Auryn/Medinah 2025 2nd half General Discussion

591

Bubba, sadly enough history supports Baldys commentary. To be fair he has not attacked Kevin or MC. His antics toward BB is a different story.

My advice is to pray we get an equitable distribution from this receivership arrangement. We are not out of the woods. After that, fingers crossed, we can put that chapter behind us and focus strictly on the merits of the AUMC investment which should be very exciting.

Nearly all of us here want the same outcome as you but some of us are not just simply blind optimists. Getting past the share distribution in tact will be a MAJOR WIN.

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592

You come across as a very angry elf. Lots of emotions that are clearly coming from a general insecurity of what you own. If you were confident in the “BB investment thesis” you wouldn’t be constantly lobbing personal attacks against someone like myself just b/c I’m not an investor and present a different point of view.

I never accused Wiz of anything. I simply stated that he was compensated, adjusted the quantum down from 1 million shares (the actual number is 280k). I never claimed he didn’t earn those shares either. Simply that he and Maurizio will likely be the only ones to make money as they own a large amount of shares post the massive dilution. I also don’t attack Maurizio. I enjoy speaking with him. I’ve simply pointed out that his actions were and are not charitable (laughable). He’d be the first to admit that the past decade has been extremely challenging. Constantly pretending that everything that had occurred is following some sort of grand plan is pure insanity.

To be candid I even empathize with his position. The poor guy has to make public statements to clarify/counter some of the craziness on this board. He was forced to publicly guide to 10gpt b/c of the nonsense spewed around here.

Folks who never seem to get it no matter how many eggs land on their face, MC didn’t/doesn’t want unachievable bars to be set (60gpt++!!). The same folks who claimed delisting MDMN was a clever ploy or that debt financing vs an equity raise was the preferred choice, or that not going with Enami was a $5000/t economic benefit, etc, etc. This is mining, sheet happens and the constant defense of any twist and turn wreaks of investment knowledge in this sector.

Bubba, your rushing to the defense of those who are not even being attacked along with your vitriol for anyone who does not share your rosy outlook on this investment speaks volumes. If nobody with a brain is reading my posts you’d be wise to follow their lead.

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593

You are wrong IMO, Once MDMN pays off debts there will either be less MDMN shares or less AUMC shares. That is a fact ! Look up the debts since 2023 & before.

594

Medinah Minerals
Unaudited Balance Sheet
As of:
ASSETS March 31, 2022
CURRENT ASSETS
Cash in Bank $ 1,415
Prepaid Expenses -
TOTAL CURRENT ASSETS 1,415
OTHER ASSETS - INVESTMENTS
AURYN Mining 17,088,960
Other Investments 448,315
TOTAL OTHER ASSETS - INVESTMENTS 17,537,275
TOTAL ASSETS $ 17,538,690
LIABILITIES AND CAPITAL
CURRENT LIABILITIES
Accounts Payable $ 206,939
Payroll Taxes Payable -
TOTAL CURRENT LIABILITIES 206,939
LONG-TERM DEBT
Note Payable - AURYN Holding -
Loans from Stockholders 172,013
TOTAL LONG-TERM DEBT 172,013
TOTAL LIABILITIES 378,952
CAPITAL
Common Stock - Par Value $.001
Authorized Shares - 3,000,000,000 2 ,882,282
Issued - 2,882,282,073 at 3/31/2022
Preferred Stock - Par Value $.001 -
Authorized Shares - 100,000,000
Additional Paid-In-Capital 49,777,627
Retained Deficit (35,500,171)
TOTAL CAPITAL 17,159,738
TOTAL LIABILITIES AND CAPITAL $ 17,538,690
Medinah Minerals
Unaudited Statement of Income and Expense
For the Quarter
Ending:
March 31, 2022
Sales $ -
Operating Expenses
Director Fees -
Travel -
Legal and Professional 3,500
Trust and Transfer -
Management Fees -
Salaries and Wages -
Accounting -
Rents -
Office -
News Services -
Repairs and Maintenance -
Telephone -
Computer Repairs -
Taxes and Licenses -
Postage -
Automobile -
General Meeting -
Bank Charges 50
Total Operating Expenses 3,550
Net (Loss) from Operations ( 3,550)
Legal Settlement -
Gain (Loss) on Investments 5,554,760
Net Income 5,551,210
Beginning Retained (Deficit) (41,051,381)
Prior Period Adjustments:
Change of Accounting Principal -
Prior Period Adjustments - Other -
Adjusted Beginning Retained (Deficit) -
Ending Retained (Deficit) $ (35,500,171)

