“I’d like to see MDMN climb 10X or more before any distribution takes place.”
That makes two of us.
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I’d like to still be alive when the distribution takes place
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I think MC does as well 
he has a lot invested in this
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@cornhuskergold - you need to rework your models.
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Tunnel is 3m wide by 3m high. This is not huge, but it is big enough to move a lot of ore out of quickly with the right equipment vs how they are doing it now. And WAY faster than your calculations assume.
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Your model has the wrong scoop. The one they have has 1.1 m3 volume and is much faster back and forth in the tunnels.
Ficha-Tecnica-Linea-Scoop-Frontal.pdf (1.9 MB)
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My understanding is that the rock between the veins is not sterile but low grade. Also they are not including the “halo” in their measurement of width, as far as I understand. There is an area around the vein that is mineralized, just not to the same extent.
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There are other options that will be exercised as they scale.
- Keep multiple scoops in tunnel at different faces and levels.
- Use small trucks going back and forth down the tunnel and load them in the gallery.
For example:
Material Transport Vehicle | Underground Special Material Conveyer (fuchenglhd.com)
There are plenty of options:
Underground Mining Equipment Manufacturer| LHD Machine In Mining (fuchenglhd.com)
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IMO, they will do both. 8-12 faces with the right equipment at a scale far larger than you initially were thinking is possible. And they will find other targets. They are just scratching the surface of what is available right now. Add to that, they will drill at some point for a porphyry with a lot more knowledge of the district obtained from their underground exploration.
Granted, this isn’t all happening tomorrow. But all they have been waiting on is hitting the high-grade to de-risk MC’s $$$. MC risked his own capital to-date. Now that the high-grade is hit, it starts to be self-funding and the velocity of project will increase.
Also, I don’t think it is out of the question that we see some outside investment to accelerate even more if it makes sense for the current shareholders.
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Imagine each face having these pieces of equipment. They all will fit in a 3x3m tunnel to get to where they need to go. Scale won’t be the problem if the grades hold. One bonanza area pays for all that.
And maybe one or two of these:
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Well, that about answers all of MY questions.
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If it’s not too sensitive to ask, what were LP’s legal consequences for his crimes? JJ’s, too, for that matter. I had this in my ‘sock drawer’ for a long time during that whole scenario. I figured it was a goner. I’m so happy to hear that LP finally faced justice, but I don’t know where to look for the info. Thanks
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Thanks for confirming in even your pessimistic outlook an annual profit of $8.75M.
Remember when you were shitting all over just a $5M annual profit projection? I do. 
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Yeah, with a 70,000,000 share structure, wouldn’t that translate to about .125 per share (before other business expenses)?
[8,750,000/70,000,000 = .125]
Take your MDMN shares and multiply by .005 to get your Auryn shares after conversion (an approximation we’ve discussed) - and then multiply that by .125. That’s a heckuva start. And we didn’t have depend on all kinds of extortionate financing either.
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I think your math is a little of balance?
According to BB, MRMR will not be necessary for Auryn; a rare benefit for junior miners.
From BB’s post: “Those other juniors need to raise tens of millions of dollars by selling shares in order to drill out the property and generate some MR/MR in order to attract a major miner with the dollars and technical expertise to put it into production. At the negotiating table, the junior will get its hat handed to him. Why? It’s because the major knows that if the junior doesn’t rapidly bite on a low ball offer then it must continue to sell shares and undergo further dilution just to service its monthly burn rate. The junior has no cash flow.”
No mine has to pursue a MR/MR. But if you want to receive any sort of value, have a mine plan, avoid finding and then finding and then finding again a third time an elusive vein, most legitimate mining companies map out a resource so that they can attract reasonable financing, a workable valuation based on mine life, and a roadmap on exploiting the defined resource/reserve. If MDMN hadn’t already been diluted into oblivion then avoiding the MR could have been advantageous. At this point, its really not a choice b/c the capital structure doesn’t offer the opportunity to proceed the “normal” way through dilution. The net result is a very small scale, albeit commendable, effort to advance this project. But the years of delays with another year before exploitation are some of the many downsides of taking this different path.
