You heard completely wrong. Why would you make statements and valuation comparisons based on things you “heard” and that you haven’t vetted and that are ultimately completely incorrect?
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Are you making this statement based on a fact that is known to you to be absolute and true or is the statement simply based on your opinion of what you believe is likely to occur?
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He just made that up. Certainly, neither Medinah or Auryn think it will be that long. I would think there will first be a dividend or two before they get bought out as well.
FYI…from Medinah’s website:
Vittal Karra, Resignation Letter. June 16 2016
Dear Medinah Shareholders and Stakeholders,
I want to thank you for the opportunity to have served as Director, President and Chairman of Medinah Minerals Inc., over the last two years and here with tender my resignation effective June 30, 2016.
Medinah’s sale of the Altos de Lipangue property to AURYN Mining Chile and the progression towards production on the Altos de Lipangue property signals the beginning of the long and much awaited new chapter in Medinah’s long and challenging Journey towards becoming a successful company.
I am very confident and upbeat in the caliber of Medinah board member Gary Goodin, AURYN Mining Chile and its CEO Maurizio Cordova and in that Medinah has a great future and so do all of the stakeholders in Medinah.
Wishing each of you and your families the very best.
Sincerely
Vittal Karra
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Last points I’ll make on MUX in this thread as I don’t want to steer away from MDMN discussion.
SMH…So this is where you got the impression that MUX was in danger of bankruptcy?..Motley Fool’s auto-generated “guru criteria”? Do yourself a favor and put that tool away before you hurt yourself. Or better yet, plug in any mining company and see what results you get. Plug in any company of any industry for that matter. I put in about 8 mining companies off the top of my head and they all sucked according to this tool. In fact MUX looks like a rock star compared to other mining companies I plugged in (NEW, GG, VALE, ABX, IAG, etc.). All it probably means is that there is a certain degree of risk in investing in mining companies.
This tool would’ve had investors avoiding companies that wound up providing 2x-4x returns over the past year. That’s because it doesn’t take into account such things as the price of gold, the macro-economic background that makes mining companies compelling investments, counter-cyclical investment strategies, production increases, all-in-sustaining costs, R&D costs, cost of acquisitions and other extraordinary charges (see MUX’s $350 million in impairment charges in 2014), and so forth.
I could go on, but suffice it to say - there is no auto-generated tool on the market that supplants good old-fashioned research.
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I would think that Johns post is most reasonable. We will not have cash enough to vote on a dividend by shareholders meeting, unless rumors have that there’s money out there. Let’s stick with what we do know and what we know about the contracts, development, production schedule and so forth. I and many other’s do not see enough product unil after the second quarter to support a dividend. So it stands to reason that even though we have been told we would be voting on this subject at the AGM It’s reasonable to suggest that we are looking at the following AGM… IMO
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? You and “many others” are just as out to lunch as John is. 18 months is complete bunk.
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If you don’t like an opinion feel free to ignore it.
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If your comment is referring back to BE’s statement, it was posted as a fact and not an opinion. That’s the reason I was asking BE for a clarification on his statement to determine if he meant to state an opinion but accidently offered it as more of a statement of fact. Until he provides an answer then you are suggesting to feel free to ignore what appears to be written as a statement of fact, not an opinion.
So, MG, it is my understanding that you are of the opinion that, even if “it’s not gonna be that long” as you say, it’s nevertheless gonna be longer than 18 months… actually long enough to be able to collect one or two divs.
Did I read you correctly?
When it says production begins on August 22nd does this mean digging begins or the rock is taken for crushing? Thanks
The mine plan for the early production has been made public. Based on the numbers provided it would be HIGHLY unlikely for any cash flows through the end of next year to be used for dividends. It’s also been publicly announced that cash flow will be used for the express purpose of self funding exploration.
In stating the obvious, everyone’s contribution here is based on opinion. Some opinions have been more realistic and reliable over others and participants here can make their own decision on which to rely.
Then there are those who never offer any opinions but solely critique/comment those who are contributing. The only redeeming quality I can find in this peanut gallery is that they finally capitulated on the need to replace the BOD. Only took them a decade.
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To be more clear…Auryn is being conservative on the amount of gold/revenue that is going to be produced from their mining operation(s). Very significant cash flow could well be realized starting this Fall. As such cash flow could end up in Medinah’s hands sooner rather than later to be used for dividends, share buyback or both. The Merlin will quickly become the highest grade gold mine currently in operation in Chile.
There is no basis in fact to speculate that dividends won’t materialize for 18+ months. He made that up out of thin air. For that to happen, production would have to be delayed, disappointing grades encountered, new increased production permits not obtained, and failure of Auryn to open up additional mines besides the Merlin like the Fortuna.
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I’m happy with them being conservative, beats the opposite. I prefer my companies to exceed their goals. Just saying
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MGold. Looks like you are the one speculating. One thing that’s clear based on all of your failed predictions as of late: you aren’t speaking to Auryn and your opinions are still reliant on LP’s input. Not sure why you continue down that road but you’d be better served to get your “datapoints” elsewhere.
There are no plans for dividends in the short/medium term and I’d advise you follow the public updates which clearly confirm the same.
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My confusion was based on some of your past post where you referenced some here, including yourself, as having the ability to work to accomplish in depth due diligence and uncovering information long before others come by it. When someone, such as yourself, claims to have that ability and then makes an unequivocal statement like the one you offered it can easily be seen as claiming a fact in the statement and less of an opinion. Thanks for clarifying that you were not stating a known fact but simply offering your reasoned opinion.
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Absolutely. Legitimate companies under promise and over deliver. It’s going to be hard for some people to adjust their mindset but it’s an imperative step if you’re invested here.
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