I rarely talk about the share price and have not discussed NSS since I below a gasket at BB some months ago. And yes, I am holding and adding small amounts here or there.
But some of the items MG brought up are valid but the deal just closed so I say give it time. Frankly, MDMN should have negotitated the disclosure of some of the items.
But what would be price moving and something I would recommend Auryn/Masglas do is host a conference call with presentation/deck showing management team, financials/summary projections, stage of exploration/development of the various properties and plans for how value will be created and how MDMN shareholders will benefit.
Those low grade bird fart potential mines really shouldnât be used as a comparison to the Alto/Medinah.
A review of the information that is available on the Alto and previous discussion with geologists make it fairly clearly that the Alto is likely the best of the best of the best in S. American for a new greenfield mine. Sooner or later it will receive the valuation that it deserves.
It is rather frustrating for me the Auryn hasnât quite yet demonstrated to the rest of the mining community but I suppose some patience is in order. (Where does one find more patience after all those years watching paint dry with Medinah?)
They must do some drilling to better quantify the several million ounces of high grade gold on the Plateau and of course drill at least one of the porphyry targets on the property such as the Pegaso targetâŚand hit the almost mythical 1000 meter intersection of 1+% copper or perhaps sink a few holes in what is perhaps the largest skarn remaining in S.A at the LDM.
One of these daysâŚthis dog will have itâs day!
I think one could go back in time to the whole Juan shares fiasco to place blame regarding circumstances that occurred later for any number of issues. This threw a big curve ball in Aurynâs plans, caused the Lettsâs to walk etc, generated lots of bad feelings/ and Medinah ended up being reluctant to shell out the money to have this done most likely because they wanted Auryn to exercise the option first or maybe Greg etc got tired of taking more money out of his own pocket. I should mention that a fair amount of the porphyry target was already owned by Auryn so I donât know the specific reason that kept them with proceeding/obtaining surface right with their side of the fence.
Not sure if Iâm reading this correctly but does the 5M shares option for $50M presuppose an eventual possible valuation of $10/share?? Can you clarify? TIA.
Had a series of meetings yesterday with several companies in the $75-$150M market cap range. Brazil Resources ($140M) spent most of time discussing the Whistler project in Alaska which they managed to acquire for $1.5M (thatâs 30 cents an ounce). This is a low grade project that will cost a billion in CAPEX which is exactly why Amir and crew made the purchase (most undervalued segment of precious metals). The guys at First Finance have gone from paying, on average $10 per in situ to, $18 on the last deal and they indicated that sellers have become more âfirm.â
If I put my trading hat on, I think gold trades back to the $1180-$1200 level before $1400 but the overall environment and confidence of the juniors has improved. The bottom has been made.
A current valuation of $100M for AMC seems a bit rich but when you consider that weâve barely scratched the surface and are limited to historical drilling/grab samples, the potential for exponential valuation growth is more probable when it comes to MDMN vs. many other more established juniors that are currently supporting $100M+ market caps.
Unfortunately, it reads as though many people invested here donât appreciate that the market rarely rewards a 20 year mining play for âpotential.â We need actual results.
Brazil resources had spent more than C$50-million on previous exploration work on the Whistler project, which included about 70 000 m of diamond drilling with 7 078 m (14 holes) of this total completed at the Raintree West deposit.
Iâm not exactly clear on the precise point you were trying to make. And this entire topic probably doesnât matter to many here. But that article you reference is in error.
On May 17, 2016 BRIZF announced a new resource estimate for the Raintree West deposit on the Whistler project. {1} In that announcement they stated:
Over C$50 million spent on prior exploration work on the Whistler project, which included approximately 70,000 metres of diamond drilling with 7,078 metres (14 holes) of this total completed at the Raintree West deposit
Mining Weekly assumed that this referred to money spent by BRIZF. But that is false. BRIZF acquired the project from Kiska Metals Corp in summer 2015. {2}
Kiska Metals is the company who explored the property from 2009 to 2011 spending most or all of that C$50M and then stopped as the market fell out from under large porphyry projects and then sold it to Brazil Resources on the cheap in 2015 in order to improve their own balance sheet. Brazil Resources bought the project in an all-stock transaction of 3.5M shares which were at about $0.45 at the time, so for a little over $1.6M. It will most likely prove to be quite a timely buy in the long run.
