Excited to see some positive movement!
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TWITTER(X): Camp pretty much built, and theyâre starting on the mills in January.
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My former CDCH shares - turned AUMC Shares - is showing a profit!
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Wish I had the AUMC conversion shares they havenât given me.
well based on a 200:1 conversion our MDMN has gone from $0.0007 to $0.005. That is a 600%+ increase in value. I just need 3 more cents per share to b/e. Ha
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I apologize in advance but I would appreciate some guidance from people in the know. I gave up on MDMN about 8 years ago, I had about 6 M shares. I decided to take my long term capital losses, I was under the impression that they were going to be converted to AUMC, I went to my brokerage and tried to tell them my MDMN shares should have been converted and they said they had no record of that. Went to another broker I use and they executed my MDMN at a loss and some how did end up with some AUMC which they sold. So I am confused! Can anyone help me clarify what I should now own with my remaining 700,000 shares of MDMN?
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The conversion has not taken place yet and there is currently no information or plan as to when the 200:1 conversion will take place. Your 700,000 mdmn will convert to about 3500 AUMC. The formula is not exact and will depend on any existing debt or expenses at the time it happens. Some here think it could take place next year but others think it could still be more than a year off.
If you owned any CDCH that company became AUMC so that could account for having some AUMC shares while we still wait for the MDMN to convert.
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Weighing in on some of the questions surrounding MDMN and AUMC. FOMO is not an impetus for buying into AUMC for me. Personally, Iâm already overweight in AUMC due primarily to my CDCH holdings and see AURYN (owned as AUMC and MDMN shares) as a growth story stock with great potential in a few more years. Strategically, AUMC on the open market has a very tight share structure. A tight share structure greatly favors PPS increasing as AURYN demonstrates an ability to zero in on production efficiency and grade that leads to an ever-increasing cash flow. This process must first play out. Letting PPS grow into the several dollar range before considering distribution of AUMC shares to MDMN shareholders is a no brainer. Currently, AUMC has no appreciable volume as a trading stock and will gain little or no attention until itâs PPS begins to be noticed as it grows into the several dollar range. Those MDMN shares are likely to finally be released in a year or two as an open market AUMC share with a very visible value. MDMN will then be able to settle itâs debts with a minimal impact on decreasing the shares the company is holding. The AUMC shares (currently owned as MDMN shares) will be released on the open market with an immediate increase in selling and buying; trading volume and an elevated PPS will make this a viable trading stock. AURYN will have an immediate rerate as a small producing company with much greater potential than it has today.
As a note to present shareholders that have cash to be deployed in the mining sector, it makes sense to me personally, to be using that available cash to invest in the many mining companies already growing production to profitable levels. The mining sector overall is at historic low valuations that may well increase in the next year as a secular PM Bull market continues to fully develop.
Seasonâs Greetings, and Happy Festivus for the rest of us. Wishes for 2025 to be a year full of peace, joy, and great prosperity for all of us.
EZ
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News out.
https://www.otcmarkets.com/stock/AUMC/news/
Press Release - December 30, 2024 | AURYN Mining Corporation
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Change in funding structure from equity-based to debt-based - and then a service agreement with a separate entity. Probably nothing.
LOL - Iâm assuming âprobably nothingâ is sarcasm. 
If itâs not, you may want to read it more closely. Also, this shows it was no âinsider dealâ like Jimmy was insinuating.
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Yes, sarcasm of course - sorry for the confusion!
I wonder if the company dealing with Auryn is affiliated with this one?
Looks like an entirely separate company.
Breaking it down: âThe entire funding is now structured as a $4 million loan at an
interest rate of the Secured Overnight Financing Rate (âSOFRâ) plus 400 basis points.â
With the current SOFR rate at 5.03327, and the 400 basis points = 4%, then the rate is just over 9%?
IF my math is correct, that amounts to $166,200 per million, with a max of $664,800 finance charges for the entire $4M. And paying out share dividends for the loan is no longer in the equation, unless itâs with Ameco. Thatâs my shot at it, but any corrections are welcome.
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Directly from their website as it relates to services.
Directly from their website as it relates to their history.
Other than the above, I know nothing else about them. Does any of the more experience mining investors here have any experience or other knowledge about them?
As it relates to the change in the financing, a straight debt financing has its benefits as you have a clear target to hit. Even though I think the straight financing deal is a good thing, even though we donât have the exact details on how itâs structured (especially repayments), Iâm more curious about the agreement with Ameco Chile SpA. I am more curious as it goes to the underlying goal for Auryn, actually mining. Auryn is not in the job of collecting financing agreements, itâs supposed to be a miner.
The press release states its a comprehensive agreement for services up to $20M. A very broad, and in my opinion, generic statement. What does this mean? Manpower? machines? I know the listed a few areas which are included within the agreement, but, again, in my opinion, they are very broad. In fact, using the language used, you could interpret it to mean Ameco Chile SpA would run the entire project, from beginning to end, w Auryn just sitting on the sidelines. Would like to know with a little more clarity what this agreement entails and specifically what it means to Aurynâs ability to actually mine.
IMO, other than the financing change, which shifts the $20M equity into a $20M payment to a 3rd party vendor, Auryn hasnât give us anything related to the end result. IMO, they have just said âwe intend to mine at some point in the futureâ. Well, thatâs what theyâve been telling us for years now, and no real mining has occurred.
What I would like to know goes to what this change in financing and hiring of a 3rd party vendor means to the mining timeline. When do you expect them to being work? What will they specifically do for Auryn and when? When do you expect permits to issue? When will environmental compliance occur? when will the concentration plant get built? What are the specific goals to hit each quarter/year? And, most importantly, when do you expect gold to begin coming out of the ground and getting sold? Any project of this size should have a specific timeline. Currently, none of use know this timeline. Currently, IMO, this press release does nothing to change the generic âwe intend to mine at some point in the futureâ statements we have received over the last few years.
IMO, nothing has changed on the end result, mining, until we have a clear picture of the timeline, with specific dates and targets for each area of the project.
Somewhat âironicâ that âup to $20M in dividends over the next five yearsâ morphs into âup to $20M over five years paid to a mining services consultant.â Coincidence? The interest on the debt is low enough to assume that the real âjuiceâ still sits with the $20M. Looks like they just changed the descriptor on how this money will be paid to the financier. Itâs a pretty big services contract (even over five years) given the extremely small scale of this FF plant/mining operation. This is not unusual for South American mining: $5,000 wrenches etcs.
What other time lines can you find? Just saying. And, do you expect that to happen when they just announced a restructuring of the financing? Do they even have the money yet?
Can you give me a date as to when they expect the mining permit? How about the environment assessment? How about the road improvements? What about when mining will actually commence? Have they even ordered the materials/parts to build the concentration plant? When will the order occur? When will they clear a space to build it? When will they secure a permit to clear the space to build it?
They have not given us a project time line as to when important events will occur, nor have they updated any random dates they have given us in the past. I am presuming the Ameco contract will address these issues and Ameco will work to get a solid time line together for the project, but thatâs just speculation. Currently, they just randomly throw out some date with a generic statement (like you cited), donât give us any details on how they will accomplish the generic statement, donât give us any updates on whether they will meet the date or not, then never address it again in any future updates.
Hopefully, Ameco will provide the time line, with hard dates for the different aspects of the project. Then, hopefully, they can give us updates on those project parts. Until then, I stick with my statement, IMO, that Auryn has said âwe will mine at some point in the futureâ without anything concrete support or guidance.