rent? For years he’s been getting all that space for free. Now it’s standing room only.
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It is a fact, provided floatation processing is available, that the DL Antonino tunnel shows the Fortuna mine area has economically significant CU valuation present to warrant pursuing. It has been concluded that recovery will require floatation and the most overall profit will be met with an onsite floatation plant.
So considering potential JV projects exist for financing, I would think the most historical work was provided on the Las Dos Maria (LDM) in 2013 by the private owners of the NUOCO Company, Compañia Minera LDM Chile and Compañia NUOCO Mining Chile S.C.M. A report was not made public, but Auryn Chile Spa looked it over as part of a it’s early JV review, finally acquiring the property in 2015 (NUOCO Agreement | AURYN Mining Corporation). The approximate size measured 400 meters by 500 meters by 200 meters at undetermined depth. The interesting part is that there are very large veins containing both gold and copper mineralization. So why was the LDM abandoned when the considered potential asset value was nearly $2 billion? Could Hochschild make an underground mine work here? Underground mining is their area of expertise. It is also true that Hochschild primarily focuses on the exploration, mining, processing and sale of gold and silver in the Americas. My guess is there was not enough free milling gold in the deposit. So was it worthless? Without a floatation mill it did not fit Hochschild’s preferred criteria.
(http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=3422)
It’s no secret that these deals were before the share structure was destroyed which also left the investment cash poor and nearly decimated progress moving forward. Shareholders have forgotten the potential value of assets AUMC has to move forward. The LDM is only one of the five that BB had mentioned for possible JVs. This is reason enough for me to not write this company off and allow management the time it needs. No hype needed, just facts as the company moves forward.
EZ
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Love the new profile. I for one appreciate all of your contributions on this board and I’m sure BB is eternally thankful for your defense of his stories.
Just trying to keep track of a few of the recent “narratives”
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Predictions for a non-dilutive financing to build the plant via a potential JV. Let’s just try to pretend that an existing major already has an option to lock down the assets on very attractive terms (for them) but decided not to proceed.
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Predicting grades of anything below 60pgt is just the negative Nancy’s trying to create doubt so they can buy cheap shares.
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Claiming that the decision to NOT produce and pursue a plant as an alternative is the equivalent of winning the lottery.
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There’s no way that AUMC would consider selling shares at this price.
This is on the back of defending Les, claiming that AUMC was fully funded to begin production (7 years ago), telling investors that MDMN was a better buy than AUMC (for the past 5 years), the offtake financing was going to happen, imminent production and a cash flow machine (for 20 years) etc, etc, etc.
The list is endless. As is the entertainment. If BB turns out to finally get one right (on any of the preceding positions) you’ll never hear from me on this board again. Unfortunately, he won’t get them right and, because he can’t even manage to speak to the company, he is damaging the potential of the stock with laughably unacheivable milestones. I beleive AUMC will meet some credible milestones but the fantasyland numbers offered here will make those credible milestones toxic for the share price (mostly over the short-term). It just creates more heavy lifting for Maurzio who, again, I belive will ultimately succed and grow into the current valuation.
I don’t own the stock. I’m not leaning on conspiracy theories and claims of fraud to make up for a decades long failed investment. My head is clear as a Sierra lake but, just like the last time BB claimed I was legally liable for calling out Les, I WILL respond to accusations of fraud. Especially given the track record and wake of wealth destruction from the accuser.
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I’ve come to the conclusion that you are incorrigible. Reading back a few months, it’s obvious that you don’t even read much of what BB posts. You might skim through the words to see if you can cherry pick some form of attack against him, but not before twisting them beyond recognition.
BB clarifies any speculations he posts with a disclaimer affirming that it’s his own opinions. That alone blows your accusations out of the water. I’m not wasting anymore time pointing out examples that you never read or acknowledge anyway. Unfortunately, you’re in a perpetual state of denial.
