Also, is HCHDF the symbol for āourā Hochschild?
Yes but the primary listing is in London. This OTC ticker has very low volume: only about 19K shares per day.
Wow, most enthusiastic day around here in a long long time.
Very nice update. Even 45 g/t @ 40 t/dy is about 16 KOz which is pretty small but not nothing. If they continue to execute this thing is definitely going higher.
Does anyone else find it so ironic or maybe sad that some of us bought shares as early as 1999, and now 20 years later they actually start by mining in the very location that had been mined decades ago. And yes they know a lot more and have uncovered a lot more but the basic Fortuna mine has been there for decades. Yes of course the higher price of gold makes all the difference. But still. Crazy how much water had to go under the bridge just to circle back to where it all started.
Hopefully in future updates they tell us what happened with the LDM and esp. the Caren mine which seemed so hopeful. If all they need is cash to do some additional work to get it into production as well, we could see multiple fronts in production simultaneously in a couple of years.
Iām happy I picked up some AUMC shares this quarter. Theyāre Q1 update just seemed very confident so I took a risk.
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madman
In Aurynās (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?
ColdSnow here; First off; I hold no info on any inside deals these guys are up toā¦ It all plays out like a poker game for now.
Iām looking across the table at.
; Somebody is planned this out pretty good to get the most bang for the money thrown at it. ?
; Thatās a fair size pad /opening in the side of that mountain.
Easy to up size when time may come. Good planning.?
: Some body has thrown in more then pocket lint money for starts. "All new machinery. ?
: Good plan for the on site crusher /concentration. [less traffic coming off the mountain.] stay under the radar.
: Keeping it small for now [ good ] keep working some money out of that mountain till one see how things shake out with Chiles new Constitution toward mining.
: Good planning in; Keeping good relations with the people of Chile by opening the sites up to students. And pursuing the safety and environmental issues.
Again if I was in that poker game. The fellows across from me are holding a pretty good hands, or doing biding for somebody else? they donāt seem like tenderfoots.
But thenā¦ Anybody that has held Natural goldā in their hand. right out of the groundā where its laid since the gods of time put it there. You just want to have a little mine you can call yours.
ā¦ Iām ok with either handā¦
ā¦I foldā¦ Fire in the holeā¦ C.s.
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Well, so am I! On 3/11/21 I picked up a very few shares for 0.35. So like you CHG, I consider it a risk well worth taking since cost/share in my Roth is an astounding 1.76! ; which means I paid at least (likely more) 0.17 before the name change from Cerro Dorado and 1/100 RS. Granted it was only 1,500 shares, but that was like 150,000 shares of CDCH for only $526. Before the R/S that would have cost me $25,500. Yes this is a very costly āinvestmentā which many shareholders that are still here have paid dearly for. It was a lesson learned the hard way. I did a little better in my IRA with an average cost of 0.87 (CDCH 0.087 pre-split and name change to Auryn Mining Corporation - AUMC). So while Iām not keen on investing more heavily in this on speculation at the present time when there are so many other very early stage PM stocks, I consider it quite prudent to average down even a little. On the speculation that that the Hochschild option started with a five year term, as did the original interest free āloanā to MDMN (if I remember correctly) before it was paid off, Iām giving it another few years. I think AUMC management was working with a 5 year time horizon all along to make this pay off to themselves, and to those shareholders that had enough faith to listen at the informational meeting a few years ago. 2017 was a very pivotal year for this stock and mining company. Management knows what they have from Dr. Sillitoeās 2017 report and what it will take to make it produce. Time will tell. I want to see this go go well North of $1 to before the MDMN divy to AUMC conversion restrictions are lifted. I will wait until there is steady cash flow reported before I write this one off as a loss and let it go. Until then, I will keep profiting from other plays I have in my portfolio.
For those that use Google Earth, Iāve created an image so you can see where the new tunnel is etc. I based its location from looking at the various photos provided. (The tunnel might be closer to the new building than depicted but website pics shows the building at quite a distance from the entrance.) Its best to use the image and refer back to Google Earth to orient yourself. It would be neat to place an overlay of the lampa mine geology/vein locations on the same map if time allows. It appears that the new entrance is likely at least 150 feet lower down than the original entrance of the mine. They are doing so they can easily move a Bobcat in and out horizontally instead have to mess with lifting ore out vertically. Pretty sure below ground, the ore shoots slope down in the direction of the new tunnel.
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One other thing worth mentioning is that where the new production tunnel is makes it quite convenient for moving ore off the mountain especially compared to the LDM & Caren mines. Basically, it is straight shot all downhill to TilTil with the fully loaded ore trucks. They return up the mountain empty which is nice especially considering how steep the access road is. From LDM/Caren, it is much further involving up/downhill sections. Lot of the cost for a small operation like this is simply the transportation costs so minimizing those costs is very important.
