I agree with your points. The mining plans are great. I would like to see the business plan you mentioned and how that plan relates to Medinah.
L&G: youâre going to give yourself a heart attack! Wizard is correct on all fronts. Follow his lead & your blood pressure will stabilize.
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I respect the Wiz. To be clear he is not correct on all fronts.
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AMC is a private company and has no requirement for any disclosure other than what is in the contract. Iâm very thankful that theyâve gone way beyond their requirement.
How is any of that representative of AMC strong arming MDMN? Itâs not. AMC has nothing to do with Bogdan. They have no more knowledge of Claro selling than you or I have â basically suspicion and LP rumors. What share issue with Juan? They announced they are trying to buys JJâs shares. It didnât happen. They have no need to disclose any of that, regardless.
Regarding Roberto Letts on the BOD. Itâs common for large investors to have BOD representation. AMC affiliates own 210 million shares. A seat at the table is warranted. The last we know is the BOD for AMC was removed from their website. LP has indicated to many that Letts is not on the AMC BOD and weâve also heard heâs recused himself from any involvement in any related negotiations.
How are any of these points examples of AMC strong arming MDMN? Theyâre not. Yet youâre faulting AMC. Itâs common for the sick to lash out at their caregiver. I guess itâs just as common for the stuckholder to lash out at the one company that has a chance of salvaging their investment.
Have you been reading the news AMC has been putting out? Itâs not their fault the market doesnât respond. Also, AMC is not a pink sheet scam company that goes around announcing things that arenât true or announcing things they are likely not to do. Get over it. As far as putting a restriction on MDMN, where has that been done? As far as I am aware, AMC has placed is no non-circumvention, non-disclosure agreement on MDMN and has made no restriction on MDMN announcing anything.
For yearâs MDMNâs pattern has been to be secretive. Itâs poorly managed and communication and Juanâs business judgment have always been their weakest points. Juan is now out of the picture. That doesnât change the other issue.
Again, you are completely wrong in blaming AMC for this.
Have you read the contract? AMC owns the Caren claim. Itâs owned it for a long time. They are perfectly within their rights to go into production on their claim and itâs the only one that is permitted at this time.
So again, your attempt to show this as an example of AMC strong arming MDMN completely misses the mark. Itâs like youâre not even shooting in the right direction and are lashing out solely because the price isnât what you want it to be. Itâs completely destructive.
AMCâs relationship with MDMN is fairly strong from what Iâve been able to gather from both sides of the fence. There isnât any strong arming at all. Itâs a standard friendly business relationship.
AMC owns a great deal of land and MDMN owns a great deal of land. It all all is right near each other on the same mining district, the ADL. AMC did all the work, provided all the capital, and all the knowledge to finally consolidate the claims and wrestle the ones they didnât already own out from under Juanâs control. MDMN assisted in that for sure and now those claims are completely within MDMNâs control. AMC has their own claims on the ADL that had nothing to do with MDMN or CDCH or NUOCO. MDMN has no cash, no knowledge or mining expertise, and really nobody active for them in Chile. The two companies need each other. Both have the same vision â MONETIZING the Alto De Lipangue mining district.
This is all a very good thing. Instead of sitting on the property that Juan has controlled for decades and saying how wonderful it was and asking for billions and only putting a mere shovel into the dirt â AMC and MDMN are doing everything they can to monetize it appropriately.
Are there issues still to be addressed? Yes. Does MDMN still have plenty of weaknesses that need to be corrected? Yes. Could AMC do some things differently? Of course.
But frankly, I find your assessment of the situation as ridiculous as those who think MDMN is going to renegotiate the option so they get more cash than $100 million from AMC AND more than 15% of the stock in AMC.
I no longer have the time to counter your continued posting on this topic in this manner. If you continue to post without any sort of reasoning I will create a separate forum space just for you to post in and I will gladly post a single rebuttal at the top and let you post away with pot shots. But weâre not going to let this kind of crap clog up the forum any longer.
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Can I get an hallelujah?
I guess now Kevin you will be labeled as an Auryn shill if your opinions are contrary to the daily MMI (Medinah Misery Index). Itâs like Columbus trying to explain the world to the flat-earthers.
Regardless, you have the single most unique shareholder perspective on Aurynâs vision and intentions than any other outsider. Thank you for taking the time, initiative and opportunity to meet Maurizio et al at PDAC and sharing your thoughts on that perspective with the board.
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I think for at least the next month, I will simply take Kevinâs word for it on everything lacking a better source of information. He will enjoy that immensely! 