Gold back over 2000
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IS AURYN MANAGEMENT LIKELY TO ATTRACT A DECENT FINANCING PACKAGE FOR THEIR NEW FLOTATION FACILITY WITHOUT RESORTING TO SELLING SHARES OUT OF THE TREASURY?
- Management has a very viable option of NOT building the flotation plant right now and simply sending extremely high-grade ore to Enami until they have built up enough profits to pay for the plant.
- Management is currently mining and stockpiling extremely high-grade ore at the DL2 Mine. This extremely valuable ore can serve as COLLATERAL for any loan. The financier is going to have a completed flotation plant and plenty of “feed” (in the form of stockpiled ore) to pay off the loan. Contractually, Auryn could metaphorically hand the financier the “keys” to the plant, until the debt is paid off. I don’t see a whole lot of RISK to a financier especially with the price of gold nearing all-time highs. Financiers have large sums of money and their goal is to get a RETURN on that money. The incredible margins present as evidenced by that EXTRA $5,000 per tonne in income if Auryn were to “float” their own ore, is part of the collateralization of the loan. It’s the new flotation plants that allows access to the enhanced economics.
- In the most recent press release/”quarterly update”, Auryn management referenced: “Management is also actively engaged in discussions and presentations with potential investors for financing the construction of a milling facility. This effort reflects our commitment to LEVERAGING ALL AVAILABLE RESOURCES (my emphasis) to optimize the value of our mining operations.” The question then becomes, which of the other “AVAILABLE RESOURCES” are they referring to and what might this financing package look like. Note that part of this new “MILLING FACILITY” is a new on-site assay lab. If a potential strategic alliance partner with an eye on one of Auryn’s other assets, were to execute a JV with Auryn, the first thing they would want is access to an on-site assay lab. This would streamline their exploration efforts enormously.
- Also in the most recent press release, Auryn cited: “Additionally, we are gearing up to explore and prepare other promising areas on our site.” They also noted: “Beginning in October, we will initiate the necessary permitting process for the flotation plant, including all required submissions for plant operations, tailings ponds, and an on-site lab. In parallel, preparations are underway for the launch of new mining operations in the Lipangue area.” The question begging to be asked is what exactly are these “preparations of OTHER promising areas on our site” as well as what exactly are these “new mining operations in the Lipangue area”. Does “In the Lipangue area”, refer to within the ADL Mining District 100% owned by Auryn, or to an outside operation that might want to share the use of and the paying for our new processing facilities? If the latter is true, then I would think that the facility might be built at the base of the hill.
- Also in the most recent press release, Auryn cited: “Once we submit the permit application for the flotation plant, we plan to promptly initiate the preparatory civil work for construction and installation. Our ongoing efforts will focus on the continued extraction of high-grade minerals from the Don Luis vein. Management is ALSO actively engaged in discussions and presentations with potential investors for financing the construction of a milling facility.” I read this as OVER AND ABOVE THE PLANS FOR THE FLOTATION FACILITY, MANAGEMENT IS ALSO (accent on the “ALSO”) ENGAGED IN DISCUSSIONS AND PRESENTATIONS WITH POTENTIAL INVESTORS FOR FINANCING THE CONSTRUCTION OF A “MILLING FACILITY.”
A ”MILLING FACILITY” typically refers to a system of crushers and grinders the product of which is a sandy-like mix, with particle sizes matching the size in which the maximum recovery rates can be achieved by a beneficiation methodology like “froth flotation”. A “froth flotation” plant is often incorporated into a “MILLING FACILITY”. My read is that this new facility might be more than just a “froth flotation” circuit. Auryn already has a “crusher” on-site as well as conveyor belts. The work done by the University of San Sebastian over the last 2-plus years on testing the DL2 Vein ore and its amenability to being beneficiated through “froth flotation”, resulted in an ideal particle size (often around 75 microns) that brought about the highest recovery rate. Other “milling equipment” might be needed to achieve that idealized particle size.
