You gotta love that BB doesn’t offer a single negative scenario to his list of reasons for a delay. 30 years of missed forecasts, disappointments, and a 99% loss on his investment and there’s no room for the possibility that these delays (on mettalurgical results that shouldn’t take more than a few weeks) may not be “ideal”.
If these guys announce an actual offtake financing with an actual third party in this PR you’ll never have to suffer from my “dose of reality” postings again. Scout’s honor.
OK, apologies, I just couldn’t resist. It’s been 78 days since the last company update and you’ve only posted a total of 30 times since then. I guess you can be excused since we started a new thread and you’ve only enlightened us 10 times since the beginning of the new thread here. I’d truly miss only seeing your occasional posts.
On Persistence
The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on. - Barack Obama
I’m just thankful that your post didn’t include a series of cut and pastes from your previous posts. It’s twice as hard to ignore them twice. Not sure if its more funny or sad to see a group of shareholders so blindly supportive of whatever AUMC reports. This would be commendable in a support group but not when trying to make sound investment decisions. I look forward to the update!! I’m sure there’s a reasonable explanation for why it takes 4 months to get results on a bucket full of ore. Maybe the results are so good that they will need to halt the stock?
That is an inspiring quote from the former president. The future does indeed reward those who move on.
My hunch is they just want to have something definitive. One thing I do know - this is not going to happen overnight. This is all sunk money today - there will be no pump or spike rise / fall. Slow and steady as MC tries to build a real company. My 2 cents.
It’s been awhile since MC has taken over the company. Yes he has saved us from Les and dilution of shares and it is greatly appreciated. Personally I would want the company to move faster than a snails pace. We are in a gold bull market and it is going to get even better I don’t want to be stuck another 5 years waiting for the company to be firing on all engines and miss this bull run because after that you are looking at 10 years. And a few here don’t have this precious time.
Maybe MC will sign some kind of deal that will benefit us shareholders in the short term with one of the companies. (MOU’s).
“My hunch is they just want to have something definitive.”
Wiz, I’m not sure you realize how weak that sounds. I’d be satisfied if they just came out and said we’ve completed the ventilation chimney. Anything !!! And then said “more to follow”.
I agree. Some of use are still alive to regret this fiasco of trust and management. the worms will probably be on my doorstep by the time this actually pays off.
You cannot get a more corrupt market than the metals market. They try to control everything and show mom, pop and the rest of the world that everything is dandy. Well since the debt ceiling fiasco the US is another trillion in debt. One day all this debt is going to blow in their face!
Are we waiting on these results…This was sent off in April
To ensure that AURYN can meet the terms of the agreement with the minerals trader, a 120 kg sample of the ore has been sent to two different specialist labs in Peru for comprehensive testing. The sample is expected to clear customs in Chile this week and will then be sent to the labs in Peru. These tests, including gravimetric and chemical assays, will provide crucial information for maximizing profitability under the agreement. The analysis will be carried out in special laboratories in Peru since they offer the most complete set of gold tests we have been able to find. The labs that we use in Chile are unable to perform all the metallurgical tests required to satisfy the requirements of the terms sheet.
Maybe it took along time to clear customs…lol
Just seems very long to get results. I am hoping for a good update since they are making us wait.
If they give us a lame update for waiting a month late I will be suprised. time will tell
Correct, the “positive” spin is they know they just have to wait a little bit longer to get some information and then they’ll be able to give us a full picture of what we’re looking at.
The “negative” spin would be them not wanting to have to deal with giving us bad news. I don’t see that happening either, would be a surprise.
Another good read. The beauty of these arrangements is that BOTH Auryn and the OFFTAKE PARTNER become highly-incentivized to crank up production RAPIDLY because BOTH make more money when the VOLUME of concentrate produced increases. We might get our “jumbo drill” after all.
You make a good point and one worthy of actual discussion. Offtake agreements are an excellent source of alternative financing in the current, challening environment for precious metals co’s. There are a ton of junior mines with over a million ounces of gold in the ground (actual proven resources) that have been unable to generate much private or public value to their shares b/c of the punishing markets/sentiment. Many of these co’s are trading at valuations that equate to $5-$10 per ounce of measured ounce in the ground. Pretty absurd but a current reality. It’s almost impossible for these guys to justify raising $5 to $20M via equity to advance into produciton b/c the dilution would wipe out the current shareholders. Offtake financing or forward sales can make a lot of sense. This is one of things I actually focus on as the offtake provider b/c this type of alternative financing (streams would be in the same bucket) also allow the lender a superior position in the cap structure through senior security.
There are a handful of knowledgeable posters here, who actually have first hand mining experience. It would be additiive to this forum if they could provide an opinion as to the likelihood that AUMC, with the mine at its current stage, could be a candidate for offtake financing (real, third-party structured financing).
I know I’m guilty of sending dream pictures of big mines and loads of gold. This was mostly to let people ground themselves of what some dream it will be. Hopefully it brings some visual reality into what those pipe dreams demand.
Like I said I would think longer we wait the better the news to come out since they are making us wait when they could of just done a update on schedule
If longer than a few more weeks I would hope they send out another tweet to let us know what’s going on
