You like reading BB’s stuff because he’s consistently positive. It really doesn’t matter what is happening fundamentally and that makes you feel better about holding this investment. Its really not healthy to lean on a security blankee when it comes to managing your money but “different strokes for different folks.”
Per my post, I was addressing those with a precursory knowledge of mining. My comments were not directly at you and your response is exactly why. No, you cannot visually separate 1000’s of tonnes of ore. Yes, you can take a couple hundred pounds directly from a vein and send it to a lab but this has no relevancy to properly evaluating 120 million pounds. One might make an argument that testing 200 of 120M pounds is not a representative sample. But then you would also have to believe that there aren’t 60k tonnes of 60gpt material sitting on a mountain.
I really can’t wait for actual mining to occur. It’s going to be fascinating to hear the sonic boom as reality collides with some of the narratives floating around this board.
OK, I don’t believe a word you say, but I’ll play.
If you can take ore directly from a vein, sending it to Peru and Enami for valuation, I think that means you can take that same ore, directly from veins, and put it into a froth flotation plant?
As previously stated, I think the faithful will push the price upwards, wouldn’t be surprised if it goes over $2 in the next while. Problem is that this will be on low volume (for a normally tradable stock) so I think it will take some time before you can dump 10’s of thousands of shares at the bid.
Umm. Yes, that’s exactly what you can and the will do. Do you understand they are trying to follow a little vein, only a couple feet wide down a masive mountain? Do you understand how much worthless rock they are going to “blow up” in an attempt to extract minerals from that minsicule vein? Where do you think they put the worthless rock? Is Maurizio hand sorting thousands of tonnes? Once you’ve cleared all of the rock and are staring at the vein its not difficult to extract and couple hundred pounds directly from the same and send it to a lab. No legitimate mining operation would rely on the grade of the ore from the vein tb/c it has no representation on all of the other stuff. This is where average blended grade comes into play but I don’t want to overly stimulate you with big words. The reason why it took them a year to find it and the reason why there will be months/quarters of them trying to find that vein in the future is because mining is HARD. What amazes me: you’ve been stuck in this disaster of an investment for decades, with so much disappointments and false promises, hype on this board that never came to fruition and you still have no humlity nor have you gained any basic understanding of mining. I would stick to the colortful commentary and Brecciaboy cheerleading squad.
Anything is possible as this is indeed an extraordinaryly thin stock until the 15 million shares are distributed. I’m not sure the “faithful” have any bullets left. If you read the commentary on this board and the “no brainer” confidence it just doesn’t jive with almost zero volume. I believe you need new money to take it to $2 and the fundamentals don’t even come close (today) to justify that price point. I’m sure Maurizio can bring in some fire power and maybe he’ll even take the opportunfity to raise money if prices stay above a buck but there is a whole lotta wood to chop before sustaining $150M market cap is possible. IMHO
Agreed, and MC should not be advertising 60k tons of stockpiled ore if nowhere near that amount actually has value. This is very irresponsible if that is the case.
Somebody should try responding to Baldys post about how its implausible to have mined that much ore in the stated time. It would be nice if someone could get an answer from the company. Misleading information is destructive, especially at a time when this company is trying to build credibility and be recognized. Someone close to MC needs to tell him to clarify what exactly is meant by 60k tons of stockpile.
Based on production and other timelines, how well gold is doing and is expected to do and tight float; looks like about a $5+ a share stock before the end of the year.
Doubt we will see large dumping of shares materialize until Medinah shareholders get their Auryn share dividend. However, I assume those will be R144 shares with at least a year hold time prior to requesting a legend removal so that is still quite a ways off not mention the Medinah liquation process is unlikely to happen very quickly either.
I look forward to pointing to that post when $5 a share threshold is reached. (If it doesn’t, I don’t have the slightest worry that you will quote that in the post at the end of December….game on!)
You might have something there - the shares from the receivership just might not yet be distributed and free-trading by that time (April), and if word of sufficient production just happens to get out ………
You gotta love the archives. Keeps people honest. Or at least is should. The problem becomes, when you refer to older posts and all of the ridiculous failed predictions, you get accused of fixating on the past. I tend to measure the probability for the accuracy of new predictions based on historical track records. Not encouraging.
As the Hulkster will be quick to point out, if DOGE coins can go up 1000% there’s no reason why AUMC cannot do the same. While sound logic it still helps to at least attempt to project how these price targets are met. In your example, predicing a $350M market cap, it would be great to learn how you came to that conclusion (annual production, costs, etc.). Just playing devil’s advocate here but most co’s at that cap, tend to have resources, issue legitimate financials (maybe even have a CFO!)., and other boring stuff like that. But hey, if DOGE can do it, so can AUMC.
There’s doubt that the dividend shares, whenever they are distributed (2027?) will carry a restrictive legend. Those legends are typically 6 months to a year. I hold several that are two years. Yes, that could be helpful in reaching your $5 price target but not a great outcome for all of those holding restricted stock watching the price spike up and down.
In any case, its great to have the old MikeGold back.
He’s a fund manager looking for an entry point. Probably frustrated because the vehicle for entry (Medinah) was taken away and the AUMC shareholders aren’t budging! No way in!
Y. Major FOMO. Only problem with that logic is that AUMC continues to underperform the precious metals. You can take a day long, week long, month long and (obviously) long-term view of this stock and it still lags. Translation: you’d STILL be making more money in almost any other comp. The entire sector is going parabolic. Truth be told, I’m starting to hedge and expect a short-term, sharp pullback but I could be wrong. This being said, the chart looks good. You need the volume for any sort of real confirmation but “up and to the right” is the preferred trajectory.
Baldy, “There’s doubt that the dividend shares, whenever they are distributed (2027?) will carry a restrictive legend.”
I believe it mostly depends on whether there still is a restriction on the Auryn shares that are beng held by Medinah. If they are still restricted, the restriction would carry over. Per a previous news release back I think in the 2016 time frame it was stated, ““These shares are currently restricted” and that it intended to work with securities attorneys to remove the restriction and distribute the shares to its own shareholders. This implies there is at least the possibility that they are no longer restricted but I rather doubt it. With all the fallout due to Les Price, the chances of the regulators allowing the restriction to have been removed is somewhere between nil and zero.
I’ve been hearing of them and thinking of them not as “dividends” but as “conversion shares”?
Is there a distinction? Has anyone hacked their way through these particular deep weeds before?
If and when our dormant volcano of MDMN shares are converted into AUMC shares and distributed to all of us long-sufferers, it would be wonderful to receive shares that are not restricted. Eruption delayed an additional year? Yipes!
You can use AI to sort through all of that. When I did that, it comes down to the current status of the shares that Medinah owns. Pretty sure they are still restricted but not sure. It is in Auryn’s best interest that they are restricted so they don’t all come into the market at once so I doubt anyone was bending over backwards to get the restriction removed previously. IMO, 2027 is probably a reasonable time frame to expect to have received them and have them tradeable. (and I’m an optimist by nature.) Hence, why $5 + share price should be attenable short term for Auryn with the building interest, meeting exciting milestones and continuing tight float.
