We back to trading or was it really at zero all this time??
2 Likes
Yes you can trade, MDMN
Medinah Minerals, Inc.
Common Stock
Expert Market
if you want to give up your shares for close to $0
1 Like
The shorts can now coverâŚâŚ
I guess after this many years has passed things havenât really changed. Curious to hear your thoughts Rod!
Click on my eye on the previous post by me. Youâll get all my previous posts. If youâd like me to comment on anything else, Iâd be glad to.
Rod
1 Like
Hey Rod⌠thanks for keeping an eye out for us!
2 Likes
Same wishes to all my US friends. (ââââââââââedit)
Hope the next 4 years are positive for us all. Cheers, Rod
1 Like
Another 714.3 thousand shares traded at $0.000001 = $0.7143
How much did we pay for 3/4 of a Million shares ? Probably more than 71.5 cents.
MDMN has been left in the desert, just gathering dust. Shameful. AUMN should have payed the fees for MDMN to let it trade justly.
All the BS about AUMN trading at much higher prices so that the conversion rate would better us is CRAP !
Currently stuck with âworthlessâ shares.
Conversion should have been done a LONG time ago, then at least weâd have tradable shares in AUMN, instead of waiting years to see our investments deteriorate to near ZERO.
Feel free to comment.
Summary
This text will be hidden
5 Likes
What else can I comment? Pretty much covers everything.
Again, holding for a miracle to occur as we all got screwed.
TDK
3 Likes
Maybe this will help?
3 Likes
Years of BS.
2 Likes
What happens to AUMC shares possessed by mdmn if we donât get them?
Agreed itâs total BS we donât have them when it was so easy for CDCH shares to convert
How can MC operate with so many years of supposed debt?
How much money is being generated and where is it going from limited production?
Lots of words from AUMC but no follow through. They have actually done nothing they said they were going to do to date.
Appearing more and more this is a typical penny stock that lives on hope and BS from multiple characters.
2 Likes
Obscure source (to me), interesting articleâŚ
â madmen
2 Likes
Nobody can deny the lack of full transparency they promised. But, I have to disagree with you about how much they have done, and so do the facts. Everything Auryn has accomplished thus far were once only promises. So that means they did follow thru significantly. Entirely or exactly, no.
Are there many bs penny stocks that have come as far as Auryn has to date? None. Not if they are bs losers.
As you know, MC invested millions of his own money. Once that ran dry and a floatation plant was still needed, MC acquired a loan of sorts for up to $4M. I believe the terms of that loan have yet to be fully disclosed, though.
The floatation plant IS being built now. And much of the other required construction has already been completed. I wouldnât say thatâs ânothing.â
6 Likes
Your comment doesnât distinguish well between AUMC shares and MDMN shares. I wouldnât say that AUMC shares are âworthlessâ in any perceived scenario. MDMN shares are a separate can of worms, though. If you honestly donât think Auryn will convert the MDMN shares in the near future (or after production begins), please explain why?
I agree that the conversion should have taken place by now. In addition to some AUMC shares, Iâm sitting on a few million shares of MDMN like so many ppl here - but I donât consider them worthless. MDMN still holds the AUMC shares. They could not have legally taken them away leaving us all with nothing, right? As I see it, this whole game that MDMN shares are being sold in that Special Market to the shorters is definitely upsetting. So these crooks get to cover all that naked short selling they did while we were accumulating. 
No accusations against you personally, Rod, but when (multiple) naysayers pop up screaming the sky is falling, I gotta wonder why. From my perspective alone, Itâs like suddenly a handful of shareholders start grumbling when things arenât going fast enough - maybe even without realizing it. Progressively, the positive facts & data just fly out the window - Poof! Then instead they seem to zero in only on the negative. All together, they pick up after each other in a bashing fest - where oneâs fears seem worse than the prior shareholdersâ sentiments.
2 Likes
Jaded;
If one or some of our shareholders of MDMN need to sell some or all of their shares for personal reasons, then they are currently worthless, is what I meant.
Your point of âAuryn will convert the MDMN shares in the near future (or after production begins),â âŚ
Near future - if they havenât yet, for what possible reason why would they in the near future ? drilling results - NO,
Processing ore at ENAMI - NO.
