Did everyone read all those stock tickers? Those are for real. Wizard has been around so long that he has seen each and everyone of these stock tickers come and go. Your failure to internalize what information he offers is your undoing.
I know, because I have been around nearly as long, and know that he has a good heart, and, has invested considerable energy to help others get out of this nightmare with more than they invested.
Many thanks to Wizard for all he has done, and, all that he continues to do for the MDMN and CDCH shareholders. Peace out.
It’s easily available on I-hub. Some there have it on speed dial.
While some here (or currently on hiatus) will argue that all actions from the past, including those a quarter of a century old, have everything to do with the here and now I will suggest that this subject has nothing to do with how this process and Auryn will move forward.
Don, i somewhat agree with you, however, I am sure Les was intimately involved in the the 165 million shares being deposited into Cede right after JJ’s conversion of preferred to common.
While I’m not “sure he was intimately involved” I would agree that he was “likely” either involved or knowledgeable in some way. More of current day interest is the rumor that he now has some kind of control of some or all of those JJ/JJjr conversion shares that is satisfying Auryn that they are now locked down from trading. To that end, if Auryn is satisfied then I’m satisfied.
Thanks for a great summary on your meeting with Maurizio Cordova up in Toronto. What I really took note of was his preexisting relationships with as many major miners as you related to me when I first debriefed you on your trip. Most mining entrepreneurs in his shoes want to maintain CONTROL of a project like this as long as they can while the NPV of the deposit grows often in a parabolic fashion. Once the NPV starts to plateau out then it makes sense to sell a few points of the action at these new elevated valuation levels in order to raise money for things like CAPEX or maybe even funding the Medinah purchase price.
The grades being encountered in the Caren adits have to be a godsend for AMC in their quest to develop the entire mountain with as little borrowed money and as low of a cost of capital as possible. I’ve seen over the years what high grade near surface early production opportunities can do while acting as a catalyst for an overall project. These early production opportunities will no doubt also gain attention from the big boys including the “royalty streamers”.
When you zoom out and look at the overall mountain, however, I still think it’s the Pegaso Nero that’s going to continue to draw the attention from the big boys. Confirming that a discovery has actually extended a well known belt of porphyries i.e. Chile’s Coastal Range’s “Early Cretaceous Porphyry Belt” doesn’t happen very often. In AMC’s press release you noticed how they carefully listed 4 parameters describing their conviction in this extension.
I highly suspect that one or two strategically placed drill holes into the Cu/Mo porphyry will result in a knee jerk reaction by the industry so starved for a massive deposit with early production opportunities in a geopolitically safe environment with an infrastructure to die for. Medinah’s post-option exercising 15% stake as well as the 5% stakes of both Nuoco and Cerro are typically provided with an exit strategy option that may or may not be taken. It’s refreshing to receive the confirmation that we have drawn the attention of some of the big boys and that AMC already has a working relationship with them.
With their share ownership in Medinah they could play the role of a highly incentivized “broker” to seek out generous expressions of interest from this community. A transaction like this could also provide AMC with a portion of their CAPEX commitments from their profits on their Medinah share investment.
This is the pink sheets. This is a non-reporting company. We experienced “Done, Done, Done” before. No company is going to take that kind of a risk in the market. If they’re a mining company they’re not going to buy the stock, they’ll buy the property. On a real exchange with a different company the situation might be different
That’s fine. It makes complete sense to me. There is no major mining company that is going to buy shares in a pink sheet penny stock with MDMN’s history, no financials, no audits, no ownership in the land that is about to go into production, no expertise, no option exercised. It’s simply not going to happen. It’s unfathomable to me think otherwise.
Look – there aren’t even that many sophisticated retail investors who are willing to do so. Ask your acquaintance who could buy a boat load why they’re not buying it? There is still a huge amount of risk. That’s why we’re trading where we are.