I am going to disagree with Mike (who is a great guy btw). Why would our MDMN share price recover indefinitely? Our wealth will increase when MDMN is history, and we start anew under a different moniker.
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My bad. Thanks for correcting me.
Really now? Arenât you the guy with the writing impediment such that we all had to endure monthsâŚnah years of the same post over and over again.?
Something like price wonât go up till the Option is exercisedâŚblah blah blah?
WellâŚthe Option is being exercisedâŚearlier by more than a year I might add! I would think that would put you out of you misery but maybe not?
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Not sure the anger toward this poster. Yeah, its the same theme, but letâs face it, your predictions over the last three years that I have followed this board have a failure rate of 90%. Donât blame you as you are just repeating and believing what Les is feeding you.
But do agree, the sooner MDMN is gone the better for all.
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You do know that NoDoubt is an old shareholder friend of mine, right? He has been around since almost the beginning like myself. He decided to be on the other side of half empty/half full equation. If that helps him reach his investment goalsâŚso be it.
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I love Mike Gold. We are both here because we believe their are gold in them hills. I am pleased about Aurynâfirst time we have a legitimate partner. When MDMN is no longer, we have a chance to realize wealth.
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Wow MikeâŚI donât think I have ever seen you with this much confidence that our option will exercised. I guess it it just hard to believe, considering what we all have been through. Kinda like being from Missouri and having those âShow Meâ license plates. Just give me .10 and I will be gone forever, and I will pretend it never really happened. Thatâs not asking for too much⌠Is it???
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How did AURYN acquire the surrounding properties that were not mensuras âownedâ by Medinah? Iâm sure other shareholders have pondered this for a while. I think DOC has touched upon the process in Chile several times that offers a probable explanation. If one considers the following, it also explains the apparent lack of promotion by both MDMN and AURYN that largely (or only) reached a dwindling number of ardent shareholders that had lost patience after the previous two suitors to the ADL that were total failures and disappointed shareholders. I have concluded that Chileâs regulations are primarily oriented toward developing promising mining claims in an expeditious manner.
Consider the process of pedimento/manifestacion to mensura. It is entirely plausible that there may have been a âcone of silenceâ so as not to alert landowners and pedimento owners in adjacent properties of the huge potential of the mountain that AURYN was developing. After all, these claims had been sitting largely undeveloped for economic or other reasons allowing AURYN to overstake uncompleted manifestacions, or abandoned claims, even after it was registered as permitted by Chilean law. It is also entirely possible that AURYN patiently waited to gain rights to these properties (as recently announced) due to owners not paying taxes, or otherwise forfeiting interests in the current worldwide unfavorable mining climate. Some were likely just bought out. After gaining first right, as I previously posted, AURYN had â12 months to have the claim surveyed by a government-licensed surveyor, inspected and approved by the national mining service, and affirmed as a mensura (equivalent to a patented claim) by a judge." A patented claim would likely be granted by a judge due to all the âgroundworkâ being done under the adjacent properties fulfilling conditions of the 3 existing option agreements. "Thereafter, an abstract describing the claim is published in Chileâs official mining bulletin (published weekly) and 30 days later the claim is inscribed in the appropriate mining registry.â We saw this announced by AURYN.
Now, where are we in this overall process after AURYN has acquired 100% of the Fortuna, LDM and NUOCO claims? Rumors say this is apparently to the benefit of shareholders (without a great deal of detail publicly announced).
A pedimento is an initial exploration claim. It can be placed on any area, whereas the survey to establish a permanent mensura claim can only be completed on free areas where no other mensuras exist. A pedimento is valid for a maximum of two years. At the end of this period it may either be reduced in size by at least 50% and renewed for an additional two years or entered into the manifestacion process to establish a permanent mensura claim. New pedimentos can overlap existing pedimentos, but the pedimento with the earliest filing date takes precedence providing the claim holder maintains the pedimento in accordance with the mining code and the applicable regulations.
excerpt from 10K filed 05/02/11 by RED METAL RESOURCES, LTD.
(not an endorsement)
Baldy, CHG, mdmnholder, and others have bantered this around for months giving opinions of just how this will be wrapped up. My take on all this is that the remaining option agreement on the ADL will likely be negotiated to conclusion in the next several months, much earlier than the July/August 2017 expiration date as others have expressed. My guess is that MDMN the Company, will have no less than 15% of AURYN, perhaps more, or just an early production percentage and an unknown amount of cash. AURYN will be paying Medinah some early cash to close the option agreement out, plus early production that may take 3-5 years before production on the ADL is flowing enough past exploration stage to pay out dividends. Sooner would be great, but Iâm not counting on it. MDMN will have a few âleft-overâ properties and will continue as a company distributing dividends to shareholders on an on-going basis and will not be just a shell. A TO for all of MDMN âto just go awayâ is the least likely offer to be made. Before AURYN signed on, MDMN had announced itâs intention to become a Capital Company, i.e. a money generating and distributing company. AURYN shares will not be directly distributed to MDMN shareholders. When the projects are well defined with R & R, then a TO will be offered for the 15% and distributed to shareholders. This scenario would allow those wanting to exit at the earliest possible date to exit, and also reward those continuing to stay in to have a much larger return from dividend payments in upcoming years, at least until a TO is offered for the remaining 15% (or more) of AURYN before majors are brought in by AURYN to begin the larger open pit.