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Little more interesting map with the surface expression of the Lampa system overlaid onto Google Earth noting where the tunnel entrance is located. If you look carefully, you can see the surface vein traces in red. The yellow area is all the local rock that was altered by heat so is likely the extent of where you would find mineralized veins etc. Note that where the veins are at the surface isnāt where they are with depth. I think they slope towards the mine entrance with depth.
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Hi All! Does anyone here remember the approximate dates many of us began talking about and buying MPIX and what it was trading for at that time? I am trying to recoup some old losses on my taxes this year and would be ever so grateful to anyone who has a better memory or better resources than I do!
Thanks so much!
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Bought Mindpix @ 0.0036 August 3, 2012 Sold @ 0.012 December 12, 2012
Hope this helpsā¦
Thanks Hulkster, it does help!
i very much appreciate a quarterly update that tells me what was achieved - and not achieved - in the previous 3 months and the expectation for the next 3 months. If goals are not met, THAT IS FINE, i am just happy to know the situation. Thank you AURYN.
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One thing to remember is that even though mining is an essential industry in Chile and work on the project can continue, things do move slower right now. Everything takes longer and costs more - equipment orders, assays, permits, ore processing, etc.
Weāve got to get this pandemic situation behind usā¦not just in Chile, but globally. The supply chain havoc in my industry is ridiculous. Weāre backlogged for months.
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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.
Did they have to say next week? Lol
Hope they let us know if definitive permit is issued sooner than next quarterly update
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I am surprised that we are not seeing much volume after this great news. Cash flow positive this quarter
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A couple of points that I canāt seem to find clarification for (see bold font) :
"On October 1, 2018, Medinah transferred 600,000 of its AURYN shares to the Board of Directors for Medinah in exchange for services performed, reducing their share ownership to 16,104,200 and reducing its percentage ownership to 24.217%.
As a minority shareholder in AURYN, Medinahās rights are limited. Medinah is responsible for its pro-rata share of AURYNās capital costs and Medinahās ownership in AURYN is subject to dilution should Medinah not be able to meet any cash calls.
In addition to shares in AURYN, Medinah owns 9,950,000 shares of American Sierra Golf Corp (AMNP) and 96,000 shares of Auryn Mining Corporation (AUMC). Through a settlement with Leslie Price, Medinah will own an additional 1,700,000 of AMNP and 195,500 of AUMC which are expected to be converted to Medinahās name in Q2 2019.
Once converted, Medinah will own 11,650,000 shares of AMNP and 291,500 shares of AUMC.
Iām not sure where the total of 291,500 shares of AUMC. originates from.
More Importantly ā¦
"Medinah is pleased to report that on March 10, 2017, it signed an agreement with Auryn Holdings Corporation to finance Medinahās portion of the raised capital. The basic terms of the agreement are as follows :
March 10, 2017 - Auryn Holdings Corporation will cover the payment of approximately $2,000,000 that Medinah Minerals, Inc. owes to Auryn Mining Chile SpA.
Medinah Minerals, Inc. will pledge its newly issued shares in Auryn Mining Chile SpA as collateral against the loan. The loan will be a 0% interest loan payable in full on December 31, 2021."
At the current (elevated) price of Medinah ($0.0028), that payment would equate to 714,285,714 shares of Medinah or 3,990,936 converted shares of AURYN, bringing Medinahās holdings in AURYN from 23.006% to 17.305%
I canāt find where this $2M has already satisfied. Is it still outstanding ? This would be a reduction of 25% of the AURYN shares that would be distributed to Medinah shareholders.
Can anyone share some clarification of this issue ?
Rod
291,500 is from LP and Medinahās shares in CDCH (which were converted to AUMC) i.e. 96,000 + 195,500.
Re: the other issue, that was all pre AUMC rolling into CDCH. It was satisfied as part of that. Final word is the last news release from MDMN.
Medinah owns 16,102,400 shares of AUMC. That is its only asset. It has debts. At the end of the day I expect 0.005 to 0.0055 shares of AUMC per share of MDMN that I own depending on how many shares of AUMC that Medinah must sell to pay off its debts and fund the allocation costs.
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a conversion or dividend of AUMC shares would be most welcomed.
Am I correct in thinking that id the AUMC shares are distributed via dividend and not conversion, that we would end up with tax loss harvesting opportunities on the remnant (but worthless) MDMN shares?
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scary situation. a few more things go wrong globally and a lot of people will be in a world of hurt. Supply chain, distribution, etc. Not many people are prepared to go without the grocery store for very long.
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I guess the AUMC debts will also include the current work being done by AUMC as well as the purchases of equipment & mining costs. Hopefully these can be paid out of any revenues from the processing by ENAMI.
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One thing I find ridiculous for Medinah is the Directorās Fees
Year December 31, 2018 $462,000
Year December 31, 2017 $60,000
Half a Million Dollars !!! Give me a break !
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