595

I did miss this tidbit on AURYN’s Financials ..
Shares Outstanding on
03/28/2024
Ending Balance:
Common: 70,000,000
Preferred: 5,000

In early 2017, Auryn announced a cash call, which based upon the Company’s 5% holdings, required a further investment of $300,000 in order to maintain the Company’s 5% holdings in Auryn. At the Company’s Annual Shareholder Meeting, held on June 5, 2017, the Company approved an offer from Auryn Holding Corp (“Auryn Holding”), a separate but related entity to Auryn, to loan funds to the Company for purposes of satisfying Auryn’s cash call, in the amount of $300,000, pursuant to a no-interest loan, and in consideration of such loan, 500,000 shares of preferred voting stock of Cerro, which carry with them 1000-for-1 voting rights, would be delivered to Auryn Holding,

596

I have a theory which is only my opinion and not backed with any inside knowledge. To state the obvious ~$16M in share value, net of expenses, divided by 2.8 billion shares is not an ideal outcome. The basic math is equivalent to $0.006 of value per share of MDMN. However, there are some oddities to consider. The Wizard is not a licenced reciever. Receivers are typically court appointed and seasoned professionals (at the adminstrative/receivership process). Additionally, receivers are usually tasked at recovering the maximum value for creditors post the sale/monetization/liquidation of a company’s assets. If Company ABC had $10M owed to creditors and $5M in assets the creditors would receive 50 cents on the dollar and the equity would be wiped out.

In the case of MDMN there are some liabilities but not your usual creditors. The receivers job will be to recover the maximum value for shareholders. A complete 180 vs. common procedure. Given the loooong and checkered past of MDMN, including billions of fraudelently issued shares under Les’ watch, there may end up being significantly less than 2.8 billion “shares of record.” It’s also safe to assume that a majority of historical shareholders are either no longer living or so far removed from this stock that they cannot be found. There will ultimately be a TON of sharholders who own less than 500k shares who just won’t bother claiming their dividend b/c of the small monetary value.

My “theory” would be that, along with covering the liabilities, Wizard’/the receiver’s, job will be primarily focused on determining the legal owership of MDMN’s outstanding shares. Who owns what and who even still cares to receive the dividend. This would be similar to a transfer agent’s responsibilities and I presume Kevin will spend a considerable amount of time coordinating with them.

Once a book of “shares of record” has been established his responsbility will be getting the correct number of shares to each legitimate MDMN shareholder at, hopefully, a dramatically lower ratio of 200:1. I would guess that the first step (beyond figuring out how to handle the liabilities) will be a letter to shareholders of MDMN to begin the process of identifying who will ultimately get shares. There will need to be a minimum amount of time and effort to locate these shareholders but a LOT of folks won’t ever respond. Considering that shares of MDMN will cease to exist post the receivership, I imagine it will be exceptionally difficult to deal with fractional shares in settlement.

Just a guess and Kevin, who is limited in what he can discuss, may be inclinced to discredit this theory but it seems to make the most amount of sense and, while it will take a looooong time, MDMN shareholders may end up with more shares in AUMC than what is currently being discussed.

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598

Senior Bubba. Can you please provide specific examples of slanderous or hate inspired comments/accusations towards Wizard and/or MC? That in itself in a pretty strong accusation but one where the moderators clearly find acceptable to not censor.

It would be immensely helpful in my gaining a better understanding of what is triggering such an emotional response. Thank you in advance.

599

GCCapital has asked the forum to stop going after individuals. This only works if ALL parties just STOP NOW and quit trying to get in the last word. Please….

