Actually I agree, but for a completely different perspective. As I explained quite simply, I think AUMC management is smart enough to have controlled dilution this far by not releasing the unrestricted shares. They will wait until the free trading AUMC shares are in the several dollars range based on production progress on the ADL. They will not want to foolishly have to use any of the 30M treasury shares remaining in the 100M authorized at reduced share prices. It is surmised that many of Auryn’s earlier 350M or more purchases of MDMN shares were in the equivalent of the $3-$8 range post reverse split.
mrbubba provided a clear explanation of your perspective, and I agree. However, there exists a great deal of uncertainty regarding the future survival of MDMN based solely on receiving future dividends from AUMC production. Regardless, if that happens to still be management’s plan I will be quite happy. You state, “Medinah and its 24% stake in the ADL is extremely liquid right now.” Actually for many shareholders with accounts in some brokerages it isn’t. I have a large position in MDMN that Fidelity will only allow me to sell. This policy has been in effect ever since MDMN went dark. I’m not selling my MDMN, nor am I selling my relatively large position in AUMC, which I am still underwater on, as are many current existing AUMC shareholders. Are you a current AUMC shareholder? If not, I can fully understand your perspective.
I haven’t, as I still have a somewhat small position in AMNP which I’m actually in the green on from years ago. Some interesting things going on there with AMNP recently becoming current on it’s filings (unlike MDMN). I’ll assume there are things that only management knows at this time. As you know, Maurizio is CEO of AMNP, with Gary Goodin and Italo Volante on the BOD. Hmmm
In FY2017, AMNP U.S. purchased the Fortuna, Llano, Mali and Poseidon claims from MASGLAS. As a result, currently AMNP owns the Caren and Pangue placer property claims, and the Fortuna, Llano, Mali and Poseidon claims.
MASGLAS, AUMC, MDMN & AMNP share common management. For some reason MASGLAS was attempting to go public last year, but was unable to do so. I would think they are still planning on a way to do that. Where AMNP fits in I don’t know, but apparently it does, and it will be interesting to see what unfolds. Whatever becomes of MDMN after distribution of AUMC shares to share holders, I’m quite sure of one thing; Management will do everything possible to make AUMC a success. Far too much has already been invested in the ADL through consolidating claims into AUMC. The sole asset of Auryn mining Corporation is the prospective Alto de Lipangue Mining district and production is finally beginning to take place.
It will be a while, but if AUMC can reach a point of performing some more drilling into major targets it will be valuable to all current shareholders. Also, having something to show in PRs based on vein widths and mining math will be a very a useful tool to bring in new investors. Thanks for all you post here BB. I enjoy your input and learn a lot, even though we have different perspectives on just how this investment will attain success.