They are not. They haven’t drilled MDMN’s property in almost a year. They have done some drilling on their own property in the adits (at least that’s my understanding.)
So if I understand correctly, this is where we’re at:
Auryn will begin production on their portion of Caren claim and fortuna. Mayish
Cdch now owns 5 percent of Auryn and will receive profits from early Auryn production.
Mdmn will not receive any early production profits unless the option is excercised. Early exercising is sounding quite possible under different terms than the original $100M and 15 percent of all Auryn
A likely restructuring of the option agreement would allow less or no cash up front but replacing with higher percentage of all Auryn
If option is excercised prior to early production, Mdmn would then receive profits from Auryn based on new percentage of ownership
Do I have this right?
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If you have a deposit that happens to have very high grade near surface early production opportunities then think of TRENCHING as drilling many hundreds of extremely shallow holes in areas with no overburden. Then what you do is to overlay the IP/CSAMT results over the trenching results in order to get a picture of what’s going on from the bottom of the trench to about 400 meters of depth. The insane channel sampling results received from adit #1 and 2 at the Caren mine give us a hint at what’s going on at about 100 meters below the plateau. Note that the surface trenching results get better as you head south on the Merlin 1 Vein towards Pegaso Nero. At the Fortuna Vein the mining results were just the opposite as grades diminished towards the south but the veins did get wider further to the south. The big question is can we expect the insane grades received in adit #1 and #2 to extend all of the way across the plateau to the south within the Merlin 1 Vein.
The new AMC update reveals an enormous amount of very positive trenching results now including near the Fortuna Veins. When Kevin references intra-adit drilling at the Caren Mine they’re probably testing an IP anomaly they found near the Merlin 1 Vein near the mine. Some of the upcoming drilling will no doubt be done in conjunction with production in order to guide production and evaluate nearby IP anomalies.
If the overall goal of mining is to sell your concentrate to a mill and you were blessed with early production opportunities like these in an infrastructure like this then blocking out MR/MR like in the old days takes a back seat to pulling ore NOW and depositing checks. Having said that I have heard that they are building a new warehouse to house the drill core from upcoming drill activity which may or may not be related to the Pegaso Nero.
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Pretty sure he means inside the Caren adits themselves.
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yep, the faulting suggests that the Fortuna Oeste Vein may become the Merlin 3 Vein which also heads in the direction of the Caren Mine as a yet to be tested “lineament” (surface showing suggesting continuity). If I had to guess, I’d say they’re trying to see if and where M-3 enters that neighborhood. If it does then the proposed underground mining might become more of an open pit. Over towards the Fortuna Oeste to the east I’d say open pit for sure where those dotted red lines are on the new AMC update. That yellow argillic alteration that closely traces these veins is widest at this point. This makes the IP/CSAMT results very helpful because it picks up the argillic alteration nicely.As AMC states the “CSAMT shows good response in the argillic altered corridors and subparallel veins”. You find the alteration you found the veins.
What’s impressive here is that the trenching expanded the amount of lineal extent of veins making it to surface from 400 meters to over 5,000 meters. To that you need to add the subparallel veins that didn’t make it to surface. There’s a lot of stuff crammed into this 1.5 Km wide (E to W) swath.
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The way they are releasing news we will be sub pennies before we can catch our breath! pathetic!!
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What really surprises me is that in all the 15+ years that I’m here I don’t remember the stock going below .01 so whoever is selling is not making any money or it’s the mm’s that are manipulating the sp.
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Anybody selling Now is selling at a Loss unless you bought under a penny and never added or your cost basis is 0
I say pull the BID and let it drop so Auryn can just tender us at .05 so I can exit from here
Just amazing that great things are happening all around and we keep going lower.
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That’s the Caren Mine “Bonanza Grades” within the adits. That’s where the first production will be. The numbers were given in January.
From the new Operation Plan chart:
- Drilling Merlin/Fortuna - Q2 2016
- Drilling P.Nero - Q3 2016
- Drilling on the Gordon again: Q1 2017
- Drilling on LDM: Q2 2017
Also note that if you refer this chart to the “Pyramid Chart” just before it, all the planned 2016 / 2017 drilling is simply Phase II exploration. Phase III, IV, and V (PFS) is after that, way past Aug 2017
I agree…I would take .05 today and a 33% loss, and be done with it forever. It is time to turn the page on this horror story. It just can’t go on forever. Can it???
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This MDMN price behavior pattern has been in place for over 10+ years. Not a new phenomenon.
To me, CDEL and other MM have been selling on a daily basis. Claro might have been selling also. In my opinion, I think that it has been the MM who have been driving down the price by selling at the bid. Do they need to buy at low prices so they can cover the shorting of mdmn shares and also air shares?
". . .we note that CDEL…has been investigated and suspended by the Government of China for illegal short selling." quote from a letter from Oxysure’s to the SEC.
www.oxysure.com- OXYS
when you get T-Trades, it is a block seller, selling through a specialty broker, like Alpine, Scottsdale, etc.
I’m not sure what you are saying. All Trades on Etrade Pro are marked with a “T” for trade in the indicator column. Otherwise it’s just A for ask or B for bid.
trade occuring after the market, reflected as T-Trades. Usually seen when someone has a big block of shares to sell, handled by one of the specilaty brokers that sells short during the day and covers off the block at the end of the day.
My guess is the daily short volume will be decent size for the day.