The Mining Play

Cerro/Medinah/Auryn- 2018 Q2 General Discussion ⛰


#328

The original 2014 purchase agreement between MDMN and AMC (the one that included a $100M purchase option price), section 2.2, included a phrase that said any claims acquired by Auryn within 5 km of any point of the periphery of the MDMN claims would be considered part of that purchase option agreement.

Of course that agreement was highly modified / replaced later to facilitate the inclusion of NUOCO claims and the LDMC claims and the Cerro Fortuna claim. So it seems very uncertain that this contractural phrase has any bearing on the present situation. But I would say that it is my impression that some type of phrase such as this is a fairly typical legal language to include in this type of contract in the mining industry.


#329

If the 5 KM phrase is common in such mining contracts, then most likely it made it into the contract as amended for the Nuoco claims. Of course, once again, we are uninformed. Since we only have 7,000 shareholders, it seems our guys could at least give US the real picture of what’s going on. Like I said, I have much more confidence in the mountain itself than I have in the ability of human beings to monetize it.


#330

" I wonder" being the key phrase. We have no idea at this point what we own what we owe and where we stand. Making/adding to ones investment without knowing these basic variables is insane. Sure it feels great buying a million shares for $3K…It probably felt just as good buying a million shares of FFGO for $2k until it stopped trading. We are no operating in a normal market environment.


#331

Better have someone else do your taxes! :wink:

Under the tax code, investors can write off any amount of losses against their gains. Thus, if you lose $50,000 on one stock and make $50,000 on another, these gains and losses will offset each other. You won’t owe any taxes on your $50,000 in gains because of your equally sized losses.
https://www.fool.com/knowledge-center/how-much-to-write-off-on-your-taxes-with-a-loss-in.aspx

Since IRA accounts and ROTH accounts can’t write off losses, this gem of a smart move is not available to many current shareholders. I remain optimistic that AURYN did not go this far to lose money for the majority shareholders (and very hopefully the minority shareholders). AHC and those insiders who bought before the fraudulent share count was discovered still hold their shares. Management wasn’t allowed to buy or sell those shares once MDMN management filed counterclaims to the lawsuits. I don’t know any minority shareholders that are pleased with the lack of information/news, but strongly believe the silence is strategic, at least until CDCH shares are ready to become unrestricted.

The Silence

:roll_eyes:


#332

John, what claims did the three parties actually own before any agreement? How much was known about each one? Who was the one with any money to do any exploration?

Lastly, what on earth were you thinking investing in this? This is your profession. Some of us have an excuse; we were greedy idiots. :slight_smile: :man_facepalming:


#333

I just instinctively looked for someplace to bury my head when I read that. :frowning:


#334

I would not consider some here as"greedy idiots." I am offended by the notion. Investing in stocks, gambling or even starting your own business should not be categorized as being greedy. Greedy is expecting more and more of something without hard work and commitment. Their are many here who fall into both categories without being labeled as greedy. Yourself and John included.


#335

Greed is when a company members of board lies to you and cheats you out of your hard earned money.


#336

Me too. Thankfully, both of us have a broader view of life. The paper losses we’ve suffered to date would ruin a lot of people. It’s just made us stronger.

Why should you be offended? I was referring to myself and whoever else self-identifies with the description. It read “some of us”, not “all of us.” Clearly, not meant for you. Sorry if I gave any indication it was.

I can’t think of many other terms to describe my experience and actions. Watching a 500% gain turn into a 90% loss is idiotic, especially when I knew management was untrustworthy and I knew little about mining and I had most of my money invested here. Having so much invested in one company so I could get a HUGE score and not taking 500% because I thought 1000% was possible is greed. Thus a greedy idiot.

Growth is about making mistakes, learning lessons, and moving on to a better way. I’m no longer a greedy idiot.

Worse than that. It’s fraud.


#337

It’s been a long time since M was .19 and C was I think .27 at its high, but I do remember one day marveling at a multi-million, (and not 2M but more like 6M+), profit in my portfolio and thinking I couldn’t wait for them to be at a buck. If that’s not greed and idiocy, then it’s more along the lines of utterly moronic and brain dead. Guilty as charged. At the very least I should have gotten my basis out on the way up. These were the best lessons in investing I ever had. Hopefully they give me the opportunity to apply the lessons they taught. At least now I can smile and not feel like I’m gonna lose my din din when I tell the story! :slight_smile:


#338

This is not directly on topic, but it is relative and interesting and I think very important for everyone to be aware of what is going on with oil in the world. http://energyskeptic.com/2018/steve-st-angelo-the-global-oil-gas-industry-is-cannibalizing-itself-to-stay-alive/


#339

Thanks TR,
That article points to one of the reasons it was time to open up ANWR.
OT:

NATURAL RESOURCES
Opening less than 3% of the Arctic National Wildlife Refuge (ANWR) in Alaska for responsible energy production could create thousands of jobs, generate billions in new revenue and help reduce our dependence on foreign sources of oil.
Small Area = Big Energy Potential
• The North Slope of ANWR, known as “Area 1002”, was specifically set aside by Congress and President Carter in 1980 for oil and natural development. This area is not designated as Wilderness.
• A plan developing 500,000 acres—less than three percent of ANWR’s acreage would provide access to the majority of ANWR’s resources.

