Blasted through $2,200. That stockpile is worth a fortune
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Hi One of a kind,
Iâm sorry but I see that nobody else is probably going to take a stab at your question, so Iâll give it a shot. By the way, welcome back after 14 years. In regards to your comment,â Iâd love to get back to the .10-.15 cents per share level (for Medinah), when I first stumbled upon this stock, will we get there, or above?â
IâM PRETTY SURE THAT A CONSERVATIVE APPROACH IN THIS PARTICULAR ANALYSIS IS BULLISH ENOUGH; I THINK THE IRREFUTABLE EVIDENCE WILL REVEAL THAT THERE IS NO NEED FOR HYPERBOLE
Instead of discussing Medinah going to 10-cents or 15-cents, I think we might want to ground our expectations a bit, at least in the near term, and first look at the case for Medinah going to 5-cents ($0.05) from its current level of about $0.001. This would represent an approximate â50-baggerâ, or a 4,900% gain from current levels. That may not seem very âgroundedâ, but letâs see where the FACTS bring us. Later, as the PRODUCTION RATE moves up, probably in a stair-step fashion as new sublevels under âlevel 3â of the DL2 Mine are put into production and the already completed Larrissa Adit (of the Caren Mine) is commissioned for production, it might be more appropriate to study the chances for a 10-cent or a 15-cent Medinah share price from that $0.05 level if/when reached.
DOING THE MATH ON MEDINAH TRADING AT 5-CENTS
To go to 5-cents per share, a 50-fold increase, Medinah would have to justify a market cap of $144 million (2.88 billion shares outstanding times $0.05). Since Medinah owns 24% of Aurynâs shares (and therefore an âindirectâ ownership of 24% of the entire ADL Mining District, which will become a âdirectâ ownership when Medinah allocates and distributes its 16-plus million shares of Auryn), Auryn, in turn, would have to be able to justify a market cap of $600 million ($144 million divided by 0.24) for Medinah to âearnâ its 5-cent level. With 70 million shares O/S, this would put Aurynâs share price at a $600 million market cap, divided by 70 million shares or a share price of $8.57 per share. This would represent about a â36-baggerâ (a 3,500% gain) from Aurynâs current share price of about $0.24. When you do all of the math, Auryn should trade at about 200-times that of Medinah.
Trust me, I am VERY WELL AWARE that even discussing topics like potential â50-baggersâ and potential â36-baggersâ necessitates a responsible approach in order to keep expectations grounded in REALITY. Having said that, Iâm also aware that in this sector, things like â30-plus baggersâ are not unheard of especially if a junior mineral developer/producer can do everything needed to not only make it into âmining and stockpilingâ mode (if theyâre holding off on shipping ore while building their own FF plant), like Auryn/Medinah is, but while also stockpiling EXTREMELY high-grade gold ore at a time that the price of gold is hitting all-time-highs and the company has only 70 million shares issued and outstanding fully-diluted. Thatâs a lot of stars to line up at one time.
Iâm equally aware that REALITY has become a confusing cloud of dust on this particular investment forum. The question becomes, what is the actual REALITY in regards to Auryn/Medinah and the ADL Mining District. Both fact checking and the presentation of evidence that corroborates the facts discussed are critical in an endeavor like this. I will apologize in advance if some of the geological facts bore some of you to tears. I used to teach biochemistry to doctoral students. Geology and the mining industry itself is all about CHEMISTRY. There is the GEOCHEMISTRY of the ore deposits themselves and their paragenesis (the sequence of formation of the minerals in a rock formation), and then thereâs the PHYSICAL CHEMISTRY involved in the processes used to beneficiate/concentrate the ore that has been mined.
VALUATIONS BASED ON EARNINGS PER SHARE (EPS) ARE THE MOST VALID BY FAR
âEARNINGSâ or more precisely âEARNINGS PER SHAREâ (EPS) are the most valid means to estimate appropriate share prices in the mining sector and in most other sectors. You canât fake EARNINGS and even more importantly, EARNINGS PER SHARE. In this sector, the problem is that less than 1% of all junior explorers will ever make a penny in âEARNINGSâ. Because of this, this most accurate of all valuation methodologies is rarely available. From the standpoint of RISK MITIGATION for investors, it is EXTREMELY refreshing when it is available.
