Pretty to see these accounts coming back a little bit! About time.
Let’s hear about the other properties and potential production!
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Not much selling going on so may take a nice jump. 
So if you buy 1 mil shares of MDMN after the conversion you would have roughly 5800?
Sounds right to me.
I take it you’re liking the current share structure much more now?
Do you have a comment/opinion concerning the PN? It was reported in the Chile Explore Report in March of last year …
The project has already attracted the interest of some major mining companies. Representatives from Freeport-McMoRan (NYSE) were recently on site to assess the Pegaso Nero and Dos Marias targets, where the presence of molibdenite and tourmaline breccias could indicate a porphyry system. The companies have signed a confidentiality agreement.
Looks like the PN may still be unspoken for, or is it?
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Based upon my understanding of Wiz’s post, you multiply the number of shares you own by .00558 to get the number of CDCHD/AUMC shares.
1,000,000 * .00558 = 5,580 shares of CDCHD per million MDMN shares.
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$23M / 9% implies $256M
The $30M total is very similar to the numbers thrown around re. the LDM a few years ago by the old TMP user rumored to be Mr. Letts associated with Volcan. I think one can pretty much assume the $7M is spending to make a production decision (within 5 years) and the $23M could be startup of modest production if called for.
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So with CDCHD at .60 it makes more sense to buy those shares directly at this point. With MDMN at .005 it costs $5,000 to get a 1,000,000 shares which turns into 5,580 of CDCHD. If you buy CDCHD directly at .60 you can get 8300 shares for $5,000.
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Exactly. There will be arbitraging going on while we wait for everything to be placed under one roof.
P.S. Thanks to the moderators who have kept this site alive and to those who pay the bills via their occasional visit to relevant ads.
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I was thinking the exact same thing, but it also reminded of Volcan/Letts Family and that they too had ties as I recall to Hochschild.
Sorry, up above where you mentioned buying some at .60 I thought you were talking about MDMN - haha!
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Is that a case of under promise, over deliver?
Mark, during the informational meeting you had posted:
If all the variables turn out for the positive it could become a “world class” gold deposit - that’s without the PN, the LDM, the Gordon etc.
and
The Pegaso Nero has the interest of 3 major companies, one of them being Freeport McMoran (the other 2 being “as big or bigger” than FM, but remained unnamed).
I think it is now safe to assume Hochschild is one of the 2 “as big or bigger” major companies Mr. Cordova had referred to.
Just wondering if Freeport McMoran still has an interest or as you had also posted:
Auryn is not satisfied with the historical “dream holes” on the LDM and the interpretation of the LDM. They are re-interpreting what is going on there as they have previously stated publicly. Obviously the LDM is not front and center as we thought it might once be. However Auryn seems quite optimistic about it in the longer term. Maurizio said there is plenty of work and plenty of unknowns and risk there but it not impossible that Auryn could eventually put the LDM in to production themselves.
Well, that last possibility on the LDM is still good for 49% (or 40%). Perhaps the PN will land Freeport McMoran after all, or that other “big or bigger” major. I think anyone that didn’t attend the Informational Meeting in 2016 would find rereading the Oct 1st, Informational News thread quite interesting and informative. Also, I found this archived Linkedin post of Luciano Bocanegra quite revealing of his work at Hochschild, before coming on board to work for AURYN to lead the initial exploration work:
Summary
I am an exploration geologist with 11 years experience in the mining industry, principally in project evaluation and progress through an integrated geological analysis. I am specialized in the exploration of porphyry copper (Mo-Au), porphyry Au-Cu and epithermal systems (Au-Ag). I have very well developed skills in surface mapping (lithology, hydrothermal alteration and mineralization), sampling, core logging, targeting, and vectoring in porphyry and epithermal systems. I have also experience in bauxite, diamonds, iron ore and alluvial gold exploration. I have a proactive attitude towards team work, leadership ability, analytic and with great aptitude on new opportunities generation. Compliant and versatile to role changes.Experience
HOCHSCHILD MINING
Senior GeologistHOCHSCHILD MINING
January 2012 – December 2014 (3 years) Chile
Leading the generation of new projects and business opportunities.
