To be fair here, I’d see why you could argue that but I disagree. Maurizio has enough of his own funds to Kickstart this so essentially you can say turns out the statement is true. He shopped around the dilutive options and said no, I’ll fund it myself. Action has taken place to bring us to
a point where we are ready to begin production.
Not as fast as anyone would have liked but we have finally commenced production that will yield $10M-$20M annual profit without dilution. That’s some pretty great results.
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If this thing generates $20 let alone $10M in profits at any time over the next five years (based on organic/self-funding, non-dilutive financing) I will litterally send every MDMN shareholder a dozen rozes. BB will be the first on my list. I don’t think its in the realm of possibilities (and this is a sector I’m focused on), if I did, I’d be buyin AUMC and if they do, I’ll be buying AUMC at higher prices but the amount of wood to choop from where things are presently to $20M is wiiiiide.
To be fair, AUMC was not properly capitalized which is why they went looking for money over three years and dozens of conferences. They didn’t receive any interest so Maurizio not AUMC made a loan (b/c AUMC had/has no money).
No fear mongering here. The MDMN position has and continues to be diluted. Would I rather pay a small premium to buy AUMC (current with filings at least) or buy MDMN where I have no idea for the quantum of further dilution, regulators and b/d’s imminently barring further buying, and an unfulfilled, multi-year promise to issue shares (with no reasonable explanation for the delays)?
One would be considered a highly speculative investment in an undercapitalized mining startup. The other would just be investing by braille.
We will be waiting for those. AUMC’s December 31, 2022 income statement should be a good one. Hard to think that Maurizio would put $2M of his own money in if he thought he couldn’t get it back out for 5 years plus. For AUMC to state publicly that they’re bullish and will be cash flow positive next quarter is not lining up with your sentiments at all. I’m guessing there’s a very wiiiiiide gap between what you think you know and what the AUMC team knows, .
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40 tons per day per face, is what we could get up to under the 5,000 tons per month, right? [5 faces, 25 days per month]
40 tons per day could be handled in two truckloads, right?
Maurizio was intimating up to SIX faces?
Could Auryn get funding for enough trucks, gasoline, and jackhammers?
Would Maurizio provide that funding himself?
Or, could it be funded by profits from the first truck/dozer?
Somebody else, please feel free to run the numbers on that.
Continues to be diluted how? Your next sentence then says no idea for the quantum of dilution. You are irresponsibly throwing the dilution word around with mdmn without support. How is MDMN diluting us right now? The authorized shares are capped not much higher than the current O/S. Baseless speculation that there may be dilution coming based on no rationale is bad enough, but claiming it is actively happening is downright wrong. AUMC has explicitly stated their intention to not dilute, so how do you translate that to MDMN will or is diluting? You aren’t making any sense, MDMN is just a holding company for the time being. If I didn’t know any better I’d guess that you perpetuating a lie that MDMN is actively diluting appears to be inspired by your dissapointment that AUMC is proving you wrong and doesn’t need your financing.
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This one is a classic. Just like they said AUMC was capitalized to bring the things to production (4 years ago)!! Anyone invested in the pinks should appreciate that anything can be stated publicly with no recourse. Don’t make me go through the last decade of PRs to proceed my point.
Aug 2026 > $20M in annual profits without a major dilutive event to scale production
I’m rooting for you
LOL. That’s always been the case. The percent of shares that MDMN holds in AUMC is getting smaller and, AS STATED PUBLICLY, it will become even smaller to pay for accrued expenses. As I stated. If I didn’t know any better I’d say you are new to investing and don’t bother following what the company is stating publicly. I’ll offer one pointer: OTC mining stocks are rarely accurate when they make positive forecasts but the negatives (if they bother mentioning them) are always spot on.
Why did they turn down your financing package then and why are they publicly stating they anticipate no dilution? Is it because MC is delusional?
Again. You are confused. I don’t think AUMC is dilluting shareholders, MDMN has more risk in dilution. Not in the shares which are capped but rather the shares held in AUMC which is becoming smaller. I’m not claiming there will be a massive dilution but, as an investor, I’d rather invest in what I know (AUMC) vs what I’m guesing (MDMN). I don’t know what MDMN will ultimately own in AUMC but it keeps getting smaller. I also haven’t heard a reasonable explanation as to why the distribution has yet to occcur and I wouldn’t want to own anything where I and most other investors will be prohibited to add.
To clarify, “I” never offered a financing package and I can say with a high level of confidence, nobody else offered one. It’s extremely challenging for a cash strapped penny stock with a VERY early stage asset to procure financing when there’s next to no underlying security. Yes, we all agree there’s a lot of gold in them hills but institutional investors need to see an actual QP resource. Which explains why MC had to tap his personal checkbook to get things going. Hard to complain when this seems to have finally gotten things off the mat for a very small scale operation.
I don’t doubt the company will be cash flow positive at some point over the next couple quarters but if they want any sort of scale, any and all profits will need to go back into the project for a loong time. Netting $20M is a pipe dream. IMHO.