Since corporations in the mining sector average trading at a âmultipleâ of 30.21 times their âEARNINGS PER SHAREâ or âEPSâ (recent study by the Stern College of Business at NYU), Auryn would need to earn $0.28 per share to justify them trading at $8.57, and thus Medinah trading at $0.05. This amounts to $19.60 million per year in EARNINGS for Auryn (70 million shares times $0.28). The question becomes, what are the chances for Auryn earning $19.60 million per year or about $4.9 million per quarter, in order to justify a â50-baggerâ for Medinah and a â36-baggerâ for Auryn.
Iâll give you a hint, the chances for Auryn to meet this earnings threshold are EXTREMELY HIGH just from level 3 of the DL2 Mine AND JUST FROM WHAT THEYâVE PROBABLY ALREADY STOCKPILED OVER THE LAST 205 OR SO DAYS. WHOA NELLIE, did I really just say that? From a macro-viewpoint, you also need to keep in mind that level 3 of the DL2 Mine probably only represents about 4% of the VALUE of the overall ADL Mining District (an estimate) that Auryn owns 100% of. Level 3 of the DL2 Mine just happens to be the first Auryn asset that will be responsible for significant EARNINGS allowing a reliable VALUATION BASED ON EPS to occur. Wait a minute, did I just say that a 4% sliver of the ADL Mining District, could have already met the EARNINGS THRESHOLD needed to justify these â50-baggersâ and â36-baggersâ? Yes, I did.
Contrast this with attempting a valuation on a miner with âXâ amount of ounces of âMineral Reserves/Mineral Resourcesâ in the ground, that may never be mined, and that may never lead to EARNINGS due to the inability to get the project financed or permitted. You either have the ability to generate earnings NOW, when the price of gold is at all-time highs, or you donât. The price of gold is extremely cyclical and a junior mineral developer does NOT want to risk missing an entire cycle.
Another question that arises is WHEN might Auryn be able to post EARNINGS of $4.9 million per quarter. Could they easily do it by merely shipping to Enamiâs smelter, A SMALL PORTION of the high-grade gold ore theyâve already mined and stockpiled over the last 205 days, since they went into âmining and stockpilingâ mode? The answer here is absolutely yes. Wait a minute, did I just say that Auryn/Medinah could âearnâ Medinahâs â50-baggerâ and Aurynâs â36-baggerâ, via earning $4.9 million per quarter, by simply shipping to Enamiâs smelter A PORTION of the ore that they have already stockpiled? Yes, I did. You need to remember that in the gold mining sector, when the price of gold (âPOGâ) breaks out to the upside, nearly all of that increase in the price of gold drops straight down to the bottom line. Of course, the converse of that is also true. When the POG goes down, it will tend to be drawn right from the bottom-line earnings. So, again, timing is everything. In an election year like this, and at a time in which the FED is apparently about to commence an easing cycle, the timing looks to be extremely fortuitous.
The question then arises as to exactly HOW a 4% sliver of the overall ADL Mining District can generate enough earnings in its first 6 or 7 months of production, to justify a â50-baggerâ and a â36-baggerâ for its owners. Again, the primary co-factors for this reality are the extremely high-grade of the ore, the price of gold being at all-time-highs and Auryn only having 70 million SHARES outstanding (the âSâ in the EPS fraction). These 3 co-factors act in a SYNERGISTIC fashion.
Itâs all in the math. Letâs assume that the statistics say that there is a 1-in-1,000 chance for a junior gold miner to go into gold production averaging an extremely high-grade of gold production of âXâ gpt gold. Letâs also say that at any given time, there is a 1-in-100 chance of a junior being in production when the POG is trading at all-time highs. Letâs also assume that there is a 1-in-100 chance for a junior miner having only 70 million shares outstanding while going into gold production.
This means that the statistical chances for a junior miner to be producing extremely high-grade ore of âXâ gpt gold, at the same time that the POG is trading at an all-time high, while having only 70 million shares outstanding would be 1-in-(1,000 times 100 times 100). In other words, it would be pretty darn rare to accomplish this âtrifectaâ.
