Not sure, if he is still laughing anymore.
Les certainly masterminded a terrible scam against us all but hopefully he will eventually be somehow , someday brought to justice for his crimes and he loses everything. Hopefully the fraudulently issued shares issue is being resolved or even partly resolved.
I am afraid Les will be in his grave before the wheels of justice slowly grind him into the ground.
The fact no movement has occurred in any of the civil cases for a few months would indicate, IMO, attempts at a settlement are actively occurring. Generally, a judge will allow the case to float along for a while if the parties both indicate they are actively attempting settlement and they are making progress. This conserves judicial resources and saves the parties money. Only if a settlement fails will a judge actively push the case forward. If the news was not good from a settlement prospective, I feel we would see it in the civil cases, with much increased motions, filings, etc. from both sides. Especially since MDMN’s last motion sought to remove Les’ attonrey due to a conflict of interest. IMO, the silence speaks volumes right now.
IMO, at this point, considering the info we have, and IMO the greater info MDMN has, I feel they are trying to balance the cost of litigation versus the amount of actual recovery from Les versus Auryn’s steps to go public. I feel MDMN does not want to be an anchor which drags at Auryn due to its poor reputation and active litigation. Smarter posters than me here have stated a strong case as to why MDMN may just fold up and pass on its Auryn shares to MDMN shareholders. I feel MDMN is going in this direction and it cannot happen until all the civil cases are settled and MDMN figures out how to clean up its share structure.
Since it has been roughly 3 months since the last legal actions on the case, hopefully we should hear something soon. IMO it won’t be the “pound of flesh” we all feel we should get from Les, but I feel anything at this point which closes the past improprieties and sets up MDMN and Auryn for future success would acceptable. I’d rather have Les gone, my portion of MDMN’s Auryn shares soon to IPO, than a worthless judgment against Les for 500 million, a payout to Auryn due in a few years, and my MDMN shares at .005 cents.
I hold shares in my brokerage account and have since 2007. I called Raymond James today and they said that they have no information regarding the meeting or any voting of my shares. Thoughts?
I think UsualSuspect has kept us informed what has been going on as well as anyone on this thread.[quote=“UsualSuspect, post:549, topic:928”]
Be aware that they are not soliciting your votes.
[/quote]Go back and read most of the comments posted since the last shareholder meeting and you will know what’s been going on. My thoughts are there can be no dividends issued to any of the current beneficial shareholders (those with street shares) at this time as long as the company remains non-reporting. From the OTC website:
The proxy vote form does not even document the number of shares being voted in the proxy.
CHG had this pegged correctly a year ago, IMO:
Why are you even talking dividends right now! Anything that happens in a way to benefit shareholders would benefit all shareholders, all shareholders are shareholders of record. While you maybe right that no dividends would be divided as long as the company is non reporting, that is strictly a company decision. The board may make the decision to pay off debt and straighten out Thier paperwork and become a reporting company again but also any cash that might come their way or conversion of share’s would/could/should be divided equally among all shareholders… Your brokerage accountant might not think it’s worth the time or effort depending on the amount but they are bound to the fact they must deliver. This could also cost you for the transaction, thus at that time you would have to decide if it’s worth it.
You are perhaps right, if all unfolds as it has generally been described. A past history of apples and oranges is somewhat confusing. We now have new players putting our fruit in the bag, so to speak. I’m willing to wait and see which fruit we purchased and is being put in our bag. [quote=“Baldy, post:298, topic:928”]
With MDMN Gold, insiders in MDMN collaborated with insiders of AMNP (Gary, Vital) to fleece holders of the private certs. A prospectus for the share swap was posted (without any disclosure) with a 30 day window for MDMN Gold shareholders to fill out paperwork and follow a number of steps that would have been impossible to complete within said 30 day window (even if you were lucky enough to stumble upon the prospectus when it was issued).
This is a private “spinoff” occurring in the light of day. Not a merger where one party is incentivized or able to take/steal other people’s interest. Every shareholder of CDCH on record will receive their proportionate ownership in the private company.
This is the only line item that is relevant to CDCH. I think it’s fairly clear that Cerro will revert to a simple holder of 5% of AMC. Nothing more or less but with a little dilution for whoever will be replacing the existing BOD. Seems like this is the inevitable direction we are going.
With 273M shares at .003 we are trading at a $820k Market Cap…This would be the equivalent of each percentage of AMC being worth $164K or AMC’s private value of $16.4M. Based on what we know today (not a lot), I would assign a $15-$30M valuation to AMC today but there is a TON of upside if they find what we all hope and produce what we believe is possible.
Based on these numbers could CDCH be a 10 bagger from here? It’s not hard to see AMC’s being worth $164M at some point down the road. Can CDCH get back to 10 cents? That would require a $500M valuation for AMC. Also possible but the results would need to be phenomenal. We have no indication of how this will play out and, unlike many others, I still believe there is significant geo risk. If there wasn’t, there wouldn’t be the significant upside potential.
As a point of reference MDMN is trading at $600k per 1% of AMC or a ($60M private valuation). There is clearly an arbitrage opportunity if/when visibility on CDCH improves.
Medinah Minerals (MDMN) - 2017 Q2 General Discussion
Wanted to post update here as well…
New info out on Auryn’s website
A couple things I noted, other than a lack of detail, is that CDCH is now essentially a holding company under the management control of AHC via the majority voting rights being transferred to AURYN HOLDING COMPANY. There was no dividend date declaration. This is a good thing as there had been no NOBO/OBO list ordered necessary to identify current shareholders. Cerro is presently a “pure” play to receive the 5% equity interest in the future of AURYN. AMC is still on a path to become a free-trading company which greatly simplifies this transfer to CDCH shareholders. I look forward to AURYN having an F-1 application accepted by the U.S. Securities and Exchange Commission and becoming a fully reporting company.
I’m particularly please with this sentence in the update:
“Furthermore, Cerro appointed Italo Volante Gomez, Raul Del Solar, Kevin
Tupper and Gary Goodin as directors, and accepted the resignations of
Cerro’s present directors subject to completion of the contract with
Very very good, and Kevin will be onboard to, nice.
Thanks for posting GCC… I’m pleased with this.
Happy to pass along positive info, let’s just hope it keeps flowing
Wow. Very awesome news. Thanks to all who had a bug in cdch managements ears and helped get us this outcome. It was looking bleak there for a minute.
What are the chances this offer is NOT accepted after DD is completed?
(Hopefully very low)
I agree. Maurizio was apparently present at the SH meeting and will be guiding the major investors of AHC (AURYN) as to the details in making a favorable decision. I don’t think Jose Borquez and the other directors fully anticipated that Italo Volante Gomez, Raul Del Solar, Kevin Tupper and Gary Goodin would be the new directors, but then again, they had no leverage as no money had been raised to support the $300K cash call. I don’t think the “former directors” fully understood the strength and value of the equity interest in the ALTO until the meeting. I’m sure Maurizio was able to present the plan to move forward without having to do other outside investments, such as the Andocollo. I was certainly pleasantly surprised to see the full controlling voting shares of CDCH turned over to AHC. I had anticipated only a partial turnover and representation on the BOD. Great work by Kevin and Maurizio, MANY THANKS to all on the AHC team! Perhaps someone who had actually attended the meeting would be kind enough to report their impressions of the meeting to the thread, I was not present this year.