110% and counting! He must be gone forever!
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I truly hope that someday shareholders will be told everything that theyâre currently not being told so that an accurate perception can be made of JJ and GC in particular, and Iâm not lumping them in the same category. Quite the opposite.
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You are not the only one. That is exactly what I was saying yesterday. We will get more, the sale price has gone up. Cash/shares equation, who knows? But our stock will have more value now.
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Exactly, been saying it for years. Without JJ, no mountain. Gotta take the good with the bad if you want to play here. And now Iâm saying Blue Skys are starting to look Bluer.
I told another shareholder who knows the whole story the same thing. IMO, their not telling it reduces the value of our shares.
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Did this shareholder tell you the whole story?
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AURYN Mining Chile SpA (AMC) Continues Land Consolidation Adds Three New Areas to Portfolio
(February 01 th at 08:40:00 am)
Santiago, Chile, February 1, 2016 â AURYN Mining Chile SpA (âAURYNâ or âthe Companyâ or âAMCâ) today announced the following three acquisitions:
85% of the outstanding shares of NUOCO (LDM), and in doing so effectively exercised the corresponding mining option agreement.
The Caren mine, through the acquisition of Minera Mantos Azules Chile, which in turn holds exploitation and environmental permitting to start early production of up to 5,000 t/month on the identified high grade veins that yield grades as high as 124 g/t (Update on bonanza gold grades in Caren mine, have returned over 100 g/t Au at Fortuna - Merlin system in the Altos de Lipangue project, Chile. - AURYN Mining Chile)
100% of the Fortuna and Lonco Millarepu mining properties, that constitutes the Fortuna de Lampa mine.
With these acquisitions, AURYN Mining Chile SpA has only one JV mining option agreement pending to be exercise with Medinah Mining Chile (MMC).
âAdding over 3,000 hectares of ownership to the AURYN Mining Chile SpA portfolio is an exciting step forward for AMC,â said AMCâs Executive Chairman, Maurizio Cordova. âThis now consolidates the entire mining district, called Altos de Lipangue. With this consolidation, AMC expects to start production this year on the exposed high grade veins, namely Caren-Merlin-Fortuna. A team of mining engineers is travelling to Santiago in February to start the preparation and design work to achieve AMCâs production goal. We expect it to be cash flow positive that will supplement AMCâs exploration efforts and ultimate exercise of the JV Mining Option Agreement, with MMC,â added AMCâs Executive Chairman.
Submitted on Behalf of the Board of Directors
AURYN Mining Chile SpA
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So by reading this nothing has changed regarding the 100 million and everything all properties is under 1 agreement. Production to start this year
I take this a great news!
Options being excersised, producing this year, gold prices up, looks real good
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IMHO it is great news. Now all we need is for MDMN to be allowed to put it out on the news wires ASAP. Also we should be getting news from CDCH this week to follow this.
With respect to this news release,I am just wondering if any of our informed posters know anything about the terms of Aurynâ s purchase of the CDCH / Fortuna properties? And whether this news is a positive for CDCH shareholders?
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So apparently they in-effect disconnected the NUOCO option from the ADL option, i.e., they cancelled the option between MMC and NUOCO. The NUOCO guys (Greg, JJ, etc.) received some type of compensation (Auryn shares?) for their 85% of NUOCO. And apparently MMC/MDMN still has the remaining 15% of NUOCO (which Auryn will want obviously).
They worked a completely different arrangement from the Fortuna option and outright bought 100% of the Cerro properties whereas the option was for 85% of the properties after exploration expenses. Clearly there is much to be revealed even after this statement re. how Auryn bought Cerroâs two properties. How was Cerro compensated? Iâm sure Cerro will be communicating shortly.
And yes it makes it obvious that Auryn will want to buyout the ADL claims.
My interpretation of the last part is
- a. if MDMN holds to the current agreement, Auryn will try to set up mining and cash flow to help pay for the $100M option but this will probably wait until Mid 2017 because of the time it takes to get the mining going. If they can get enough cash flow going they can finance the $100M
b. the alternative theory is that this course of action by Medinah would prompt a TO in the near future but probably at a lower-than-what-most-of-us-want price point
Else,
2. Medinah does a deal here, which Medinah said is being negotiated, to lower the $100M cash point in exchange for Auryn equity, thus raising the current 15% to something more. We have no insight at this point what the negotiations are, whether $100M becomes $0, or $10M, or $20M or whatever. Thatâs what negotiations are for. In this case, one may presume the deal could be done sooner and thus possibly get some cash (maybe) into Medinahâs hands sooner
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I feel like we are in a very good position now to see some SP increase. HOPE!!! HOPE!!!
Good summary. I think this is about as clear as anybody is going to get until more information is provided. The first indication on how this may go will come with CDCHâs imminent update. I donât know how the Days, who âtechnicallyâ have voting control could already have voted on the proposed deal but I guess weâll have to wait for the outcome. It does not sound like CDCH holders will be receiving shares in MDMN.
Donât see how this moves the stock much until we get clarity on the reworked/improved/worsened/tweaked/diluted/enhanced option agreement on the ADL.
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Sorry if this has already been discussed, but one could read this statement differently:
âBased upon the positive results published by AURYN, negotiations are ongoing between the Companies to consider AURYNâs outright purchase formula for the Companyâs Altos de Lipangue (âADLâ) property claims at a much higher ownership holding that would enhance Medinahâs long-term prospects.â
You could read this that Auryn is going to give MDMN more money in return for reducing our 15% equity interest in Auryn upon exercise of the option. Just something to think about until the real details come out!
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NoâŚAuryn will be exercising option probably next month unless they canât come to an agreement. This will happen prior to them going public later this year.
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That would be Option 2 above where I said: âone may presume the deal could be done soonerâ
Option 1 is âunless they canât come to an agreementâ as you stated it.
So, No, we actually agree. 
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Again Mike⌠what can I say? For one, I definitely like your certainty. 
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