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Another year? I like the Shareholders Update reference that they will be preparing the mine for exploitation through the end of next quarter. But that’s only if the timeline they propose isn’t stretched out longer due to more unforeseen issues …
“Our mining team will spend the remainder of this quarter and the next preparing the mine for exploitation at the current level and sub-levels. Minor production will occur during this process. Results will be reported accordingly. Once fully prepared, exploitation on multiple levels will begin.”
Yeah, that sounds like a forward-looking statement, but it could still be accurate. 
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Quick answer.
Yes I am invested in Volcan.
I have been in ADL several times ( actually I’m kindly asking my pics to be removed from the website, that is Medinah’s website).
I believe ADL could be the last WCD SA.
Mark it. It comes from a real miner.
FYI. I do happen to have people in the mountain.
No Mr. Smith in the hood yet.
I will update, for free, when something goes on the mountain.
Cheers to all.
My post got deleted on Friday, cause I am biased. But all fellow shareholders, one way or the other have agreed on what I had Sid.The ADL is probably the last world class deposit ( book definition) in SA. Yet if you don’t loose it before a bunch of worthless stock, you still have a big shot score big.
Just have to be the proper way.
I will like to remind all of the fellow shareholders, that LDM initiated this process to get the Paul Jones suggested shaft sink plan done.
In simple and plain language invest around 1 million dollars to try to get out of the ground, around 3,700 ounces of gold.
It sounds like a giveaway to the LDM investors, but in mining, risk is always a huge factor, and this approach, it’s a reasonable one, especially with the terms of the FCI.
When they start cleaning the area to hit the two drill holes, they found a skarn, with huge dimensions, along with multiple veins and veinlets.
If this skarn was to be developed, then they need to pursue an open pit, and not follow the Paul Jones initiative.
Mineral values in a skarn are low, but compensated by the huge volume of the mineralization. Truck shipments to Enami, for processing are impossible to do, first because the value of the shipment will be less than the shipping costs, and second, Enami is not going to take it, because of the low grades.
Open pit, will require a completely different approach, a mill, a processing plant, etc. We are talking about 30 million dollars investment, to kick start production, in about 18 to 24 months. For this, LDM, or better yet MDMN,NA with the other 9 claims, needs, not only a partner with financial resources, but with mining expertise, in order to economically develop an open pit.
The problem here is that in order for a mining company to start an open pit, and put money into it, it needs to do certain studies, and take the whole process by the book.
A real mining company, will not offer up front cash for this, but instead, sign a mining option, and go from there, as set milestones are accomplished.
If LDM, or MDMN, NA start looking seriously into this perspective, and take this whole operation to the big boys leagues, then all of the shareholders will be happy campers, specially if they are in business with a mid-tier mining company at least, with enough cash to do this or all the ADL, without any debt.
It will reflect in the sp, since people in the business will know that the partner is a respectful established mining company.
Please don’t loose sight of this, with the original Paul Jones plan; the cash flow is not enough to start an open pit. It will indeed give a few million dollars profit, but it would not create the necessary cash flow for an open pit. And this is a fact.
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Dent, that was hilarious !!!
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Bonanza gold grades reported, your comment is beyond idiotic.
When mining at scale they won’t be able to capture exclusively the bonanza grade rock. The surrounding rock will also be cut into. What Wiz is saying is that even as you cut into those areas, when combined with the ultra rich rock, you will still net a very impressive gpt average overall. Therefore we can expect to make some real dough on this operation 
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Yes. My wedding ring also has bonanza gold grades but I don’t consider it a mine.
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Wiz, merely a question, as I don’t remember it in an Auryn report (I I may have just missed it as I’m not watching Auryn stuff everyday), how do you reach your understanding in #3 and your options Auryn will chose from in #4? Trying to understand the source of the info. Thanks.