Best I can tell, Auryn is going public on the TSX as soon as possible. (“soon” is a relative term) They will be meeting again with the TSX in a couple of weeks. I certainly am not privy to their plans on how they are going to go public. (It should be obvious to everyone that the Option will be exercised prior to them going public. They will also be already in production.)
There will be no reverse merger of Medinah. Nobody…I repeat nobody from the Medinah side of the equation is saying this. It is possible that it might have been considered at one point in time but I have zero indication that it is still being seriously considered.
Medinah will continue as its own entity indefinitely unless bought out by Auryn or somebody else especially since it is in the process of being turned into a dividend machine. (I should point out that the latest exploration results at the Alto have already attracted other interested entities.)
And you would be Right On with what you have said.
“There will be no Reverse Merger” and “Medinah will continue as its own entity indefinitely.”
“Especially since MDMN is in the process of being turned into a dividend machine.”
And those three facts can be taken to the bank. Nothing about any of that has changed from day one when the contract was first entered into by both parties.
It’s not obvious to me. Why would either be a prerequisite for AMC to go public?
Agreed with your points on MDMN being used for the RTO. If an entity is looking to go public through an RTO they aren’t going to choose a 20 year old El Camino with three wheels and a broken odometer. The entity will buy a clean model with no miles on it for less than $250k and they won’t have Les and JJ in the back seat asking for gas money.
I’ll take a stab at it. To build greater value for their stock and show sustainable future earnings. Which both will hopefully attract the interest of the investing marketeers to buy and own AMC stock.
IMHO
One mountain, one miner that is a low cost producer that is mining a World Class Deposit in suburb of Santiago just might be a new TSX company with a future.
AMC is looking to RTO not IPO. I could go out and buy 5 parakeets, call myself one of the few “for profit Patrot Aviaries”, buy a shell on the TSX, put a few bucks into it, and RTO. AMC doesn’t need to exercise or go into production because the RTO process doesn’t involve/require raising outside funds. They could do it tomorrow.
If it was so easy as you suggest…isn’t really consistent with that fact Auryn has been in the process of jumping through all kinds of hoops trying to make it happen with the TSX.
In any case, I do not know how they are going to go Public…just that is a certainty that they are going Public.
Great news about them going public.
The question remains and that is : What`s in it for us? How we(mdmn shareholders) going to benefit from this.
There is still a scare around shareholders that Auryn will rip us off.
Based on the fact that an IPO is not an option for Auryn. I guess you can call this a well-informed opinion or general observation on the state of the sector in which AMC operates. It won’t take very long to analyze the precious metal companies that are going public (through IPOs) these days because there aren’t any. An RTO is the only option available (even if they are producing and have exercised the ADL option). With that in mind, there won’t be a need to raise outside funds.
Les’ referring to “hoops” isn’t really relevant. To Les a “hoop” can be as simple as making a decision to wear a suit vs. a tracksuit to a shareholder meeting. Most of us wouldn’t consider that type of decision as a “process of jumping through all kinds of hoops to make that happen.”
Buy a parakeet, a clean shell, add a bit of working capital and you too could be listed on the TSX. I’m not saying this to discount the importance of AMC going public b/c it serves everyone (both MDMN and CDCH) as a step towards liquidity. I have no doubt that the RTO is inevitable/imminent as I can’t see NUOCO or CDCH accepting shares in AMC if their wasn’t a clear line of visibility: private>>public.
Section 4.2 covers RTO/RMs. Section 4.2.1 discusses the advantages and disadvantages of an RTO/RM vs an IPO or using a CPC. Apparently an RTO is not necessarily easier, cheaper or quicker than an IPO or using a CPC for that matter. For now, I think I’d let Masglas’s lawyers do the heavy lifting on making this decision and we should concentrate on what AMC’s “going public” will mean to us.
The first decision Masglas needs to make is which of the 5 categories of TSX or TSX.V listings they have in mind. Page 12 and 13 review the choices.
If they had any thoughts of doing that then they would certainly not have put Sr. Letts onto our BOD wherein a fiduciary duty of care involving UNDIVIDED LOYALTY was placed onto his shoulders with significant legal repercussions for any breach involved. There is no higher level of duty in our legal system than a fiduciary duty of care.
That is somewhat relieving, I would welcome a very positive outcome.
One other think that worries me is the fact that we got almost one and a half billion shares outstanding.
Having said that many do not believe the appreciation of the stock is going to be more than 7 cents at the most.
that is one more sword that is hanging on our head.