The Mining Play

Auryn/Medinah - 2021 - First Half General Discussion ๐Ÿ—“

Perhaps next year is the year for those of us still here.
Congratulations to those who have overcome playing the victim here and managed to pursue other more profitable investments while we wait. The message at the end of this rendition of Auld Lang Syne is what I truly wish for all shareholders here. The nature scenes are well worth viewing.

It would be uplifting to see again those I met in Oct 2016 at the informational shareholders meeting in Las Vegas. Meeting those who have contributed so much to the discussions and insights on this forum at another yet to be held shareholder meeting would be a pleasure to look forward to. Until then, this message board will have to suffice. May the New Year Bless each of you with Good Health, Renewed Hope, Happiness, Joy and Great Prosperity!
EZ

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Hear, hear! To a healthy and prosperous 2021.

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image

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@cabezon - thanks for admin support and all others, thanks for supporting our admins and advertisers to keep the site running.

Looking forward to 2021!

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Shareholder Updateโ€ฆ

AURYN Mining Corporation Shareholder Update

The pandemic ensures that 2020 is remembered as the year of COVID-19. People all over the world have suffered including many of our staff and shareholders. Auryn Mining Corporation (OTC: AUMC) would like to extend our sincerest sympathies to those who were affected by the virus, directly or indirectly.

The mining industry was hit particularly hard by COVID-19. Practically all mining and exploration projects, including ours, had to deal with sporadic shutdowns as countries looked to stop the spread of the virus. We have responded to government ordinances and put in place appropriate safety measures and protocols to mitigate the spread of the coronavirus. Because of this, during the last quarter we were able to continue our exploration efforts at Fortuna de Lampa. While it is uncertain if there will be additional mandated shutdowns in the future, Auryn is currently meeting all the protocols and rapidly progressing on our project plan. To that end we would like to enumerate the following list of accomplishments for Q4 2020 and outline our objectives for Q1 2021.

Q4 2020 โ€“ ACCOMPLISHMENTS

  • Efficiently dewatered all the old mine works present in the area. Collected and removed all the mud, replaced timber support as required. Water was separated and pooled for testing and analysis for the evidence of gold.

  • Started production of ore from old mine works. Small amounts of ore (in the order of two to three tons per day) were stockpiled. Samples were submitted to two laboratories for analysis.

  • Recovery of 54 tons gold ore from Fortuna de Lampa. Free ore, no blasting, with average grades over 2 oz/ton.

  • Systematic laboratory sample results from the existing mine workings. Indication of consistent and good quality of gold from the main vein, named Don Luis (averaging over 85 g/ton Au.) (See the Don Luis โ€“ 1 on our gallery for images.)

  • Developed future exploitation plan for the mine, under the charge of our in-house mining engineer. Projecting a new entrance tunnel (adit) focused on modern Operational Mine and Health & Safety standards to target high grade areas more directly.

  • Started experimental work for gold concentration, with good results. Laboratory results are extremely encouraging.

Q1 2021 โ€“ OBJECTIVES

  • Start selling ore (mineral) to ENAMI for processing or smelting, permit pending and expected to be obtained within this period.

  • Start new Fortuna Tunnel construction to improve access ability and size.

  • Establish a camp with suitable service buildings, support infrastructure, and power suitable for new protocols related to COVID-19.

  • Increase production, initially for this quarter, to a target level of 40 tons/day ore.

  • Review and study the potential of a concentration plant at the mine site, including a mobile gold wash plant, vibrating screens for separation, and an ore crusher.

  • Start a collaboration program with a prestigious Chilean university. Auryn Mining Corp is pleased to announce, in cooperation with Universidad San Sebastian, that their faculty members and alumni will be conducting field practices at the Altos de Lipangue property site. The goal is for their Civil, Geological, Mining and Environmental Engineering students to learn, study and analyze different topics related to mineral careers. Topics of focus: environment, safety, future expansion, engineering developments, metallurgy, mining, geotechnical, etc.

