As I have said before, Juniors issue shares in the market so they can drill and prove up properties it is a process every junior goes through. If AUMC does not start getting aggressive in a drill program you will be waiting another 6 years for nothing!!
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“It seems that as a very smart investor you pretend to be you simply can’t put the pieces of the puzzle together. (taste of your own poison)” Hulkster June 2023
All the best to you Rich. It’s never easy to exit a long-term investment. If this board were a popularity contest I would be failing misearably. This being said, I’m only here to offer my opinion and keep my toes in the water in case it ever gets warm enough to jump in. While I appreciate that investors here would much prefer the morphine drip and fantastical projections provided by BB and others, I’ve simply tried to present a more realistic assesment of this investment. Nobody likes a realist but I can handle being unpopular on a message board. I would have a considerably harder time knowing that I’ve added to the financial misfortune of many of the good folks here by spinning tales of a Chilean pot of gold at the end of a rainbow.
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The worst of this for me was not the financial loss or that I spun any tales, but I did pass them along to a few who invested and suffered to some degree. Speaking of that, I certainly wish Les Price nothing but the absolute worst of everything.
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Les Price deserves the hell he bought. just sayin…
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Hi Baldy - I see you are quoting Hulkster from weeks ago, but perhaps you are taking it out of context? I went back to follow the bouncing ball …
Seriously, I’m just trying to make sense of some of these complaints, back-biting, shared DD and opinions.
In the March 2023 Shareholder Notification, we are informed how the Chilean Mining Authorities selected Auryn Mining to host a series of training workshops regarding safer materials & explosives for mining producers." This selection was made after Mr. Carlos Hunt, SEREMI de Mineria-Region Metropolitana visited AURYN’s La Fortuna de Lampa mine. “The mining authorities expressed their satisfaction with AURYN’s operation and its high level of compliance with ESG standards.”
BB commented, after sourcing Auryn’s quarterly updates, regarding how Maurizio was noticed as someone “willing to work with the University of San Sebastian in providing externships.” Your average Junior Miners aren’t given roles or opportunities like that. That definitely sounds promising for Auryn as they continue ramping up production, imo. BB suggests that Auryn appears to have an interesting role “towards mandated environmentall responsible mining and the following of ESG protocols.” BB shared some quotes from previous updates in his post and commented on them with his educated opinion. All very reasonable possibilities.
NOTE: ENAMI recently granted Auryn Mining the Mining Register so they can now commence delivery and sales of minerals to them. According to Hurricane Rick, ENAMI may give CU credit for any gold ore processed averaging 2.5% CU or better. It’s my understanding that ENAMI may provide support to their miners because they benefit from speeding up the process, too. Could this be another financing opportunity that Auryn can take advantage of?
Baldy responded to BB’s post:
But as the discussion progressed with more research, it turns out that other mines DO use this “ESG strategy.” And the hurdles Baldy submits about the winter months & expense are not big obstacles after all.
And finally, here’s Hulkster’s actual post where you can find the quote Baldy just used against him …
Baldy, it helps to read your post that Hulkster is referring to. Perhaps you took his quote out of context?
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Sorry. I don’t understand the point of your post. AUMC isn’t actually mining so their environmental impact is minimal. Hulkster’s main argument for AUMC/MDMN appreciating in value is because Dogecoin was able to appreciate in value. I don’t even know where to go with that.
ESG and mining are ying and yang. My point is/was that even the best financed companies (those that can afford ESG initiatives) have a very difficult time doing so. At this point AUMC is just trying to make a dollar. Yet, readers here have to suffer from delustions of a “Green Mining Co.” Baby steps.
Anyone parsing through the AUMC PR’s and interpreting the fluff (which is typically offered by companies not delivering on the stuff that matters) as gospel, only need to cross reference what has been historically stated vs. reality. If you depend on the PRs for guidance on this investment you would have assumed production started 6 years ago.
To your earlier post: AUMC and MDMN are one in the same. That should not be a confusing concept. The reason why I wouldn’t touch MDMN is simply because AUMC has failed to deliver the porponiate shares. There really is no excuse even though I realize that the excuse offered was expectations that AUMC would appreciate in value, therefore making the accrued expenses be less dilutive. That has clearly gone in the wrong direction and MDMN is a kiss away from being delisted. AUMC issuing shares to MDMN would make AUMC way more liquid (trades by appointment currently). Why folks like BB who have been decimated in their invesment aren’t making more noise about this 6 year delay in a share distribution is unfathomable to me.
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Are you a speed-reader? 
I ask because you seem to skim thru posts and only reply to the parts you cherry pick.
No, Hulkster was talking about how Auryn was recognized by the Mining Industry Authorities for their “technical & financial effort” and Auryn’s “high level of compliance with applicable ESG regulations.”
