The rest of 2026 to come…
EVERYONE HAVE A SAFE 4th OF JULY! Celebrating 250 years of freedom.
EM
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Expected a lot more … Oh Well . Happy 4th to those US citizens who still believe in democracy.
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If it wasn’t for Mike Gold, the shareholders that come to this site wouldn’t have known that the mine was closed down. Very irresponsible that we still have not heard from MC as to why this happened and what is to come next. It’s now July.
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While its important to point out that AUMC, as a “stinky pinky,” has zero legal obligation to disclose material events, its pretty amazing that the company has been dead slient. Not to mention they are very late in issuing a normal quarterly update, following January’s PR when they were guiding towards imminent commissioning/production (after posting pictures of the plant running and the receipt of critical permits). Candidly, I’m a bit suprised that the AUMC BOD, with some fairly legit members, hasn’t insisted on more timely disclosure.
AUMC’s actions further highlight what has been discussed on this board, AUMC is simply not investable. The stock doesn’t trade, there’s no price discovery (one large seller would knock the price back into the pennies), and there’s zero visibility into the state of operations, mine plan, financials, and key “partnerships” (debt financing, service agreements, etc). An eventual uplisting could address many of these issues but they seem to be going in the oppositie direction, further into the depths of penny stock depravity.
The good news: AUMC’s share price has held up remarkably well during a painful pullback in the precious metals sector. This being said, it would be challenging to construct an investment thesis supporting a $120M market cap (using real world metrics and comps). As long as there’s no volume, MC could theoretically avoid a large drawdown if he’s able to work through these permitting/community related issues over the next few weeks. Unfortunately, the additional damage to the company’s credibility in being transparent and keeping investors informed is going to leave a lasting mark.
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Another 90 days…
| 07/06/2026 | Minute Order (7:00 AM) (Judicial Officer Delaney, Kathleen E.) | Minute Order Continuing Status Check | ||
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| Minutes |
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| 07/06/2026 7:00 AM |
| - | The Court having continued the Status Check: Appointment of Receiver by Minute Order dated May 7, 2026; Petitioner thereafter having filed a status report on June 17, 2026, which identifies the actions of the Receiver taken to date and requests an additional ninety (90) days to complete the motion practice necessary to properly advance the matter, and said good cause appearing, COURT ORDERED the Status Check: Appointment of Receiver is hereby VACATED and the matter reset for Status Check: State of Receivership, giving the requested additional ninety (90) days, to Tuesday, October 6, 2026 at 9:00 a.m. Petitioner may submit a Status Report in lieu of appearance at the continued status check, as long as received at least three (3) judicial days prior to the hearing date. CLERK S NOTE: Copy of this Minute Order served on all counsel and pro se parties through the Court s electronic filing system. / aw 7/6/2026 |
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We can talk about the Lassonde curve in the meantime.
Thankfully, I doubt we will have to suffer through any posts on the Lassonde Curve, price targets, predicitions of increasing capacity, grand deals, nor imminent mid-tier multi billion dollar market cap stauts, any time soon. Its takes a very dark day to silence the vocal minority but even they seem to be muzzled by the mere fact that a month has passed since the site has been closed without any update from the fearless leader. Remember, the guy who always delivers even though he headfaked 5 years of production with shipments to Enami that were never accounted for, with a pivot to building their own plant (with seemingly ridiculous rationale that was nevertheles embraced by the “flock”). The guy who justified massive dilution by claiming AUMC was fully funded through production which was supposed to happen a decade ago (they started moving rock on the Caren and then “poof” and pivot). The guy who allowed MDMN to fall into delinquent filing and cease trading even though 95%+ of investors exposure was too be trapped in an illiquid vehicle that is now in the vortex of receivership with no updates. Yes, it appears as though even the vocal minority has a tipping point where the spin becomes to difficult to muster. Embrace the silence.
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Baldy is spot on here. I really hate admitting that, but he is.
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John a thought that crossed my mind. $15 million is no chump change. Where did MC come up with that amount of money? Makes you wonder.
He’s a relatively successful guy. Especially in Peruvian terms. His Columbia asset has been generating decent cash flow. He had other businesses. We can only assume, but really have no idea, that this money is coming from him individually vs a personal loan or third party.