- I don’t pretend to know anything about Maurizio’s finances. He has loyally advanced all of the cash needed to go into production. I can only assume that one possible option from here on out is that he continues to advance funds towards the construction of the flotation plant. With Maurizio owning about 60% of the shares of Auryn, the last thing in the world he wants is to have that ownership percentage diluted by the sale of Auryn shares at anywhere near the current share price of Auryn (about 30-cents).
WHAT’S THE TAKE AWAY FROM ALL OF THIS MINING INDUSTRY MUMBO-JUMBO?
They’re building a mining operation with a fairly broad base to accommodate future growth in production. The operation already has plenty of SCALABILITY due to the recently enhanced ventilation and safety egress systems approved by SERNAGEOMIN. This allows the simultaneous mining of not just level 3 but the sub levels under level 3.
A key piece of information to keep your eye on is the “throughput” of this new “froth flotation” facility. Due to cost issues, you don’t want over-capacity at the beginning of operations. But, due to the ability to rapidly ramp up production, you want enough capacity to be able to grow into without creating bottlenecks.
It seems like a million years ago now, but at the Auryn-hosted “informational meeting” in Las Vegas several years ago, Maurizio clearly articulated the goal to become a “mid-tier gold producer” in as short of a timeframe as possible. When he first said, I have to admit that I was a little bit disappointed. I thought that he was getting a little bit “out over his skis”. As I now look backwards over the last 7 or 8 years, I can clearly recognize incremental progress towards that goal especially in the timeframe after which Auryn finally intersected the DL2 Vein.
Since that intersection of the DL2 Vein on 1/4/23, management has clearly caught their stride and seems to be hitting on all cylinders yet the share prices of both Auryn and Medinah have been consistently hitting all-time lows. It’s as if “the market” and corporate progress have been somehow “DECOUPLED”.
EVIDENCE OF THIS DECOUPLING PHENOMENON
Not too many years ago, Auryn management, with clear visibility of the playing field, was aggressively buying shares of Medinah at 120-times Medinah’s current share price. Let’s factor out Les Prices corporate governance “issues” and call that 60-times the current share price. The share price of Medinah is down 99.9% from its high despite the fact that it owns 24% of the ENTIRE ADL MINING DISTRICT.
Based on Medinah’s share price of around $0.0006, its number of shares outstanding of 2.85B and its 24% ownership of the ADL Mining District, this thing called “the market” is valuing the ENTIRE ADL MINING DISTRICT at $7.1 million. That is not a typo.
OK, BUT WHAT HAS HAPPENED SINCE AURYN MANAGEMENT WAS BUYING MEDINAH SHARES AT, LET’S SAY, 60-TIMES THE CURRENT MEDINAH SHARE PRICE?
First of all, Auryn owns 100% of the ENTIRE ADL MINING DISTRICT. Medinah owns 16.4 million Auryn shares, which amounts to a 24% stake in Auryn. Since Auryn management was paying 60-times the current share price of Medinah, Auryn has gone into production and is currently stockpiling extremely high-grade ore awaiting the construction of their new “froth flotation” facility. Since then, the price of gold is up over $800 per ounce. In depth studies have revealed that Auryn can make an EXTRA $5,000 per tonne if they were to construct their own “froth flotation” facility and store the “tailings” on-site. Since this timeframe, SERNAGEOMIN has approved of Auryn’s new ventilation system and their new safety egress system allowing Auryn to simultaneously mine from several different levels at the DL2 Mine. THE VALUE OF THE ADL MINING DISTRICT HAS GONE UP MARKEDLY AT THE VERY SAME TIME THAT THE SHARE PRICE OF BOTH AURYN AND MEDINAH HAVE FALLEN OFF OF A CLIFF. This is the “DECOUPLING” of the value of the assets from the share prices and market caps of the owners, that I referred to.
If you factor in the enhancement of the value of the ADL Mining District with the fact that Auryn management was paying 60-times the current share price of Medinah, that 60-factor might be more like a 90-factor. CLEARLY SOMETHING IS AMISS WITH THIS DECOUPLING PHENOMENON; MARKETS ARE SUPPOSED TO BE “EFFICIENT”. Production has started at a time when the price of gold is approaching all-time highs and at a time when Auryn only has 70 million shares outstanding.
