Kevin,
.005 after expenses sounds pretty good since it was around .00558 before. Thanks.
As far as the 3rd party that is very generous. Also Maurizio seems pretty straight forward with how he is treating all MDMN shareholders including himself as he owns quite a bit for sure.
I have been keeping a partial eye on this for many years and open the updates and Mining Play with a heart full of hope for me and the friends who got involved! Today is a good day for a report to them and maybe some credibility will come back to me for a possible bail out of their money! They, as all of us here, have been patient! Thank you Auryn and Maurizio!
Wizard, Please hold my hand and walk me through it:
By your formula â after the conversion, whenever it happens â a cool fella who owns, say, a cool million shares of MDMN (1,000,000 shares), would expect to receive in exchange how many shares of AUMC?
â madmen
If itâs at .005 than you would receive 5,000 shares for every million you own
5000 shares (~$3000 and not far from where MDMN is currently trading)
It would/will be interesting to see how much this third-party is spending at an interest free rate. One would expect to see the quantum of this loan in the financials. There were no accrued liabilties as of the first quarter which either means the loan hadnât been made through the end of march or that they arenât accounting for it (which doesnât make sense). The second quarter balance sheet should reflect the amount being spent/lent as itâs loan/liability regardless of the attractive (0%) rate.
The bigger question is: how do they pay for the actual production/onsite plant, etc. Do they decide to slowly grind it out a truck load to Enami at a time until they can start to accumulate enough in the treasury to make a down payment on on plant (which would take multiple years) or can Maurizio pull a rabbit out of a hat and find a financial partner to finance construction, more extensive exploration, etc. Without a defined resource the tradition financiers: royalty, streamers, debt will most likely not be accessible and the $40m market cap makes any raise exceptionally dillutional.
It will be interesting to see what road is taken.
A nice pocket at 1220 Au g/t changes the calculus quite a bit. Letâs see what happens over the next couple of quarters. 
Did I read correctly that the veins get even bigger?
Yes you did, maybe after many years of waiting this may turn into something big. Now for Gold to start heading in the right direction would just be great.
This is not meant as a negative as locating the vein is a significant development but taking samples of the vein are always going to be stratospheric (as would a drill hole that intercepts a vein) as there is 100% nugget effect. As you know, thatâs why most with a trained eye look for the width of the drill interception before placing weight/significance on the grade. This being said, given the scale of the current operation one can assume they will high grade the visible veins to generate more profits before developing an actual mine plan so higher grades, if they are consistent could aid in an expedited path to some sort of real production.
Question: those lab results are from late April. This would mean that the third-party loan referenced by the company would have been tapped early in the first quarter. Why isnât this liability showing up in the financials?
Just to add to Nugies post;
Thank you, thank you, thank you Mr. Maurizio, mine worker team and friends,
(Auryn) for the update and fine pictures.
Seeing visible gold in ore body and samples is truly amazing.
Congratulations. Good luck with the project.
ColdSnow.
NoteâŚyour pic is actually from May 10th, not July which probably accounts for the rather modest amount of rock piles out in front of the entrance.
The 1220 grams of gold/ton assay number is matched with a 2670 grams of silver/ton(plus some copper) number. This lines up nicely with historical grades at the Fortuna mine which had a 2 to 1 ratio of silver to gold and gives credence to their accuracy.
I assume most of the MP readers own MDMN and donât own any AUMC. Letâs run a survey.
Which stock do you own?
0 voters
I was always heavy in CDCH, even more than MDMN, throughout the years until the BS deal with Ulander came out. Still held a lot of CDCH through everything and now sit on a fairly sizable AUMC position. Maybe Iâll get my investment back after all?
I am adding AUMC, albeit very slowly. My recollection is the high of CDCH was around $0.20? Was it a 70 to 1 reverse? That would make $14 to get back to the high. I absolutely believe that is possible.
I donât remember any of those numbers anymore. I ended up with 72k AUMC at 5.44, so sheâs got a way to go. $14 a share will give me over a double on my CDCH investment. Iâll need almost $19 a share to break even on my MDMN investment if we convert at .005.
I also wonder why the income is missing, since 9 tons * 45 g/t = 405 grams = 13.02105oz * $1,800 (est. Feb gold price) = $23,437.89 ( minus processing costs )
Unless ENAMI didnât pay them for the recovered metal, perhaps until the second quarter.
It is odd.
It was100 to 1 reverse split.
Cerro Dorado, Inc. Announces Reverse Split, Name Change, and Symbol Change
Aug 13, 2018
Press Release | 08/13/2018
Cerro Dorado, Inc. (OTC: CDCH) is pleased to announce that pursuant to FINRA Rule 6490, FINRA has processed our request for a reverse split, name change, and symbol change. Full details are available on FINRAs Daily List page (OTC Data)
Effective August 14, 2018, we will trade as AURYN Mining Corporation with the ticker symbol, CDCHD, for a twenty-day period. After that we will trade under our new symbol on the OTC Pinks, AUMC . The new CUSIP is 05208V100.
With the implementation of a 100-to-1 reverse split, AURYN Mining Corporation has 70,000,000 common shares authorized and issued, and 5,000 preferred shares authorized and issued.
Further announcements are pending and will be posted on our new website, https://aurynminingcorp.com.
I did a very odd thing today. I bought 458,000 MDMN today to round me up to 13M shares. Lowered my cost basis by over three tenths of a cent. Boy did it feel strange! lol
