In theory, if the numbers turn out like we think, then we should be doing well this time next year, if not by summer. That’s the timeline I’m using anyway - just going by what management is saying they anticipate. It’s been a LONG wait - but yes, I’m like you, feeling good because we’re on the doorstep of production. Lots of stories around here, but I have a good one I’ll share with you one day - maybe BB will give me a paragraph or maybe even a chapter in “the book”? Nah, probably a footnote - but, Madmen deserves a whole chapter, not to mention a couple other folks. Bwahahahaha!
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Enough to pay back MC plus the FF plant loan Im guessing.
I’m confused about you.
You just suggested (albeit with the cute little smiley faces) that MC et al are in this just for themselves, but then a few posts above you said:
“I’m not a resident basher. I happen to think everything is positioned well for this to be successful.”
Soft fud, hard fud, optimism.
I guess it depends on the day of the week?
You’re starting to make BE look …… good - at least he was consistent.
And, yeah, BE, that was a compliment - that is, if you can take a break in between buying tranches of Auryn to read it. Everybody knows, that’s exactly why you’re here = because you actually think these guys are gonna pull it off, the “go it on your own” method. We’re on the doorstep of it happening; and as many times as you scoffed and ridiculed those that made the suggestion some years ago, even YOU now see that there is hope. As I said, it’s why you’re here.
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Yes its why I’m here. I’m not hiding that, I have alot riding on this. For some in the same position that means that they give an unquestioning blind pass to anything MC does regarding this investment. That is dangerous. The original equity arrangement is the definition of FUD. I didnt create it, they did by entering into it, publizing it, and then quickly changing it post upheavel. I’ve already explained this to you.
I look forward to celebrating with all of you when that time comes, virtually and perhaps even in person. I’m not your enemy. All of us approach this soap opera differently.
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Seems like it’s Black or White with you - no in-between. Broaden your spectrum and make your life a little easier. I am 100% confident in Auryn going into production on multiple claims. But I have always had minor concerns about shareholders only given limited info, and a few other questions here and there. This is the OTC market, this is normal, imho. I don’t think anyone here is/has given Auryn a ‘blind pass’ as you say. And your definition of ‘dangerous’ isn’t clear. But with good reasoning skills, some of us are better at sifting out the slag whether we voice it or not.
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A quick reminder that we are here to discuss the investment, not the investors—-
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Where is BE? Need some action around here.
Pictures:
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Wow! Doesn’t look like they’re just pouring a flat foundation for a house but retaining walls. What is that going to be for?
Today I emailed AURYN and asked, “What are the foundation and those retaining walls for?”
They sent me back this link: https://www.youtube.com/watch?v=APG_jheYc2s
– madmen
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A definite sign this company is swirling straight down the toilet.
NOT.
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Something tells me they’re gonna be mining some gold in the near future.
But, that’s just me.
Maybe they’re digging a swimming pool for MC and his family - and maybe they’re just gonna turn the entire top of that mountain into some kind of private amusement park just for his family?
Probably nothing.
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I love that reply you got from them, madmen. Thanks for sharing.
I believe said foundation & retaining walls are for the tailings dam.
FROM THE JULY 2025 UPDATE:
Additional infrastructure is also advancing. Notably, construction of the Main Warehouse is well underway. Meanwhile, tailings dam construction is planned to begin in September 2025, following the completion of foundational groundwork.
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“BOOTSTRAPPING”, THE “ULTIMATE GOAL/TRIFECTA” FOR THE JUNIOR MINERS, AND TURNING THE CORNER OF “THE LASSONDE CURVE”
It’s interesting how we participants of TheMiningPlay investment forum go through these bouts of frustration/depression when it seems like no progress is being made despite the fact that the Auryn quarterly updates cite definite progress being made. We’ve been programmed to believe that management doesn’t shoot straight on their quarterly updates. Then, all of a sudden, management posts a couple of pictures on “X” that irrefutably prove that major progress is being made, even during the dead of winter in Chile, and everybody gets re-energized. Maybe, just maybe, we should have trusted the quarterly updates in the first place.