A 4th co-factor is the tremendous amount of SCALABILITY present at the DL2 Mine due to the new ventilation system and Aurynâs new found ability to simultaneously produce from several levels, including and below level 3. This was provided by SERNAGEOMIN signing off on Aurynâs new ventilation system as well as the new safety egress system. Kevin, the ex-CEO of Medinah, recently made a post on âTHEMININGPLAYâ investment forum. He stated that shareholders would be amazed at what kind of PRODUCTION RATES Auryn is about to generate once they are simultaneously producing from â8 to 12 working facesâ (from 4 to 6 mining levels) at the DL2 Mine. Might this be another 1-in-10 phenomenon? A 5th co-factor is that Auryn still owns 100% of the entire ADL Mining District. Getting all of the way into high-grade production without having to give up a percentage of the ownership of the project to a major is a rarity. Perhaps only 1-in-10 junior producers throughout history have been able to retain 100% ownership of all of their mineral assets at the time of going into production.
What you might want to do is to look at all of these co-factors as a âPACKAGEâ OF FACTORS THAT ARE CURRENTLY IN PLAY. If the price of gold were to go down $1,000 per ounce tomorrow, then it would only be fair to remove that from the âPACKAGEâ.
MORE MATH
Based on todayâs prices of gold, copper and silver, and the recent smelting results of the âexperimental batchâ sent to Enami (57 gpt gold, 978 gpt silver and 3.21% copper, representing 70 gpt âgold equivalentâ), one tonne of this ore would bring in about $4,900 AFTER ENAMI TOOK OUT THEIR âTCâsâ AND âR/Câsâ (treatment charges and refining charges) i.e. smelting fees. In order to earn $4.9 million per quarter, Auryn would thus have to ship about 1,000 tonnes of this ore in any given quarter. This would represent about 50 truckloads in their 20-tonne truck. If they could ship 3 truckloads per day to the nearest Enami smelter, probably the Caletones Smelter near Rancagua, Chile, this would take about 17 days with Aurynâs 1 truck.
Based on Aurynâs previous guidance of being able to produce at an INITIAL PRODUCTION RATE of somewhere around 40 tonnes per day (40 tpd), and the fact that they have been in âmining and stockpilingâ mode for about 205 days, they could THEORETICALLY (but donât bet on it yet until you get confirmation from management) have as much as 8,000 tonnes of this extremely high-grade ore stockpiled to date, IF, IF, IF they hit their targeted guidance of 40 tpd.
But letâs be fair, recently Auryn management announced in a quarterly update that they were producing at a âmodestâ rate. For the sake of conservatism, letâs cut that 8,000 tonnes figure in half and assume that they might have somewhere around 4,000 tonnes of high-grade ore stockpiled to date, and that they are adding to that tally on a daily basis.
Under this more conservative scenario, Auryn could start shipping one-fourth of their currently stockpiled ore (one-fourth of 4,000 tonnes or 1,000 tonnes) TODAY and earn that $4.9 million per quarter IMMEDIATELY. Thatâs not the current plan, however, because they know that they can earn an extra $5,000 per tonne, over and above that $4,900 per tonne Enami smelter figure, by installing their own froth flotation system and bringing some of the ore processing functions on-site at the ADL, rather than delegate them to Enami and their âtollingâ process. Note that the building of a FF plant also sends the message that Auryn plans to be mining there for quite some time, otherwise theyâd just enter into a âtolling agreementâ with Enami.
What does the presence of an on-site froth flotation plant and on-site assay/metallurgical lab do to the VALUE of the overall ADL Mining District? The VALUE of EACH of the other 5 Main Veins contained within this âVEIN SETâ, as well as the various adnexal structures like the Pegaso Nero, the LDM, the skarns, breccias, mantos, stratabound copper deposits, etc. will increase in VALUE due to the presence of this new milling facility with the on-site lab. There will be no further need to TRANSPORT ore to an outside froth flotation facility or lab.
