Auryn/Medinah - 2021 - First Half General Discussion 🗓

21

That’s what I actually sound like! Nice to see you. :smiley:

3 Likes
22

Thought so! Good to see you’re around, too.

1 Like
23

This board is a bit like herpes!

(The best punchline to me would be, “I just keep coming back.”, but then that would make me like herpes and not the mssg board, wouldn’t it?) :stuck_out_tongue:

1 Like
24

HAHAHA now that was funny, lets see how many people pop up from days of old.
Happy New Year all and back to bringing on the popcorn.

2 Likes
25

I had to giggle. I am still here. I just talked my boss into buying more. Nance

5 Likes
26

Still here for more than 20 years and for a brief moment I was thinking of buying more.

6 Likes
27

Nice to see all you good folks! Now for more good news…

5 Likes
28

(That would be Colin Clive.)
:blush:

1 Like
29

“The timeframe for these actions is to be determined and is based on the Company’s desire to maximize the number of AUMC shares it is able to retain and allocate to its shareholders.”

It would seem they are waiting for a higher share price before they remove restriction for distribution.

3 Likes
30

Glad something is happening. A couple of thoughts:
The old conversion rate was .558 to 1 but I believe that was after Auryn converted to cdch and based on that share count?
Also, this appears to be a dividend and not a conversion which would coexist with mdmn shares?

1 Like
31

That’s what I took from it as well hulkster.

1 Like
32

Not sure about the first Q Dentman, but if this is indeed a dividend then it would seem we get to keep our MDMN shares. Perhaps as a reminder that patience sometimes pays. At least that’s how I’m going to use them. :smiley:

3 Likes
33

Perhaps the “allocation” went awry, which is different than a dividend. It does make sense that management needs a higher share price. An announcement of the exdivy date and distribution date is normally required. These three steps would have been unnecessary if an allocation was possible.

2 Likes
34

We have to remember that Auryn family and friends own over 400 million shares of MDMN

3 Likes
35

Btw, since this forum has sprung back to life like an early spring, I intend to be back to posting charts here instead of the forum I’ve been at the past couple months. I am anticipating the fruition of another long anticipated pleasant event in the form of a career change that could potentially have me too busy to visit for periods of time, but I’ll come around when I can.

5 Likes
36

I didn’t know you are … “employed”, so to speak!

37

Your math is off by a couple decimal places. Roughly 16 million / 2.88 billion. I would also like to thank management of both companies for shutting down the Vancouver printing press and funding operations through debt instead of equity. Had other parties been in control we would own nothing at this point.

8 Likes
38

MDMN Stock is moving over 15 million traded

39

My only two comments would be:

  1. assuming an average of 85 g/t over any length of time…while fun…is being a bit “overly exuberant”

  2. if they are going from 1-4 tonnes per day (where they have/had been since early 2020) they will need some sort of financing to get to 40tpd. They have been looking for this financing for a looong time. Covid is simply a convenient excuse. They’ve been “dewatered” for 12 months. So, based on this update they either have the financing lined up or they are hoping to do so. I would guess this financing is playing a major part in the timing of any distribution. It would be highly unlikely for the company to arrange debt financing (beyond officers making personal loans) as there is no collateral. Therefore, the financing will either involve a royalty or shares or both. Nothing in life is free. And even a micro scale (40tpd) operation will cost $1-$2M…and the cost associated with this low tonnage are well North of $1000oz, even at a high grade, due to lack of scale.

FWIW

4 Likes
40

"assuming an average of 85 g/t over any length of time…while fun…is being a bit “overly exuberant”

Maybe…but this in the line from previous grades produced from the Lampa mine. From Auryn’s website:

“Records for small scale production in the 1940´s and 1950´s gave an average grade of 59 g/t gold and 104.1 g/t silver.”

2 Likes