Recently the participants of TheMiningPlay were told that absolutely no progress was being made and that Auryn couldn’t even order equipment because of permitting issues. On the very next day, Auryn posted on “X”, pictures of their brand new recently completed gyratory crusher and gigantic custom-made ball mill that were just recently fabricated and delivered by “Comesa” out of Lima, Peru.
Auryn management’s “BOOTSTRAPPING” approach, which involves the refusal of management to take money from outside funders during the exploration/development phases, is what got Auryn into good shape to pull off the “TRIFECTA”. The “TRIFECTA” is the ultimate goal for any junior miner. It involves not only overcoming the 1-in-1,000 chances of successfully advancing a mineral prospect into production but doing so with a minimal number of “SHARES OUTSTANDING” and as low of an “AISC” as possible. If a junior miner can pull off the “TRIFECTA”, then maybe the shareholders/speculators deserve the ULTRA-HIGH REWARDS associated with this industry characterized by consisting of speculators assuming ULTRA-HIGH RISKS while seeking ULTRA-HIGH REWARDS.
The junior explorer/developers do nothing but spend money, and if they’re constantly selling shares at steep discounts to the prevailing share prices, due to the ULTRA-HIGH-RISK nature of this sector, then the resultant SHARE STRUCTURE DILUTION is usually enormous regardless of the merits of their mineral assets.
Auryn’s CEO’s willingness to provide funding during the gap in between the exploration phase and going into production, by injecting millions of dollars of interest free cash, was a godsend for Auryn’s share structure and the Auryn and Medinah shareholders. This “godsend” will last for the entire lifespan of the corporation just like how the SHARE STRUCTURE DILUTIONAL DAMAGE those miners taking the “STANDARD APPROACH” suffer from, will last for the entire life of those corporations. This generosity shown by Maurizio, keeps Auryn’s chances to pull off the TRIFECTA alive.
Here’s the problem with investing in the junior mineral explorers/developers. It starts with some statistical realities from the World Gold Council. STATISTICAL REALITY #1: Approximately 1-in-1,000 mineral prospects will ever make it all of the way into production. STATISTICAL REALITY #2: Even for that incredibly fortunate 1-in-1,000 that makes it into production, it can take an average of 17 to 24 years from the commencement of exploration to the first day of production.
You might wonder what happens during those 17 to 24 years. SHARE STRUCTURE DILUTION is what happens because the junior miner needs to constantly pay its monthly “burn rate” by selling shares, often at steep discounts to the prevailing share price. Why is this? It’s because of “STATISTICAL REALITIES” #1 and #2 i.e. the insanely high level of RISK associated with this sector and the extended TIMEFRAME involved even for the “lucky” ones.
So, now that we’ve heard the bad news, what’s the good news? The good news is that these ULTRA-HIGH RISKS are often offset by concomitant ULTRA-HIGH REWARDS for the shareholders of the “lucky” 1-in-1,000 that patiently waited for irrefutable proof that “production” was indeed about to commence. This is especially true if the metals being mined are trading at or near all-time highs.
What is the obvious takeaway from these two “STATISTICAL REALITIES”? The takeaway is that the “sweet spot” for an investment in this sector becomes only buying shares of a junior miner AFTER it has irrefutably proven that it is indeed about to go into production and that the inordinate amount of time typically spent in achieving this goal is in the rearview mirror.
The graphic representation of these realities is referred to as “THE LASSONDE CURVE” linked to below:
The Lassonde Curve - Mining Explained
Understanding “The Lassonde Curve” has resulted in investors earning perhaps billions of dollars in the mining sector. It’s as simple as “history tends to repeat itself”. The share price performance of a successful junior miner shown in graphic form, typically takes the shape of a forward-leaning “CAPITAL N”. The “Y/vertical axis” is the share price and the “X/horizontal axis” represents TIME. The left-hand vertical component of this “Capital N” typically shows the positive response of the share price of a junior explorer to a successful drill intercept.
