Auryn/Medinah - 2023 2nd Half General Discussion

[Baldy]

@Jimmyp1127

Upside that you were laughing off as delusional.

Fascinating to read this post. So much despearation to find a positive spin. I took my licks when I sold many years ago but, since liquidating, and offering my POV as a non-shareholder AUMC is down 85% and MDMN is down 97%. Additionaly, I have clearly stated that I think MDMN is finally getting down to a value that could offer a good entry point if Maurizio executes. Because of the discount MDMN is bascialy trading like AUMC in the high teens (another level that I have pointed to over multiple occassions in the past as a decent entry point).

@Baldy

This being said, recently trading at 22 cents or a ~$15M valuation is starting to get closer to reality. IF management actually starts to report on actual production with reall assays (not experimental batches and a single truck road with mysteriously no revenues) this could be worth a shot in the mid to high teens (pennies) for a lottery ticket (~$10M market cap)

I still think there’s a minimum year before the stocks react (assuming there is reason to) and that I have no interest in owning the shares. If you view this as eating crow, you may also be looking for lost marbles.

Related to grade, I would encourage you to waste your time in the archives and pull up all the “gotcha” posts you can find. I stand by my past predictions. I think 20gpt is possible on a small scale production. This isn’t a major shift. You may have noticed that my main issue was with the 60gpt to 150gpt grades that have been assumed by the “flock” on this board. A 20gpt grade would be the upside and a homerun. Unfortunately, it still won’t meet tainted expectations for rainbows and unicorns.

@Baldy

Sadly, I read through the whole report as well (with two naps in between) several years ago. The problem is that 2000 tonnes would be the equivalent of small bulk sample and not representative of a producing mine. Either way, the data is limited but very exciting (which is why many of us invested here in the first place). The potential for numbers that could turn heads will be there if we get anywhere near 15-20 gpt (once we have the cap structure cleaned up).

From October of 2016. Is 7 years a long enough window to show I’ve been consistent in grade predictions?

@Baldy

Lots of ifs but the $20M is always a possibility. I’d put the odds of achieving 30gpt average ore over any sustainable period at less than 5%. But a 10-15gpt is probably over 50% so, somewhere in the middle.

Beyond the grade is the cost. Even if you assume another crew, additional equipment, I don’t think I’ve ever seen a mining operation of this minute scale able to achieve an ASIC below $1300oz. Yes, the higher grade helps considerably but this is still a blast and mine operation which is barely mechanized and then requires the additional, expensive, steps of transport and toll milling.

Here’s a response to another one of your “emotional” posts from April 2022

Is 3-5x considered unbelievable upside? I think most juniors with decent assets should rally 10x on a simple improvement of investor sentiment for the sector. If I buy some shares of MDMN in six months (assuming everything is actually proceeding) at .0008 (after previoulsy selling at .025) that will be my pivot. May never happen but I’m very pleased with the analysis and my avoidance thus far.

Don’t be Jim, Jimmy. Do your homework before posting.

Somewhat odd that the biggest cheerleader and defender of AUMC/MDMN sent questions to the company and they didn’t even bother responding. No?

Sincerely,

The “PATHOLOGICAL LIAR”