What price does gold have to hit before our shares would be worth actually being converted is a good question……
If AUMC is still interested in getting Majors on board for a JV or buyout, then I think it was a strong powerplay for them to bring in Stratcon. If Majors were kind of kicking the tires and just biding time thinking Auryn would eventually need them to get off the mat, then the script has flipped. That is the positive side of bootstrapping. We all know the cons, unfortunately (read: watching paint dry).
Now with gold shooting through the roof and so much more untapped potential on this massive property, the Major’s sense of urgency has to have risen considerably. Couple that with Auryn showing they are just fine now getting this off the ground without a Major, that puts them in a much higher place of leverage.
I could be way off, but we do know that Majors and Mid-Tiers have taken out a flyer. We know of 2 for certain, Hochschild and Freeport McMoran.
The other point is for decades (believe it, some of us have been here that long) we continually asked the BOD, that if they needed money to do a private placement via shareholders.CDCH & MDMN could have raised the money to do some drilling & pay expenses, instead of losing the property. Kind of strange that LES didn’t want to surrept our money, perhaps he was worried about blatantly obtaining illegal funds.
The point is CDCH, MDMN, AURYN have never supported their investors by allowing them to do a private placement. All funds needed we supposedly ‘lent’ to them by the board, of course in exchange for very discounted shares!
Hence , don’t expect AURYN to do anything to support their investors.
They are in it for their OWN GAIN. We are ants under the foot of a troll.
Or another metaphor, ‘carrot in front of the donkey’, keep hoping you’ll get that carrot. Good Luck !
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AUMC shares replacing my CDCH worked out well for me. Just sayin.
It’s pretty obvious that Auryn ain’t putting out any carrots. Instead, they’re about to present plenty of karats.
Interesting metaphors … but we can’t expect much from an OTC stock. By now it’s clear that we haven’t been ants under the foot of a troll for a few years now. Here’s the way I see it: I’d say we’re more like bears induced to sleep in a cave until production begins. The outlook for AUMC’s Winter performance is about to break into Spring/Summer. It’s a sure thing, bears can finally come out of hibernation.
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Happy to hear about your Cdch shares…… too bad for us who got the bad end owning Mdmn!
So true, been here since the last share swap of crap.
I remember back when there was rift with shareholders who owned CDCH shares and those owning MDMN shares. Which was better company and better for the long run.
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Yes, I bought up as much CDCH as I could (years ago) when someone who was often criticized on this board recommended them. But I’m still stuck with a few million shares of MDMN right now. I only mentioned the CDCH/AUMC transfer in response to a previous comment stating CDCH never supported their investors.
Going forward, I was amused by the constant flow of positive vs negative discussions. When AUMC was still below 20c, yet significanty higher than MDMN; a few “in-the-know” investing naysayers reasoned that buying more MDMN shares instead of AUMC is a better deal. They definitively announced it. Several ppl took that advice.
But with variable factors to be considered above and over simple mathematics, I reasoned there was no way anyone could promote that advice with such certainty at the time — Especially not after bashing on MDMN as the norm.
Thankfully, I saw that as an awkward calculation, so I kept buying as much AUMC as I could. But I always had a lot more MDMN just waiting in limbo the same as most of us here.
I’m confident we will eventually see the MDMN transfer to AUMC shares. What those calculations will be is the question.
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Wonder what that piles worth now? The change in gold price from the past 5 minutes is probably enough to cover the cost for MDMN to get up in trading again.
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April 2025 – Shareholder Update
Apr 4, 2025
AURYN Mining Corporation Shareholder Update
AURYN Mining Corporation (OTC: AUMC) is committed to keeping our shareholders informed with the most current updates on our progress and strategic initiatives. As we enter the second quarter of 2025, we share the following updates and forward-looking approach to our mining and exploration activities.
ACCOMPLISHMENTS
Operations and Plan Development
During this quarter, we significantly advanced activities at our Fortuna site:
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Antonino Tunnel Operations: We retained a specialized contractor who is managing Antonino Tunnel operations as part of the La Fortuna Sub-Level Stoping Project. Current efforts include enhancing tunnel access, improving grade, and ensuring continuous, efficient operations with minimal disruptions.
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We are advancing two additional exploitation projects targeting the Merlin IV vein, both in its northern and southern extensions. Each project targets an extraction rate of 1,000 tons of ore monthly, bringing our total authorized production capacity to 3,000 tons per month by the third quarter of 2025.
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Site preparation, including clearing and leveling for our Mineral Flotation Plant and supporting infrastructure, is progressing smoothly.
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Construction of the Flotation Plant and associated facilities begins this month, April 2025. We anticipate initial plant operations in early Q3 2025, allowing us to conduct thorough testing and optimization of the mill using ore extracted from our ongoing operations. This period of operational testing and fine-tuning will generate measurable economic value and ensure the plant is fully optimized ahead of obtaining complete operational permitting, expected later in the third quarter of 2025.
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Major repair and maintenance activities on the mining district access road have commenced, providing reliable, safe access essential for our project’s successful execution.
Leadership Updates
In March 2025, Robert Mayne-Nicholls joined Auryn Mining Chile as General Manager. Mr. Mayne-Nicholls brings extensive experience from senior roles at leading miningcompanies, including Empresa Nacional de Minería (ENAMI), Antofagasta PLC, Barrick Gold Corporation, SQM, Compañía Minera Doña Inés de Collahuasi SCM, and CODELCO.
Robert Mayne-Nicholls stated, “I am extremely excited to join AURYN Mining at this pivotal time. The potential of the Fortuna and Lipangue projects is impressive, and I look forward to contributing to their successful advancement.”
