Nobody did. I researched high-grade gold vein deposits and that came up as tops. I know AUMC is particularly focused on bypassing all this good stuff they are seeing to intersect the Don Luis vein. Leaving a known 15+ gpt vein tells me they expect a lot higher than that from the DL.
I posted about it and the chart to show the inflection point that hit in 2017 when they hit the high-grade veins and drilled down to develop resources. That appears to be what AUMC is going for. Granted, Kirkland was already a more mature, in-production, company. But look at their market cap, then look at 70m shares and do the math. 
Wow. You may have outdone BB on the euphoric optimism spectrum with this comment. That would be $150 per share. Anything is possible. That being said, making the leap from a one truck, shoe string project struggling to find an elusive vein to one of the most successful gold mining operators in history is analogous to my daughter writing a line of code and considering herself the next Bill Gates.
I think most here spent the last six months waiting for the results of a boat (truck) load of hyper grade ore only to discover that a whopping two trucks with average grade material made its way to Enami. Gotta learn to crawl before one can run. IMHO
Just my opinion but, if Maurizio eventually gets traction on this project heâd be nuts not to take AUMC private and relist it at a later date on a normal exchange. As of now it deserves to be a bulletin board stock but it really shouldnât even be public until/unless the projects evolves. Way too much historical baggage, zero volume or recognition, a hand shake loan that isnât reflected on the balance sheet, basically zero revenues, etc, etc⊠He and is group own enough of this thing that it would be an easy exercise to buy out the 30% they donât own, go private, and list a a later date. But only if/when things start to look âviableâ
Yes were crawling slowly along. All mines started that way.
Hard rock mining is a slow snails pace creature.
Not like Yukon Gold TV where you scoop up thousands of tons of glacial rubble and sluice out 100 to 500k of flack gold.
Small right now might, be the way to go. We are still a mining company. A short hike to SANTIAGO the capital of ALL Chile remember. Maybe a time to not stand out.
Just as in Murpys Laws of Combat
#3. Donât look conspicuous - It draws fire.
Good Luck Miners.
You are cut from completely different cloth and look at the world differently than MC. I donât think heâll be following your advice. LMAO.
I appreciate how you take my comments and reflect them in the worst possible light to cast as much shade as possible. Why not instead take them in the spirit of which they were made? Why not look at the market cap of Kirkland and see a 5-7x increase when it hit the high-grade and see my comments as reflecting a proportional increase that may exceed Kirklandâs because we only have 70mm (tight) out. 10x increase, maybe 15x in the next couple of years? But hey, maybe when weâre a mature company producing like they are we will be worth 10B.
Youâre my favorite troll - easy to draw out - and predictable as a broken watch. 
Oh. Forgot to add - things are starting to look viable already.
This thread would be soooo much nicer with an iggy button! When I read his posts itâs like being stuck in âGroundhog Dayâ reading the posts of someone stuck in âGroundhog Dayâ.
Thanks for the continued updates Kevin.
One day, weâre all gonna wake up and be VERY surprised at the stock price of MDMN/AUR - it will happen overnight. The news will get out that these guys are producing very high-grade ore and making a good amount of money. This WILL happen, as management is in at about 8 cents per share (MDMN) - and Iâm thinking these guys donât want to be losers. But thatâs just me. Theyâre not applying for a loan to finance their activities, so analysis as such is inapposite and pretty much irrelevant. The ONLY thing that will stop them is, in my opinion, the new political risk interposed by the voters of the country of Chile. That might be a relatively low risk - why would they cut their nose off? On the other hand, it happened in Ecuador, right? Pray we do not have that issue.
Because its an apples to oranges comparison. I was invested in KLG during that window and there is literally no way to make a connection as the two companies are/were in dramatically different stages of the development cycle. One of many examples: KLG actually had a massive defined resource where AUMC has none.
The most predictable posts on this board are the defensive rebuttals and personal attacks every time Iâm stating a fact. You canât rebut the points Iâm making so you come after my character. As a child would
If you had any experience investing in the mining sector you wouldnât be so quick to dismiss the very valid points Iâm making and you surely wouldnât be making references to KLG. This board is very forgiving for ignorance as long as it includes a positive stance on the stock.
