You’re right John, I shouldn’t have used AURYN’s total value. It should have been $270,960 (5% of AURYN) / 296,333,350 sh = $.00091 (worth per CDCH share)
Sorry about that !
If that is true, and CDCH historically trades at about 2X of MDMN, then shouldn’t MDMN be trading at $0.00045? Someone’s trying to fit a round peg in a square hole! Determining value is not solved by simple math as has been pointed out for years.
As Baldy already stated: “A $5M value for Auryn is a bit ridiculous and the market is clearly discounting the same.” I think $270,960 for Cerro shares is equally erroneous as a basis for value, which the market is also discounting. Where does the time value part of the equation fit in? All value is directly tied to the current assumed value of AURYN, which is largely unknown. There is no “simple math” to determine current worth of a CDCH share. It will only start to be revealed once AURYN becomes publicly traded.
Q3 Report: https://www.otcmarkets.com/financialReportViewer?symbol=CDCH&id=182767
Closing with Auryn and change of control is complete asof Nov 10
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Cerro’s Financial Statements are missing. In the quartely it states:
Item 5. Financial Statements The Company’s financials for the period ending September30, 2017are incorporated by reference and havebeen posted on OTCIQ.com
But OTCIQ.com is for companys. Has anyone been able to find the financial statements ?
Rod
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Thanks Wiz … it’s been a long time coming!
Hoping for some progress reports from the new management team.
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No posts here at all? Really??? Guess I’ll check the MDMN forum…
Billion…7 Billlion…WTF
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AURYN Sells Mining Claims to Cerro Dorado, Inc.
AURYN Mining Chile SpA (AURYN) is a private company that owns and controls over 10,500 hectares of mining claims in the Altos de Lipangue mining district. Two of our shareholders are public companies.
Medinah Minerals, Inc. (OTCMKTS: MDMN) (Medinah) owns 23.559% of AURYN.
Cerro Dorado, Inc. (OTCMKTS: CDCH) (Cerro) owns 5% of AURYN.
To provide liquidity to these companies and give their shareholders direct ownership in the underlying asset, AURYN has sold its mining claims to Cerro for 6,650,000,000 common shares of Cerro and cancellation of Cerro’s AURYN shares. The remaining AURYN shareholders now own 95% of the issued and outstanding shares of Cerro. These shares have a one-year restriction on them. AURYN will work with its shareholders to convert their AURYN stock to CDCH stock.
As the majority owner of Cerro, we look forward to working with current Cerro management. This includes the following:
Creating a management team and Board of Directors suitable for an exploration company intent on becoming a junior and major mining company.
Launching a massive exploration program on the Altos de Lipangue mining district including entering JV agreements with companies that have the specific expertise necessary for exploring and mining the variety of targets we believe we have in the district.
Focusing our resources on becoming an active gold producer by reopening the Fortuna gold mine and actively exploring and mining the gold veins found in the Larissa tunnel.
Subject to regulatory approval, consolidating the capital structure, changing the name of the company, and moving to a higher exchange or tier on the OTC.
Along with the Medinah shareholders, AURYN was also impacted by Price’s misrepresentations. AURYN, could have abandoned the Medinah and Cerro shareholders, but chose to treat everyone fairly, the same way we hope to be treated. With the best efforts and support of Gary Goodin, Italo Volante, Raul del Solar, Kevin Tupper, and friends of the companies, we now finally turn the page on the old and look forward to a very bright future for those who have invested in the Altos de Lipangue mining district.
Merry Christmas and Happy New Year.
Maurizio Cordova
Executive Chairman
AURYN Mining Chile SpA
http://aurynmining.com/auryn-sells-mining-claims-cerro-dorado-inc/
Note: None of this is reflected on the OTC website!
Cerro had 300M owning 5% of Auryn / ADL
Now there is approx. 7B shares owning 100% of the ADL
They explicitly mention “consolidation of the capital structure”, that is, there will be a reduction in the number of outstanding shares once all the dust clears
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Once we get converted to CDCH, will our stock be restriced?
The restriction can’t disappear just because Auryn hands shares to someone else. It wouldn’t be shocking though, imo, if they wait till the restriction is gone (i.e. 1 year) until they do the distribution. If so, in the meantime, MDMN will keep trading on the basis of its CDCH ownership.
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Should firm up the price of CDCH. I am not good with math, does this mean the current shareholders of CDCH got a premium for their current holdings or they still at par with everyone?
Everyone was treated exactly the same.
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Thanks, Kevin. You are my hero in all this, really. Thank you.
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See my post on MDMN Dec 15, 6:48 PM
So, based on closing price of CDCH today, does it mean we are now valuing the ADL under AURYN’s (new CDCH management) management at about $56M?
I am just asking somebody to confirm whether the smaller share structure of CDCH vs the much larger share structure of MDMN will be relative for the future share price of CDCH ?
At the October 1, 2016, Las Vegas shareholders meeting, after the new Auryn/Medinah management team detailed what the previous scoundrels had done, we were told to hope for the best but to expect it to take a minimum of 18-24 months to sort through all the resulting legal and financial entanglements — and even then we shareholders all might easily wind up with nothing.
Fourteen and a half months later, we have this applause-filled moment.
I am too out-of-my-league to understand everything presented here today, but at least for speed of execution I’d have to say it looks like the whole Auryn/Medinah management team has earned an A-plus-plus.
— madmen (Brad Newsham)
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To put it very simply, everything has been consolidated into a publicly traded entity enabling MDMN, CDCH and Auryn shareholders to move forward together, finally closing the chapter on JJ, LP, and all other riff raff and various unpleasantries from our collective past. I expect that at some point we’ll even have a new name, hopefully having no resemblance whatsoever to the names “Cerro Dorado” or “Medinah”!
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