Supplying America’s Families and Businesses with American Energy
• According to U.S. Geological Survey estimates, the North Slope contains an estimated 10.4 billion barrels of oil.
• This is more than the known oil reserves of entire countries that the U.S. currently imports oil from, including: Mexico, Angola, Azerbaijan, Norway, India, Indonesia, Malaysia, Egypt, Australia and New Zealand, Turkmenistan, and Uzbekistan.
• At peak production, ANWR could supply up to 1.45 million barrels of oil per day.
• This is more than the U.S. imports from Saudi Arabia every day.
• Alternatively, 1.45 million barrels of oil per day is over one quarter of what the U.S. imports from OPEC countries each year.

https://naturalresources.house.gov/anwr/

and:

Based on the old studies, the United States Geological Survey has estimated that the 1002 area contains from 5 to 16 billion barrels of oil. David W. Houseknecht, a senior research geologist with the survey, said the agency was about to re-analyze the data using improved software in hopes of reducing the uncertainty of that estimate. But new studies using modern three-dimensional technology could produce even better estimates.

The Interior Department will have to identify lands in the 1.5 million acres of the refuge along the coastal plain, known as the 1002 area, for leases. Once the department comes up with a list of options, there will be at least one comment period in which the public will have a chance to be heard.

One question mark is whether new seismic studies will be undertaken. Such studies can reveal underground formations that have high oil development potential, and the only ones that were done in the refuge are more than three decades old.

Based on the old studies, the United States Geological Survey has estimated that the 1002 area contains from 5 to 16 billion barrels of oil. David W. Houseknecht, a senior research geologist with the survey, said the agency was about to re-analyze the data using improved software in hopes of reducing the uncertainty of that estimate. But new studies using modern three-dimensional technology could produce even better estimates.
https://www.nytimes.com/2017/12/20/climate/drilling-arctic-anwr.html


#340

a simple update from them isnt out of line here. An explanation of what did or didnt happen can help a long way


#341

Brecciaboy told me to buy it.


#342

Now That’s Funny… I Don’t Care Who You Are :grinning::grinning:


#343

In a way, Baldy’s comment is correct. The very best lies are based on provable “truths”.
The Atlo was based on opinion of several credible professional, international experts with geological and feasibility studies on the properties. Maybe the first was A.C.A Howe.

Then the big spin was started by a seasoned expert (Les Price), and his associates. That provable feasibility study was used in court as the core to get out of the Bermuda Sting and fool the FBI. Les did that for decades, manipulating both greed and hope (sometimes fear-if we got to close)-- common cores of human behavior.

Greed was / is not the only motivation for many shareholders. Over the years I have known many shareholders who’s motivation was hope, myself included.
Hope, that double edged sword. A hard working businessman running a restaurant and hoping to provide education for his kids (twins) and security for the family.
A guy who set up a special nonprofit to take care of others less fortunate. I don’t think his motivation was greed. It was love.
People with cancer, strokes, and heart conditions, incurable autoimmune conditions ( myself included), the caretakers of those with terminal conditions, dementia, strokes…
You can make your own list. Desperate hope for relief.

Situations where money can buy hope, special medical treatments, a better more sustainable life near the end of life. A family taken care of after you are gone.

Sorry for venting, but the idea of greed was too limited to let go.
It is my hope and best wishes that those still in need get some measure of relief, both financial and the knowledge that those who took advantage of their situations will ultimately face justice, both legal and personal.

Peter


#344

A Few Thoughts On My Own Greed

I hoped I might change the whole world for the better with the money I was going to make in MDMN.

And there was a time about, oh, three-four years ago when (given the unsupportable lies that originated with our criminal acquaintances and which were faithfully transmitted by a handful of “smart money” folks on this discussion group) it seemed virtually impossible that I somehow might NOT wind up having somewhere between $2 and $5 million.

It was inevitable, it seemed.

And that felt good! It felt great!

I so terribly enjoyed splashing myself with giant handfuls of the near-certain knowledge that I would soon be able to implement some of my bigger dreams, would soon be able to afford things that have always been out of my price range.

And the experience of having that feeling and having it sustained for such a long period of time was, to me, certainly worth SOMETHING.

I am not sure it was worth the $127,000 I pumped into MDMN and CDCH (my holdings are currently worth $5k), but envisioning myself as financially flush was definitely an experience I thought (and still think) was worth having.

Since the advent of our collective “great enlightenment” (the certain knowledge that whether or not we were part of this board’s kaboomish and forever unapologetic “smart money” or we were one of the great unwashed "greedy idiots” or whether we perhaps fit into some other category, we all, at a minimum, had been flat-out punked) I have come to see that in the course of my entire life so far I have always had Enough. And still, I have always wanted More.

That realization, too, has been worth quite a bit to me.

And I (like to) think that I may have moved along now to the point where I am simply interested in seeing how the rest of this story unfolds at whatever pace it so chooses.

— madmen


#345

I can live with losing the money although it’s bitter. I am deeply sorry for all the other people I helped lose $ too.
Again, the problem I have is Les Price is walking around a free man after stealing millions of dollars from us smart investors.
This is no misdemeanor and with the Bermuda Sting experience, I can’t believe the Feds aren’t after him.
There is something very wrong with this picture.
What has Auryn done for us (so far)? Saved us from extinction? With the value in our accounts today, it’s pretty close to that anyways.
I measure performance by results and our pps has taken a dive ever since they’ve been in charge.


#346

Yeah, I can buy that - I am happy to wait, but I want to be assured that we’re moving in the right direction (maybe a simple update with general achievements to date and goals?), as I’m sure many others around here would like.


#347

My only hope with my measly $3k, is I converted to a Roth IRA. A month or so too early to rub salt in the wound. 0.0035 vs bottom 0.002 or less