Leader of two simultaneous projects in the Maricunga Porphyry Au-Cu Belt.HOCHSCHILD MINING
Geólogo SeniorHOCHSCHILD MINING
September 2009 – December 2011 (2 years 4 months) Argentina
Project GeologistRIO TINTO
August 2005 – January 2009 (3 years 6 months) Argentina
Exploration Geologist
TORELLO HNOS S.A.
March 2003 – July 2005 (2 years 5 months) Argentina
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Concerning the amount of property included in this agreement. Looking at the map provided in the news release it appears that this agreement only covers about 40% of the entire property. I’m not trying to say these values offered are only about 40% of the potential value of the stock, but there is a large amount of claims remaining available for other ventures and should ultimately add additional value to the stock . 
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Going by the coordinates on the map, it looks to me they basically split the mountain in two. What they are calling the ‘LDM’ is basically everything that isn’t the Caren and Fortuna and associated stuff to the south. This is the map I came up with. It’s not exact. But I think you can assume the Caren forms the upper left point of that jagged diagonal line, which probably follows the Merlin 1 vein.
[UPDATED PN LOCATION]
Pretty clearly, the original ‘LDM’, the Pegaso Nero, and probably the Gordon Pipe area are all included in the JV (3000 hectares). All of this is titled the “currently named LDM project” in the PR. Yellow marks indicate those new claims that were published this past May, obviously filling in some properties for the JV.
That leaves some 7500+ hectares for Auryn including the Caren, Merlin 1 (2, 3, 4, etc veins) and Fortuna plus quite a lot of undefined / unexplored stuff to the south going down the side of the mountain from there.
This is in line with what Auryn said in December. All along they have been interested in putting the gold into production, looking for a JV partner for the PN and/or other targets.
The ‘LDM’ focus of the announcement tells you H’s immediate interest, the potential for an LDM gold/copper skarn.
It is still the case that the PN is probably the most difficult and most expensive target on the mountain tied to the prevailing theory of an underlying large porphyry system. It could / will probably take another bigger partner to explore / do something with the PN and the long term copper potential. So I would guess there could be future JVs potentially after H gets their 51% or 60%.
Note they could spend $7M and decide they don’t want to try and put the skarn into production, but still own 41% of that 3000 hectares. And they and Auryn could turn around and JV the PN to a bigger partner, with $7M of exploration already done, and potentially still make out with the copper / moly porphyry. Else if they define a nice skarn project and decide to spend that extra $23M, they can go into production for a while and JV at any time or explore themselves if interested.
In fact, you can note they basically split the south side of the mountain in two. If there is a porphyry right there where the Pegaso Nero is pointed, the property of both companies would obviously be involved in any future JV / mine etc. having to do with that target.
Hochschild has $750M in annual revenue or so. Legit to be sure and profitable (about $50M last year). On the other hand Freeport has about $16,000M ($16B) in revenue, so they are much much larger. I would guess Auryn got a better deal going this route than with FCM or anyone larger, being able to retain the potential gold production and 40% of the JV property worst case.
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The problem is how many share are/or will trade at .60 while there are millions of MDMN shares trading. I am with the wizard, this is gonna be a bumpy ride for a spell… A nice problem to have for a change… Im thinking more news to come
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It sure would be nice to see “Friends and Family” start to average down…
Thanks for the clear rendition of where things landed in this LOI! Adding the recently acquired claims in your map shows the expansion that added value for this potential JV. Back in 2015 you had a really detailed “view” of the information on the LDM when you posted an image detailing available information at the time. (Note the image below is portrayed “upside down” with South at the top):
Your DD adds greatly to this forum and is very appreciated!
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Does anyone have an opinion why they only are interested in this portion of the LDM?
Could be the that Freeport took the other 1/2 
and they’re just waiting to announce it. jmo
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Nice! However, the Pegaso Nero appears to be in the wrong location. It is not SW of the Gordon it is SE. Eye balling it I believe is part of the claims package that doesn’t have an announced partner. Please double check its location. It is an important point as we really need a whole exploration program/partner just for that target. Thanks! (Note: For example, look at page 7 of this slide show for it’s location : ALTOS DE LIPANGUE PROJECT )
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