That’s when he said: “It seems that as a very smart investor you pretend to be you simply can’t put the pieces of the puzzle together. (taste of your own poison).” But Hulkster made that statement only after you discounted everything BB said (on May 7th) about ESG. And you denied ESG was mainstream or common.
See your post at Auryn/Medinah - 2023 1st Half General Discussion - #438 by Baldy (on May 9th). You referred to it as “psuedo ESG” and added, “To make the argument that AUMC is pursuing a green mining strategy is literally proposterous.”
THAT is why Hulkster originally made that statement you convenienly shot back at him recently. Incidently, you slapped him with that same “Dogecoin” blurb then, too. I gotta hand it to ya though, you have interesting ways of deflecting.
REGARDING SAFETY & ENVIRONMENT (ESG) Here’s another reasonable post from BB
Easymillion shares his DD, too
This post is just another example where you tend to beat up on others who share thier DD & factual data to connect the dots using their mining expertise to present educated opinions. But disagreeing with them in a civil manner is very different from attacking their character. I just don’t understand your refusal to view other posts objectively. Criticism is okay, but why not constructive criticism? Especially considering that much of what you post is speculation & opinions, why would you do that?
Deep sigh
OK Jaded. You win. If Google searches convince you that mining is truely becoming ESG compliant and AUMC is leading the pack that’s just one more positive box to check for this company. If you believe that AUMC has issued PR’s that have been accurate, dependable, and delivered upon that’s another box. And if you choose to believe that BB’s posts are “factual” that’s certainly your perrogative. I can tell you, factually, that all of the above have netted a resulting 90%+ drawdown on your investment since Maurizio took over 7 years ago (not including the massive dilution of the AUMC “merger”). I would be doing a lot more than deep sighs but don’t need to b/c I haven’t had the misfortune of relying on the preceding factors.
No need to engage with an ignorant, deflecting chump like myself. You’re doing just fine as is.
Lastly, I don’t feel the need to be civil to likes of BB. Keep in mind that he attacked me and my family on several occasions when I started to expose Les Price. BB defended him and the rest of the management team until the very end while slamming me for having an alternative agenda. Not to mention the wealth destruction created over 20+ years as a direct/indirect result of “pie in the sky” forecasts leading to may investor holding on to a “story” far too long. Has he or others EVER admitted to being wrong or pointed out company failures? Hard to have constructive criticism when debating a multi-decade unappolgetically positive spin in the face of what has actually occurred.
Enjoy the long weekend!!
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If I attacked you and your family on several occasions, I sincerely apologize.
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November 2015
John,
You don’t even want to get it. Your arguments are so weak yet convincing to those that don’t understand markets and mining that it’s scary. Let’s tell the whole truth in an unbiased fashion for a change. You say in a very convincing fashion:
“Great Jim. Who owns the Picasso? I can promise you that your stake has been reduced by more than 95%.”
When you say that my ownership interest got diluted by 95% the key to me who doesn’t have an “anger itch” needing a daily scratch, but obviously not you, is how much the VALUE of my overall stock position has gone up. By “value” I mean NPV not the share price the market assigns. I find the comment you made to be full of DECEPTION but I have witnessed and have accepted that this is something that you just have to do because that anger itch is much stronger than your desire to shoot straight with the investors that rely upon your comments as being unbiased. I know this just as I know that Les’s timing predictions are seldom accurate. BUT THAT’S OK BECAUSE I’M AN ADULT AND I KNOW THIS TO BE THE CASE. I find no need to regurgitate it on a daily basis. When I lock horns with somebody, I like to sit down and find out exactly where we disagree otherwise it has a tendency to consume me.
Recently you witnessed some selling. At first you said that’s Les Price selling. Then the story became that its not only Les Price but he’s actually ILLEGALLY selling RESTRICTED shares. Why was it illegal? You told us that he was not filing the forms that an insider needs to file if they are a 5% owner of shares. You told us that Les had been doing this ILLEGAL selling since September. Later the story became that Claro too was ILLEGALLY selling RESTRICTED shares without filing the appropriate forms. Then you told us that Medinah’s BOD has been doing this all along. Your certainty level was its usual 100%.