Iâll be happy to discuss positive events as they evolve. You seem to be satisfied with shiny pictures and a truck. Thatâs your prerogative but the market needs a whole lot more, especially given the exceptionally rich current valuation. Maybe start with (re) finding the DL vein after a year of attempts. Maybe an explanation as to why the company isnât sending the already mined ore (through the tunneling) to offset the growing losses. It makes zero economic sense to stockpile 15 gram material simply b/c they think their close to 60 gram material (for over a year).
I appreciate that underground mining is extremely complex, especially on a shoe-string budget but the tunneling is still advancing at a very slow pace. One would think that the shiny new truck would not have been parked for over six months (with the exception of two trips to Enami).
Related to taking the company private: this is purely speculation on my part but, as someone who actually understands capital markets, itâs not an unreasonable point unless you think that a stock that trades by appointment is normal. Advancing by one level within the bulletin boards doesnât really do much for anyone. They need a minimum $4 a share and actual financials to advance to the Nasdaq. I understand that you think a $280M valuation is achievable, and maybe it is if everything goes right, but it will take a long time. Going private and relisting solves a lot of problems, regardless of âcloth.â
âOh. Forgot to add - things are starting to look viable already.â
Great to hear. Did they find the DL vein again??
I donât think you need to worry about this. Similar to Peru the bark is way worse than the bite and the governments arenât going to go after the small scale miners. There would be a community uproar as many of these are artisanal operations that the villagers rely on. The big boys may have some problems.
Iâll forgive you John! 
Thereâs always a choice.
Itâs very simple John. For the most part, we all recognize the property may not be the next Kirkland. We also recognize that there is a possibility that it may be something special. Maybe the next Kirkland, maybe a tenth of the next Kirkland. We donât know. And yes, it could be a complete dud, but that is not very likely given my understanding of things. Nevertheless, it all remains to be seen because there is a lot of work to be done.
The company has made great strides to stay in business and has made tremendous progress with no dilution to any of us. This is true regardless of how unhappy you are about an interest-free loan and a lack of transparency. We get all that.
We are dreamers John. We hope one day to come out of here whole or better. If we arenât so lucky, maybe weâll have some of our money back. But for now, we still have our lottery ticket, and the fact that we are still going and making strides (even small ones) every day means there is still hope. A number or two have been called and they match our ticket.
We are all here with sunk dollars after the LP and friends show. We have gotten our teeth kicked in. We all know it. We know that you think AUMC is way overvalued and MDMN isnât worth even considering. We know that you are the smartest person in the room.
You might know a lot about mining, but I think your social skills and awareness of the situation sucks, unless you just like being a troll (which is even worse.)
What is the point of coming here after every super-excited, way overly-hopeful and bullish post, and telling us how stupid we are about mining investing? We know that already. And if we make it out of this with something of substance besides the lessons we have learned and the friends we have made, we will count it a double blessing.
Peace.
I always fall back on this quote from last October release and I will stick with it coming from a mining engineer
https://www.yamana.com/portfolio/producing-mines/el-penon/default.aspx
âThe ore extracted and stockpiled from the old and new works on AURYNâs La Fortuna de Lampa mining project strongly reminds me of the ore from El Peñon Project, owned by Yamana Gold Corp. They are very similar to the color and rock quality of the ore I personally observed during my time working on the development of El Peñon. I have the firm belief that once La Fortuna de Lampa project goes into production, and a correct evaluation of the entire project is achieved, it will be a mining operation with very similar characteristics of El Peñon.â
Luis de la Torre
HeadMaster
Civil Mining Engineering
Universidad de San Sebastian
Hello Folks. Theres been talk comparisons to the
El Peñon Project, owned by Yamana Gold Corp. lately.
One should watch this video to compare their location to ours for a start. And then to fill in the missing comparison pieces that differ our mountain top to that area and its challengesâŠ
This video is also good for the arm chair miners amongst us to get a introduction on how to start a mine up. Keep a ear out for
the amount of $$$ they refer toâŠ
- Ps. This is a video from many years ago. So the times / world has changed a lot since then.
I also like the ad we see about : How to Retire in Costa Rica.
;" six months from now, you could be living large in Costa Rica on less than you spend now". ???
**** do they know something we donât"?? Or maybe they might be referring to our Political / Economical future⊠
Was there a previously posted video (I mustâve missed it), or a link perhaps that didnât work?