To be clear, I like and respect MC. He’s a very grounded, personable man with no ego. I’m not poking him with my comments but rather the peanut gallery who have , in all of their creativity and spare time, created an image of some sort of savior rainmaker with a grand plan. Trying to compare the AUMC journey to the stages of the Lassonde Curve is simply a false eqiuvalence. MC will be the first to admit that there have been a long series of mistakes and challenges. He’ll admit that he was actively trying to sell shares to finance the plant (much to the chagrin of the false narrative incessantly argued here about promises to stay at 70M).
You still have posters referencing comments he made in Vegas TEN years ago like they still have any relevancy, Clearly AUMC was not fully financed all of those years ago and the issues they experienced at Caren (transport costs) happened again at the ADL. My main criticism is that he flirted with Enami all of those years when building a plant, based on issues at Caren, was an obvious choice. To suddenly claim that a decision was made b/c the ore was refractory or the terms on a small sample were too low is clearly disingenuous.
I don’t fault him for cramming down CDCH holders but I do find it amazing that those same shareholders celebrate being crammed, I do fault him for delisting MDMN as being a bit of a slap in the face after already taking most of the assets for next to zero upfront capital. But again, certain shareholders celebrated the move as being “strategic” so there was no backlash nor repercussions to what turned out to be very damaging,
Either way, MC deserves credit for putting up his or whoever’s capital to get this project going. I’ll reserve judgment on how a plant began construction in the absence of certain permits until we finally receive adequate disclosure. The lack of proper disclosure during this pivotal period is simply inexplicable,
Thanks for keeping us posted on the legal front, Mike. Even though this informs us of yet another delay. I recall you mentioned the mining operations are still going, just no ore is going thru the processing plant until this is resolved. Are the miners still working, expanding the vein(s)?
For most of us here, not all, none of this matters one iota if our AUMC shares are not safely delivered. The amount of anxiety that we have to endure on that front alone is not very fair. The silence on that front is causing me anxiety. Its hard to believe that anything but a successful outcome will take place, but you never know with this investment.
Who knows what kind of bogus claims have to be dealt with before a distribution is allowed. Can anyone expand on what the risks are here? There shouldnt be more than a couple million dollars at most of claims, correct?
FWIW, I think their last annual report showed $387,000 in debts.
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- AUMC announced receiving the permits on X months ago.
- the environmental issues have absolutely nothing to do with a carbon footprint.
- the entire operation is shut down NOT just the bunk room
- Mike’s post is in relation to the delays of receivership of MDMN. It has nothing to do with AUMC mining operations.
- Football (futbol) in Europe is soccer. Soccer in the US is Soccer. And football in the US in football.
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I have no information whether mining is continuing or the flotation plant is operating. Only that the local government has no authority to halt those operations. Also, their various environmental allegations likely have no merit.
It is clear that Auryn has elected to keep as low a profile as possible until necessary permits are obtained and any environmental legal challenges are properly addressed.
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Fair enough. Nor do I. I think its safe to assume that the floatation plant is shut down as they don’t have anywhere to place the processed rock (as the tailings seem to be one of the issues). They could, theoretically still be mining rock but a) workers would need to be transported up each day and b) if they are trying to keep a low profile, I would argue that blasting rock is pretty “loud”.
I have not attempted to reach MC but I would be interested in hearing your take on why the company hasn’t provided any information to investors as of 35 days since "closure.
To be clear, the project I’m involved with in Peru is going through a very similar issue with the local community so I do empathize. This is not uncommon in South America. My company had ALL of the necessary permit in hand before they even broke ground. Nonetheless, the local communities can create all sorts of issues. It realy doesn’t matter if they have the authority to halt operations. At the end of the day, you need to have the locals in support of the project. Without support there are all kinds of issues/challenges in day to day operations (use your imagination) and it becomes almost impossible to scale down the road.
Chile is a bit easier to manage vs. Peru but its generally the same headache. In the case of Peru, we built a school a medical clinic, and agreed to hire a disproportinate amount of the mine workers from the local communities.
I would agree that its best route to negotiate behind the scenes before fighting it out in the public domain.