Let’s slow down a bit and review the TRUTH that somebody not needing to scratch an “anger itch” on a daily basis might say. First of all, there is no 5% ownership laws demanding the filing of any forms. There is a 10% law BUT IT ONLY APPLIES TO CORPORATIONS REQUIRED TO REPORT TO THE SEC UNDER THE TERMS OF SECTIONS 12 AND 15 OF THE '34 SECURITIES EXCHANGE ACT. These are SEC Forms 3 (initial),4 (any changes in beneficial ownership) and 5 (late reporting of a Form 4) that are supposed to be filed. Medinah is NOT one of these “SEC FILING” corporations. As an OTCMarkets Pink Sheet company “current” with the “alternative reporting requirements” Medinah disseminates public information by filing 211 (a)(5) reports accompanied by an “attorney’s letter”. There are 9,800 companies trading on the OTCMarkets. The reporting requirements of SEC registered issuers involving 10 Q’s and 10 K’s are vastly different than 211(a)(5). BUT WE KNEW THAT OR SHOULD HAVE KNOWN THAT BEFORE BUYING OUR FIRST SHARES.
Thus there are no 5% ownership “filing requirements” for Medinah affiliates/control persons nor are there any 10% requirements to file Forms 3,4 or 5. Further, as far as Les allegedly ILLEGALLY selling RESTRICTED shares there is no way you or anyone else can detect the sale of RESTRICTED securities in our markets. If your allegation is true, this would involve the COMPLICITY of Medinah’s Transfer Agent (for illegally removing restrictive legends)and their Corporate Counsel for falsifying the attorneys letter needed to remove a restrictive legend.
John, your pattern of DECEPTION in these matters is so clear that you must, as an investment professional subject to all kinds of codes of conduct, realize this. Recently you engaged in a campaign to solicit funds from Medinah shareholders in order to pay the legal expenses to audit the sale of shares of insiders that you already informed us in a declarative fashion have been going on. Did the cart accidentally get in front of the horse? To my knowledge and that of several of my colleagues, there is no legal theory available to compel compliance with such a demand. Who’s going to tell the donors?
You made the suggestion that the results of this campaign might even end up in Les Price being forced into the open market to buy REGISTERED securities and it might even result in Les going bankrupt. Notice the scratching of that “anger itch”. Shouldn’t you pay the legal expenses involved in seeing if your assertions of ILLEGAL behavior are true or not and shouldn’t the results of any such audit antecede your accusations. John, you just can’t engage in DECEPTION like this in conjunction with the purchase and sale of securities of issuers whether “registered” with the SEC or not. The same goes for soliciting the funds of others under false pretenses. That’s why 10b-5 is called the “omnibus anti-fraud” rule.
I think it’s time you came clean with the forum participants that have been making buy/sell decisions based on your allegations. I would include the legal issues involving your family and Medinah as a starter in order to provide some context to your behavior. Why do I request this? It’s because your actions have put me into an ethical “no man’s land”. My faith does not allow me to engage in the type of behavior you have undertaken. I brought your Dad into this deal. He has the exact same tempermant that you have. He made the exact same accusations you are now making and in a similar fashion. Medinah had no choice but to handle it in a legal fashion. In a derivative fashion, I am responsible for your behavior and your Dad’s which bothers me a lot. You brought this upon yourself, not me. What’s amazing to me is that even knowing that management is transitioning out you actually have accelerated your campaign. One question I have for you is don’t the clients that you put into this deal have recourse to recoup any investment funds lost when the party that suggested the investment has done everything in their power to crush the invested in company due to personal family issues?
BB I appreciate the apology even though I believe you sincerly don’t think you ever made any attacks. In this post, you dismissed my active attempts to audit the share count and expose Les Price as an “anger itch”. After these accusations were proven 100% accurate you never retracted any of your previous defenses of Les/MDMN management/Claro nor offsenses towards me. You even suggested that “clients” I brought into this investment should have recourse. I never brought “clients” in but I did bring in many collegues who sold as soon as I flagged highly suspicious insider trading activity. I would think that any financial recourse would fall on the lap of the guy who has vigorously promoted the investment regardless of what is actually occurring on the field vs. the guy who helped minimize losses by getting people off a sinking ship.
Even though I believe MDMN and CDCH shareholders got massively diluted with the AUMC merger, I’ll admit that Maurizio should not wear nor bare the stigma of previous management. He’s doing his best to create value. The only thing that gives me that “anger itch” is that you and others STILL cannot objectively admit to any negative development (even when management is admitting to the same). It just crushes credibility when every new development has to have a positive spin. Not a positive nor realistic dynamic when it comes to mining co’s.
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I would say the silent half of us here see the reality and are able to temper the optimism on this board with our own assessments. Maurizio is a HUUGE leadership improvement but I do think he is over optimistic as well. Lord knows he’s got to be sweating it financially right now. I don’t see a material way forward without some form of dilution. It is what it is.
But I like monitoring the progress, albeit slow.
Meanwhile, shares in drawer, making more popcorn …D
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Amazing how dragging up an ancient squabble can shut down all the dialogue, apology be damned.
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Shouldn’t we be getting some Enami numbers by now?
Shouldn’t we be buying jumbo drills and more trucks and hiring more mining crews and making money?
Or perhaps we are gonna sit around and contemplate a flotation plant and how we can’t afford one for 8-12 months before anything productive occurs.
Sorry, but its difficult to be optimistic or patient any longer. Just look at Trader Rich. If we have arrived like BB is shouting ad nauseum, why is someone who has 7 figures exiting. At the very least that should tell you something about this current management team’s ability to instill confidence. The time for exclusively comparing them only to the old corrupt guard has expired.
I’ll say it again, if this is a legit world class find and the assays confirming historical production is equivalent to a measured resource, then what is the issue? We should have our pick of the litter of suitors to kick this thing into high gear. All this talk about all the difficult work and risk has been completed without dilution and how MC gambled and won, well when are we gonna feel like we won? Because someone just exited a once 7 figure position not feeling at all like a winner. It says an awful lot that someone like TR who has all the reason to see it through can’t even stomach any more of it.
I challenge this management team to start getting very descriptive about forecasts and tangible outcomes and execute without missing timelines.
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I guess you’re going to have to wait until the October update to see what the next step is.
Well, there it is! Similar to the way you cut down others and twist their words, now you do the same to me. You interject and assume things I’ve said (or never said) so well, you’ve been promoted to poster boy for that old ass-u-me phrase. 
As far as your comment about BB and what you assume I believe, you ignore how often he writes a disclaimer note as he shares his ‘opinions.’ He does not present his opinions as fact. However, he has cited many facts in his DD, combined with his knowledge of geology & mining, to share important info that most here appreciate reading. I don’t know if his DD will point to the promised land or not, but much of what he says makes sense. Not that your posts aren’t appreciated too, but yours often come with growling and bared teeth about someone. 
You know it’s true. By the way, didn’t I just recently post that your suspicions about Les Price turned out to be right after all, way back then?
I’m fully aware of what has or hasn’t been done with either MDMN or AUMC. And yes, there are holes that have not been accounted for as of yet. But naysayers here are doing plenty of their own assumptions & guesses to fill in those voids. Is that supposed to be more reliable somehow?
The past is the past, I’m over it. Aren’t you? 
I, for one, am looking forward to the fact that AUMC has a lot going for it, despite the setbacks and lack of transparency. I’ve been disappointed too, but I also know that MC has s-l-o-w-l-y been meandering in the right direction. I’ve read your posts about how this investment has been dramatically decreasing for the past “7 years.” We can all see that, no doubt. But not every setback has been MC’s fault.
The fact we’ve had no dillution of our investment is a positive. MC has made significant progress in some areas. Not so much in others. Just because he’s not doing it the way you think it should be done doesn’t mean he doesn’t have a vision. We’ll see what happens from here. But as I said before, I’m looking at the glass half full. I’m so sorry that you nearly drank yours up. 
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Just for the record: TR had his reasons for selling his MDMN shares over a period of 4 months. He didn’t say he sold his shares of AUMC. His reasons (below) make sense in his particular case. He regrets that he didn’t protect his capital.
FWIW, Auryn has just recently commenced production. Progress is progress. We aren’t going backward.
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Yes, for the sake of clarity, if my cost basis was as low as .04 or lower I probably would have held my MDMN shares. When, back in I think 2012 when the stock ran to .19 and all here were in uber hype mode over the prospects of I think the Ulander deal, instead of holding a several million share position with around an .05/.06 basis and selling half for 50% or better profit and being content to hold the rest, I kept buying. Then I had a couple more opportunities to lighten up for some profit and did nothing… and then eventually watched the stock slide all the way here. If I had fewer shares and a lower basis I could have doubled up my position down here relatively cheaply and significantly lowered my basis, giving the AUMC dividend shares a better chance of lowering the cost basis of my current shares which are over $5. But my stupidity squashed all of that, so after so many years with what currently looks like a very slim chance for the stock to do well enough for me to get much of a return, I opted to unload my MDMN for about 22k and change, eat the loss, appreciate the lessons and move on. If I had done just a couple smart things during all that time I would have made a nice profit here and would be sitting on free shares that I’d be content to let sit into perpetuity, but no dice. As I said before, I do hold around 65k AUMC shares that I have no intention of selling unless it gets the kind of volume that will allow me to do so without hurting the share price. I’m not a billionaire or anything but I have a comfortable life and the few that have visited me know I live quite like a minimalist, so the loss hurts but life goes on and I’ll be fine.
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For any of you folks that are interested, I started a new thread here. Check it out and participate if you feel so inclined. Maybe we can help each other make some money with other investments/trades since we’re here anyway.
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