Auryn/Medinah 2026 1st half General Discussion

DoneDeal · January 26, 2026, 3:56pm

From Google Translate

In Santiago, Chile, on January 9, 2026, the following mining claim was presented to me for registration: “Subject: Mining Claim Code: PO2. Procedure: Voluntary. Applicant: AMERICAN SIERRA GOLD CHILE SpA. Tax ID: 78.263.757-6. Representative: ITALO ANDRES VOLANTE GOMEZ. Tax ID: 9.383.684-7. PRINCIPAL MATTER: Mining Claim. FIRST ADDITIONAL REQUEST: Request for certification. SECOND ADDITIONAL REQUEST: Proof of legal representation. TO THE HONORABLE JUDGE OF COLINA. Italo Andrés Volante Gómez, Chilean, divorced, lawyer, Tax ID: 9.383.684-7, representing, as will be proven, AMERICAN SIERRA GOLD CHILE SpA, a Chilean company engaged in the development of mining projects, Tax ID No. 78.263.757-6, both domiciled for these purposes in the city of Santiago, at Avenida Presidente Sebastián Piñera Echeñique No. 1822, Apt. 104, Las Condes commune, respectfully state to Your Honor: That wishing to establish a mining concession for the exploration of concessionable substances, in open and uncultivated land, located in the Lampa commune, Chacabuco Province, Metropolitan Region, I hereby submit a mining claim which I will call “CHANCHO DE ORO 1”. The U.T.M. coordinates of the Midpoint are as follows: 6,326,500.00 meters North and 314,500.00 meters East, referred to the International Ellipsoid 1924, South American Datum La Canoa 1956, Zone 19. The requested land is comprised within a rectangle imaginarily drawn on the horizontal plane, whose diagonals intersect at the aforementioned Midpoint and whose perimeter encloses the totality of the requested hectares. Two The sides of the rectangular configuration, in their North-South UTM orientation, will measure 3,000 meters, and the other two sides, in their East-West UTM orientation, will measure 1,000 meters, enclosing a total area of 300 hectares. THEREFORE, in light of the foregoing and in accordance with articles thirty-four and subsequent articles of the Mining Code, I REQUEST that Your Honor: please accept this petition and order its registration and publication in accordance with the law, providing me with the corresponding certified copy. FIRST ADDITIONAL REQUEST: In accordance with the provisions of article 47 of the Mining Code, I request that Your Honor order the clerk of your court to certify the time and date of filing of the petition in this case with the court. SECOND ADDITIONAL REQUEST: I request that Your Honor take into account that my legal capacity to act on behalf of AMERICAN SIERRA GOLD CHILE SpA is evidenced in the updated articles of incorporation, in accordance with clauses six, seven, and eight, granted by the Registry of Companies and Corporations, and that a copy with an advanced electronic signature and validity is attached to this filing. Page: 4.-
Nomenclature: 1. /4729/ Certificate of application filing. Court: Court of First Instance of Colina.
Case File: V-371-2025. Case Title: American Sierra Gold Chile SpA/. Colina, December thirtieth, two thousand twenty-five. I certify: That the preceding mining petition was filed on December 4, 2025, at 09:27:41 hours. Gloria Andrea Guerra Guerra, Secretary
PJUD. December thirtieth, two thousand twenty-five. 16:17 UTC-3. Page: 5.- five.-
Nomenclature: 1. /4690/ Orders registration and publication. Court: Court of First Instance of Colina.
Case File: V-371-2025. Case File: American Sierra Gold SpA./ Colina, December 30, 2025./vap/. Regarding the document on folio 3, dated December 12, 2025:
Take note. Regarding the document on folio 1, dated December 4, 2025: Regarding the main matter,
the proceedings are hereby initiated; register it with the competent Mining Registry and publish it in the
Official Mining Gazette. This resolution shall serve as sufficient and formal transmittal notice.
Authorization is granted for processing by the applicant. The party is hereby informed that, pursuant to the
Interinstitutional Agreement for Information Transmission between SERNAGEOMIN and the
Civil Courts of Santiago and the Court of First Instance of Colina, in effect from March 1,
2025, and Agreed Order No. 71-2016 dated June 17, 2016, of the Supreme Court, in
CVE 2758448 | Director: Felipe Andrés Peroti Díaz
Website: www.diarioficial.cl | Central Office: 600 712 0001 Email: consultas@diarioficial.cl
Address: Dr. Torres Boonen No. 511, Providencia, Santiago, Chile.
This document has been electronically signed in accordance with Law No. 19,799 and includes a timestamp and advanced electronic signature.
To verify the authenticity of a printed representation of this document, enter this code on the website www.diarioficial.cl
No. 44,359 OFFICIAL GAZETTE OF THE REPUBLIC OF CHILE
Monday, January 26, 2026 Page 2 of 2
relation to Law No. 20,886, articles 6 and 12 No. 1, a fully digital processing system is established
for cases concerning mining claims and declarations. Therefore, in From now on, the physical delivery of any document associated with this voluntary process is
eliminated. Regarding the first additional clause: Certify what is appropriate. Regarding the second additional clause: Take note and consider it as attached.