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600

There has been a disappointing delay in MDMN shareholders receiving a prorated allotment of AUMC shares. When these are finally distributed I think they will more formally be received as “nontaxable nondividend distributions”. This is my opinion and I don’t expect any tax consequences from receiving my allotment of converted shares until I sell AUMC shares. The unfortunate part of this is I won’t have taken available my considerable tax loss if I had sold shares while they were still trading with the expectation of buying them back after 30 days as some had conjectured. Actually this “option” NEVER was available to me as my MDMN shares are in an IRA.

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601

Baldy thanks for your insights on this. I would think most here would be willing to endure the additional time needed, if Wiz is able to get the MDMN share count down significantly lower than the 2.8B mark.

I don’t know how that would be possible given that the fraud perpetrated to my understanding involved the TA actually releasing those shares to the market in street name. When you refer to “shares of record" please clarify what this means. The way I understood it was that LP fraudently misrepresented to the TA approval to issue more shares. Once those are out in street name being actively traded, Wiz would not be able to eliminate those shares. Doing so would jeopardize anyone’s legitimacy of shares owned in street name. If there are actually fraudently issued certs then that is a completely different story. Judging by how we saw the fraud play out in hind sight, most if not all, of that fake supply appeared to have been traded in street form. That was the scheme correct? LP issued fake shares to cronies for less than the market value and they immediately sold them into the market. LP collected the money in his personal MDMN named account.

602

“In street name” means a BROKERAGE owns it.

But, I do i understand what you’re trying to say.

603

The LP related shares are out in the market. You are correct. The “genie is out of the bottle.” I believe some of those shares were cancelled out in the prior reconciliation. I use the term “share of record” loosely. I’m referring to those shareholders who respond to any outreach coming from the company/Kevin/the transfer agent, who confirm that they own XXX shares as of XXX date. Similar to a proxy, if you don’t respond, you don’t get a vote. For all of the shares that do not receive a “response” there is simply no record of shares nor obligation to send the AUMC dividend. I’m guessing there are North of a billion shares that will not “respond.” Lots of people no longer living with stale brokerage accounts lacking trusts or beneficial owners; lots of people who own less than 500k shares who won’t feel its even worth the effort given the small economic benefit; etc, etc.

It’s important to keep in mind that 500k shares, at one point, were worth a bit of money. The past two decades have wiped out 99% of that value. Unless you were unfortunate enough to have been adding million of shares “as risk was reduced and boxes were checked” over the past coupleof years, the average cost basis for most is well North of a penny (even though the last trades before delisting were another 90% below that level). So, you need to ask yourself: of the 1000’s of MDMN shareholders, how many have a large enough position (500k+ shares) to even bother with responding. Based on AUMC at a buck, every 100k shares in MDMN is only valued at $500. While the fraudlent shares are in the market, some of the entities who subscribed to those shares are no longer in existence and/or have no desire to lose anonymity by becoming a shareholder of record. Probably lots of other explanations for a non response.

After a certain, minimum allotment of time (6 months?) and a demonstrable effort to reach all shareholders the books will close and a distribution will follow, to those who responded. At this point, the expert market status will be helpful. Nobody can buy shares to increase their AUMC allocation. There doesn’t needed to be an ex-dividend date.

Specific to tax exposure. While I don’t know how this “allocation” will be classified, there will need to be a cost basis. Otherwise you would/will be taxed on the entire value of the AUMC shares (cost basis of $0.00). The cost basis will be calculated based on the price you paid for MDMN and adjusted for the ratio vs. AUMC shares.

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604

Thanks again for your feedback. Throwing $2,500 in the garbage can seems like an odd response for a 500k shareholder of mdmn, especially with some potential upside to AUMC. However none of the remaining shareholder base will be complaining since it increases the distribution rate for the remaining. Seems like you took this opportunity to once again remind everyone how badly our investment value has been beaten into the ground. Thanks Baldy.:roll_eyes:

605

That’s what I’m here for!!

