Don, not sure I fully I understand what you saying, but any offshore brokerage firm either has to be fully registered as a SRO (Self-Regulatory Organization) with Finra, as broker/dealers are, or transact trades through a SRO. So any trades made with have to been under the guidelines/regulations set by Finra.
It could be CDEL shorting our stock and making millions on the short. There is an article about CDEL shorting OXYS continuingly and the price went from 1.20 to .17. ". . . We believe that through a combination of improper activities, these shorts have set about systematically destroying OXYS share price-the stock has declined uncontrollably and precipitously to an an all time low of $.17 per share on January 25,2016,a loss of almost 86%, while all at the same time the companyâs fundamentals have been growing(sales, growth, market shares. . . )
That quote statement is from OXYS councel to the SEC.
pulled it.
Trading is dead today. Kind of refreshing. Hopefully telling.
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Nah we still have a seller routing through CDEL just not hitting the BID
Hi MDMNholder,
The problem here has always been the porous nature of âsponsored accessâ. Offshore brokers are allowed access to our âAlternative Trading Systemsâ (Non-exchange trading venues like ours) via âsponsored accessâ wherein a market participant lends the use of his MPID (market participant identifier) to an offshore broker. This allows him to âpigtailâ orders into our markets without the risk control scrutiny that legitimate market participants must use.
When they get busted, the âsponsorâ says Oh I thought our offshore client had all of the controls barring naked short selling in place. Shame on them. The offshore crooks say, Oh we figured our âsponsorâ was making sure our trades were hunkie doorie with your countryâs rules.
The process goes undetected especially if an ECN is used as an intermediary. Thereâs this thing called a âConsolidated Audit Trailâ that canât be followed if an ECN is used as an intermediary. The clearance and settlement system is getting slightly better with time but Reg SHO never addressed the failures to deliver that were on the books at the time Reg SHO became effective in 2005. They got âgrandfathered inâ instead. Now the crooks need to shuffle these ancient FTDs around constantly to different clearing firms. I think it was HR or CHG that pointed out how one prominent MMâs activities from month to month mysteriously went down by 5.7 million shares and lo and behold another MMâs activities spiked by the same amount.
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Not to argue the point, but I believe the grandfather clause was lifted a few years ago. Also, I forget what big broker it was that was busted 2-3 years, shut down many of the loopholes and Finra has stepped enforcement, particularly of SROâs facilitating trades for off shore entities.
Obviously, I donât believe in NSS but having said that, in terms of nominee accounts at offshore brokers, I am sure illegal trades still happen, not NSS, but control blocks being doled out to numerous nominee accounts and sold into the market.
The issue will always remain, as is the case with Wall Street. The Feds can always close a loophole, but the folks on the street are smarter and will always devise another strategy.
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Hi no doubt,
The other thing we have, however, is recent history. On the Nuoco and Cerro purchases the options were never exercised. On the Caren Iâm not even sure if there ever was an option. I do suspect that Medinah will get at least 15% of the action at the Caren since they allowed AMC to âpoachâ a contiguous property that Medinah, via a standard noncircumvention agreement, would have had âfirst dibsâ on. Whatever the terms are and whatever the management teams of those 3 entities learned during the negotiations, all 3 sure seemed to vote yes in a hurry.
Question #1 becomes do the factors that resulted in the bypassing of the option terms for these other entities also apply to Medinah. Question #2 becomes what did the other 3 entities learn that made them vote yes so quickly. Does it have something to do with the pro forma projections for the cash flow coming from the early production opportunities? Recall that Medinah recently said something regarding how the early production opportunities have opened up the possibility of Medinah getting a much larger share in AMC. AMC recently said something about the early cash flow being helpful to expand developments leading to the EVENTUAL exercising of the option. But as far as we know, AMC is in line to earn NOTHING from Medinahâs ADL early production opportunities UNTIL they have some âownershipâ OR HAVE COME TO SOME TYPE OF NEW AGREEMENT.