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Fair enough, but I don’t think you’re giving enough emphasis to the fact that Maurizio wants HIS investment to succeed too. If I was standing in his shoes and I was financially capable (and as generous), I would advance whatever money is needed to get this project scaled up as high as humanly possible asap. That way, I make big money myself on my 70% interest - and I have happy minority shareholders to boot. Another consideration is prices in the precious metals sector are very advantageous NOW; that could change at any time.
also haven’t heard a reasonable explanation as to why the distribution has yet to occcur and I wouldn’t want to own anything where I and most other investors will be prohibited to add.
I 100 percent agree with this!!!
Mdmn has had Aumc shares in possession for a looonnnggg time.
Why don’t we have them?
As mdmn’s share count goes down, Aumc technically owns more. Correct?
These guys own Mdmn and Aumc so they’re not losing when Mdmn gets diluted?
Please let me know if I’m off on this!
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I’ll send you my address & any colour of roses is good, except red (unless you truly have affection for me) ! 
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I’ve got the old OBO list. He’ll have thousands of addresses to send flowers to.
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I can’t quite follow your statement :
“As mdmn’s share count goes down, Aumc technically owns more. Correct?”
mdmn’s share count goes down - did you mean up ?
Medinah owns AUMC shares … So the only way I can figure out your question is if/when MDMN is diluted, each shareholder will own less AUMC shares.
We owned 26 percent originally. Now we own 23 percent
Auryn owns 3 percent more now correct?
What happens to Auryn shares owned and in possession of Mdmn if Mdmn goes away before Aumc shares are distributed?
Who would get those shares?
Dent;
I’m not sure what you mean by ‘goes away’. Bankruptcy would be the only case where I can envision this. In that case, all the assets are put up for sale by the court appointed trustee. Secured debt is serviced first, (usually unsecured debt is erased).
I don’t see this happening to AURYN. At the very least, the majority owners would make an offer for MDMN and/or it’s assets, before they’d let the company ‘go away’.
On October 1, 2018, 600,000 shares of AURYN stock were issued to the Board of Directors of Medinah for services performed.
After the share issuance, Medinah owns 16,102,400 shares of AUMC through its investment in AURYN.
This is the last info available that I could find.
Thanks Rod
My big concern is we don’t have the shares yet
Cdch converted quickly but Mdmn taking forever without explanation as to the delay
There must be issues delaying and hopefully not preventing it.
What if Mdmn goes bankrupt? Then the major question is who swallows up the 16M Aumc shares
I suppose if that happens all Mdmn shareholders are treated equally bring all screwed
Maurizio still has major ownership in Aumc with his wife - Juan’s daughter.
What a fing soap opera
January 2021 Shareholder Notification
Medinah Minerals, Inc. (OTCMARKETS: MDMN) (“Company”) is pleased to share the most recent news from Auryn Mining Corporation (OTCMARKETS: AUMC) with our shareholders.
January 2021-Shareholder Update.pdf
Medinah Minerals, Inc. owns 16,104,200 common shares of AUMC received from AURYN Mining Chile, SpA. These shares are currently restricted. The Company intends on removing the restriction, selling a small portion of its shares to satisfy corporate liabilities and legal expenses, and allocating the remainder of its AUMC shares to its shareholders, pro rata, in the form of a dividend payment. This is subject to a final recommendation by our securities attorney and approval by regulatory authorities.
The timeframe for these actions is to be determined and is based on the Company’s desire to maximize the number of AUMC shares it is able to retain and allocate to its shareholders.
DM,
Your big concern is that we don’t yet have these shares and you don’t understand why we haven’t received an explanation. You’ll remember that that MDMN had 96,000 AUMC shares before the Les Price settlement that was supposed to add an additional 195,500 shares for a total of 291,500 AUMC free-trading shares. These free-trading shares will not be part of any dividend shares distributed to shareholders. Think of them as part of the MDMN “treasury” to be used to pay debts by selling on the free market (or traded to lien holders to settle debt).
When MDMN shareholders receive their unrestricted AUMC shares it will be necessary for AUMC to be trading at a much higher price than we see now. As part of a wise strategy, I foresee management waiting until the free trading AUMC shares are in the several dollars range based on production progress on the ADL. Anything less would be strategically senseless for the survival of the company. They will not want to foolishly have to use any of the 30M treasury shares remaining in the 100M authorized at a ridiculously reduced current share price under a dollar. Additionally, MDMN has 3,785 shareholders of record that would find it difficult to convert to free-trading after AUMC shares are unrestricted unless current shares are trading well above a buck. MDMN management has an obligation to these shareholders of record, above the majority beneficial shareholders holding shares in brokerage accounts, especially if MDMN had gone bankrupt. Bankruptcy is not likely now that AUMC is progressing to production.
I don’t know if MDMN will be around after the distribution of AUMC. Most shareholders don’t think it will be, but if the distribution is really going forward as a dividend, as has been indicated, then there is a possibility that it will remain as a trading stock. It currently is clearly not, but if it becomes current in it’s filings there is a “what if”. Brecciaboy has alluded to this as a possibility for future dividends coming from AUMC to MDMN shareolders, but personally I think it would be quite a twist.
EZ
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