TIA
Kevin touched on a topic in his most recent post concerning the fact that the accomplishments made recently came without any dilution. In fact, it came without any dilution in either the share structure or in the ownership percentage of the asset. Iâve never seen this in 41 years of investing in the junior explorers. Going into production will induce dilution. The concept is insane. Zero âcost of capitalâ. Zero interest rate and the cash advances need only to be paid back if the operation is profitable.
Maybe weâre worrying too much about analogies to companies like Kirkland Lake and their ultra-high grade deposits or Meridian/Yamana Gold and their El Penon Mine. Because of the past lack of dilution and the present zero âcost of capitalâ, Iâd recommend concentrating on EARNINGS PER SHARE. AURYN IS AN EPS PLAY. Thatâs where the payday is for shareholders of a company like Auryn.
Advancing into high-grade gold production with only 70 million shares outstanding is beyond a rarity. You donât need to average 60 gpt gold in order to hit it out of the ballpark from an investment point of view. A MODERATE AMOUNT OF EARNINGS WHEN SPREAD OUT OVER ONLY 70 MILLION SHARES WILL RESULT IN A ROBUST EARNINGS PER SHARE FIGURE. Shareholder rewards are directly tied to EPS not to the total amount of earnings.
A while back I posted the results of a survey done at NYUâs Stern School of Business. Mining companies trade at an average âmultipleâ of 30.21-times their EPS. In fact, gold producers tend to trade at a higher multiple than the base metals producers and younger producers able to deliver dynamic growth profiles will trade at higher multiples yet. EARNINGS PER SHARE also correlates closely with the amount of cash dividends per share a mining corporation can afford to distribute. We should have better insight into when Auryn might be in a position to distribute cash dividends after they put out their financial forecast which is promised âonce consistent production has been achieved.â This would be subsequent to intersecting the DL1 Vein and ramping up production.
The tiny amount of shares âoutstandingâ is not the only share structure anomaly that Auryn sports. The âshare ownershipâ structure is equally anomalous. Management owns over 60% of those 70 million âoutstandingâ in a RESTRICTED/CONTROL format. Thatâs equally insane.
The whole story here is the deposit itself, the tiny amount of shares âoutstandingâ and the âshare ownershipâ structure. The key concept is that you donât need to match Kirkland Lakeâs astronomical grades or another companyâs astronomical production rates to provide ample shareholder rewards.
Hereâs the catch, until there are EARNINGS (the âEâ in EPS), few people will realize that Aurynâs upcoming âEPSâ is going to be supercharged.
Iâm with you here. An investor will look at the expected cash flow from dividends, and then the share price will adjust accordingly.
There are a couple of different ways one could arrive at an expected price per share. The first, of course, could be as Brecciaboy suggests, 20-30 times earnings.
Another one might be applying a âcapitalizationâ rate. Gold production companies typically pay 2-3% dividends. One can simply total the expected dividends for the year and divide that number (i.e. capitalize it) by the 2-3% dividend rate.
Mathematically, I think both of the foregoing are close to the same - numerically and semantically.
Opps!Fiore Exploration | Drilling in the Shadow of Yamana's "Flagship Precious Metals Mine" - YouTube
Disclaimer: These comments are offered from a troll with inconvenient facts.
Soma Gold is a South American, high grade producer (an actual producer) with forecasted production of 40koz in 2022, high grade material, two producing mines (actually own the mills).
Earnings and cash flow surging. Trading at less than 2x 2022 cash flow.
Outstanding shares: 63M with two insiders owning 60%+ of the outstanding shares.
Market Cap: $20M vs. AUMC at $60M
The reason why Soma trades at such a discount is b/c no institutions can own the stock. No liquidity and complete control (60%) by the CEO and head Geo. Most agree this should be a private co b/c of the capital structure.
There are many junior miners out there with similar profiles. Not a rarity.
Give me a break Baldy. Soma is in the jungles of Columbia where drug lords drop in every morning for coffee. Theyâre lucky to still be alive much less producing gold . . what little gold they produce. They have 3 producing gold mines that produce only 1 million $'s in profits in the last 3 months. I wouldnât own Soma if you gave it to me. Every day you show up for work youâre taking your life in your hands. You also have 33 million in long & short term debt. Earnings surging? Their profit is up less than .5 million over the last year. JMHO but very little future with this company. . . . and the stock price reflects that.