These two statements appear to contradict each other UNLESS Medinah is contemplating swapping a piece of their early production opportunities (temporarily?) for more ownership points in AMC. If AMC is about to go public then some serious production numbers IN AMCâs NAME might be very helpful to them and therefore INDIRECTLY helpful to Medinah. Things are going to get fuzzier and fuzzier in between where Medinah ends and where AMC starts. AMC could âclaw backâ these extra ownership percentage points in AMC given to Medinah in an INDIRECT fashion by simply buying Medinahâs ridiculously cheap shares especially in bulk form from the Quijanos who theyâre not too fond of in the first place. This Quijano block is super important to AMC because it kills two birds with one stone. Itâs not only a CONTROL block but it also signifies an exit for the Quijanos. All of these hypotheses have the common denominator that AMC should be all over Medinahâs market but perhaps only once the Quijano block is once and for all addressed. This becomes a critical MILESTONE.
With Medinah holding what appears to be the lionâs share of the early production opportunities, Iâm wondering if theyâre waiting on the engineering report to further define the value of what exactly Medinah owns from a near term cash flow point of view using a discounted cash flow analysis.
These things called mining âoptionsâ are often bypassed once the offeror and optionee have a better feeling for the value of the property. The option often acts as a âplaceholder contractâ until mutually agreeable terms are reached once the âtarget definitionâ process is far enough along to properly ascribe values.
To me the elephant in the room on this deal is the âAMC owns NOTHING until the option is exercisedâ clause. The corollary appears to be that Medinah pays NOTHING in exploration and development costs until the option is exercised (if ever?). If you layer upon that high grade near surface early production opportunities as a catalyst then things can happen rather quickly. I sense that the early production opportunities were not specifically addressed in the earlier agreements and now they have become the GAME CHANGER. Once we have some projected cash flow numbers then weâll have a better feel for how daunting the $100 million purchase price really is in terms of months/years of AMCâs portion of near surface high grade gold production.
Iâm not sure those that are reading into this situation that more AMC percentage points translates into less cash is accurate as it was stated that the early production opportunities provided the opportunity for more AMC percentage points. What I think is critical to appreciate is the role of significant cash flow right from the get go on the economics of the overall project. Weâll see.
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Mike Gold are we still to be expecting News from Auryn. You stated last week it was ready to be released.
The show starts in 2 weeks I think they will want to release more info by then. Donât you think
They might have arrived back in Peru today. If so, news should follow very shortly.
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Might? What are chances of Might Not? I hope they release something of value this week but who knows
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Not correct. And again, I think AMC is capable of chewing gum and walking. The website can be updated regardless of where any principles or directors of AMC happen to be. So itâs irrelevant where anyone is.
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Doc, if you read the contract, MDMN allows Auryn to make acquire any claims, contiguous of not, and in fact requires MDMN to assist them in acquiring the claims.
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Along with what mdmnholder responded, per LP (secondhand) MDMN is to get 5% net of costs from Caren. (ymmv re: this info.) I believe that goes away once option is exercised and we have 15% initial stake in AMC.
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I really stromgly recommend everyone read the option agreement as many things posted are not as stated in the agreement. For those that donât usually deal in contracts, I would make the observation that it was obviously drafted by Auryn and in their favor. Indications of such, is the ability of Auryn to pick up adjacent claims and require MDMN to assist; Requires MDMN to pay the Claims fees, but the real kicker is, if they donât exercise the option, they are required to provide all the exploration data, but it will uncertified. Meaning MDMN or the next partner, letâs hope not, would have to redo all the work for it to comply with 43-101, JORC or Section 7 guidelines.
I only mention this to show what little leverage MDMN had in the beginning and obviously, there was not a long line of majors bidding on the property.
We are in Aurynâs hands, IMO, they are reputable, know what they are doing, and most likely donât want legal complications. Hence, we will be treated fairly, at least in their eyes.
While not ideal, Auryn is doing the right things in terms of exploration and have spent the money we never had. Letâs just hope we all get a fair return.
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Capable yesâŚbut funny that no news comes out when they are on travel status.