The descending diagonal that links the 2 vertical parts of the forward-leaning “CAPITAL N”, describes the “orphan period” when the early speculators cash in on their profits when it dawns on them that one good drill intercept does NOT indicate that the mineral prospect is “economically feasible” and that the mineral prospect may never get into production. There are still pesky issues pending like getting the project financed, permitted, and built. A lot of SHARE STRUCTURE DILUTION can occur during this “orphan phase” and this can turn investors into sellers out of frustration, as they lose the percentage ownership of the corporation they once had.
As you can see on the graph, the intersection of the downward diagonal and the right-hand vertical component of the “CAPITAL N” is where the “CONSTRUCTION PHASE” of the mine has commenced after successfully getting the project financed and the preliminary permits put in place. Auryn management just posted on “X” irrefutable proof that Auryn has clearly commenced the “CONSTRUCTION PHASE”. The “permitting process” is never really over, it is a non-stop affair throughout the “life of mine”. The intersection point of the downward diagonal and the right-hand vertical component of the forward leaning “Capital N” becomes the “sweet spot” for an investment in this sector i.e. during the commencement of the “CONSTRUCTION PHASE”.
The LASSONDE CURVE is very much in agreement with the two “STATISTICAL REALITIES” listed above. Being endowed with 20-20 hindsight, it might be wise to hold off on investing UNTIL there is irrefutable proof that the project is indeed going into PRODUCTION. This is evidenced by the “CONSTRUCTION PHASE” commencing. This means that any inordinately long wait period preceding PRODUCTION is also in the rear-view mirror. Nobody is going to finance the expensive “CONSTRUCTION PHASE” of a mine until there is irrefutable proof that the project is indeed going into “PRODUCTION” and that the “ORPHAN PERIOD” is over. Mining financiers are given a superior view of the playing field, and they have a better understanding of the nuances of the mining industry. They are the “Smart Money” whose lead is worth following.
The height of that right-hand side of the “CAPITAL N” i.e. the increase in the share price once the “CONSTRUCTION PHASE” has commenced, is going to be primarily determined by 2 factors. One has to do with the NUMBER OF SHARES OUTSTANDING of the “junior producer” at the time of going into production, and the other has to do with how low the ALL IN SUSTAINING COST (“AISC”) of their mining operation is. This is where the famous “10-baggers” can occur for those “junior producers” with BOTH a low number of shares outstanding and a low AISC. It goes without saying that if the prices of the metals being mined and sold just so happen to be at or near all-time highs, then one would expect an enhanced return on investment. “The Lassonde Curve” is based on the historical price performance of a very large number of junior miners that were fortunate enough to make it to the “CONSTRUCTION PHASE”. As noted, HISTORY really, really, really does tend to repeat itself.
As it relates to Auryn/Medinah, recall how the Medinah share price was on a roll back when Medinah and Auryn were drilling 31 diamond drill holes into the “Gordon breccia pipe”. The results of the drilling and the previously acquired hyperspectral satellite imaging survey (CSAMT) results as well as the IP/IR results indicated that Auryn/Medinah had discovered a very long-lived, multi-phase, hydrothermal system. The evidence for the existence of at least one copper-moly porphyry is beyond compelling.
The euphoric rise in the Medinah share price, however, soon ended when the indiscretions of a Medinah management member were revealed. Soon the share price slid down that diagonal uniting the left-hand and right-hand vertical components of the Lassonde Curve’s forward-leaning “Capital N”.
The “ball” was then handed off to Auryn Mining, and now, several years later, Auryn/Medinah has just entered into the “CONSTRUCTION PHASE”. The irrefutable proof of this was presented to us on or about September 17, when Auryn made their postings on “X” showing a video and several still photos of the progress being made at the ADL plateau.
Auryn has recently made known their intent to open up mining operations at 8 different sites in a sequential fashion. They include the DL2 Vein, the Caren Mine, the Merlin 1 Vein north project, the Merlin 1 Vein south project, the Merlin 4 Vein north project, the Merlin 4 Vein south project, and 2 separate operational sites at the “Fortuna 1913” location near “level 2” of the “old works”.