ONE THEORY OF THIS DECOUPLING PHENOMENON IN REGARDS TO MEDINAH
I can see how people would look at that 2.85 billion share count as being a negative. Medinah looks like a big fat slob. But wait a minute, those “big fat slob” shares are about to be converted to a “super model” share structure, as it were, with only 70 million shares outstanding. This “CONVERSION RIGHT” is a freebie and it will occur right after Auryn becomes fully reporting to the SEC which greatly uncomplicates the “DISTRIBUTION” process involving Medinah “DISTRIBUTING” their 16.4 million Auryn shares. It is much, much easier if the shares being “DISTRIBUTED” are “fully reporting” to the SEC. The SEC is not a big fan of the OTCMarkets Group. They would rather have ALL U.S. Corporations be fully reporting to the SEC. Congress disagrees because it would be too much of an economic burden on tiny corporations to be fully reporting to the SEC especially after Sarbanes-Oxley.
My investment approach has been to buy the HIGHLY-DISCOUNTED shares of the “big fat slob”, wait for the FREE CONVERSION and later sell the shares of the “super model”.
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No offense BB, but my investment goal for this company is completely different from yours. As I’ve stated before, I’m over invested in this company. I firmly remain patient for MC to reach his “dream” for this company, which is the same as mine. I do think we will all make it. I do still invest in speculative stocks, but there are other projects much closer to fruition that are incredibly down in this market and undervalued right now compared to this one. My preference for the shorter term is to invest in beaten down profitable producing miners that still have a cash reserve. Everyone has their own unique investment goals and style. Ideally, we should invest accordingly.
This stock is not ripe for promotion right now, but for those that can afford to “invest” on this very speculative play it may be a good time. It is not my intention to discourage anyone. Some who post here have repeatedly dwelled on everything negative, which I should point out does not affect anyone who is fully invested. Everyone has their own goals that are highly dependent on what finances they can risk and how long it may take to realize a return. This company has derisked many more negatives from past blunders that make it most likely MC’s management team will be successful within a time frame that has yet to be determined. The ADL is rich in mineral deposits that need to be fully explored and developed to add to the asset base. By the end of the year, tax loss selling should be completely gone and I expect buying will pick up quarter by quarter. I anticipate we will rise on plenty of positive events being released. I plan on having a very good year in 2024 with many positive milestones being reached in the year ahead for everyone here.
Best wishes for a very Happy Thanksgiving to all.
EZ
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I think back to when I actually read ALL of your BS. I thank whatever power exists that I only lost about 25K to this dog. I also thank that power for BaldEagle and his excellent remarks.
I won’t be posting again on this forum nor will I read it again. BrecciaBoy is not in his right mind about this stock. He was played (like so many of us!) and is continually trying to justify his losses. If that isn’t the case, then BB is nothing but a scammer still trying to wring every last cent out of his/her followers.
Jeez. I know that I was a ripe little melon ready to pick but it’s time to throw the rotten ones away.
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Its crossed $2k several times now. Looking forward to when it finally holds as a floor.
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BB did anyone from Auryn Management get back to you regarding the questions you sent recently?
Regarding the frustration about MDMN not distributing its AUMC shares to its shareholders, we need to know that MDMN has liabilities of $400K (9/30/23 financials) which will have to be paid before the AUMC shares can be distributed. A minimum of 1,503,759 AUMC shares @ .266 (current bid price) will have to be sold which will reduce MDMN’s ownership percentage of AUMC from 24% to 21%. The reality is that because AUMC shares are not very liquid, it would require the sale of substantially more AUMC shares resulting in our ownership percentage of AUMC falling below 20%.
The only way to minimize this level of dilution is to wait for positive things to happen and then sell the shares at hopefully substantially higher prices.