July 2026 – Shareholder Update
Jul 10, 2026
AURYN Mining Corporation Shareholder Update
AURYN Mining Corporation (OTC: AUMC) is committed to keeping shareholders informed about our progress and strategic priorities. As we enter Q3 2026, we continue to advance the Fortuna Project through commissioning, mine development, permitting, and infrastructure improvements. The following summarizes recent accomplishments and the path toward commercial operations.
ACCOMPLISHMENTS
Permitting
The Fortuna Project’s original 1,000-tonne-per-month authorization, based on the sublevel stoping method, was updated to a new permit at the same tonnage using the cut-and-fill method. Following the submission of responses to regulatory observations, the permit was approved on April 29, 2026.
We also submitted an application on December 23, 2025, to increase Fortuna’s authorized mining capacity to 3,000 tonnes per month. We addressed two rounds of regulatory observations during March and May 2026. Based on the current review process, approval is anticipated in Q3 2026.
The Fortuna Tailings Storage Facility permit was approved on January 29, 2026. Construction commenced on January 4, 2026, and all major components were completed during April 2026.
In addition, our 4,950-tonne-per-month flotation processing plant received its operating approval on February 20, 2026.
Processing Plant
Construction of the flotation processing plant was substantially completed in late March 2026. Since then, commissioning activities have focused on completing electrical systems, piping, water management infrastructure, and equipment optimization.
Mechanical and operational testing is progressing well, with several process improvements already implemented. The plant is in the commissioning phase, with adjustments to optimize material flow, equipment performance, and metallurgical recovery ahead of sustained operations.
Mine Development
Mining operations continue under the approved 1,000-tonne-per-month permit.
Development activities have focused on rehabilitation, ground support, ventilation improvements, and preparation of production areas for safe, efficient mining. Based on detailed structural-geology evaluations, additional reinforcement has been installed in selected access ramps and production drifts to enhance long-term stability.
Metallurgical sampling continues, although laboratory turnaround times throughout Chile remain longer than normal due to industry-wide demand. We will release results as sufficient data becomes available.
Access Road Improvements
During June 2026, we awarded a contract for the upgrade of approximately 8 kilometers of the Fortuna access road.
The project includes roadway widening, foundation improvements, compaction, drainage enhancements, and final grading to improve year-round access and operational reliability. Completion is expected by the end of July 2026.
Employees
We currently employ 59 personnel supporting mine operations, plant commissioning, project development, environmental management, and corporate activities.
Community and Regulatory Engagement
We have received inquiries and complaints from various entities — including the municipalities of Curacaví and Lampa — regarding certain project activities such as the camp, tailings facility, and land use. The relevant authorities have conducted inspections, and we continue to work proactively with municipal representatives and regulatory agencies to address questions, provide clarifications, and implement appropriate solutions. We remain committed to regulatory compliance and maintaining positive relationships with local communities.
OUTLOOK
Our primary objective over the coming months is to complete commissioning activities, continue ramp-up of mining operations, and transition toward stable, sustainable production.
Key priorities include:
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Completion of process plant commissioning and performance optimization.
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Continued development of underground mining areas to support production requirements.
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Receipt of the 3,000-tonne-per-month mining authorization.
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Completion of access road improvements.
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Ongoing optimization of operational efficiency, safety, and environmental performance.
Despite the normal challenges associated with commissioning a new underground mining operation and process plant, we have made significant progress across all major project areas. We remain focused on safely ramping up operations, achieving stable production, and creating long-term value for shareholders.
STAY CONNECTED
For further details and to receive updates by email, please visit our website and subscribe to 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.
CONTACT INFORMATION
Auryn Mining Corporation
ir@aurynminingcorp.com
Follow us on Twitter
@aurynmining
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I guess another tactic would be to charaterize the mayor claiming to shut down the mine, documented with a video, as normal “inquiries and complaints”. All is well, business, as usual, queue the vocal minorty and new upgraded price targets. Although there are no details on the actually commissioning (volume, grades, cash flows) nor explanation as to the delays, it does appear, if you believe the update, that they are continuing to mine at some undeterminable pace and improving the roads is an important step. Based on their “wording”, it reads as though there isn’t as much mining vs. efforts to on “rehabilittion and improvements”. This may be consistent with MGold’s inference of keeping a low profile (Care & Mainetance vs. mining)
??? It appears that the flotation plant has had an upgrade to its capacity? Previously, 100 tons per day was the stated capacity.
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