In all honestly, I would not be suprised if there are less than 100-200 shareholders owning more than 500,000 shares. Most of the participants around here are tillted to a larger quantum, otherwise they probably wouldn’t be following this board/conversation. Unless, they are odd birds like myself, with no position but have an interest in following the story. If you aren’t following this board you are essentially in the dark, and either not vested, underinvested, or uninterested. Even on this board there is likely less than 50 active posters/readers. Keeping this in mind, there’s a posibility that of the 2.8 billion shares, only a fraction of the actual shareholders show up. Think about how many of the larger holders, like Traderrich, sold shares to harvest losses over the past several years during a rip roaring bull market with a lot of gains. Yes, 500k shares, or $2500, is worth getting out of bed for, but think about how few people, still alive, are still holding that type of position. Nottalotta. Just food for thought and I believe that is the primary focus and mission of the receivership: trim the fat and then make a distribution.

A great arbitrage opportunity for anyone who can find a way to buy 100’s of millions of shares at $0.0001. I haven’t had any luck but, if I were advising Kevin, I might try to set some sort of cutoff date, a psuedo “ex-dividend” date to prevent foul play. I’m way over my skiis on this topic so I’ll leave it to the pros.

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606

Maybe Kevin, can ask our help to give him our share count on the website he created or maybe he has a better way for an Audit. Example Brokerage name and how many shares of MDMN are held.

Also remember 2 years ago when you had that group try to take the shell of MDMN when they were buying millions of shares at .002-.004 all the way up to .008. Wonder what happened to those shares?

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607

I read the court order appointing the receiver and was pleased to see that the petitioner making the request was Mr. Cordova.

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608

Where are these MDMN shares coming from ???

Sold @ $0.000001

12/30/2025 11:28:55 155,000
12/29/2025 13:56:10 200,500
12/29/2025 10:30:37 5530
12/29/2025 10:30:31 18344
12/29/2025 9:48:11 10000
12/29/2025 9:48:11 10000
12/29/2025 9:48:11 4,739,900
12/29/2025 9:48:11 5530
12/26/2025 19:24:08 5,947,778
12/23/2025 14:01:13 15000
12/23/2025 14:01:13 150000
12/23/2025 14:01:13 14000
12/10/2025 13:51:32 25145
12/08/2025 11:09:38 474,200
12/05/2025 13:43:26 131,698
12/05/2025 12:14:40 25000
12/04/2025 14:59:56 1,105,908

609

The ask for AUMC is now $1.41.

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610

It looks like to me few shareholders could actually write these shares off as a tax loss write off. There are likely a few that were eliminated from settling of estates. The total number of shares you are showing are a very minuscule amount of the total 2,882,282,073 shares shown on the last reporting record. The 4,739,900 shares would be a considerable tax write off

If waiting for the conversion to AUMC shares at a conversion factor of 200 MDMN shares for 1 AUMC share, it represents approximately 23,700 shares distributed of AUMC, and even at a $1 per share a potential $23,700. That is if the shareholder is willing to wait out the time until distribution. What would the tax write off have been if the average share basis was $0.01? Let’s see, 4,739,900 X $0.01 = $47,399 …

I also wonder what the actual tax loss basis of those shares 4.7M shares were. I know mine would have been more than double the amount in the example, if I could take a tax write off in an IRA. When things get sorted out and AUMC actually has some free cash flow, I wonder what value AUMC may be trading at. With only 6,572,781 shares held by shareholders in brokerage accounts I think shares may be trading at a high value for present shareholders to let go of those few free trading shares. I know I would like to see a minimum of $5.

A New Year’s Prayer from year’s past by Charlotte Anselmo:

"I wish you Health

So you may enjoy each day in comfort

I wish you the Love of friends and family

And Peace within your heart

I wish you the Beauty of nature

That you may enjoy the work of God

I wish you Wisdom to choose priorities

For those things that really matter in life

I wish you Generosity so you may share

All good things that come to you

I wish you Happiness and Joy

And Blessings for the New Year

I wish the best of everything

That you so well deserve!"

Yes, hard to believe 2026 is almost here!

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611

Hope everyone’s new year is healthy, safe & profitable.

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