Tying it back to the MDMN SP discussion:
BRIZF is non-producing, but has many many tens of thousands of meters drilled and millions of ounces of Au in formal resources and reserves on multiple projects, and their market cap is $100M. They are an example of a company that is doing something similar to what Auryn is doing: buy projects on the cheap in a down market to work up or sell later.
But Auryn will beat BRIZF to meaningful production. And thatâs when Auryn / MDMN will enter into a new phase of discussion and a new valuation.
The timeline has been laid out for us: 5000 Oz in 2016, 25,000 Oz in 2017. As progress is made and production begins in late Q3 and results appear in Q4, outsiders will start to listen to the 2017 outlook and the SP will respond. I expect SP progress by Q4 for sure with plenty of upside from there.
This is the post to understand. Nothing changes in share price until this company produces gold/silver ounces. In addition, the MDMN moniker needs to disappear forever. Minus a complete buyout of our shares, only then, will the share price make a permanent move north.
Yes I am totally aware of what you posted,. I posted it because they did spent $50 M in drilling for 14 holes which seems like a lot in a very short period of time. My point, which I was probably unclear about, is that if you look at their stock price prior to the acquisition which was all the stock (3.5 M shares) they were trading at about .
30 - .40 and since then the stock now trades at $1.00. I was just thinking what we might be worth if Auryn spent that kind of money on proving up our reserves.( I should say their reserves)
So, our investment will âmost likelyâ stay in this trading range until later this year. It is such a shame that we all had so many âwasted yearsâ of being invested, along with huge loses. At his point, unless you are willing to wait several years (which I personally am) you will not only suffer a huge loss, but will never make up what that money might have made in another investment. NOW is the time to have first learned about mdmn and invest. We will now be valued on merit and be results oriented, but at the same time need to attract new investors. This is a fabulous time for new investors to enter. Where are they??? As I have said before, we were just way too early to the partyâŚ
WellâŚI think Auryn is getting ready to start a new drill program that will sextuple the amount of drilling they have already done to date. Now that they have consolidated the entire mountain and booted Juan off it, there is every reason to hope/expect them to finally kick exploration into high gear at the level that the Alto deserves and what shareholders have been waiting for years.
BRI didnât spend any money on the 70k meters/$50M. They acquired Whistler for $1.5M in equity equivalent after all of those expenses had already occurred. The stock has tripled along with most of the sector. If you include their Brazilian portfolio the company is currently valued at around $10 an ounce/in situ.
I donât bring this up specifically to you, but in general, there seems to be a major need for participants here to better understand how to value the investment. Way too many years of âknowledgeable postersâ throwing out pie in sky numbers to an audience looking for quick score. The major âdisconnectâ for now, is reigning in peopleâs expectations for fair maket value. To CHGâs earlier post, a $25M market cap for MDMN is not ridiculous until we have a lot more results.
There are dozens of example, like BRI, that can be referenced to underscore this point. Otherwise, we can incessantly blame the evil maker maker or claim we are smarter than the market. Thatâs a losing strategy IMO
Right you are Mike! Spelled out in the recent AURYN update:
With the closing of this agreement, AURYN has full control over the project.
⌠The cash flow generated from production at the Caren Mine will fund an aggressive exploration program of the Pegaso Nero and further drilling of the Merlin-Fortuna targets. The Pegaso Nero target has great potential to begin proving up a mineralized porphyry.
As we progress toward full scale production AURYN will provide updates regarding costs, mine life, and reserves. In addition, we will be updating our shareholders regarding possible cash distributions after the first quarter of full production. http://aurynmining.com/category/news/