Wizard, you seemed to be positive on these stocks when you were at the trade show. What changed?
Anything yet?
While the vote is a foregone conclusion, is anyone willing / able to attend to observe / take notes on the following part of the meeting?
Depending on what Auryn / MDMN release after this bit of travel some / most of this may be redundant, but perhaps not.
They should have a call in number, free conference calling https://www.freeconferencecalling.com/ is free, can handle up to 1,000 participants, has a Q&A feature, and provides a recording.
Do the Days still own all of the preferred stock?
They could have sold some or all leaving others to vote the controlling shares.
The Cerro announcement says those shares belong to 2 shareholders of record. So it is quite likely it is the Days
The 4 additional directors ānominatedā are a foregone conclusion, since the Days have obviously been handed the La Serena/Alto Adigio Project and have the necessary votes to pass all agenda items. There will not be any real vote taking place. Is anyone here considering participating in the rights offering? For any shareholders planning to attend the ASM on Monday, what questions do you intend to ask? Please post questions you may have if you are currently a shareholder. Is $1.75 M really sufficient to fully fund the project envisioned and provide operating capital until the 5% equity ownership in AURYN is monetized? Was a Spanish translation of the contract transferring ownership of the Lonco Millarepu and Fortuna claims to AMC ever made public?
Nothing is written in stone until the upcoming shareholder meeting but I will say that Iām very happy with where I believe things are headed. Les and JJ had absolutely nothing to do with this proposed transaction and BOD. I believe there is considerable upside for projects beyond the one cited in the update, run by a very competent BOD.
George is a known, respected operator who is more than capable of advancing this company to support a respectable valuation. Consider this move more along the lines of a reverse merger with La Serena and the BOD as the asset and CDCH as the shell. With the rights offering/note and a new BOD there will obviously be dilution. However, donāt expect this dilution to effect the 5% of AMC that CDCH shareholders currently own. Iām not going into detail on this point and will let things unfold in a public format but, imagine a non-dilutive stake in AMC out of reach of the grubby hands of the likes of JJ and Les.
Iāll sleep better a night when MDMN reaches a similar state.CDCH is, IMO, the better play until that day.
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Non-dilutive? How can that be? It may be out of JJ and LPās hands. But CDCH owns the 5% and it wonāt be set aside for a certain group of existing shareholders. The āreverse mergerā as you call it costs shareholders some of the value of the 5%. The question remains is the new team capable of using their cut in it to enhance shareholder equity? Good management can do that. We havenāt seen that in these parts. Iām glad you think this group will be able to.
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I fully understand how RTOs work. Iāll let my comments stand until after the SHM.
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This is absolutely right and straight forward.[quote=āBaldy, post:260, topic:928ā]
With the rights offering/note and a new BOD there will obviously be dilution.
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Dilution does cost present shareholders a portion of their 5% AMC equity interest, but itās much better than the past five years as a corporation thatās gone dark and been pilaged by the likes of JJ and Les.
The only way it could be non-dilutive is to create a new class of shares divied to the existing shareholders as of a certain record date, with the proceeds from the AMC 5%. New shareholders after that, along with existing shareholders will participated in the new projectās economics.
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If they created a DIVY to shareholder of such date with a future date for new shareholders to buy in this stock would rocket up as well. And only shareholders of such date would receive the divy moving forward
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Baldy, I sent you a PM with my email address yesterday. I have been away from the CDCH discussion and would appreciate a layman version of what is transpiring. I am a shareholder and have been since 2008. Never sold a share and would love to have an idea of where we are today and where we think we are headed. If you would rather send it to my personal email check your PM log.
Thanks in advance.
Baldy, last week you said that your requested a call from Day. Were yesterdayās comments based on that phone call?
Wow. Stock is down almost 50% on a 2250 share trade worth a whopping $18
Wow. What will make it pop again. Calling out for our BOD. Anybody out there!
Another $18 trade ought to do the trick!!
Up 90%!!!