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@MikeGold, @cornhuskergold â re: the Caren and AMC. It is the upside down right triangle. Between that and the Fortuna there is enough to go after for quite some time. As we know, right now the Caren is the only area permitted so really itâs the only area they can go into production on and AMC owns it outright and has for quite some time (through another company name.)
Mining approach seems to be underground for the Caren and Fortuna will be open pit. When they get to all the MDMN Merlin claims that will be open pit as I expect NUOCO to be as well.
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"As we know, right now the Caren is the only area permitted so really itâs the only area they can go into production on and AMC owns it outright and has for quite some time (through another company name.) "
Since they have a contract for 3 years of exploration why would mdmn allow them to work on a claim that is not theirs? Have they fulfilled their contract terms? meantime mdmnâs claims will remain idle. Somehow that is not working together and not good business.
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The Caren claim is AURYNâs not MDMNâs so I donât understand what you mean when you say MDMN is allowing them to work on a claim that is not theirs. Caren is the only one capable of being exploited at this time because itâs the only one permitted. Fortuna is now AURYNâs as well.
Who said AMC is not doing exploration on the ADL or Merlin and are letting them sit idle? Read their news releases.
Re: contract terms â have you read the full contract (more than once?) AMC has already fulfilled its obligations. They can exercise the option whenever they want.
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ThanksâŚhavenât had enough coffee this morning.
Wizard, if Auryn starts production on their Caren. claim prior to exercising the option agreement and mdmn will get 15 percent of all Auryn, which of the following do you believe is most likely:
- mdmn receives 15 percent of revenues as Auryn receives
- mdmn receives 15 percent of revenues only after the option is exercised including any backdated revenues generated
- mdmn receives 15 percent of revenues generated only after the option is exercised
Is it possible that Juan and Auryn have agreed to a compromise whereby Juan has enabled Auryn to get started on the Caren/Cerro properties at a reasonable Cerro takeover ?However subsequent to Auryn proving up these properties with reserves etc Juan will transfer his MDMN shares to Auryn at a greater valuation. Hopefully they have worked out some give and take along these lines. Am I only dreaming?
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Version 4.0 - no substantiative difference in terms of meaning for MDMN but I removed the white square altogether. âCaren Mineâ and âCaren claimâ is where the action / production is in the short term and is the blue triangle area. Apparently there will be other activities soon also over on the Fortuna area.
The most important point of the map is the central location of MMCs two claims and the impact this has on the likelihood AMC will eventually exercise the ADL option.
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I donât see how anyone can come to a conclusion other than #3 if they read the contract and apply common-sense business judgments.
Also, AMC has already indicated that those revenues will go toward supplementing the exercise of the option agreement. Meaning they will put the profit into paying the $100 million when they feel itâs appropriate to do so.
Incidentally, CDCH will be receiving 5% of the net from that operation.
Maybe Iâve made too big a deal over this and people are getting overly concerned. AMC is going to exercise the option at some point (or some other agreement will be made.) Thereâs little question in my mind that this ends with AMC owning it all and MDMN getting some sizable percentage and a very nice payout when a big player is needed to handle the porphyry.
The initial production levels arenât going to be stellar until AMC is permitted on more than one place through the various companies and they build their own heap leach facility. By then itâs likely weâre not having to guess when the option will be exercised. It will be done in one form or another.
:::: again, the opinions stated are my own and not necessarily those of MDMN or AMC management and affiliates ::::
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Kevin when can we expect your conversation you had yesterday on your blog?
Iâm already posting quite a bit hereâŚit may be several days for me to organize a lot of it into a format for posting. I do have a full-time job and a new puppy!
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to be a stickler, it wonât be ârevenuesâ it will be âprofitâ just like ownership in any other company
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L&G, a couple of observations:
- Caren Mine, AMC owned it long before the option agreement, why shouldnât they put into production?
- If you the option agreement that MDMN signed, it called for minimal expenditures, which AMC has substantially exceeded.
- Per the contract, AMC is only obligated to give updates to MDMN once or twice a year. Obviously, they are providing more regular updates.
- Re: insider sales. It is encumbent for the management to bring issues to the BOD for discussion/voting. So it really is up to Vittal et al to investigate and bring the matter to the Board. Now who is better suited to take the lead on this issue, Lettâs or the new member that is an attorney?
- Setting a price floor, I think it re-read the last pr put out by MDMN, is may be the most promotional of any that I have seen. They clearly state $100 million. Auryn has stated $100MM, the contract is public, what more can be done to say, MDMN has an option for $100 million.
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