Instead of using the term QUARTERLY EARNINGS, maybe we should entertain a new term custom-made for Auryn/Medinah in their rather unique situation of âmining and stockpilingâ while awaiting the construction of the new FF circuit. How about: âIMMEDIATELY REALIZABLE QUARTERLY EARNINGS IF AURYN OPTED TO SHIP A PORTION OF THEIR STOCKPILED RAW/âUNFLOATEDâ ORE NOW, AND FOREGO THAT EXTRA $5,000 PER TONNEâ. I look upon that OPTION, to put up an FF circuit in order to access that $5,000 âbonusâ, as a VERY GOOD THING.
That OPTION, however, doesnât necessarily need to be âexercisedâ, in order for Auryn/Medinah to meet that EARNINGS threshold of $4.9 million per quarter. What sometimes gets lost in the shuffle, with Auryn opting to build their own FF plant, is the fact that Auryn does have that OPTION to start shipping their stockpiled ore TODAY, and easily make enough money to justify those â50-baggerâ and â36-baggerâ seemingly âpipe dreamsâ. Shareholders and prospective investors need not wait until the FF plant is completed and commissioned to realize that Auryn has already met that threshold, but who wants to leave that $5,000 per tonne âbonusâ on the table.
If Auryn has the OPTION to earn, on a quarterly or annual basis, about 4-TIMES what would be necessary for Medinah to meet the EARNINGS THRESHOLD to justify that â50-baggerâ or Auryn to âearnâ their â36-baggerâ, but instead opts to go for a âMEGA-VICTORYâ upon commissioning a new FF plant, and nearly doubling those earnings figures, THEN THATâS STILL A HUGE VICTORY. I think a lot of shareholders are under the false impression that Aurynâs âHUGE VICTORYâ has somehow been postponed because of the decision to build an FF plant. The OPTION to sell extremely high-grade ore TODAY, with gold trading at an all-time historical high and with only 70 million shares outstanding, is what sealed the victory. With the price of gold where it is today, I wouldnât be surprised if Auryn ended up opting to SELF-FUND the construction of the FF plant. Keep in mind that Enami, is famous for funding projects like this at extremely low interest rates, for the Chilean junior producers they service.
From a balance sheet point of view, in the mining industry, âstockpiled oreâ can be labeled as a âcurrent assetâ. This means that it can be converted into CASH within 12 months. Itâs up to the Auryn accountants as to how they choose to treat these âassetsâ. When given the choice of selling the currently stockpiled ore TODAY for âXâ millions of dollars, or waiting for the completion of the FF plant and being able to sell it for about â2Xâ millions of dollars, the Auryn BOD unanimously chose to go for choice âBâ and access that âextraâ $5,000 per tonne.
A WILD HUNCH
When you just read that comment about a theoretical â50-baggerâ for Medinah and a â36-baggerâ for Auryn, many probably rolled their eyes, and I understand that. Those are HUGE financial scores by any metric. But when you read that figure about Auryn only needing to earn $4.9 million per quarter in order to justify those â50- and 36-baggersâ, you probably didnât roll your eyes, did you? The $64,000 question then becomes WHY IS THIS? Why does a â50-baggerâ for Medinah seem like a pipe dream while Auryn earning $4.9 million per quarter, in order to justify that â50-baggerâ, seems more down to earth? Theyâre one and the same, as far as Medinah and Auryn âearningâ those multiples of current share prices.
The answer to this apparent enigma has to do with the appropriateness of the CURRENT market caps and CURRENT share prices of Auryn and Medinah. It has to do with what the âREALITYâ really is. The REALITY is those 5 co-factors, all working in SYNERGY with each other, and feeding off of each other to create a POSITIVE FEEDBACK CYCLE. When the grades of the ore are extremely high as in this case, and the price of gold is at all-time highs, then EARNINGS AND EARNINGS PER SHARE will go up. As the EARNINGS go up there is money available to aggressively ramp up production rates, which in turn drives up the EARNINGS that much more, which in turnâŚâŚâŚ.
Want another weird factoid? Maurizio and his colleagues, the âSmart Moneyâ that lives the âREALITYâ every day, and has been talking with the engineers and geoscientists all day long for years, were buying up large blocks of Medinah shares out of the open market at 100-TIMES THE CURRENT MEDINAH SHARE PRICE BACK WHEN THE ADL MINING DISTRICT WAS NOWHERE NEAR GOING INTO EXTREMELY HIGH-GRADE GOLD âMINING AND STOCKPILINGâ MODE OR WHEN THE POG WAS AT ALL-TIME HIGHS. This is not a misprint. Figure that one out.
