Lean I think it would have been great that you and Kevin met with Maurizio. I sure hope Kevin asked the hard questions like when do you see the option being excersised and if we start to see SP appreciation drilling etc etc etc
Problem is Medinah is always the hold up. Let’s get this done already!!!
I’ll make one last attempt Lean. I’m trying to help you understand what you don’t. You think there’s no or very limited risk for a major mining company to buy shares on the cheap.
Has the risk been mitigated? Sure. Is it still very high. Yes!
The porphyry could be a bust. Earthquakes could happen. One of AMC’s adit tunnels could collapse on someone. The Chilean government could suffer a coup. We could enter a worldwide depression. MDMN could dilute the crap out of shareholders and issue insiders a ton of shares. Heck, because they’re not reporting there already may be agreements and resolutions in place that trigger back payments in preferred shares for “services” rendered the moment the option is exercised.
The point is, without being a fully audited, fully reporting company, we just don’t know. Are those things likely? I hope not. I doubt they are. But no sane mining company that has a fiduciary responsibility to its shareholders is going to take that risk without complete corporate transparency.
There was an old adage, “you don’t get fired for choosing IBM.” That applies here. It’s just not worth it, particularly when there are plenty of other options for investment (if that’s what a mining company wants to do.) Generally though they don’t buy stocks, they buy properties.
Okay. I’ll leave it at that. And sorry if I kicked the dead horse.
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I was wrong in January, just as you are here. The cash flow is not from Fortuna and Nuoco. AURYN already de-risked much of their play with the 10 years they invested in the Caren. That’s been theirs for a long time. That’s where the exploitation rights are and that’s where the initial cash flow will come from. CDCH and NUICO simply represented themselves. They had no money and very little choice if they wanted to move forward. It’s not like there are suitors all over the place. They could continue to dilute or make a deal. MDMN should in its own negotiations. They have the same options. I’m hoping to make a post about that in the next few days.
You continue to speak like AMC is strong-arming these deals. Please do a lot of due diligence and research all the mining deals that are going on right now. Look at the terms buyers are getting. AMC gave NUOCO and CDCH very fair deals to make them happen. I can’t express it any more clearly than that.
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Nobody is “responsible” in that sense of the word. It’s taken longer than expected to work through the normal process of obtaining surface rights through the Chilean courts. I believe they’re through that and now MDMN will pay the bills and AMC moves forward with drilling.
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Anymore there is pretty much a YouTube channel for every topic. Every once in a while I check out Exploring Abandoned Mines: https://www.youtube.com/channel/UCYKZObv8VH_Z2xXpftQXw3w
These two guys go around (in the U.S. southwest) and enter abandoned underground mines using a GoPro camera to film and post it. They usually post up to three episodes a month of varying lengths. The latest is about 15 min. These guys guys have a regular following of fans with a weird taste for watching underground mine exploration.
In the latest episode, they go through an old unnamed talc mine, which they call Gigs Folly or the Bad Luck Mine due to miners’ graffiti which they show. It appears no one has been in this mine for decades. At about the 8 to 9 min mark they show an old winze rail system still in place. No cart though. If you want a feel of what the LDM mine or soon the Caren mine looks / feels like - have at it.
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Just think about all the reasons that you are unhappy with what you know and don’t know at this point in time and you probably have your answer.
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Ditto! Thanks Kevin!
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Great synopsis Wiz, boy to i feel better about AMC, and our future. I know what it is like to have poor leadership in a company, or even a Dept. I love the comment on, if he didn’t know something, he admitted it. This lacks in my current company, and worse, I get nothing or no reply in most cases. I would rather get BS!!! I would love to work for AMC… Lol
I still think a good ending is in site, be it two weeks, 2 months, or July 2017. I can wait, but how good is anyone’s guess.
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That is good to hear. I have always felt AMC would deal fairly with MDMN and I believe that will also be the case for the ADL.
Maybe I missed it or I need to go to your blog. But, did you discuss any time frames during your meeting in PDAC? Are the original time tables set for production still obtainable? And did you discuss any plans for when increased production might happen?
This is worth recognizing as a possible (while hopefully not possible) risk. The reason like “bashers” like myself have been so vocal and critical of the “thank you sir may I another” group (BrecciaBoy, Bubba, and many more who have long left this board) is b/c this BOD has shown time and time again an egregious misappropriation of equity to their own benefit. If the issuance of 100’s of million of more shares is proposed, I hope that, this time, there is a universal “hell no” by the collective common shareholders (who now have a controlling interest).
Yes, NUOCO got a great deal but let’s keep in mind that a bunch of insiders spent a few million bucks to get 5% of AMC. The same deal that CDCH received (a company that at one point supported a $50M valuation). Many here accepted the almost daily adjustments to the “terms” of the LDM, etc. because we supposedly had a 30% FCI on the claims. Where did that go? This was a fleecing by insiders. IMO
Another example, amongst many, would be JJ’s ridiculous, retroactive claim that he somehow owned 50% of the Fortuna through CDCH Chile. This had never been disclosed previously. The nice thing, for us common shareholders, is that AMC has shown the tenacity to revert JJ’s greed through deals structured to diminish his equity grabs (example: MDMN where his 50% was reduced to 25% and CDCH where is 50% was reduced to 0%) .
As some of us have said for a loooong time the insiders running MDMN range from obvious scumbags (JJ, Les) to behind the scene scumbags (Chapin). I’m amazed there are still a handful of investors who haven’t been embarrassed beyond the point of posting for their steadfast defense of these gents but, when you’ve spent decades convincing yourself of a false reality, it’s hard to pivot.
On the flip side, those who have defended the merits of the mountain (including BrecciaBoy, etc) for many years prior to me ever even hearing the words “next week” should feel very good about their early conviction. And this conviction should be growing every day.
To Wiz’s point, MDMN will trade at a discount because of the “history” that so many here try to dismiss as irrelevant. If you won’t be happy with a 15-20 cent exit you shouldn’t be invested here (IMO). If you are anticipating a long-term dividend machine with AMC handing over 20% of the profits you shouldn’t be invested here (IMO).
As soon a the ADL proves up (it will take a lot more than two holes, FYI) things on the mountain and our stock will accelerate. Some folks are going to have to find another hobby b/c these stocks (MDMN, CDCH) will go the way of the Dodo Bird and, at least some of us, will be happy with a tidy profit/exit (IMO).
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I have been away for a while, just read about the survey. Tried to post the the form however, it appears to be closed. I have 2.1M shares to add to the list.
It would be nice to get an update of any kind from Auryn this week. It has been almost six weeks. I wonder if the news would be more free flowing, if the JJ share transfer had gone better. I realize news will most likely not move the share price, and that they are under no obligation to do so, but I would like to see at least one update a month. That’s not asking too much. Is it???
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1 a month? Probably depends on what is happening. But quarterly production results would sure be nice.
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