What a way to start the day! Was the Hochschild connection a complete surprise?
If one has been following the breadcrumbs, the planning of this potential JV was long in the planning stage. DOC asked the question back in 2015 “Why hire Hochschild’s Luciano Bocanegra (porphyry expert) unless you already knew that you have an “Andesitic porphyry” in the western areas of the Cu/Au variety and a “Monzodioritic porphyry” to the east of the Cu/Mo variety?” One might also recall Dr. Jannas. He was previously employed as Vice President-Exploration & Geology by Hochschild Mining Plc. You will remember from an AURYN announcements early last year:
Dr. Jannas received his undergraduate degree from the University of Chile and a doctorate degree from Harvard University.
District-wide Analysis Planned for February
Dr. Jannas will work with other mining engineers, geologists, and consultants during the month of February to help AURYN determine the best strategy for expanding and developing the project.
I had surmised last year the cash call was to clear debt on financial statements in preparation for going public and separating the corporation’s books from MASGLAS. This needs clarification from management as it appeared to me that AURYN is not longer structured as a subsidiary of MASGLAS. Also in the news, immediately after the cash call AURYN announced:
Auryn CEO, Maurizio Cordova, and consulting geologist, Dr. Raymond Jannas, will accompany Dr. Sillitoe as he reviews Auryn’s exploration data and tours the property. Dr. Sillitoe will produce an evaluation report of the Altos de Lipangue Mining District at Auryn’s request.
Hochschild is not going into this LOI blindly. What have those previously employed by Hochschild conveyed to current Hochschild decision makers?. Does anyone still question if Dr. Sillitoe internal report has led to nothing happening on the ALTO?
There was also an article in the January 2016 Chile Explore Report titled “Industry crisis creating opportunities for newcomers” that briefly mentioned among other things, the LDM (see page 5-7):
Finally, work is continuing to identify mineralization at the Dos Marias site. Previous work concentrated on near- surface veins but geologists now believe they are in the presence of a stratabound -type copper deposit similar to others in Central Chile’s coastal range.
http://cexr.cl/wp-content/uploads/2016/01/CER34-ENG-SAMPLE.pdf
There is a wealth of information posted previously on this forum by many posters if one is willing to overlook the frustration that has also been expressed. One should especially look at all the information previously posted by AURYN prior to the severe setbacks shareholders experienced starting in early 2016. Many issues have thankfully been resolved. At the end of last year Maurizio Cordova had a message to all shareholders I think is especially appropriate for today.
Along with the Medinah shareholders, AURYN was also impacted by Price’s misrepresentations. AURYN, could have abandoned the Medinah and Cerro shareholders, but chose to treat everyone fairly, the same way we hope to be treated. With the best efforts and support of Gary Goodin, Italo Volante, Raul del Solar, Kevin Tupper, and friends of the companies, we now finally turn the page on the old and look forward to a very bright future for those who have invested in the Altos de Lipangue mining district.