They were paying 100-times as much per share for a vastly inferior company at the time. In all fairness, Iâd round that 100-times multiple down to 50-times the current Medinah share price in order to factor in Les Priceâs âactivities.â Would you agree that something just doesnât make sense here?
WITH ALL OF THIS GOING ON, WHERE IN THE HECK IS âTHE MARKETâ?
NEWSFLASH: There is no âmarketâ yet. There is just a rag-tag group of us knuckleheads following developments on an Internet investment forum known as THEMININGPLAY. There are about 3,500 other junior miners out there that are also jockeying for the attention of outside investors.
IN ORDER TO KEEP THE EARNINGS PER SHARE FIGURE UP HIGH, A MINER NEEDS TO KEEP ITS # OF SHARES OUTSTANDING LOW. EXACTLY HOW DO YOU DO THIS?
You do this by not having to sell shares in order to raise funds for drilling, while the corporation is young and the share price is low. Auryn was able to come up with a POSITIVE PRODUCTION DECISION without drilling a single hole into the DL2 Vein. The artisanal miners did all of the heavy lifting in this regard. All drill programs are extremely high-risk, not to mention extremely high-cost, but if the shape of your deposit is a giant cube like most deposits are, then you just have to swallow the bullet, sell truckloads of shares, and give up on your dream of ever having a tiny number of shares outstanding and a shot at an extremely high EARNINGS PER SHARE ratio. Letâs add a co-factor #6. In the development of a junior developer/producer, what are the chances for a management member like Maurizio to be willing to advance all of the cash needed to advance the project all of the way into production while not charging a penny in interest and not demanding any repayment until the PROFITS from operations could comfortably allow this. Is this another 1-in-100?
But what if your deposit is a vein deposit shaped like a sheet of plywood that doesnât need a gazillion drill holes to outline the shape of the deposit and the average grades in the deposit. What if this sheet of plywood (a âveinâ) is 1,000 meters long and 700 meters deep and about 1 to 3-meters in width and you already know that. What if previous miners already mined out a 350-meter length of that 1,000-meter length and 100-meters of that 700-meter depth, and already outlined the average grade to anticipate for any subsequent miners of that same vein?
The new miners wouldnât have to sell one share to raise funds to drill one hole if all of that 3-dimensional information was already in hand. With âopen pitâ deposits, the miners need to spend tens of millions of dollars on fully drilling out these cubical-shaped deposits just in order to design the most efficient âopen pitâ design. DO NOT CONFLATE THE DRILLING NEEDS OF A VEIN DEPOSIT OWNER THAT HAS PREVIOUSLY BEEN IN PRODUCTION, WITH THOSE OF AN OPEN PIT OPERATION OWNER. For the owners of an open pit operation, their shot at an extremely high EPS ratio leading to extremely high share prices is already off the table. Itâs just the nature of the beast. The owners of a vein deposit that has had a considerable amount of mining already done doesnât need to spend the time nor the money on expensive drill programs. The key is that Auryn is recommencing production from the very same spot that the artisanal miners left off at. Co-factor #7: What are the statistical chances of being able to recommence extremely high-grade ore production at the very same site that previous miners left off at?
The average grade worldwide on an open pit deposit is 1 gram per ton. It appears that Auryn has a good shot at mining grades somewhere around 40 gpt gold probably in each of about 6 Main Veins i.e. 6 âsheet of plywood- shapedâ veins. The numerator of their EPS ratio (âEARNINGSâ) is going to be high because of the grades, the price of gold and the ability to rapidly ramp up production i.e. âSCALABILITYâ. The denominator of that EPS ratio (âSHARESâ outstanding) is going to be insanely low because of the prior lack of a need to sell shares in order to fund tens of millions of dollars of drilling in order to attract a major miner and to figure out if that giant âCUBEâ is economic or not.
[END OF PART 1 OF 3 PARTS TO ANSWERING âONE OF A KINDâSâ QUESTION]
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Volume picking up today.
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If only Auryn and Medinah shot out like the price of Gold. Great day over 2230!
