I’ve got a question for you to answer, if you can. All I ask is that you answer it using common sense and/or first hand knowledge.
First, please understand that I’m not trying to say he did or did not sale those shares but, looking at the charts, it would appear that the majority of those shares were sold between 2.1 and 3.7 cents. It appears that the average sale price would be closer to the mid 2 cent area but there is little chance for anyone, other than the seller, to know what that price is for certain. (Stay with me, I working toward the question.)
Most everyone agrees that Auryn has made many attempts to purchase Claro’s shares directly from him. It appears that Auryn has had several meeting with him and JJ (or their representatives) to encourage the selling of these shares to Auryn.
While no one here knows at what price Auryn has offered or the price that JJ or Claro have demanded, I don’t recall anyone here honestly suggesting that Auryn had offered anything less than 8 cents. While I’m not one that truly believes that Auryn offered less than 8 cents per share, for the sake of this discussion, let’s say Auryn offered 6 cents for any or all of the 350 million shares. (We do know that they got at least 60 million of them.)
Now the question.
Why would anyone who is being offered 6 cents, or more, per share be deliberately selling tens of millions of shares at prices averaging some where between 4 cents and 2 cents?
Is there any statement by AMC showing they still own 210 million shares? It is my opinion that AMC could be selling there stock to keep the price down low to scare shareholders. If we are looking to received dividends from Auryn in the future, what benefit do they have to own MDMN as plans of a TO might be off the table because of all the BS?
L&G, in the OTC, after 90 days of no involvement with a company, you are no longer classified as an insider.
I do agree with Wiz, but I would say that Les has done a spectacular job of feeding bs to keep everyone interested. On the old board, forget his name, Ray something, he would send emails to Les with several questions and les would reply. And yes, Les stated in an email, no deal without upfront cash. The whole lot of them are cancer.
Don, good points and question. There is rationale for dumping stock, if Auryn didn’t want to pay cash upfront but put the shares in a trust with payment made at the time of option exercising, or if the offer was a combo of AMC stock & cash, or just AMC stock.
Only problem with all or nothing trades is that trades that aren’t so restricted will fill before yours, even if the price is well below you limit. So I don’t put on any restrictions. I watch action near end of day. If it partially fills, I can always cancel for the next day.
I understand. But you can always break them up. Say I want 200k mdmn. I would put in two orders for 100k each (AON) It will cost me 2 commissions, but without all the headaches…
L&G, i did not suggest no one knew who was selling, just that Claro, after 90 days, could sell and no one could stop him.
The idiot BOD/Mgmt. should have put a “leak-out” provision in JJ preferred and LP debt conversion, such that only x amount of shares can be sold per quarter.
This kind of statement has always been true, is undoubtedly true now and regardless of what happens and however long it takes to happen or not happen, will always be true.
Cue Annie singing the song, “The sun will come out tomorrow…”
This is just not going to happen. I understand conventional wisdom seems convinced that the PPS will magically equate to book value if this exercise actually happens as originally conceived (which I seriously doubt, as AURYN will surely find a smarter path to their goals than turn over that much cash to MDMN as we now know it).
Why would an investor pay 7 cents for a share that has a pro-rata book value of 7 cents.
Our PPS will move when AURYN has measured resources and we finally have clarity as to how this is all going to play out in terms of our participation in future mining. Any non-insider who claims to know how this is going to work is being dishonest.
In the meantime, perpetuating the notion that the stock price is going to magically jump to 7 cents if this option is miraculously exercised as originally understood provides a disservice to investors in the forum. Optimism is one thing, delusion is another entirely.
