the bat phone rang and didn’t get to talk much. I was getting ready to ask about JJ and his shares.
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T.R. Thanks you for being so open. Lots of us did exactly the same as you. Especially after the “done,done,done” AGM.
Now upside down and waiting to see if MGMT learned to be more competent and honest (oxymoron ?).
Tough lesson for many of us.
Peter
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If we don’t get a decent settlement, we could probably get a group discount for all of us who want a moron tattoo.
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Can I get one that says KING moron? For an extra couple bucks?
I’m betting Trader Rich is a genius because I’m in the same boat. (I bought recently too!) LOL
It’s a bit therapeutic for me to discuss it and I suspect it helps others in the same boat to see someone else share it. I’m not ashamed or embarrassed to admit I do dumb things. It’s more embarrassing to not learn from them and repeat them. (I’ve done that too!)
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Nah, there are much worse acts in the world worthy of that title.
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I have outlined the approximate location of the mineralization in yellow.(Or more correctly, the area that Auryn highlighted in their diagram.)
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TR can you gives your thoughts on gold? Looks to be moving up nicely
If you’re going to put it that way, how could I argue? 
At least it’s nice to know that Auryn continues to show progress and especially that the mountain seems to slowly be beginning to measure up to some of our expectations. I’ve invested money in pinks in the past that turned out to be complete scams so, the silver lining here is that this isn’t one of those. The question at this time is, will shareholders get to share in the fruits of what comes of this relationship with Auryn or not? We wait…
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Gold is showing early signs of a reversal, although it’s too soon to call the end of the downtrend in my opinion. I’ll do a chart update on the old MP site by this evening EST.
Copper and silver are doing nicely also, and oil, so perhaps we’re seeing the beginning of a new commodity bull market. Too soon to tell for sure right now.
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Thank you MG for outlining the mineralization in yellow, but what about the rest of the mountain? Just barren land?
Does it matter? With the epithermal gold system up top…and a giant copper/moly porphyry down below…the rest of the mountain could be a complete barren wasteland and it wouldn’t make any difference.
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Love your answer! 
IMO mostly about dollar weakness so far that’s why everything is moving.
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I’m pretty sure that applies to the majority here. Misery loves company 
Someone is still selling endless shares here @ .015
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Hi Albireo,
The original hyper-spectral satellite imaging survey showed a 7 Km long swath in the E to W direction which was 900 meters wide in the N to S direction i.e. up and down the slope of the southern downslope off of the plateau.
AMC just expanded this 900 meters of alteration N to S to 3,600 meters of nice surface grades. This is pretty much the entire southern downslope of the mountain. I’m not sure if people realize how large of an area this is. Of the 7 Km of alteration found E to W they only had time to test 1.2 Km but it remained “open” to the east. This is probably where they’ll start in the next round of geochem surface sampling.
The satellite survey only reveals “alteration” right at the surface. It does not penetrate at all. “Alteration” represents where the hydrothermal fluids emanating from the rising magma literally “cooked” the native rock all of the way to the PRESENT surface. The heat, pressure and chemicals in the hydrothermal fluids will “alter” the native rock and convert it into other minerals and textures like clay (argillic alteration).
After doing the satellite survey you say OK that’s impressive so what the heck is in this massive swath of “altered” rock. AMC just answered this question. There is a bunch of copper, moly and gold RIGHT AT SURFACE. This was geochemical “surface sampling” that they did. In a Cu/Mo porphyry system the moly and to a lesser extent the copper is located near the core of the porphyry. If you picture the porphyry as a giant beachball tucked into the confines of the mountain, the near core aspects of this beachball (where the moly hangs out) is herniating out the southern side of the mountain.
Most porphyries are buried deep inside of these stratovolcanoes near their “root zones”. The very top surface of these porphyries are typically 1.5 to 4 Km below the ORIGINAL surface (Sillitoe). To me, the story here is EXTREMELY CLOSE PROXIMITY TO SURFACE, ENORMOUS IMPLIED SIZE AND PLENTIFUL VERY HIGH GRADE EARLY PRODUCTION OPPORTUNITIES. The average “run of mine” grade will take probably a decade to get one’s arms around.
From my point of view, the most important of these for the Medinah shareholders are the plentiful very high grade early production opportunities. The quicker the CASH arrives, the quicker the shareholder rewards can be all but GUARANTEED. Our market clearly is what it is. It has ZERO and often negative reactions to positive developments that have people like Mike doing cartwheels. We’re used to this though. The problem is that until you gain ACCESS TO CASH there’s not a whole lot you can do to change it and share prices become the sole determinant of shareholder rewards.
The crummier the market is, however, the more shares that can be bought back and retired ONCE AN ISSUER HAS ACCESS TO CASH. With less shares outstanding the more generous subsequent cash dividends will be on a per share basis. The generosity of any dividends on a percentage of share price basis WILL FORCE THE SHARE PRICE UPWARDS.
To me, these recent developments at the Pegaso Nero put yet another nail into the “they will exercise the option” coffin. This is also the “we’re about to have truckloads of cash and determine our own future” coffin. Hopefully these PN results will be incorporated into the calculation for the amount of the “bonus” attached to the purchase price which is apparently being negotiated as we speak. These new PN developments are pretty much 100% Medinah related. It will be interesting to see if there are early production opportunities associated with these new developments.
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Having said that, the mining shares look like they are getting some momentum. $HUI up to 140
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