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Hi EZ,
Yes, our approach is different. Part of my problem is that I won’t buy a share of a mining company unless and until I put in probably 50 or so hours of good hard due diligence or paid somebody to do it for me. In the case of Medinah, many years ago, I hired 2 geologists, about a year apart, to go to the ADL Mining District and write me up a report answering a checklist of questions I provided them with. One geologist, from Alberta, Canada, especially liked the vein deposits while the other, from Arizona, especially liked the Pegaso Nero porphyry deposit prospect.
I concentrate on mining industry investments. Geochemistry is the heart of mining and I taught biochemistry at the doctorate level, so I figured I might as well invest in an industry where I might have a slight advantage. My dad was a metallurgist for 72 years of his life specializing in molybdenum incorporated into stainless steel.
In mining industry investments, what I do is make a list of the milestones needing to be achieved from the onset of exploration all of the way into production. There’s about 30 on my list. I’ll then rank them in importance. If a milestone of average importance is reached, I’ll invest “X” amount of dollars but only after that milestone is reached. If a milestone of significant importance is reached, I’ll put in perhaps “2X” amount of dollars. In essence, management and their performance, determine how much and when I buy shares.
For me, one of the most significant milestones reached by Auryn had to do with the grades found at the intersection of the Antonino Adit and the DL2 Vein. The first group averaged 164 gpt gold and the second group averaged 150 gpt gold. Kevin commented that this was the single most important press release in the history of Auryn, and I’d have to agree. This told me that the “HISTORICAL SHIPPING GRADES” of the artisanal miners to Enami (64 gpt gold after Enami took out their fees and prior to any beneficiation), were trustworthy. I was expecting somewhere around 85 to 90 gpt and I was obviously pleasantly surprised.
Another significant milestone, for me, was SERNAGEOMIN signing off on the new ventilation system and the new emergency egress chimney. You might remember in 2010 when the 33 Chilean miners got trapped in the Santa Maria Mine for 70 days. The owners of that mine were too cheap to have an emergency egress system. Ever since then, SERNAGEOMIN has been a stickler on these systems. SERNAGEOMIN’S signing off allowed Enami to accept regular shipments of ore from Auryn. This PERMIT was of huge importance for me. I feel like I’ve spent half of my life in the mining sector waiting on and sweating over delayed and/or refused permits. I was thinking that it might take 7 or 8 months to get that signature, but it came rapidly.
You saw on the Auryn website, those pictures of the various Mining Ministers and SERNAGEOMIN executives inside the adit looking at the DL2 Vein while commenting on what a nice job Auryn was doing technically as well on ESG issues. The current Mining Minister, Aurora Williams, as well as the predecessor Mining Minister, Marcela Hernando, are huge into ESG policies. I think that Maurizio knows how to schmooze with the permitting authorities.
My sense is that when you least expect it, Maurizio is going to drop a bombshell on us that we never saw coming. He is very well aware of the pain that shareholders are in. He’s got a lot of his own buddies invested at much higher levels. In my view, there’s a reason he placed those 2 new “deal cutters” with impeccable credentials on the BOD at that moment in time. That clock has been ticking for a while now. Kevin mentioned that the second most important press release in the history of Auryn had to do with the appointment of those 2 new BOD appointees. I was thinking that something related to that appointment would have been revealed by now, (like maybe a deal) but nothing yet.
There are a lot of junior miners out there to choose from (about 7,000) and a lot of apparent bargains right now. But that’s only if they can DISTINGUISH THEMSELVES from the rest of the pack. Going into high-grade gold production, even if you’re just stockpiling it for now, due to the enhanced economics associated with putting in your own flotation plant, is a pretty good way to distinguish yourself in times like these when gold is near its all-time high. I still believe that the combination of solid earnings and a tiny number of shares outstanding is about as good of a scenario as one can hope for. I’m glad that Maurizio has not wasted much time or money on PROMOTION quite yet. That doesn’t distinguish yourself from others, it just makes your promoters wealthy. EARNINGS are self-promotional.