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Another flyover (drone?) was just posted on Twitter(X): https://x.com/aurynmining/status/1968739231125184740
Looks like about 9 guys are at work.
I wonder what all this stuff is and what they’re shoveling - maybe someone who’s knowledgeable can tell us.
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Hi MrB,
I just got some clarification out of Chile. What you see in that video is the fortification for the froth flotation site itself, where the plant is supported. This was designed by our team of engineers which probably means Ashmore/Stracon. There are 3 different contractors currently involved with “over 180 people currently working on a double shift basis”.
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Thanks - and from what I saw on Twitter, this was EARLY September, which means the concrete could even be dry by now - hahahahaha! Seems like they won’t be wasting much time with 180 people working on double shifts - seems like they’ll try to get this cranked up asap.
And your prior question as to the timing of getting each of the successive 8 mines into production will be interesting - again, seems like they won’t be wasting time.
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Hi MrB,
You’re right, time is of the essence when the 3 metals being mined are all trading at or near all-time highs. I had a feeling that something like this was going to happen. Maurizio does not know how to do anything “half-way”. I remember back at the “informational meeting” held in Las Vegas, Maurizio said that the plan is to become a “mid-tier gold producer” as quickly as possible.
I remember kind of rolling my eyes when I heard that. It’s an undefined term but most of us think of a “mid-tier miner” as producing a minimum of 200,000 to 300,000 ounces per year. At that same meeting, I had a side-bar meeting with a person that knows what’s going on behind the scenes and I brought up that comment. This person’s reply to me was “just watch”.
Maurizio’s not cocky. At that same meeting, he admitted that taking on the Pegaso Nero copper-moly porphyry prospect was way too big for Auryn. He admitted that we’d need the help of a major or possibly even a consortium of majors if the prospect was determined “economically feasible”. Note that with the current prices of gold, copper, and silver my grandkids’ sand box is probably “economic”.
IMO, Auryn is not going to be producing 200,000 ounces per annum any time soon. I do trust in what that “headmaster” at the School of Mining Engineering at San Sebastian University had to say about the ADL’s potential to be a lot like the El Penon Mine (a huge mine) which was discovered by Meridian Gold, then bought out by Yamana which was then taken out by PanAm Silver. This guy, Senor de la Torre (sp?) was the Head of Underground Operations at El Penon and he knows his stuff. At El Penon, there are also about 7 Main Veins. They are currently producing from about 38 separate operational sites.
That other professor guy from Germany who has authored some 185 scientific articles in the various mining journals, his name was Dr. Helmut Mischo, also chimed in on the ADL stating that once Auryn got the froth flotation plant all “dialed-in”, the ramping up of the production rate was going to be “very straightforward”.
Richard Sillitoe, another collaborator with Maurizio, who is probably the most prolific “mine finder” in the history of mining, as well as Rob Cinits of ACA Howe, Mining Consultants, BOTH chimed in that at the ADL those veins are BOTH INCREASING IN GRADE AND WIDTH WITH DEPTH.
Maurizio has sat across the table from a bunch of brainiac, world class mining engineers and geoscientists. He knows what we’ve got and he’s going to go after it aggressively, especially with the prices of the metals being what they are.
In those still photos and videos on “X”, you can see snow on the ground all over the place. Maurizio got a heck of a lot done in the dead of the Chilean winter. I follow the weather report for the “Alto de Lipangue plateau near Lampa, Chile” constantly. Chile’s winter is officially over in about 3 days and the recent temperatures on the plateau are averaging a high of about 50-degrees F. I have a feeling the progress is about to accelerate rapidly. I told him this morning that the recent photos and videos were very much appreciated by the shareholders, and he appreciated hearing that very much. I have a feeling there’s going to be a lot more of that heading our way. With that many workers helping out, you have to figure that the word has to be getting out pretty soon to the mining community.
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Yes, very consistent with reality - MC does not get his loan money back and does not earn dividends unless and until this operation gets cranked up. Period. Thanks for sharing!
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Almost there
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