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Easy. You are one of the more unappreciated posters on this forum. Your research is excellent. Your opinions are worth noting. Thanks for taking the time.
As to your comments and my opinion.
After seven years in this investment Iâm finally at the point I know where this is headed. I do not know the final outcome but I know we are in for the long haul. I can finally do away with the back door rumors and concentrate on the long term future.
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FYIâŚPretty sure the negotiation phase is over. Recall that an offer was likely made during the last trip to Chile back in the January 17-24 time frame. They have been working on the paper work since that time.
For various reasons, everything needs to be complete by the end of the month besides the final Notario signing in Chile later in April and the actual transfer of funds for the sale of the Alto.
You are being WILDLY pessimistic on the time frame on the cash flow/dividends. HintâŚthey have found a bonanza grade super duper gold vein at the Caren. It is sitting there for the taking. It isnât going to sit there for long! They are going for the highest grade stuff immediately. I believe the actual grades found are higher than what has been reported. (Note: Medinah only gets a cut of what is produced after the Option is exercised.)
Wouldnât surprise me that they will have to have armed guards with guns sitting on top of those wagons loaded with booty as they roll towards Til Til! 
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Hey Mike, any thoughts on the look/feel of mdmn after? Will we be strictly a shell/dividend entity? I just want some assurance that dilution and share issuance is handcuffed
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Iâm open to a much earlier cash flow from the ADL before the 3-5 year timeframe. Just thinking the earliest production will occur on the claims already permitted for production. The really substantial dividends will occur after much larger tonnage of permitting allows for ramped up production. Cash flow from the Fortuna and Caren is likely to occur much earlier with a significant value, however the ADL with increased tonnage will likely take longer and be quite substantial taking more time, IMO. It was the ADL option I was speaking of, not the already concluded agreements of the Fortuna and LDM/NUOCO. Yes, AURYN will go after the highest grades first and shareholders will benefit this year. Your insights are greatly valued Mike.
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I seem to recall someone (maybe CHG or Doc) posting a spreadsheet on early production calculations/variables. As an industry novice, Iâd appreciate any reposts info or crude calculations on how to determine net numbers on early production. ⌠whether itâs at 5000 or 500⌠thanks in advance
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That raises a good question: Do miners who have a âtrack recordâ with governmental permitting authorities get preferential treatment? Seems like thy would, if they have a good track record of doing things by the book and have been trustworthy in the past. Chile has a history of having their heads screwed on right when it comes economics - theyâre trying to ENCOURAGE business (donât faint). But maybe there could be a little parochialism going on between the Lettses who are Peruvian and the Chilean authorities? Weâll see.
They should be able to get a separate 5000 ton/month permit for the Fortuna in the near term and will certainly could be close to 10,000 tons per month by the end of the year. Then the Merlin and other mines can come on line. (The big World Class porphyry target of course is a different animal entirely.) Meantime, all the environmental work that needs to be done for a higher production associated with an onsite production facility will be progressing.
Note: Everything is being combined. Auryn will have 100% of everything. I donât think Medinah will have any remaining interest in NUOCO or LDM when the smoke clears.
This will be the first time that one entity has owned the entire mountain from top to bottom, North to South, East to West. This is an extremely important development for the Major miner(s) that are following the new discoveries very carefully. They like big projects with a lot of buffer surrounding their activities. Little projects are more trouble than they are worth to the them.
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The majors are slow behemoths. They will have to do their extensive due diligence and run it up through the bureaucratic organization lines of approval to even consider acting. I hope we have the super duper gold vein all mined out before they make their first appointment.
Ha! ShhhhâŚdonât tell anyone but who is to say they arenât already there kicking the tires? 
The Alto is like the most beautiful flower in the entire country of Chile that smells/looks amazing and only the best/strongest bees have the privilege of sucking its nectar!
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Mike havenât seen you this happy in a long time. Sure looks like this April meeting is when this will all be finalized and we can sit back away from these boards and enjoy looking at our portfolio instead
Now whereâs CHG big bunny rabbit
Happy Easter to you all!
Great news MikeâŚSince the market is closed today and we are all bored, I will ask the stupid question of the day. Anyone can answer, as it is purely speculative. How long will it take for us to hit .10 ⌠2 weeksâŚ2 monthsâŚ6 monthsâŚ1 yearâŚThat is my exit point. I will probably keep 20% for long term, but frankly I have had enough, and am looking forward to selling most of my position. Thanks everyoneâŚ
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I am hoping for the 3 to 4 cent range when the sale closes in April. I think it may take till next Fall for ten cents assuming Auryn has some great drill results to share on the porphyry and production numbers are looking exciting.
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