Research who Ameco is. Read the last two releases from AUMC prior to this. Nothing changes on the timeline.
I posted exactly who Ameco is. I posted the timeline a few weeks ago.
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Thatās exactly a concern and why it would be interesting to see what the contract actually contains. What does Auryn get for itās contract? What does Ameco actually do for the project? Hopefully, they may take over the whole project and get the whole project time line in place and work to get all necessary permits, workers, equipment, etc. Their own description of services indicates thats what they do. Will they do that on this project?
If itās just shuffling money around and relabeling it, then we are back to the āwe will mine at some point in the futureā.
Based upon your mining experience, do you know any other info on Ameco? Have any of you other projects/investments used them before?
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Jak here. Read this.
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Please point me to a timeline. I didnāt see one. I have only seen a one line statement that they plan to have the concentration plant done in 2025. What other time line have they given to us? What other details and dates as to how it will happen?
What was the date they were to order the plant? What about the date for the permit to build the plant? Have they even ordered the plant yet? Are they authorized to build it? Just saying you are going to do something isnāt a time line on the project.
I have a company that wins the lottery to pay its investors. It plans to win the lottery in June 2025. Everyone please invest in my company. When can I expect your investment?
Would anyone invest in my company? Isnāt that what Auryn has given us? I plan to have a plant built in 2025? I plan to mine at some point in the future? Donāt you think itās appropriate to give us the time line and details on the plan? Donāt you think its important to give us updates as to whether you are meeting your targets in your time line?
Right now we have a one sentence promise, which has never been followed up upon, to go with the score of other one sentence promises given to use over the years, which also were never followed up upon, nor fulfilled.
Iām glad the financing went to a more simpler model, but as to the rest of the project, IMO, nothing has changed.
Until they provide an actual, detailed time line of the project (or how about actual results), nothing has changed.
No worries, Jak. Nothing has changed. Schedule is still the same. Only thing we have is more clarity on who is behind SAC/Ameco and the terms. It may not make you happy. It makes me very happy.
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The property is a lot larger than just Fortuna.
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Wizard, if you are very happy, Iām very happy. Happy Auryn/Medinah New Year to allā¦
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Understood but, IMO, its going to take them until mid 2026 to get this first plant commissioned. Not sure how Ameco is going to be able to provide $20M in services (they focus on building plants) within 5 years. They will need to drill out another resource before considering additional mining/processing capabilities. That will take some time.
I donāt know Ameco, its run by a no name guy with minimal experience but I know Stratcon (as does Maurizio). They are one of the bigger boys down in South America for mining/operations/construction services. They acquired Ameco in March of 2023. This is clearly where the dots start to become connected. Maurizio has other assets engaged with Stratcon. Maybe there is something larger looming on the horizon (what else would explain why AUMC traded at over an $80M market cap briefly??). Dunno, which is why Iām allowed to speculate on this board. Unfortunately, 90%+ of investor expsosure is in a stock that is trading at .00001. I went to half a dozen brokers to buy MDMN at .0001. Thereās simply no way to find shares.
I wonāt argue that the optics of a $20M consulting agreement look A LOT better than a confusing $20M dividend but, b/c the quantum and timeline are identical (they could have at least tweaked it a bit), its pretty clear that this is the same financial incentive (pound of flesh) as what was previously arranged.
The upside, Stratcon know what they are doing. Maurzio and his team would have struggled to get this done on their own. Stratcon is also politically connected and may be able to expedite some of the permitting. The time line was pushed a couple quarters in the last update, Iād expect the ultimate timing to be pushed into 2026 at the end of the day. Nothing is easy these days,
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Come on John! Run with what they are stating in the updates instead of putting this garbage out!
Auryn management has laid out a great deal of specifics since the September Update. All communications since then have provided answers to some of the questions recently posted. Aside from very specific dates on the calendar, Aurynās plans are basically scheduled.
The financing terms with Ameco will be presented soon enough. No worries about managementās decisions going forward, considering all the outside help theyāve had.
Help from Prof. Dr. Helmut Mischo & his team covering data from the entire Altos de Lipangue mining district, and also the University of San Sebastianās plans for the filtering & utilization of the Antonio tunnelās water, to mention a few.
Auryn has since repaired & built up the access roads, constructed a new mining camp (complete with solar panels 
), and drained the Antonino Tunnel to redesign extraction operations.
Some of the Other Developments:
Detailed topographic survey for the planned location of the FLOTATION PLANT has been completed.
Hydrogeological studies for accessing twice the amount of water needed, and a water recirculation system with an estimated recovery efficiency of 80%.
An on-site geochemical lab for same day analyses thatās likely completed by now.
We could possibly have an unexpected delay due to some unforseen problem, sure. Thatās probably baked-in the estimate given. But I donāt know of any valid reason to expect any delays past the 3rd Qtr 2025. They are getting the job done as quickly as possible, I have no doubt.
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Uh, you may wish to compare Baldyās predictions which have come true versus the predictions from Auryn which have come true. Oof. IMO
Where does it state that this will be pushed in 2026?? Run with what the company has stated.
Based on our progress, we anticipate that the flotation plant will be operational with all necessary permits by the third quarter of 2025.
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Do you mean the May of 2024 update when they stated they would be on production by the first quarter of 2025 or the October 2024 update when they stated they would be in production by the third quarter of 2025? Anyone ārunning with what they are stating in updatesā has the memory of a goldfish. The permitting process alone can create a year of additional delays (for the best run companies).
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