Hey Jimmy, we sitting on a fortune 
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Bullshit DOGE at .22 just thin air. Here we have something solid in the ground that everybody is going to want in the not too distant future and we canât get a bid. Maurizio better have some good news. The usual boring update just donât cut it anymore.
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That was a mouthful, as well,your fingers must be tired. I appreciate all that you put forward,its a lot for a non-mining mind to soak up,and digest. I just want you to know I appreciate your willingness to share and type so much information. Hopefully soon, I will get to appreciate the monies spent on these stocks,and not have to will them away,for someone else to enjoy its production.Once again, Gracias
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It sure will be nice to hear whatâs going on as of the end of this quarter - the quarter end Sunday, March 31, 2024 (Easter Sunday) - so maybe next week we hear from MC? I hope he reads what Brecciaboy has written above and comments on it - that would be even better. If MC is confident he has the goods, the company is 76% privately owned and there is really NO reason for them to not tell us whatâs happening, what we can expect, and when. The ONLY reason he might want to hold back is if there is some HUGE deal being negotiated (or pending) and the purchaser wants him to keep his trap closed so as not to attract any competing bids. Weâll see. Happy Easter all!
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Mr. B
As I have inferred in previous posts, thereâs no way Maurizio is going to address BBâs analysis. Itâs so far off the mark that they view his promotions as deleterious to the share price. There is a reason why the good Doc cannot reach the company. They will not accept his call. IMHO, I think that MC should speak to him to assist in grounding his predictions but that ship has sailed.
I have mixed feelings on this sorry state of affairs. In some ways you have to feel bad for BB as I believe his enthusiasm is sincere. However, on the flip side, itâs hard to feel bad for anyone who fails to learn from over two decades of being grossly off the mark without changing their stripes AND, more importantly, is directly responsible for massive wealth destruction.
I do hope the company provides enough details to give investors an accurate picture of what is actually going on.
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If BB is so far off the mark, and his comments are deleterious to the share price (as you say), then it seems to me MC number one has a professional responsibility to set things straight. Are we to believe that MC wants the value of HIS OWN investment to go down because of some rogue internet poster out there spouting off untruths and misinterpretations of data? I think MCâs interests are aligned with ours - he is a shareholder who hopes that his share price will go up. It seems to me if what BB is SO damaging (as you say) that MC would nip that in the bud - I know I would - if for anything to preserve his own equity. So, the question is why he has not already done so. The first quarter update would be an excellent opportunity to do so. All MC has to do is read through BBâs latest post to see all the issues - he outlines them very well.
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Prolly because itâs all a fabrication 
I donât believe MC has any negative views toward BB. Besides, that story is so very old. What BB posted was very relevant and on-the-spot. BB carefully calculates possible scenarios from solid data, then shares it with the shareholders who appreciate what he has to say. Any false accusations to discredit BB are just someoneâs blowhard 
nonsense to stroke their own egos.
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I 100% agree with your post. Not sure if MC will address theârogue posterâ as, in many ways, itâs actually unprofessional to acknowledge that type of analysis but I do hope there are enough details for investors to come up with their own conclusions.
And to address BBâs flock of dedicated and financially suffering individuals I would encourage them to ask one simple question: why canât the guy confirm any of his points by speaking to management? Why wouldnât they take a call from the most dedicated shareholder? Why hasnât Kevin/Wizard come to his defense? Hopefully the upcoming updates provide enough context for people to understand the charade.
At the end of the day, Iâm not comfortable owning this stock until some of this legacy nonsense fades away. It would be beneficial for MC, the company, and the share price. All IMHO
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Whoâs paying you?
Paying me for what? The stock is at zero so there isnât any need to create a âbear caseâ to knock the price any lower. I certainly donât have a crystal ball but can you point to any of my analysis that has been flawed? I think the more appropriate question would be if the promoters, who have never been right in ANY of their analysis, are being payed. No, I donât think BB is being paid by AUMC to be a promoter. As I said, they donât even speak to him.
My âactiveâ participation on this board requires a couple minutes every few days. Sadly, my time is not so valuable that staying involved with the hope of eventually building a position is worthy of the effort. This is also why I agreed to sign two NDAs and restrict myself from buying/selling shares. Some find it âweirdâ to speak to a company to assist in their due diligence. Others view this step as critical before committing investment capital.