Maurizio Cordova, Chairman & CEO, commented, “Robert’s appointment marks a significant milestone for Auryn. His leadership and extensive industry experience will be crucial as we expand our operations and move toward our production objectives.”
Additionally, Tomás Valega has assumed the role of Project Manager, further strengthening our strategic execution and comprehensive project planning.
STAY CONNECTED
For further details and to stay up-to-date with AURYN Mining Corporation’s activities, please visit our website and subscribe to email notifications. We appreciate your continued support and confidence in AURYN Mining Corporation.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
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WRONG. Confirmed in today update
So are we looking at end of the 3rd quarter beginning of 4th quarter before we start any production?
Yes. You can count on Baldys predictions as they are always grounded in reason and histotical context. Look for 2026 as he originally predicted. He will be proven right.
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This was an excellent update. Pretty incredible that after waiting for decades, ore processing in the new flotation plant should finally start in July.
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Mike, we still have the Champagne and Goat Cheese ready to go whilst running naked up here in Canada the Great North!
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elbows up!
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Agreed. Execution. Operations. The big thing missing in 99.99% of all small junior minors. As resources have become harder and harder to mine, small companies are more challenged than ever to actually put a mine into operation and the more leverage large sophisticated companies have over juniors in the early discovery stages and basically force them to bleed out via share issuance through the process of JVs to navigate an ever harder process of permitting, reserve and resource development, pre-feasibility studies, feasibility studies etc. This is my conclusion after 25 years in MDMN/CDCH/AUMC - avoid juniors.
But if Auryn can actually execute on these concrete and clear short term steps I think we may have a fitting “end of the beginning” announcement, which has been 20 years too long in the making.
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IMO, it’s a start, but those who have already banked their profits need to take a deep breath. Nothing in the update stated AUMC has sold process ore and banked the cash.
Let’s see what they actually said.
- They hired a contractor for Antion tunnel. Just hired. This is a fact; however, no mention of the scope of work performed as of the date of the update, no timeline of work to be performed in the future. A general statement of the type of work to be performed.
- They are continuing work on the Merlin IV vein. This is a fact; however, no mention of work actually performed to date, no timeline for work to be performed in the future. They make a forward looking statement that they “target” (synonymous with hope) for a 1,000 ton extraction rate which would raise authorized capacity to 3,000 tons. This is a forward looking statement, not a fact, but a desire they hope to accomplish in the future.
- They are continuing preparation of the location for the flotation plant. This is a fact; however, no mention of work performed to date, no mention of work to be performed in the future. Then then make forward looking statements regarding “anticipated” plant operations in 3rd qtr 2025 which include testing and optimization. This is a forward looking statement, not a fact, but a desire. They then make a forward looking statement about “expecting” full permits in late 3rd qtr 2025. Again, not a fact, but a desire.
- They make a forward looking statement that they will “begin” the flotation plant construction this month. This is not a fact, but a desire, albeit a positive statement due to the mention of this month April 2025.
- They have started repairing the road. This is a fact; however, no mention of work performed to date, no mention of timeline of work to be performed in the future.
- They have hired additional managerial help.
Overall, IMO, a positive update; however, they still have a lot of work to do. In short, they have stated we have done a bunch or work, we have additional work to perform, and we hope to hit certain construction and production targets in the future. That’s it, that’s all they said.
They have committed themselves to certain factual statements regarding work occurring upon the mountain, and they now will need to follow up on that work. If the next update does not contain updates on actual progress at Antonio, Merlin IV, site prep, and flotation plant building, then IMO they will have continued play fast and loose with the truth. If they do provide specific updates on these items, then they will be moving forward and rebuilding trust lost through their past statements and behavior.
Regarding the forward looking statements, they have committed themselves to specific timelines, a good thing if they can meet these timelines; however, they have given us these types of specific timelines before, not followed through, and never provided an explanation as to why they didn’t follow through. IMO, similar to the fact statements, they will need to perform the work promised and, more importantly, keep everyone informed of their progress. If they can’t meet the targets they stated, they need to specifically tell us they missed the target, why the missed the target, and where they have set the new target. If we don’t hear about these forward looking statements in the next update, then, IMO, fast and loose. If we do, then rebuilding of trust.
IMO, no excitement should exist from this update. IMO, this update does NOT add 1/1000th of a cent to any valuation of MDMN/AUMC. Nothing in this update states AUMC earn any gross revenue, merely that it continued to spend to perform work, to further the mine project. IMO, this update merely states, with a minimum level of detail, what any normal mining company should state. Would I like more detail, yes; however, I will accept these baby steps.
I guess I’m just naive - but I take their words as aspirational. I also happen to believe what they are saying - that they will start testing for production in early Q3 and then by late Q3 are producing.
The thing I like the most is they’re doing it on their own.
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“Construction of the Flotation Plant and associated facilities begins this month, April 2025. We anticipate initial plant operations in early Q3 2025, allowing us to conduct thorough testing and optimization of the mill using ore extracted from our ongoing operations. This period of operational testing and fine-tuning will generate measurable economic value and ensure the plant is fully optimized ahead of obtaining complete operational permitting, expected later in the third quarter of 2025.”
What’s so hard to understand about this? It SAYS they’re aiming for Q3! The word “anticipate” has a meaning - look it up if you don’t get it. There is NO lying or fraud here! And they actually hired an operations guy! I actually think there are some people around here vested in the failure of this company, and at very least jaded by what they perceive to be their own, bad decisions in life. Grow up.
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