What is to be expected is ⌠after production starts next year (hopefully) that the Profit ( not the gross receipts ) has to exceed $20 Million + the amount spent by the AUMC benefactor ( $5 Million ??? ). $25 Million is a LOT of net profit for a 100 ton per day operation. The concentrate still has to be sold to someone, who has to do the work to separate the gold, copper, silver, etc. That involves transportation, refining costs, etc.
Iâd be surprised if the $25 Million was paid off within 4 years !
Positive data is great, but you have to be realistic about the future outcome. AUMC could give us at least a guesstimate on future production and costs, as Many mining companies do. Low to High in both.
Almost 4 Years Ago :
" January 2021 Shareholder Notification
Medinah Minerals, Inc.is pleased to share the most recent news from Auryn Mining Corporation with our shareholders.
Medinah Minerals, Inc. owns 16,104,200 common shares of AUMC received from AURYN Mining Chile, SpA. These shares are currently restricted. The Company intends on removing the restriction, selling a small portion of its shares to satisfy corporate liabilities and legal expenses, and allocating the remainder of its AUMC shares to its shareholders, pro rata, in the form of a dividend payment. This is subject to a final recommendation by our securities attorney and approval by regulatory authorities.
The timeframe for these actions is to be determined and is based on the Companyâs desire to maximize the number of AUMC shares it is able to retain and allocate to its shareholders.
Submitted on behalf of the Board of Directors"
3 Likes
Thank you, Rod. Would you mind elucidating a few more details? Iâm guessing the $20M figure comes from some compound mathmatical equation of the data. Is there a brief explanation regarding that figure? Iâve seen these posts from you before, but if I donât see it as something to worry about at the time, I just say âyeah, okâ and never follow. Shame on me. But a variety of calculations post here regularly, some are contradicting.
I thought it was only up to $4M? But you say the concentrate still needs to be sold to someone âwho has to do the work to separate the gold, copper, silver etc.â Obviously Iâm wrong, but I thought all of that could be done at the floatation plant. I remember reading that the floatation plant basically does what ENAMI does, only more efficiently. Going further, wouldnât there be buyers at the ready since these minerals are getting harder to find?
Itâs not unrealistic to believe both AUMC and MDMN will be profitable for us. Itâs just taking longer than we hoped. But Iâve been patient. At least Iâm lucky enough to have shares of AUMC too. But I still donât believe itâs gonna take up to 4 more years, jmho. If other juniors share those estimates and Auryn doesnât, then MC needs to bring out more of that transparency he promised.
Damn, thankfully this isnât what they intend now. But will It turn out to be a lot better? I need to lookup what their last word was about the AUMC shares in Medinahâs holdings.
Equity Financing: Additionally, up to $3 million will be provided through an equity investment arrangement, which includes a preferred dividend mechanism with dividends capped at $20 million over five years.
The flotation plant will produce a concentrate of gold and/or silver and/or copper, etc. If only gold and silver are processed, it produces dore. If they can use the flotation plant to further produce a copper concentrate, then the concentrate will be mostly copper. Either way the concentrates are not pure & require the buyer to do the final separation into the pure metal, hence the proceeds received are not the current spot price for a pure metal.
Flotation is a mineral processing method that can concentrate and separate valuable minerals from ore. Itâs an effective way to separate gold and copper minerals in different ores.
Here are some things to consider when using flotation to concentrate gold, silver, and copper ore:
-
Reagents: Chemical reagents like cyanide and lime are used in the conventional flotation process. Collectors like buxone and chalcopyrite are used for gold minerals, while sulfurizing agents are used for copper minerals.
-
Frothers: Frothers like detergent and glycerin are added to the flotation cell to create and stabilize air bubbles. The strength and stability of the froth is important for floating free gold.
-
pH: The pH value in the flotation tank can be adjusted to optimize the flotation effect. Different minerals respond differently to pH.
-
Ore characteristics: The success of flotation depends on the characteristics of the ore.
-
Tank design: The design of the tank is important for the success of flotation.
2 Likes
My understandingâs is that mdmn is in possession of the AUMC shares?
What exactly is Mdmn right now? Where are those shares if Mdmn isnât current?
Who makes the decision to convert?
3 Likes