I would like to here Wizards take also. I always like to hear different views on this last update
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Sooo, what you are saying is that the long awaited conversion of MDMN shares to AURN shares is NOT going to happen, but rather, we are just going to be gifted a few measly shares of AURN and then itās finally āgame overā after all these years? Just asking.
Vark
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Well my memory might be more than a little fuzzy, but I think we had always been told to expect to end up with shares of AUMC at a .0558 ratio. Whether a conversion or dividendā¦ weād get the same amount of shares. But again, Iām far from being the smartest fish in the pond regarding this situation.
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While sitting here this morning working on that response to Mr Vark, I had a flashback of the time MDMN and CDCH first came to my attention. I remember thinking Iād give them a look and see if theyād be good for a swing trade or two. So, sooo innocentā¦ soooooo, soooooooo, naive!
I wonder if the Avengerās might let me borrow that time machine for a few seconds?! :S
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Thanks TR, I guess in that case, not horrible.
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I still a certificate how will they be treated?
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No, not horrible. I only need AUMC to hit something like 21.43 for me to be able to recoup what I invested in MDMN. But, it is what it is.
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I also have a cert for half a million shares. I need to look into that but I am assuming the company will have a list of SHās with certs and mail a certificate of AUMC shares.
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Thanks for the reply.
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I have ANMP stock per a large allocation settlement in the past. Is it of any value to me or the company?
I was going to give a point-by-point commentary on the shareholder update, but I have decided against it. My previous role with Medinah and my personal relationship with Maurizio taint my view. The last thing I want is to be accused of pumping the stock or giving away insider information. Also, for that reason, I view my investment in Medinah as a sunk cost. Not that it would be illegal for me to trade it, but that I just donāt feel 100% comfortable doing so based on my personal ethics. ( Not that I havenāt been tempted! Congrats to those who bought at $0.0006. 
)
I suggest everyone continue to be patient a little while longer. The company has outlined a clear path forward. Everyone inside the organization is bullish, as am I. Letās give it a couple of quarters to see if Auryn is able to execute on its plan.
I read Medinahās update as well. It makes sense to me for Medinah to wait as long as it takes for Auryn to execute consistently and reach a fair valuation before Medinah sells shares to retire its debt. Then it can dividend out the remaining AUMC shares, prorata, to the Medinah shareholders. That may take a few quarters. For my own score-keeping, I am counting on receiving 0.005 shares of AUMC for every share I own of MDMN.
Note: that calculation is completely forward-looking and subject to lots of variability. It could be a bit higher or a bit lower. We wonāt know until (and if) it actually happens. Itās just the number Iām using in my head.
At the end of the day (which will end up being over two decades) I expect to see a gain from my investment not counting the time value of money.
Now, back to looking at those really beautiful nuggets and dealing with my gold fever!
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Just some additional information. Jan 2018 I posted during the reorganization the following:
Absolutely correct, 7B was not an arbitrary number. For simplicityās sake, the 5% ownership of CDCH was used as the basis in the derivation of the proper number of shares to authorize . The 5% Cerro ownership of AURYN is the existing 350 M shares of CDCH (7B shares x .05 = 350M). Allocation of remaining 6.65 B shares between AURYN and MDMN is simply reduced to a percentage. Whatever the final reduction by a RS will be pro-rata, based on the percentage of ownership of all parties. It is only the percentage ownership that becomes important.
MDMN has not performed the 1 for 100 RS that AUMC did on the original 7B shares. MDMN currently has 2.882B shares out. It has effectively been ādarkā since 2018. Many brokerages will only allow sells and no buys because it trades off the grey sheet market. It makes no sense to use MDMN to settle debts while MDMN āownsā 16M restricted shares of AUMC and 11,650,000 shares of AMNP. Thus, MDMNās only assets are assets in two other companies. Clearly, the AUMC shares cannot be used on the open market while restricted. AMNP, however, just became up to date on the āpink sheetsā with filing disclosures. There are only 33.8M shares disclosed on the public float. If some good news with MASGLAS involved drives the price of AMNP up significantly this may signal that the unrestricting of AUMC shares is imminent with settlement of MDMNās debt using the sale of itās AMNP shares. This is only one possibility that makes sense to me.
