Great news! Cash flow positive this quarter💰
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Gallery images on the Antonino Tunnel are amazing. That’s a lot of earth to move! Cool videos too.
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“AURYN expects to become cashflow positive in Q2 or Q3 of FY21.” 
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I’m actually buying MORE today, if you can believe it. Only 5,000.00 worth.
If MDMN simply hits ONE cent (Heaven help me), it’s a 3.84-bagger from here.
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With no more dilution and what could be a multi-million ounce gold deposit?
I am expecting multiples of 1 cent. :-). Not next week, but from quarter to quarter as this unfolds.
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I like the quarter to quarter release cycle and follow through!
Putting the Q1 objectives and accomplishments together shows they accomplished most of their objectives and then some. That’s a good signal for what is to come over the next 3 months!
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Start selling ore (mineral) to ENAMI for processing or smelting, permit pending and expected to be obtained within this period.
AURYN has a temporary permit for exploration and exploitation. Under this permit AURYN shipped 9 tons of ore at 45 g/t Au to Enami for processing. We expect the definitive permit to be issued next week.
Start new Fortuna Tunnel construction to improve access ability and size.
AURYN began constructing the new Fortuna tunnel. This tunnel, 3 meters x 3 meters in size, is critical to achieving production goals. Construction images are available on AURYN’s gallery. AURYN removed 25 meters of the mountainside to reach a competent rock structure for the tunnel opening, and then advanced an additional 27.5 meters underground. Intersection with the Don Luis vein body is expected to take another 10-15 meters and is likely to be accomplished within a week. During construction of the tunnel, two additional veins were crossed. Samples from these veins have been sent to the lab for assaying.
Establish a camp with suitable service buildings, support infrastructure, and power suitable for new protocols related to COVID-19.
In response to the Covid-19 pandemic, AURYN adopted specified protocols providing individual quarters for each worker at the mine. Once pandemic conditions improve AURYN will evaluate plans for the development of a new all-weather camp suitable for year-round conditions.
Increase production, initially for this quarter, to a target level of 40 tons/day ore.
AURYN’s objective for Q1 was to achieve a mining rate of 40 tons per day. However, this was not possible without completing the tunnel. With the tunnel being completed shortly, AURYN will hit the 40 tons per day target this quarter.
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.
AURYN is analyzing which type of concentration and processing plant is best for ore from La Fortuna de Lampa. Meanwhile, we will continue to sell ore to Enami.
AURYN acquired production equipment, including two new compressors, two jackleg drills, and a Bobcat in order to reduce the time required for drilling, blasting, and removal of material. In addition, AURYN acquired a crusher and conveyor belt to reduce the size of the ore and match Enami’s processing requirements.
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.
Students from Universidad San Sebastian conducted 15 practicums resulting in a large repository of data and tools that are extremely helpful to AURYN. These include:
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strategic control & management tools;
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special protocols for management of common and wild animals; and
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new safety standards and protocols to be implemented on our project.
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.
AURYN postponed environmental campaigns with the local community due to the current pandemic situation. Once conditions allow for people to move freely around the country, AURYN expects to execute these campaigns.
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Reminds me of the old Auryn when they 1st showed up on the scene
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Yes, this all sounds very encouraging and I love the fact that they are regularly updating us on what they stated in the prior quarter update… This almost sounds like we have finally turned a page on the past especially if they go cashflow positive, and here is to hoping it continues. As far as MDMN’s stock price .003 has been a strong resistance point for a long time now and a close above that level may also indicate we may have turn another page on heading out of the sub-penny level… Time will tell! JMO
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In reading between the lines it appears to me that we might have more gold then we ever thought we did. Maybe Wizard can opine on this. Or maybe my imagination is on overdrive.
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Where do you see the videos?
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Coldsnow in previous post eluded to it, “this is hard work”.
Here is one of the jackleg drills in action . . .
Ready to blast . . .
The blast . . .
They did this over and over again to go from here to here to here. Wow! (That second picture really gives us a perspective for how large the area is where they are working. They look like legos on the side of the mountain.)
Wow, that’s a lot of blasting and removal. 25 meters plus the extra height and width outside the tunnel and 27.5 in the tunnel! 10-15 more to go until payday!
As passive investors we lose the fact that these are real people doing real work on our behalf.
Look at the joy on their faces. I appreciate their blessing and celebrating the tunnel accomplishment!
They deserve our gratitude! Thank you, gentlemen!
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Thanks. This is very exciting!
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I think so too. 
Here are things that were of particular interest to me from today’s release.
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From accomplishment point 1 – “Under this permit AURYN shipped 9 tons of ore at 45 g/t Au to Enami for processing.”
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From accomplishment point 2 – “During construction of the tunnel, two additional veins were crossed. Samples from these veins have been sent to the lab for assaying.”
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From accomplishment point 4 – “AURYN is analyzing which type of concentration and processing plant is best for ore from La Fortuna de Lampa.” and “AURYN acquired a crusher and conveyor belt to reduce the size of the ore and match Enami’s processing requirements.”
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From objective point 1 – “Intersect the Don Luis vein and begin exploitation on multiple fronts with regular shipments of ore to Enami. AURYN will ship to two different processing plants. Material with grades over 25 g/t Au will be shipped to one location for direct smelting. Grades below 25 g/t Au will be sent to a second location for flotation processing.”
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From objective point 2 – “Continue developing the tunnel to intersect two massive, known structures encountered during previous trenching operations. (See: trenching program update.) These structures are each greater than 2 meters width in the trench. AURYN expects to intersect them this quarter.”
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From objective point 3 – “Continue our geological studies and assessment in order to increase production and establish reserves.”
Take a look at that trenching update. The grades there aren’t as high as the Don Luis, but they are known at surface of trench and massive in size. I have bolded the clues in my view. The last one - wow - “establish reserves”. What a concept. 
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If you scroll through the Antonino Tunnel construction gallery some of the images have a “Video Link” beneath them. If you click on the link it takes you to the video.
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This is one of my favorite images because it captures just how expansive the area is and how much earth was moved to get to the tunnel entrance. Look at the workers on top of the area where the tunnel entrance is going to be. They look like ants. On the close up shots we really don’t get that perspective.
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If my wife finds out I put more money into MDMN, she might retain the appropriate thug to dispense discipline upon my person.
The good news is I might have brecciaboy as a hospital roommate!
Maybe a few others …
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Guilty as charged 🥸
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"Nice update. Especially the pictures. Gives perspective to all on just what it takes to get mother natures treasures out of the earth.
Hard work $$$, and perseverance.
I wouldn’t mind a sketch on the back of a napkin of what the tunnel system they are hacking out looks like ??
A intersecting tunnel sounds like a good spot for a turnaround T, where one could load dump carts or trailers pulled by a Yahmar C50 tracked 3way dumper, that would speed it up to go in and back out in a circuit, instead of backing that skid all the way out with a bucket load (slow work).
This looks more like a prospecting project in my eyes. Object: to sample and pay as you go some what. Drilling from above is just a hole, in which to drop money into.
If they would want to work out some of those veins things will change.
Boy these guys have a great view from where they go to work every day. I wonder if they are hiring? I’ll drive the skiddy.
In Auryn’s (wonderful) update I did not see any mention of the status of the Auryn / Medinah / Hochschild arrangement (or whatever the appropriate legal term is).
Has that agreement now been fulfilled and set aside? The update seems to indicate that Auryn is going it alone now. Does anyone have any relevant intel?
Also, is HCHDF the symbol for “our” Hochschild?
– madmen
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