Care to expand on the “holes”? It reads as though your main argument as to why MDMN should be trading higher is because “associates” of the Letts were willing to pay higher prices when front ruining news on a penny stock. As soon as Roberto was added to the BOD the stock tanked (massive insider selling IMO). I wouldn’t base any assumptions that’s Robertos’s second cousin knew how to value MDMN any better than you or I when she bought shares at 7 cents. Uncle Roberto yelling “feito, feito, feito” over a bowl of Ceviche isn’t any different than Chapin claiming “done, done, done” in front of a group of eager MDMN shareholders who raced out and bought shares at 12 cents. Should we be worth 12cents?
Never listen to someone like Doc who claims the market is dumb and we/he are right. Claiming the market is wrong is the single quickest way to losing money. There are obvious short term imbalances in the market but they don’t play out for years at a time.
We simply need more results (not grab samples, or satellite imagery, or sporadic drill results that make it impossible to define a resource).The stock will go parabolic once we do. Enjoy your summer break.
Thanks and I already am and will continue to enjoy my summer break… as a matter of fact I am already booked to go to some exotic islands in the middle of the Atlantic, but that’s not the point I am trying to make.
John, I concur with what you say, the only point that leaves me a bit perplex is associating the word “parabolic” with a possible 15 - 20 cents exit valuation, in spite of the gazillion count of shares currently outstanding.
Yes, you might say that from the current valuation, 15 - 20 cents is a 10+ bagger, yet it’s still hard to digest knowing what is the potential of the deposit we own.
Don’t get me wrong, I’ll make quite a pretty penny at 15 cents and even a prettier one at 20 cents, it’s only that I can’t wrap my head around “parabolic” and 15/20 cents.
Why speculate when you don’t know what price was paid for JJ’s shares? Share price will remain range bound until the MARKET has a reason to value it higher via proving up resources, and real profits. It is that simple.
Gold down through the 50 DMA this morning. Expect more weakness going into the Fed ‘rate hike’ June meeting.
If they do, and keep talking more hikes later in the year, expect dollar stronger, gold in dollars weaker.
If they fold, expect gold to recover somewhat or at least stabilize.
until the next phase of instability there is not much to drive gold up farther. the Q1 rapid rise was at least 50% the commodity spike seen in iron, copper, etc. that was due to the rabid Chinese commodity speculation event that occurred for a couple of months. That was tamped down by authorities and base metal commodities have fallen hard since. Iron is down 30%. Copper is back below $2.10 after their Q1 rise.
So the commodity part of gold is sinking back and could dominate matters with a falling POG until the next real phase of instability breaks out … somewhere. it’s a matter of time. imo.
MDMN is fairly independent of the POG in that Auryn progress will drive the SP once it builds momentum. A rising POG will raise the odds of a more rapid rise or even some speculative phase. Right now the ‘getting started’ phase of Auryn coinciding with a short term down phase in POG is fine. The odds are good imo Auryn’s progress and the POG turning back up will work together and finally give us some positive momentum.
Your opinion is only “balanced” in your own eyes. Some think it’s balance, others don’t. Just cause someone differs with your view doesn’t make their opinion extreme. The fact is you don’t know what price was paid. Unfortunately, I have found your ranting mostly being upset with what you believe should be the current state of things based on the Vancouver mill, not based on reality.
The original Juan share deal was announced on February 4, 2015. The share price was trading around 4 cents.
The rumors at the time put the deal considerable higher than the current share price. Further, the terms may have been sweetened when a revised deal was struck during the Summer. I think it highly unlikely that Juan sold his shares to Auryn recently for less than the agreed upon amount last Summer.
I would ignore any of the attempts of valuation that BE, Corn, Wizard etc have alluded to and instead focus on whom is the best position to make an accurate valuation…and that would be Auryn.
The fact that they very likely paid considerably higher than the current share price for those shares is the best indication we have that Medinah has been, and continues to be highly undervalued.
(Of course a World Class Property like that Alto that likely contains more than one World Class Deposit within the claim boundaries, with higher than normal grades located in a very mining friendly location in a politically stable country should be taken into account as well!)
It is very unfortunate we don’t know what Auryn actually paid Juan but hopefully something will slip out. The fact that the price that was paid seems to be a well guarded secret is suggestive in itself that Auryn paid a nice premium for them.
Did anyone notice that Auryn’s website now has the same photos on their front page, as Medinah’s website does. Can’t they get some new photos??? Where is some volume???
Does the fact that Auryn has probably invested up to 10 million so far into our project, figure into the share price? Or it just does not matter, until something significant is found and reported?