The thing that sticks in my mind right now is that extra $5,000 that Auryn can earn, per tonne mined, if they construct their own flotation facility AND STORE THE TAILINGS ON-SITE. I keep trying to reverse engineer that statement in order to get more details. I understand that the smelter results from Codelco/Enami came in at 57 gpt gold, 970 gpt silver and 3.3% copper. This is what Enami would pay after they took out their fees. Obviously, these are insanely high numbers.
I also understand that when Auryn got a “SECOND OPINION”, as it were, from an independent smelting facility in Peru, they came up with 128 gpt gold instead of 57 gpt gold for the same DL2 Vein ore. It made sense that Auryn decided that Enami’s proposal was no bargain and that their fees for things like “froth flotation” and smelting were too high.
It made sense that Auryn said screw our original plan to use Enami to “float” our ore that needed froth flotation, we’ll build our own facility and “float” our own ore and pocket the differential of $5,000 per tonne or $100,000 per 20-tonne truckload. I have no clue as to how fancy of a “froth flotation” facility Maurizio is shopping for. If, for example, a new facility with the proper amount of throughput, costs $8 million, then this $100,000 per truckload “differential/bonus” would pay for the CAPEX of the facility after just 80 truckloads. Keep in mind that there is also an OPEX related to OPERATING EXPENSES like buying the chemicals, electricity and water.
The literature suggests that flotation facilities will magnify the grade of the ore by in between 2 and 20-times with an average set at 4-times. It also suggests that the average COST for a flotation facility is $10 per tonne of ore “floated”.
What we need to keep in mind is that if you “float” 20 tonnes of ore that comes out of the mine, the “float concentrate” (good stuff) no longer weighs 20 tonnes. The waste material/gangue, does not go onto the truck, it goes into a tailings facility on the plateau. You might have to “float” 40 or 60 tonnes of ore (a guess), in order to fill up a 20-tonne truck with “float concentrate”.
If you start with a “head grade” (in the mine) of the same 64 gpt gold that the artisanal miners averaged in this same DL2 Vein, and if you get the average 4-times concentrating effect, then your “float concentrate” will have a grade of 256 gpt gold. If you get lucky and can achieve a 10-times concentration effect, your “float concentrate” will grade out at 640 gpt gold. Remember the range is from 2X to 20X for flotation effectiveness.
Keep in mind that the $5,000 per tonne figure is the ECONOMIC DIFFERENTIAL between us floating the ore AND STORING THE TAILINGS/DISCARDS and Enami floating the ore AND THEM STORING THE TAILINGS/DISCARDS. I DO NOT HAVE A BREAKDOWN BETWEEN THE “FLOATING” FEE AND THE STORAGE FEE. Auryn still gets to keep the original amount of money associated with Enami paying 57 gpt gold. This is a DIFFERENTIAL and not an absolute amount.
I want to keep my EXPECTATIONS in check, but it seems to me that if you had a project with a lot of SCALABILITY i.e. the ability to rapidly ramp up TONNAGE due to the ventilation and safety egress add-ons, then there could be a lot of $5,000 BONUS checks coming your way over the years IF, IF, IF you can swing the building of your own flotation facility HOPEFULLY WITHOUT ANY SHARE DILUTION.
BUT DOESN’T THE $5,000 PER TONNE BONUS NUMBER SEEM TOO HIGH?
I’ve been asking that question amongst colleagues and I got reminded of something I had forgotten about. Ore with a grade of 1 gpt gold, which is the worldwide average for OPEN PIT MINES (in underground mines it is 4.18 gpt gold), equates to gold with a concentration of just ONE PART PER MILLION (1 PPM). Why is this? There are 1,000 kilograms per metric tonne of ore and there are 1,000 grams in one kilogram. Thus 1 gpt gold means that in a sandy-like mix of crushed ore, for every grain of sand of gold, there are 999,999 grams of garbage i.e. 1 PART PER MILLION GOLD.
