There are unintelligent lowlifes and intelligent lowlifes that prey on peoples desperations. Just saying!!
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Great update on Auryn websiteā¦Our first forward looking guidance, and it is well doneā¦There is a new Sheriff in town and it is not Reggie Hammond. (48 Hours)
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"AURYN is also preparing the required mining application in order to obtain the required permitting for an open pit at the Fortuna de Lampa historical mine site.
After permitting is obtained, the mine preparation will follow, and production is expected to start during 2017. Actual production from this site has not been taken into account for our preliminary 2017 production estimate. We will update as soon as we have this data available."
Anyone know minimum tonnage permited for an open pit mine in Chile?. 5,000 TPM would seem very small
I believe it will be 5,000 tpm to start.
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Isnāt that fairly fast turn-around to expect permitting to be approved so they can start operations on the open pit mine in 2017???
Yes, a fairly fast turn-around, but not if they are using a chemical free processing method like the Falcon SB concentrator (or one of the other models) to preprocess as a concentrate before shipping to ENAMI.
- KEY ADVANTAGES
ā¢ Unit capacities up to 400 t/h
ā¢ The variable frequency drive (VFD) and a dynamic breaking
system are used to greatly reduce offline time for concentrate
flushing
ā¢ Flat lid modular design increases wear life and reduces downtime
as well as maintenance costs
ā¢ Upgraded standard fluidization control results in a higher degree
of machine management
ā¢ High G forces (highest in the mineral processing industry) allow
for higher efficiency and the recovery of very fine material
ā¢ Reduced water consumption as only the pertinent collection zone
section of the bowl is fluidized
ā¢ Greater than 95% mechanical availability, extremely low
operating costs
ā¢ Fully automated, āone touchā operation that provides the least
amount of offline time and highest possible concentrate security
ā¦ The target mineral will usually be in extremely low concentration (grams per tonne) and a very high upgrade is desired (up to 10,000x).
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These guys are not messing around! They mean business!
Iām sure it is a case by case basis. The new Hecla open pit (San Sebastian) which I have referred to multiple times, is about 12,000 tpm so this would be roughly half that. So itās not an absurd number. But it would be surprising if they did not have the intention to increase it over time assuming the mineralization available supports it and permitting is achievable.
Even semi-modest typical open pits can be multiple thousands of tonnes per day. A huge open pit copper mine can be tens of thousands of tonnes per day.
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The new era of mining:
āCapitalization and conservative money management is a key pillar of the AURYN business plan.ā
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Whether Les is viewed as an intelligent lowlife or unintelligent doesnāt matter much, thankfully. The point remains, the desperate no longer need to be reliant upon him in his ever increasing state of irrelevance. Unfortunately, as the saying goes āA dog returns to his vomitā¦ā
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I donāt know how many people were so desperate that they depended on him. Were you one of the those???
Financing for operations will continue to be secured by MASGLAS until
AURYN becomes cash flow positive. The terms of the financing are
extremely favorable for AURYN. Any required cash is interest free until
July 2017. After that interest will be LIBOR plus 4%, and debt
repayment will occur with a portion of the revenue generated by the
early production. Capitalization and conservative money management is a
key pillar of the AURYN business plan.
To anyone concerned about Medinahās equity position being dilutable, it sure sounds from this explanation that MASGLAS is financing operations for Auryn and being paid back by revenues.
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AURYN forecasts a positive cash flow from these activities which will be reinvested in exploration on the Altos de Lipangue targets that have been defined by our geology experts. Drilling will be scheduled on the remaining four identified high grade gold veins at the Caren-Merlin site.
Extremely pleased with the update. Also very clear on how the proceeds will be used. Cash divs, if any, will be part of 2017 if not later, IMHO.
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Well presented information, open pit! Looks like the cornerstone has been placed today.
It looks like Chile is at 3.5% LIBOR plus 4% or 7.5% back to Masglas?
Not bad and should decrease the NOI substantially to shareholders dividends? 
ļø
Far more reasonable terms than the ones MDMN shareholders were getting previously. 
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Noticed this bit of new (I think) info on the Masglas About Us page:
MASGLAS is also negotiating at the present time, the acquisition of 100% interest in two mining projects, which are scheduled to be closed on or before July, 2016.
With the acquisition of said projects, MASGLAS will hold in excess of 50,000 hectares of mining properties across Chile.
All of their non-Alto projects are about 30,000 hectares
The Alto is now called 10,500 hectares (not sure if this is just more precision or they added another claim or two)
These new additions must be about 10,000 more hectares to add up to 50K+
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Kevin can I get your thoughts on what the upcoming AGM will cover now that this info from Auryn has been released Tia
MASGLAS is building a very real mining company. 
AURYN / ADL is the only one that will benefit us (MDMN shareholders.) Nevertheless it is good to know there is a solid company behind all of this.
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