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John I call BS on your signed NDA. Letâs see a copy of your signature next to MC. MC is not going to share any news with you on whatâs happening. The only news you get is what we get via the quarter updates. Also you keep saying to reach out to management for answers well guess what we have and the questions donât get answered. For example Jimmyp sent a pretty easy question to them and guess what no answer. You are not a savior. We are already fâed being down 99%. All we can do is hold until hopefully something positive comes out of this.
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You think Iâm trying to be your savior? You made the decision to buy and hold, my intention is not to save you from yourself. Iâm simply offering an informed counterpoint to a different point of view which, I hope, fades away before I consider buying shares.
As it relates to the NDA, this seems like an odd thing for me to âBSâ on but your opinion is predicatably consistent with many of your previous âcontributionsâ
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Bald Eagle, youâre saying you have an NDA with the company, and yet you are HERE expressing an opinion on the company and its potential - albeit as a counter to somebody elseâs opinion, but an opinion and the related information nonetheless. In saying that you have an NDA, you are also holding yourself out as having special information, âinsider informationâ they call it. People could make buy/sell decisions based on what you say.
Do you understand the risk here?
And assuming you do indeed have an NDA, I wonder how MC feels about you being here.
Iâm obviously not your attorney, but if I was I think I might be advising you to ⌠find something else to do with your spare time. But thatâs just me.
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Now he says he signed two NDAs with Auryn/MDMN. Think about it; hereâs a guy who historically lied so many times that ppl donât even try to point out the nonsense much anymore; because he continues to spew BS ad-nauseum.
If some guy tells you that ââŚthe more appropriate question would be if the promoters, who have never been right in ANY of their analysis, are being payed,â how can any of the respected contributors to this forum be lying when much of what theyâve said has been true? This same accuser rarely analyzes the fine details of known data to share his expert opinions.
Now he asks if anyone can call out his analysis & say that itâs flawed?
What analysis? Iâve been part of TMP for about 15 yrs. Iâve read many great posts from Hurricane Rick, Mike Gold, easymillion, kevin, cornhuskergold, BB among others. But this dilusional guy canât seem to reveal any specifics when citing misinformation, he just generalizes from the posts he skims.
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AUMC Annual report out on OTC Markets
Yes. Its abundantly clear you are not an attorney nor a qualified investor. I have not provided ANY inside information through any of my posts. Iâm well aware of the parameters.
Lots of people who are understandably raw with emotions. Not a good combo when it comes to trying to objectively assess the merits of an investment.
Guess we have to wait until the next update to expose the false narrative, again, before a new one is spun. Its a fasinating pattern that is allowed to be perpetuated b/c of the desperate nature of the âflockâ who âhas no choice but to holdâ. Thereâs very little room for objective analysis when an investment forum is saturated with a âgood news onlyâ mindset.
Of note from the annual report is the pace of $ owed to the âthird partyâ
As of December 31, 2022, the related party has incurred approximately $3,685,000 in expenses.
**As of March 31, 2023, the related party has incurred approximately $3,990,000 in expenses. **
**As of June 30, 2023, the related party has incurred approximately $4,640,000 in expenses. **
As of September 30, 2023, the related party has incurred approximately $4,938,000 in expenses.
** As of December 31, 2023, the related party has incurred approximately $5,138,000 in expenses.**
It appears as though the spending has slowed down measurably and may indicate that the âstockpiling/productionâ efforts are not actively being pursued. Could be wrong as only $300k was spent in Q1 2023 but that was a period when they were waiting for assays. Not sure anyone can only spend $70k a month when/if they are aggressively mining.
See you post the next company PR
Fact of the matter is that MC and AUMC are bullish, theyâve stated as much in updates and his continued investment of his own personal funds is the definition of putting your money where your mouth is.
MC is never going to tell Baldy that he thinks BBâs predictions are attainable. Thereâs zero benefit in doing that from his perspective. Furthermore the reality is that we only need to achieve a fraction of BBâs speculation for this to be a huge success, which gives traction for the rest of the property to develop and be assigned value by the market.
Baldy continuing to sniff around the investment and waiting for an entry point tells you all need to know.
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