My understanding is Nuoco does not own any shares in AMC. The shareholders of NUOCO were private individuals and their 85% was bought out with AMC stock. MDMN still retains its 15% of NUOCO, of course.
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About what I expected! Good to great news!
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OK - See updated version for comment
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All these updates need to hit the news wires asap.
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NEW YORK , May 16, 2016 /CNW/ - Prices for gold have rallied on increased demand for safe haven investments from equity market turmoil, and these unusual market conditions have increased expectations for more mergers and acquisition deals within the gold market. Tahoe Resources Inc. (THO.TO), Kaminak Gold Corporation (KAM.V), Goldcorp Inc. (TSX:G.TO), Market Vectors Junior Gold Miners ETF (GDXJ), Brazil Resources Inc. (BRI.V)
Earlier in February Tahoe Resources Inc. agreed to acquire Toronto -based miner Lake Shore Gold Corp. in a $552 million all-share deal. Then just last week Kaminak Gold Corporation announced that the company will be acquired by Goldcorp Inc. for a deal approximately $520million Canadian.
Goldcorpâs strategy of using the infrastructure developed by smaller exploration companies to then identify and develop their mining projects. For example, Kaminakâs âThe Coffee Goldâ project is located in a suitable territory easily accessible from Dawson City, Yukon Territory in Canada , which is located very close to the Alaskan border, and provides Goldcorp with high quality development project at low sustaining costs.
Large Gold companies with a strong balance sheet and cash can afford to buy assets that strengthen their production portfolios. The fact that the gold sector market share will remain diversified only supports this strategy. According to research by BMI, the top 10 gold producers account for only 25% of global output.
As a result, Junior Gold Miners have become quite popular, and shares of the Market Vectors Junior Gold Miners ETF (GDXJ) have increased in value by 94% year to date. Some junior gold companies have witnessed astonishing rallies, like Brazil Resources Inc., shares of this company have surged 240% since January.
Brazil Resources Inc. focuses on the acquisition and development of projects in emerging producing gold districts in Brazil , Paraguay and other regions of the Americas. One of the companyâs new projects, Whistler gold-copper project, was acquired from Kiska Metals Corp. pursuant to an asset purchase agreement in August 2015 . The Whistler Project is located in South Central Alaska approximately 150 km northwest of Anchorage, with 75% recovery rate for gold and silver, 85% recovery for copper.
Last week gold jumped back to the high end range as a weakening dollar and bearish earnings continued to weigh on equity markets. Gold companies, despite already high returns since the beginning of the year, still have a bullish underlying trend, as worries regarding the performance of the stock market create a need for risk aversion.
Nice bid at .017 for 550000 this is just great news knowing that our interests are finally aligned with Masglas and AMC
Didnât last long as someone just sold into it
Cutoff grade is interesting and production should begin in August and build toward 5,000 tonnes per month by November to January ----5,000 tons per month. AURYNâs engineers plan to achieve this level of production within the next 6 to 8 months with a cut-off grade of 15 g/t of gold once production begins.
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Masglas owning 412 million shares do they need to acquire anymore to give them full control of medinah?
Your take looks to be correct when you read, " after the first quarter of full production. " Any sooner than that it would have more likely read âafter a full quarter of productionâ, which it did not.
It appears most of the key discussion on production leading to dividends are as follows:
âPeruvian experts in underground mining. They have completed the project engineering and mining layout.â
âWe expect to start mine preparation during the second week of June. Mine preparation will take approximately two months.â
âAURYN expects to produce a total of 5,000 troy ounces of gold in 2016 and over 25,000 troy ounces in 2017.â
âAURYNâs engineers plan to achieve this level of production within the next 6 to 8 months with a cut-off grade of 15 g/t of gold once production begins.â
âAs we progress toward full scale production AURYN will provide updates regarding costs, mine life, and reserves.â
âIn addition, we will be updating our shareholders regarding possible cash distributions after the first quarter of full production.â
Auryn has now committed to proving to providing Aurynâs shareholders with update and based on their follow through to day, Iâm looking forward to a productive and informed future.
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So early revenue projections with semi-stable POG:
2016 - $6.4M
2017 - $32M
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If there are indeed a large amount of shorts out there, is this the type of news that could warrant a short squeeze?
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I noticed the 15g/t cut off grade as well. It must be very difficult mining or a sharp cut off in vein grade to not have a cut off grade down to at least 5g/t. Or, given the production limits, they are just going to "high gradeâ the deposit.
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IMO, thatâs because they are very narrow quartz veins. As we have seen in the sample reports the intersections vary from 0.5m to 2.0m. This is consistent with the nature of the Fortuna mine where at the south end (or maybe it was the north end) the vein got down to 10 cm in width but was > 60 g/t.
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Well somebody is working hard to drop the S.P
Agreed CHG, havenât been following very closely lately, just letting the cards fall when and as they do.
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Whatâs the Level 2 look like ?
THANKS
Can someone please explain with the great news we got this morning we are going backwards? There is over 2 million shares for sale to .02
Maybe itâs all those people that were waiting on that upfront cash payment that some were erroneously forecasting.
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With Auryn holding 412 M shares or about 30% of MDMN stock Auryn could simply pay MDMN a cash dividend on only the shares they do not hold. In other words by their ownership of MDMN they reduce the total cash dividend payout by 30% when and if they become payable.
I still look forward to the day when there are actual cash payouts, it will be interesting to see the market reaction when that day comes!
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