In essence, mining is a “get rid of the garbage” industry AND IT IS ALSO A “STORE YOUR OWN GARBAGE” INDUSTRY especially if you’re operating on a plateau and not a steep mountainside. Enami doesn’t want to store your garbage. You’ve seen those immense “heap leach” piles at Enami facilities. These are literally mountains of sand. There’s a sprinkler system on the top of the mountains that saturates this “sand dune” with a dilute cyanide solution that trickles through the sand dune. The sand dune sits on a rubber mat that has a slope to it leading to a pond called a “pregnant pond”. The cyanide dissolves the gold in the sand and the cyanide-gold liquid solution drops to the rubber mat and then it flows downhill into the “pregnant pond”.
After a certain amount of time, the gold is all dissolved and Enami comes in with wheel loaders and massive trucks and loads up all of the remaining “sand” and ships it away in gigantic trucks to a tailings facility. There they “babysit” the new sand dunes ad infinitum. THIS IS EXPENSIVE.
Enami does not want you to send in 1 gpt gold ore. They’ll pay you a fortune if you concentrate the ore in your own froth flotation facility AND STORE YOUR OWN DISCARDS ON YOUR OWN LANDHOLDINGS, NOT THEIRS. If you send them 256 gpt “flotation concentrate” or 640 gpt “flotation concentrate”, they’re not going to put it on their heap leach pile. They’re going to route it to their “CARBON IN LEACH” (CIL) facility and cyanide leach that concentrate in steel tanks. AS IT TURNS OUT, THAT GIGANTIC BONUS THEY PAY DOES MAKE SENSE.
If you’re a young junior gold producer mining extremely high-grade ore, you might be able to afford a “froth flotation” facility. If you’re mining 1 gpt gold ore, you’ll probably never have your own froth flotation facility. Those fancy BONUSES are only available to the miners of high-grade gold ore that can afford a froth flotation facility.
Typically, what happens is that later on, the junior producer, with its own froth flotation facility, figures out that it can access another bonus if it builds its own CIL facility. After that, they may figure out that they can afford their own SXEW plant and after that the product within those truckloads is gold dore bars. IT IS HIGH-GRADE ORE THAT REPRESENTS THE FOUNDATION FOR ALL OF THESE FUTURE “BONUSES”. THAT’S WHY THE SAYING IN THE BUSINESS IS THAT “GRADE IS EVERYTHING”.
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So you crawled outta your 3-yr cave just to spout nonsense about BB? I’m sure baldy was the supposed “power” behind your sudden jack-in-the-box show.
If you haven’t even read BB’s posts for so long, then it’s rather dishonest of you to take shots at his credibility from the cave. Oh, but baldy’s “excellent remarks” are really keeeping you excited for such a long time. Now his excellent remarks are urging you to express this nonsense for him.
“If that isn’t the case, then…” Your own words indicate that you have no clue what BB supposedly did wrong. That last sentence is hilarious. Most of us here that know BB can see clear through your sorry attempt to discredit him. So you are insinuating … what exactly? Can you explain how he is supposedly fighting “to wring every last cent out of” ppl on this forum? Please, give specifics by all means. Better ask baldy to fill you in on that part, too.
I wonder how thankful you you will feel about a year from now when you realize you sold all your shares based on someone’s “excellent remarks.” Funny thing - because in just the past few weeks, baldy has suddenly changed his tune about Auryn/MDMN after being called out on some of his baseless accusations. NOW he believes Auryn management are on the right track. lol. But, hey … Enjoy being back in the box and on the sidelines.
So you already threw your own rotten melon away. That’s really all you needed to do since you are no longer on this forum, no longer a shareholder and you think it’s all a scam. But, please tell me: Why do you care what “time” it is within this forum when it comes to rotten melons?
I find it rather amusing how just a few non-shareholders can put such great effort into claiming it’s a scam or that BB is lying. Oh, but don’t you worry … you are really a peach and didn’t even know it. Thank you for revealing how motivated you are about baldy’s lies, even tho you can’t explain them.
