The Mining Play

Medinah/Auryn - 2018 Q4 General Discussion


#230

Good post Hurricane.
People who are anguished / discontented on this stock/company, have to remember its past, both the good and shady times.
This stock has a brown streak in its shorts from the disappointing, dubious, cagy, unethical, unscrupulous, turn of events in its history. Just as a bad car made by the auto industry,
it takes many good ones to erase the past failures…
We, as with this mountains NEW owners, find ourself in that same spot “now”.
So we wait for the tide to turn…
No use looking for any stock movement during the lead up to Holiday break and a few dayz after.
Just as your neighbors heading out for Xmas. …the big rollers and brokers MMs that run this market, are on their way to their villas in Vale, or their yachts on the Riviera to spend our Money.
So go enjoy your family, dog, cat, health, good fortune, snow or what ever winds your binder.
That mountain is doing the same. It will get back to work in 2019. C. D.


#231

This was posted over on Ihub

medinah remains in default in the state of nevada and no longer has a registered agent to carry on legal business in the state of nevada or elsewhere


#232

In most states, that’s just an administrative default, which can be quickly cured by paying the annual fee.


#233

Medinah has been in default probably at least a dozen times over the years in the State of Nevada. Not clear if they have to pay the fee before the conversion or whether they won’t even bother.


#234

They’ll eventually have to pay it, as the end game, after conversion, I think is to dissolve the company - the company must be in good standing with the Secretary of State before they will grant dissolution.


#235

By not paying fee, after a period of time (approx 3 months) the State will involuntarily dissolve the corp. You only have to be current if you want to voluntarily dissolve (or other actions). Those with more experience with the share conversion can speak to the effect of an involuntary or voluntary dismissal.


#236

Yikes…Someone just dumped 4 million shares at .02. Then 2 million more after that. Looks like more to come. Looks like Baldy played it right…


#237

That’s a weird trade there are sell orders at .0022 and .0021 that were by-passed.


#238

I’m no expert in share conversion but I did sleep in a Holiday Inn Express once! :wink:

This is a wait and see game for now until we know more. At some point they’ll need to get current with the state. I don’t know if this is before or after Medinah orders a OBO/NOBO list of MDMN shareholders, otherwise who do they distribute to? A voluntary trading halt may be necessary after AUMC shares are unrestricted and distributed to MDMN Corporation. Then, at that point in time, a NOBO list identifying all individual MDMN shareholders and their brokerage accounts is ordered by MDMN. After obtaining the OBO/NOBO list AUMC shares can be distributed pro rata to individual shareholders’ brokerage accounts rather seamlessly. Then the trading suspension could resume trading allowing a fair and orderly market. Maybe someone else on the forum has a different idea on how this will be accomplished.


#239

I’ve been buying, bought a bunch last week. Probably pretty crazy, but I’m thinking Hochschild is associating their name with the mountain and that they know MORE than we do. Not to mention the fact that other, reputable professionals in the past have associated their names with the mountain. Further, I’m thinking the potential production we were all dreaming of a couple years back just might come to fruition in 2019. If it does, things will change, at least a little. Personally, even though one can respectfully argue that even at this level the share price is too high, the current price is at near record lows. I have significantly lowered my average per share price. If this stock makes it to 3 cents, I will have made a significant profit. I don’t expect such movement any time soon - just a potential for 2019.


#240

There also seems to be a big buyer at .002, fwiw


#241

Assuming Hochschild earns their 51%/60% interest in the LDM, AUMC will then be a 40% financial partner. How will we finance our share of the projects costs? Debt or equity. Or, by that time will we be bought out by either Hochcschild or a third party?


#242

From last December news release

To provide liquidity to these companies and give their shareholders direct ownership in the underlying asset, AURYN has sold its mining claims to Cerro for 6,650,000,000 common shares of Cerro and cancellation of Cerro’s AURYN shares. The remaining AURYN shareholders now own 95% of the issued and outstanding shares of Cerro. These shares have a one-year restriction on them. AURYN will work with its shareholders to convert their AURYN stock to CDCH stock.

Can Auryn let us know whats going on with the share conversion? It’s been a year since this was last mentioned.


#243

Who is dumping shares? at these prices they are loosing money big time.


#244

Year end tax selling.


#245

Someone who’s got free shares. It’s been going on for sometime now.


#246

Les still has a desk drawer full and is living off them, would be my guess.


#247

to be determined.


#248

Excluding year end tax selling (which is an overused excuse) are people “really” selling their shares because they feel they will not get a better price in the upcoming months?


#249

FYI:

Freeport-McMoRan Announces Successful Completion of Transaction with the Government of Indonesia, Marking the Beginning of a New Partnership

PHOENIX–(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) announced today the completion of its transaction with the Indonesian government regarding PT Freeport Indonesia’s (PT-FI) long-term mining rights and share ownership.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181221005225/en/