Yes, we’ve been through this exercise a few times. AURYN has 100M shares of which Cerro has 5%, or 5,000,000 of the shares that formed the company (5% to Cerro and 25% to MDMN). 100M shares of AURYN is not necessarily the number of shares that AURYN issues to go public if/when the F-1 is approved and AURYN does go public. The implied value, correctly or incorrectly, at the time AURYN was formed was roughly equivalent to the $100M option originally offered for the ALTO, before all sh*t hit the fan. Using that valuation of $100M for AURYN (granted - it may take 2-3 years for AURYN to have that valuation - it could be more, it could be less), CDCH is roughly valued at $5M / (300M shares) = $0.0167 per share. No one knows if/when AURYN will reach that $100M valuation, but they are certainly making an effort to get there, and beyond. See my previous post on how the F-1 might be structured to take advantage of the 2-3 year time frame):
Continuing the discussion from Medinah Minerals (MDMN) - 2017 Q3 General Discussion: