMC shares. I read the criticism of there being no visibility of a financing mechanism. Of course
there isn’t until after the AUMC share distribution occurs and the market equilibrates at whatever level it chooses. Then a decision can be made as to how
to finance whatever plan is chosen. The choice of a mining plan can’t even be made until after the distribution occurs and the market edquilibrates.
An investor wants management to own a huge percentage of the shares with Rule 144 restrictions from resale. New investors want existing shareholders to be
down a “10-bagger” from breaking even. All of that “SUPPLY” is not what might be characterized as “likey to be sold in the near term” SUPPLY. I wouldn’t
buy shares of a company with the average current shareholder sitting on a quadruple with their finger on the sell button. For me, the key is that the reason
for Medinah being down 99.7% from its previous high has nothing to do with either the bona fides of the assets or the capabilities of the current management
team.
This extremely complicated scenario we’ve been living through has caused a DISCONNECT between the value of the assets and the share price/market cap of
either Medinah or AUMC. There is a certain ATTRITION rate playing out right now. Frustrated shareholders are 100% justified in saying to heck with it, I’m
selling today. Nobody can blame them one iota. This past week the share price went from about $.0013 to half of that in the blink of an eye. Did the value
of the assets get cut in half on that day? No. A very nice person made a decision that was proper for his family at the time. There’s a lot more to peace
of mind than the digits in your bank a/c. To show you how crazy things can get, not too long ago management, theoretically aware of the true value of the
assets, bought a huge chunk of Medinah shares out of the open market at 100-times the amount that those shares fetched last week.
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Zotron, you bring up a very interesting point on the wording of Note 4. It may be a definite possibility, if not an actual probability of Maurizio’s involvement and MASGLAS having a larger plan in progress. You pick-up very astutely that it may have nothing to do with HOC. It is carefully worded and providing deliberately obtuse information. I’d call it speculative at this point until it is clarified. I look forward to this becoming an important piece of Maurizio’s plan to bring these properties into production and assigning valuation instead of foreshadowing of things to come.
Also, I wanted to correct the unintentional June 15, 2020 date I referenced and attributed to BB.
The actual reference from BB was from Apr 25, 2020 and by inference a post from mrbubba from July 19, 2019. Again, I’d remind shareholders here they may find a greater depth of understanding by rereading past posts.
1st Half General Discussion 2020 - BB Apr 25, 2020
… The good news: In December of 2018, Auryn management notified shareholders that they were getting close to completing these 3 raises. Then management went into quiet mode. In July of 2019, management cited the hiring of Dan Dumas of Dumas Contracting. Interestingly, he was appointed as VP of engineering for Auryn. Dumas takes care of “operations”. They hire mining people for projects in Canada and South America and who knows where else. Their ads on the Internet today are soliciting for: blasters, construction leaders, “raise” miners, “Alimak” mechanics (used in constructing vertical raises), underground mine trainers, shaft leaders, “jumbo” operators, etc. A lot of these openings are in Canada and South America.
My assumption, and there’s no guarantee that it’s accurate, is that you don’t retain an “operations” guy of the caliber of Dumas unless you’re pretty convinced that production is commencing in the not too distant future. I’m not sure of the significance of Dan Dumas himself taking on the role of V.P. of Engineering of Auryn. It seems like he’s got enough going on worldwide to keep him busy. Of course, I though the same thing about Dick Sillitoe getting involved.
The Dumas announcement was made 9 months ago which would account for the necessary “lead up” time in preparing for production. I’m going to assume that management feels that final production permitting is near at hand. I’m assuming that they wouldn’t make the same mistake twice in terms of the timing of the commencement of production. Again, no guarantees but in an informational vacuum like we’re used to it might stand to reason to take a more “granular” approach to studying management’s comments WHEN THEY DO COMMUNICATE.
3rd Qtr 2019 - mrbubba July 19, 2019
AURYN Mining Corporation (OTC: AUMC) is pleased to inform its shareholders about the following updates.
New VP of Engineering – 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. Dan is a Bachelor, and Master of Mining Engineering and Professional Engineer. He is a proven leader with operations experience and strong business acumen. He is the Founder and CEO of Dumas Contacting Ltd. Dan is a strong addition to the AURYN team and will provide solid contributions to the projects moving forward.
For further information please visit our website, https://aurynminingcorp.com
The actual notice of the Dan Dumas hiring is found here:
https://aurynminingcorp.com/july-2019-shareholder-notification/
DOC, I can agree with many of the points you enumerated above, but especially this one says it all (emphasis mine)!
I have a little hope this will turn around but very concerning the ADL not getting any looks with Metals prices hi and the property supposedly having the mineralization we’ve been told for years.
I don’t have a good opinion of South American people in the mining sector right now and wonder who is at Juan’s table for Family Christmas dinner.
If Mauricio is there, I’d be very concerned if he’s laughing and feel better if he and Juan were in different rooms not speaking
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Dentman,
Maybe they are waiting for $2500 gold. It’s coming. Let’s have hope, all we got
TDK
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Interesting note from IHUB poster:
I sent an email to Raul del Solar Berckemeyer several weeks ago.
He has answered back. His response is greatly appreciated. It would be great if he were in a position to share more about the timeline for the update from Auryn or what is holding up the update. At least we know that they haven’t pushed Medinah aside and are still moving forward on being able to make the exchange of shares.
Here is his email back to me:
"… from Medinah`s point of view I am waiting for an update from Auryn. Soon after that we will be making an announcement with respect to allocation and exchange of shares for AUMC, I cannot be more detailed at this time, thanks, Best
Raul del Solar Berckemeyer
One Family Office
President
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