Like I said Jimmy Boy. You have a lot to learn before posting with any credibility and this will be my last wasted post in response to your dizzying stream on consciousness.
I believe my message has been very consistent. Anything in life is possible. It’s all about assigning probabilities and understand the sector in which you are investing. You can probably guess (or maybe not) the probabilities I’m assigning to $20M in profits, the attractiveness of the asset to any major, the odds of being able to scale without considerable dilution, etc, etc).
Some may argue that tunneling 300 meters and finding a vein after 18 months de-risks the project. If you understand mining, the current infrastructure that is in place, and the mining my brail strategy ahead of the company, you would also know that the largest risk lay ahead. That’s fine but investors need to weigh the risk/reward TODAY.
My fallback position/opinion is that I can jump back on this wagon at these levels post having to speculate on all of the “ifs” that are casually thrown against the wall on this board. If AUMC was trading at a $10M valuation vs. $70M this would be an entirely different investment consideration.
I believe Maurizio also said at that meeting the AUMC was fully financed to bring the assets into production…4 years later he has to cough up his own personal $$ (now an accrued liability) to make any progress.
Just saying that “rapid” has a whole different meaning in mining. This isn’t specific to AUMC. I’ve learned that the hard way.
Baldy,
I can assure you Maurizio did not say that! I was at that meeting and you weren’t. So where are you getting your information? Much to your dismay, beliefs are not the same as facts.
EZ
There are multiple references to the company being “well capitalized” and funded to bring the assets into production (starting circa 2015, around the same time they were predicting production a the Caren and Fortuna)
“AURYN is sufficiently capitalized to bring the Caren and Fortuna claims into early production and achieve profitability.”
In the early discussion with suitors for these distressed assets , which I was involved with (mainly focused on CDCH) until Wizard joined the BOD of MDMN, one of the main considerations over essentially giving up all of the assets was that the acquirer had some/enough working capital to advance things through early production.
Let me know if you need additional public releases to reference on claims of AUMC being fully funded, but don’t dig too deep. You might find very similar Maurizio predictions (production, grades, profitability) made 7 years ago, that we are now discussing today.
This was not said at the meeting by Maurizio! You just admitted as such by stating “multiple references” to a company that was not even trading at the time as AUMC. Things were in complete disarray at the time of the informational meeting because of being blindsided by the lawsuits at the time and fraudulent share count. The company was actively trying to be destroyed by one of it’s former principals. Please get your facts straight before you attribute something as fact that is in fact just an incorrect belief of yours. It has taken a great deal of hard work and corrections to a very dire situation to bring this equity to the point where it is today. You are making up something that was indeed not said at that meeting. You are very loose with the spin you wish others to “believe” that you are in fact just making up due to your very negative bias. AUMC did not exist at that meeting. The company was AURYN Mining Chile SpA, and the company went through several reorganizations and growing pains to become trading as the AUMC we are invested in today.
I don’t need an education in pointing out your contradictions. Your history of trying to laugh posters off the board for suggesting AUMC could have world class gold grades is very well documented.
Now you conveniently assign over 50% probability they will produce at 10-15gpt. This is priceless stuff. Every achievement they make you will continually highlight the next hurdle. Thats your MO on this. AUMC will get its proper valuation in due time. An inflection point in the pps is on the horizon as they transition from exploration to production and seek uplisting to a higher exchange. No worries, we will remind you along the way up.
One thing that is rather interesting is that the team has reported a serious amount of mineralized ore between the veins. None of that has been assayed. We are really just scratching the surface of this vast property. There are possibilities for skarn, porphyry, and vein deposits. In my view, hitting the DL is important because with production, even at small scale, we can fund further exploration. It’s those initial exploration dollars that cost the most equity.
" MDMN effectively becomes an Asset Holding Company. All percentage cash flows, resulting from production on the mineral-rich Altos de Lipangue Project claims, will be disseminated to MDMN by AURYN Mining Chile SpA on a quarterly basis.