  • Develop environmental campaigns with the local community to develop a clean adjacent area to the mine and remove historic waste from the zone. Repair and rebuild stone walls and other structures damaged by the passage of time and beautify the water ponds where local animals come to drink water. Reaffirm company commitment to develop inclusive mining practices, done in a safe and clean way.

HAPPY NEW YEAR

We wish everyone a happy New Year and look forward to the possibilities for 2021, including production from the Don Luis vein at Fortuna de Lampa. For further information please visit our website, https://aurynminingcorp.com.

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Finally some good news!

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Great news! No mention about the share consolidation or the LDM though. Anyone know why?

Letโ€™s see if we start to gain some altitude with this news

On a side note Gold up over 1900

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The pics from Don Luis look shinny! lol! Very nice!

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Those rocks samples are what dreams are made of!

Almost brings tears to my eyes to see that they are digging/exploring again.

If we have a little fun with the math. 85 grams/ton is 3 oz. 40 tons per day x 350 days x 3 oz x lets say 90% recover equals 37,800 oz per year. If we assume it costs $1000 per oz to process, that works out to $34 Million/year profit. :slight_smile: Okayโ€ฆthese kind of speculations have gotten us in trouble in the past but lets see if Auryn can actually obtain that 40 tons per day production rate and what the average grade is first.

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That computation is precisely where my lay mind was going - just as informative as anything else on this board, including our invaluable asset, brecciaboy.

โ€œTroubleโ€? Donโ€™t worry, us big boys will not hold you responsible for any investment losses - but we do appreciate your contributions!

Why would somebody be upset about a perfect exercise in rational thought? The news release STATED it, and you simply proceeded from there. When a person invests, he is (or should be) as interested in the upper side as well as the lower (which in this speculative stock could very well be ZERO). If there was no potential bonanza reward, why would a rational person even dream of investing in this South American exploration stock? Something tells me that when Sprott or say index funds (e.g. gdxj) invest in such stocks they are running the same types of computations through their head? If they had any such reluctance, theyโ€™d be broke by now?

Please do continue with such computations - they are informative and educational. Youโ€™re a very smart guy, and your contributions are appreciated.

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And, if Aurynโ€™s P/E were the same as Karoraโ€™s the price of Auryn stock would be over $4 per share :face_with_monocle: :smiley:

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A strong pulse for Auryn.
Nothing posted on mdmn website yet re this
Sure wish my mdmn shares would become Auryn shares

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Holy shit!!! ITโ€™S ALIVEโ€ฆ ITโ€™S ALIVE!!!

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Whatโ€™s the TA looking like?

No, just kidding. We have a LONG ways to go. Last I looked we were trading at some FRACTION of one cent? Bwahahahaha!

But maybe thereโ€™s still some hope out there. I have a ton of money tied up in this one, and I have to say itโ€™s been a HUMBLING experience. More humility to come, no doubt.

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I believe the PE ratio is more like .41 ( .20/.49 )

Price is .20 per share

Earnings are .49 ( $34mill / 70million )

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Iโ€™m like sitting on the front two inches of my seat, waiting on perspective/wisdom from brecciaboy.

Thank you Auryn/Medinah
For that clear update as to what you have been doing on the ground in 2020. The updated photo gallery is nice to see also. Some nice finds there.
I know from experience none of the work in the field like that comes easy.
Just the commute to work up the mountain each day can be a challenge.
Then the prying of mother natures riches from the rock she cleverly hide it in
as a joke on mankind has its own problems.
Add the hardship of this virus sโ€”t you have had to work around and
my hardhat goes off to you.
Stay healthy and Keep picking away at it. Hopefully times will get better.
Please keep the news coming. Thank you. ColdSnowโ€ฆ

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10 million traded on MDMN with some good BIDS

Aumc 20,000 traded

I am sure we will see this start to move up as people are moving money into their trading accounts. I was thinking about pushing the buy button again after this news :man_facepalming:t3:

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@GCCapitol did most of the vetting, so thanks to him for that,too.

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@TradeRich, in my head, you sound like Boris Karloff! :zombie:โ€โ™‚

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