Texzen · January 26, 2026, 4:00pm

Can someone explain what this means? Thanks.

mrbubba · January 26, 2026, 4:10pm

Good Heavens!

Gold at 5,100, Silver at 112.

Hope the dialing-in phase is a short one - something tells me MC has that thought in mind.

Would love to hear an announcement when it starts.

Baldy · January 26, 2026, 4:13pm

Its called a silent majority. Yes, you and a handful of others are still avidly taking notes from the professor but, for the majority of folks (at least those that are still around) they are smart enough to avoid boasting about being stuck in a stock for ten years (ten years!) without a return. This silent majority has been around the block. They may be cautiously optimistic but are rightfully pausing before celebrating imminent riches for the uumpteenth times and way to “seasoned” to fall for the old “ATM dividend machine” gag. They aren’t falling off their chair every time a couple thousand dollars of buying takes the price of AUMC higher and they certainly aren’t becoming emotional when someone on this board offers a view that is counter to the long standing euphoria. The silent majority is wise enough to wait to see permits and profitable mining before making billion dollar price targets and they have been stuck here long enough to know that even a modicum of drilling for resources many moons ago would have brough this investment into fruition within a more reasonable timeline. Its the difference between guarded optimism and boundless hope

Baldy · January 26, 2026, 4:16pm

Feels like something has been brewing there for awhile. Even AMNP has a $120M market cap and has had a few decent days of volume since December.

Jimmyp1127 · January 26, 2026, 4:25pm

I believe Medinah owns 10.5M shares of AMNP. At current pps thats worth over $1M.

mrbubba · January 26, 2026, 4:26pm

IMHO, AUMC will have a higher earnings per share the first year out than PPX.

Uh-huh.

MDMNJaded · January 26, 2026, 4:33pm

Interesting. I can’t think of any shareholder with either MDMN or AUMC (or both) consider their investment so negatively, especially not at this point where evidence of high returns blankets Auryn’s claims.

I have both MDMN & AUMC and I’m confident those returns going forward will be … (dare I say it?) … worth the wait. No need to be so grimm about it.

jds · January 26, 2026, 4:45pm

Well said. Evidence over rhetoric.

Jimmyp1127 · January 26, 2026, 4:45pm

I’m no Baldy fan but perhaps we should wait to make sure there are no hiccups with the AUMC distribution first. Without those shares in hand, this is all worthless to MDMN stuckholders.

I trust we are in good hands with Kevin but until those shares are in our accounts, I wouldn’t be so quick to do somersaults.

easymillion · January 26, 2026, 5:03pm

A few questions for BB:

Do you remember this image from 2015-2016?

Didn’t “supergene” enrichment occur in one of the upper zones shown in the image above? Is this where copper is leached from the very top and redeposited just below the water table, creating much higher-grade ore? At deeper depth it’s something else isn’t it?