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Based on his last couple of posts I can guarantee you he has not. Alternatively, IF he ever submits them I would be suprised if he shares any new data points. Why ruin a good story?
The disconnect between equities and the price of gold is pretty well appreciated. As an example the GDXJ was trading at $160 when gold was above $2000oz in 2011. We are back at those levels with the GDXJ trading at $30. Truth be told, this “Junior Metals” ETF most represents larger cap producers and isn’t much different from the GDX. The smaller the market cap the bigger the drawdown. There are 100’s of pre-production AUMC’s out there. There are also many highly profitable companies, derisked, no more dilution, that are trading at 1x forward cash flow. Example: Aris Mining has a $300M cap, $200M in cash and is fully funded to reach $300M in CF by 2026. Just the reality of the markets orrrrrrr maybe its the boogeyman. Or maybe its because at this infamous information meeting AUMC claimed that they were fully funded and production would be imminent. Does mising milestones and timelines while increasing leverage tend to influence share prices. Yup. Especially when in this crappy market for precious metals.
Young lady. After reading your latest post it is clear that you have lost your proverbial marbles. Must be spreading.
I believe Buck (who I don’t know personally or via this board) is referring to the fact that its almost unfathomable for anyone to be so wrong for so long yet continue to post with unbridled optimism (while never bothering to speak to the company). I don’t think BB has any intention of being a scammer. He’s clearly a good guy but sometimes best intentions go awry and people handle it in different ways. Most of the old guard that followed BB into this investment aren’t even alive or invested here anymore. If they are they would need a 100x return to get back to break even. The discreditation isn’t up for debate anymore, just watch the replays of the game (hint: the posts are archived).
At this point the share price is getting closer a level where, if Maurizio executes, there’s a possibility of a 3-5x return (over a long period). IMHO, they’ll get close to averaging 20gpt but processing costs will be extremely high. If they are able to get 10koz annual production they can probablly, slowly start to develope their other assets and turn into a more diversied play. But, again, IMHO, the stock is sideways for another year because a) its very rare for miner’s valuation to appreciated when they are in the process of financing and building a plant and b) the precious metals investor sentiment needs to shift and the micro cap, illiquid plays will be the last to participate once the sector regains traction.
**not a pivot, I own no shares and have no plans to start buying
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This is priceless. Go back and read how you laughed at any figure even approaching 20gpt. Let me know if you need help, I’ll post it for everyone to read. Seems like a lot has changed since your phone call with MC. All of a sudden you are confident he will succeed and your opinion is that we will average 20gpt. And now you are trying extra hard to discredit BB because even you now realize that this has unbelievable upside. Upside that you were laughing off as delusional. Now you are trying doubletime to hedge against eating crow by moving much more toward the middle from your previously extreme negative standpoint.
I’ve always said reality is somewhere in between your negative viewpoint and BB’s ultra euphoric viewpoint. That is continuing to prove itself out.
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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).
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.
From October of 2016. Is 7 years a long enough window to show I’ve been consistent in grade predictions?
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”
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So much projection. And now you keep calling others “emotional” to deflect.
You can refer to the list of debunked claims that you have not yet acknowledged. That was your homework.
Apparently your idea of “doing homework” is digging up your own posts - nothing else. No excerpts from Auryn’s updates, and no quotes from some of the best contributors in this forum. Nope. It’s all about YOU, baldy.
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You claim to be an editor? And this content is written in English?
My post and references to my past posts (confirming that 20 GPT predictions were inline with what I’ve been saying for more than 7 years) was a direct response to Jimmy’s misplaced accusation that I had previously “laughed” at these numbers. I guess I could attach the last 500 posts of other, “more constructive” posters predicting 100gpt grades to bolster all of their fantastical tales of ATM machines at the bottom of the mountain but that’s just mean. As the future becomes reality he’ll have to live with many years of archives. I feel very confident on mine.