Further, the Company’s goals are to look at the real possibility of issuing cash dividends, and initiating share buy-back programs. Medinah shareholders will share in the free-carried ADL production revenues for many, many years to come."
April 2016
Easy Breezy, I’ll see you in another 6 years and we can see where things sit. There are multiple references from Maurizio (public and in direct conversation) of them being fully funded. This is right before they entered into a multi-year roadshow trying to raise $. You can believe whatever shade of reality helps you sleep at night while holding this investment. Good luck.
Dent, he disagrees with us, but I’m gonna say all information is valuable and it’s good to see a different perspective. Let me be clear, I don’t agree with Bald Eagle at all on his position all these years that it just can’t be done. In fact, I think it’s pretty clear that I have been advocating the “do-it-yourself” strategy for MANY years. I don’t claim to be any geology or mining genius - that was just from common sense and my personality. I certainly believe it can be done, and it’s looking like we have the right man on the job. He made the mistake of doing a deal with Hochschild which, from where I’m sitting, is doing nothing. If THAT is what the mining sector is gonna be all about, then I want nothing to do with it. I think our guys have learned from that and are motivated to move Heaven and earth to make this work on a small scale. They don’t want to lose money either - they’re in at about 8 cents (?). I’m thinking we should look for things to get better in the next few months ahead. And no, all the negative talk about this investment cannot be erased, it’s “indelible in our hippocampus”, if you will, but it gives us the opportunity to distinguish ourselves. One day, we will wake up and this stock will have rocketed. Just wait.
Baldy,
What early discussions did you have that have clouded your judgement of what is occurring today? During negotiations were things exaggerated to express a position of strength perhaps? Surely you haven’t had direct talks with Maurizio where he has expressed this “fully funded” and “sufficiently capitalized” to you any time recently as you are trying to present, have you?
Yes, this would definitely be useful to all here, as what had occurred prior to 2017-2018 is only historical in nature, and not relevant to where the company has progressed in the present. AUMC is moving forward, even if it does not meet your strict criteria as being worthy of your investment accumen.
EZ
Any investor who is so insecure in what they own that they have an emotional response to those offering a different view (which has been more right then wrong over many many years) really needs to self-reflect. If you know what you own, are are confident in your due diligence, it really doesn’t matter what my POV is. Not every post can discuss WCD, cash machines, and the 1:1000 miracle which is AUMC. You really need to man up.
Has BB’s euphoric posting over the past 25 years helped? I would argue that an occasional dose of reality coming from more skeptical posters like myself may have hopefully helped some avoid (additional) losses. There was a time that, even I, was swept up in BB’s fantastical visions of mountain made of gold, and needlessly added to my position (realized later at a major loss).
I also keep an open mind and dry powder to re-establish a position if a lot of things go right. I’ve tried to articulate the “ifs” that need to occur. If they don’t this stock or whatever you want to call it: shell, holding Co waiting for a dividend for however many years, etc…will be worthless (where it is today)…if they hit the “ifs” for a period of time, the stock can definitely start to move…IMHO, there is a long runway of execution for those involved or looking to be involved…that provides an excellent opportunity to observe from the sidelines without any opportunity cost.
It’s not emotional. I think you’re an arrogant a$$ and just a rude person that spends too much time on this board as a non invested person convincing people why it’s bad and many that didn’t liquidate their position have several hundred thousand invested here,
Penny stocks have players with motivations and you fit the mold of Basher.
If you don’t like that, I could care less.
This forum has turned into Baldy’s “bash Medinah” blog. I made the decision to buy this stock long ago and I don’t need to have him tell me I am stupid for doing so. Additionally, he obviously has a personal vendetta against Dr. D. He has nothing of value to offer.
Yes. I’m a basher. Those who can’t argue the facts find it lot easier to label me as such. I’ll revisit after the next company update. Until then, enjoy the Blue Sky optimism (a warm security blanket for so many here) without any interference.