Also, across the ADL the highest silver grades were found at lower elevations. Within its underground adits, specifically at levels between 1,840 and 1,875 meters. At the 1,840 Meter Level in Adit #2 there were identified anomalous silver values. DL2 Vein in 2024 sent a one-tonne experimental batch from this vein returning 978 g/t silver, alongside 57 g/t gold and 3.23% copper. There are some very significant mineralization going on in the upper zones Auryn is currently mining. Where is this supergene enrichment located? You’ve commented on this stuff in the past. If you don’t mind, can you go over it again? Much appreciated…

EZ

Dentman · January 26, 2026, 5:04pm

Totally agree J. Also if we do get the shares, what’s to become of my large loss on mdmn? I would hope AUMC shares would not be treated as a taxable dividend and the inability to write off mdmn loss

Baldy · January 26, 2026, 5:09pm

I hope for your sake that AUMC earnings per share will be a LOT higher than PPX. This being said, if PPX decided to pursue the same, 100 for 1, reverse split, resulting in 8 million shares outstanding, the story would be a little different. Amazing what a simple corporate action can do.

Baldy · January 26, 2026, 5:10pm

Your cost basis in MDMN will be carried over to your shares in AUMC (on an adjusted basis).

mrbubba · January 26, 2026, 5:10pm

EZ, I have an idea. Let’s do an experiment.

Maybe BE can educate us on how supergene enrichment works, his experience with it, and how it applies to our properties.

I’ll be waiting.

mrbubba · January 26, 2026, 5:16pm

Yeah, playing that game is the ONLY way you can accomplish that - I wouldn’t be surprised.

BTW, MC could do a 100:1 reverse split too to match it - then where would you be?

easymillion · January 26, 2026, 5:32pm

Sorry mrbubba, as far as I can tell, BE only works from valuations based on thousands of drill hole results and leaves the analysis to other more experienced financial experts. I don’t think he is very qualified to speak about some of that kind of stuff I was asking about. Actually, neither am I, so that’s why I was asking brecciaboy to explain it. From what little I think I know, where there is stuff like chalcopyrite or chalcocite at the near-surface, supergene copper formation undergoes a geochemical process where primary (hypogene) sulfide minerals are oxidized, leached, and reprecipitated, often increasing copper grades by two to ten times. Deeper down it’s lower grade, but lots of it.

EZ

Baldy · January 26, 2026, 5:33pm

Bubba. I’m not understanding your point. AUMC went through a 100 for 1 stock split. If they had not, there would have been 7 billion shares outstanding. PPX has never excercised a split. I believe we covered this already but I know how some of these topics can be confusing. Your constant comparisons to PPX, as odd (insecure?) as they may be, aren’t on an apples to apples basis unless you “unwind” previous corporate actions. As discussed, its a bit bizaree to celebrate a “tight float” after a reverse split. The accomplishment is no further dilution post the split but, also discussed, there really hasn’t been any real investment over the past decade with the exception of recent construction of the plant. One advantage of avoiding the need to define a resource!

As to my knowledge of supergene enrichments I’ve been pretty transparent that I’m NOT a technical investor. Nor do I pretend to be a closet geo. I’ve partnered with many technical investors. I focus more on the financials.I’ve NEVER challenged the value of the mountain only some of the ridiculous claims (grades based on historical results, etc.). When I invest I’m more focused on, trying, to generate a return vs. participate in a “story.” Stories are fun, especially in mining, but sticking with financials and market based variables, comps, and valuations have allowed me to avoid being stuck in too many snoozer let alone delisted stocks.

Bubba, while I’ve enjoyed the back and forth I’m going to let you enjoy the rest of your day before your head explodes.

Jimmyp1127 · January 26, 2026, 5:41pm

You’re not invested here but you sure seem to be enjoying this story. Enjoying it so much that you feel the need to post incessantly on a stock forum for a stock you do not own. Thats an odd habit.

mrbubba · January 26, 2026, 5:49pm

We’re talking about things the way they are NOW - you tend to live in the PAST …… on more than one front. Let’s try to focus on the present ……. and be honest. From here going forward, AUMC is looking relatively good, and MUCH better than a company that has 900M+ shares outstanding. BTW, appreciate the honesty about you not knowing much about geo - probably a good move on your part, and it’s good for people HERE to know who does. You can call him an armchair geo if you wish, but how would a person who admittedly knows not much about geo be in a position to judge whether somebody else does not? Please. Maybe you could bring some of the technical (geo) people from PPX to this board to inform us? Introduce them, really, I’m sure the good, truth-seeking people of this community would appreciate that.