The Mining Play

Medinah/Auryn - 2018 Q3 General Discussion


#384

Actually, the amount of bitching is probably nearing an all time low. I suspect a very active and outgoing Auryn is about to emerge so this would be time to attempt to gain a wider audience.

After all, exploration work on the mountain is slated to begin as early next week. Further, the traditional slow mining investment season is over after Labor day so expect things to pick up.


#385

Haha, thanks to whoever bought the 100 shares to reach the psychological milestone of the elusive $1.00!


#386

Awesome, there’s more…


#387

I, like many others, I’m sure, am facing this same dilemma. My shares are in my retirement account. I still have the shares but I have been restricted from buying more for quite some time now. I fear that one of these days I’m gonna be forced to sell. I’m no legal eagle, but it seems to me there is grounds for a lawsuit here. I get that brokerage firms don’t want to play with stinky pinkies, but if we already own the stock, why must we be forced to sell? Like theoz97 and others, if I’m forced to sell and then, down the road MDMN finally pops, I’m going to be beyond pissed and looking for restitution. Any legal minds here with an opinion? Vark


#388

Deleted by me.


#389

I don’t have a legal mind, but I have been in this situation a couple times with other stocks and merely mentioned the idea of talking to a lawyer while on the line with a rep from the broker and that seemed to help remove a few barriers at the time. Worth a shot, just have to be smart about it and not make it an out and out threat… just hint at it and that could be enough.


#390

1.19 ahhh could you imagine where our accounts would be today without the RS


#391

Right back where we started price wise. I was going to buy more until BE came up with tax loss selling suggestion I figured his groupies would follow
We need conversion


#392

Seems like a good time to buy MDMN. If the price of CDCHD holds up, it is a nice gain once it all gets converted in a few weeks.


#393

According to my calculation MDMN should be selling in the range of .006 - .007 .


#394

A few people have asked me about my comments regarding the conversion, whether they should sell one and buy the other to take advantage of tax losses, and other thoughts about the future.

Let me restate my thoughts on some of this in one place so it’s clear.

This is what Medinah stated in the 2017 year end update.

One Mining District – One Company
The Altos de Lipangue mining district has always had the potential of being a successful mining region but claim fragmentation and lack of vision prevented it from being so. It took AURYN several years to consolidate the claims. It is time to combine the companies and give all the shareholders direct ownership in those claims.

To this end Medinah plans to satisfy its financial obligations as quickly as possible and distribute the remaining assets to our shareholders before ceasing operations. We anticipate this will leave 1.61 billion shares of CDCH to our Medinah shareholders pro rata. This is a ratio of 0.558 shares of CDCH for each share of MDMN that our shareholders own.

How they do this (distribution, conversion, or some other mechanism) is still to be determined as far as I know. It is also subject to regulatory approval and so forth. Also, note the word plans in Medinah’s statement. This is their intention, not a guarantee. I do not doubt that they will execute this in some way, but I also realize that it is a forward looking statement.

I do not think any of this starts to happen until after the restriction on the AUMC (formerly CDCH / CDCHD) shares is lifted. And to be very clear, because of the reverse split in CDCH and symbol change, I am anticipating it is 0.0058 shares of AUMC for each share of MDMN. With the restriction being lifted December and time for legal work and regulatory approval, I suspect the earliest we could see a distribution of some kind is sometime in Q1 of 2019.

I have no idea how the price of AUMC reacts when that happens. Nor do I have an opinion at this point. There are far too many variables and unknowns. AURYN just announced their Hochschild LOI. Hopefully by the time the distribution occurs we will have a much better idea of what the property holds and is economic viability.

MDMN is lagging AUMC. Perhaps some people sold the more liquid MDMN and bought the far less liquid CDCHD (AUMC) and harvested their losses to offset gains.

Let me state this very clearly. I do not recommend any action one way or the other. Every individual’s situation is unique and I am not anyone’s financial advisor. Trying to play an arbitrage between the two and adding offsetting tax losses into the mix is a very complicated calculation. If you don’t understand exactly what you’re doing seek professional help (which may or may not be worth what it costs based on the amount invested.)


#395

Sometimes the best thing to do is nothing. :slight_smile:


#396

Follow Auryn family and friends. After all they purchased over 100 million shares of MDMN at 7,5 I don’t think they care about the arbitrage😉


#397

Wish you would’ve told me that eight years ago. :wink:


#398

Wish I would have told myself that!!


#399

Here is something to consider if everyone followed the suggestion of some to sell all MDMN and buy CDCH to immediately reap the tax loss benefits it would really distort the price differential between the two, especially CDCH being so thinly trade it would push the price up too far, while on the other side MDMN would probably crater further.

That is why I agree the best thing to do is nothing unless one really needs and can use the the tax loss benefits , but even then the question remains as whether CDCH moves down to MDMN price or whether MDMN moves up to the CDCH price. and/or whether they meet somewhere in between. JMO


#400

Happy Labor Day!

Does anyone have the exact date on when the CDCHD symbol changes? I remember 20 days, but cannot find the news release on Auryn web site.


#401

Here you go Andy

Effective August 14, 2018, we will trade as AURYN Mining Corporation with the ticker symbol, CDCHD, for a twenty-day period. After that we will trade under our new symbol on the OTC Pinks, AUMC. The new CUSIP is 05208V100.


#402

Yes as posted earlier, we should be trading under new symbol and cusip September 4…


#403

The weather looks outstanding for the possible start of LDM exploration program this week:

https://www.snow-forecast.com/maps/dynamic/santiago