If there is an announcement for developments of AMNP accompanied by a surge in trading volume and price, this may be an early signal that the debts of MDMN are being settled. AMNP is notoriously a low volume, low priced stock.The price of AMNP recently reached as high as 0.06 from it base of around 0.015. Hmmm Speculation? I donāt buy pink sheet companies unless they are very liquid, and AMNP has had too low a volume to qualify, but I do have a few shares tucked away from years ago.
My understanding is that ānormallyā, a formal announcement is made of the ex-dividend date and a distribution date would preceed a trading halt to determine and request an accounting of current shareholders holding MDMN shares in their brokerage accounts. Actually, it is the brokerages that reports street shares held in the brokerage and the brokerage does the subsequent distribution of the AUMC divy shares to individual shareholders of record to each brokerage account. I donāt know whether this formal announcement of the ex- and distribution dates for a grey sheet company is needed.
EZ
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I am fairly confident it will all be transparent as to if / when AUMC shares are issued as a dividend, i.e. publicly reported so anyone who wants to jockey in or out of position has time to do so.
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Happy Sunday! Re: Gold Fever, this is what Iām talking about.
An image was added to the Don Luis - 1 gallery, taken yesterday.
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Holy cow! I got gold fever now!
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Thank you Kevin
It would be great to see this story legitimized!
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The caption that goes with that photo is āNuggets extracted from Don Luis ā 1/09/2021.āā¦
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If we get AUMC and then MDMN dissolves, everyone here will have a lifetime of tax loss harvesting, which is quite valuableā¦
Thanks for all the comments.
This could simply be a language/semantics issue, but I remember corresponding maybe about 6 months ago with the young man over at Auryn and him responding that they are in the process of trying to attain the ābest resultā for the shareholders. The tenor of that remark tended to make me believe that they were aiming for some precipitous event to come in the future, the type of event that would culminate or resolve things for us shareholders once and for all.
Of course, I could be wrong, but letās face it: Any potential buyer will be looking to get hold of this property for as CHEAP as possible. You canāt blame them, this is ācapitalismā, and YOU would be doing the same thing. The problem they are going to have is our boys are in the process of trying to PROVE in the cheapest manner possible that (1) there is mineralization, and (2) it is economic, thereby adding leverage to their position that the properties are worth something. Apparently, they can do so - them granting a local university access to the properties for educational purposes might have been a huge catalyst. Will it be ānecessaryā to have a 43-101 to SELL to them? There is no such LEGAL requirement. There have been companies that have sold or developed without such an expensive endeavor, admittedly the exception as opposed to the rule. But is that OUR end game? Ramp up production over time to the point that the prolific nature of the properties cannot be denied? Bald Eagle opines that the amounts we could make are too small to even consider such a tactic. Yet, it seems that if we were going to proceed with the conventional route, the financing would have ALREADY occurred - Iām given to believe there is a LOT of money out there these days with gold prices where they are.
So, if Iām a major, I might just be watching this very closely and then swoop in and buy the whole thing off before these properties become too, too productive, especially (as Brecciaboy says) since they NEED to bolster their balance sheet. The price at 3 cents per share right now would be a mere $86.4 Million (2.88 Billion shares x 3 cents), not even pocket change for them. But then, one has to consider the principals of Auryn/Masglas are in at maybe about 6 cents per share (? - donāt know - I think we can look at the notes to the financials to see how MANY shares they have but not necessarily the PRICE). A good tell might be if we learn that they are NOW buying themselves, adding to their position. When I get a chance, I think it would be a good idea to look more closely at insider ownership. Maybe somebody has already done so?
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Not sure this is the correct way to post this question. Can someone tell me how many AUMC shares would have been issued at the time of the dividend if I was sitting on 500K MDMN. Thanks
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