The Mining Play

Medinah/Auryn - 2018 Q4 General Discussion


Ah! I never thought of that.


don’t worry. I bought it back up…


Is there a deadline for when you can buy MDMN shares and have them convert to AUMC?


No there’s not, you can buy shares till trading is halted.


Are we going to see that consolidation into AUMC by the end of 2018?


I think that the prediction was after the share’ s became free trading in December, to look for the conversion in the first quarter…


Does mdmn simply go away or does it continue to trade? If it continues to trade, are those shares bought after transfer exchangeable?


If all of the outstanding shares of MDMN are ultimately converted to AUMC shares as we are anticipating then it should go away as there will no longer be MDMN shares to trade.

If Auryn mining ( currently holding all of the AUMC shares for MDMN decides to just distribute those shares to MDMN, then it will continue to exist and trade until such time that the AUMC shares are distributed to the individual MDMN shareholders.


So if it’s a distribution of AUMC shares for mdmn shares, mdmn would still exist after the distribution with no real worth. I would think any future AUMC distributions for mdmn shares after initial AUMC distribution would be closed off.


If our conversion ratio is correct, why is the stock trading well under .003?


Or, equally valid question, why isn’t AUMC trading at $.53 ? If the conversion factor is correct, eventually these two stocks have to converge using that ratio.


There really isn’t any active trading in either stock. Is this because there is no solid basis upon which to base a trade other than Market cap of AUMC? We’ve already had a discussion on why market cap is a very unreliable basis for trading when there is no revenue basis upon which to base it. Both stocks are essentially “frozen” (or at least “chilled”) until there is some substantial basis upon which to trade. AUMC is apparently in some rather strong shareholder hands. Just look at the spread between bid and ask along with low volume which confirms this. Perhaps that will change with the next round of Quarterly Reports due out in the next week or so. I don’t think we’ll have much in the way of news until after the MDMN conversion takes place, though. Nice to see the renewed interest on just how and when this will occur. This was also discussed in some detail quite a while back. The recent trickle of MDMN selling is likely little more than tax loss selling, although the bulk of this should already have occurred some time ago. The 114 shares trading @0.78, and a small volume of shares that dropped the price of AUMC as low as 0.70 recently, may have been nothing more than some margin call selling. Sure messed up any trading based on charting. I think the majority of shareholders are waiting to see on how AURYN plans to move this stock forward after the consolidation into AUMC is completed; Also, the definitive agreement with Hochschild needs signing and confirmation.


Notice of late filing for Medinah:


AUMC is richly valued. Even at $1. The sector continues to drift lower. Without substantial results/developments to support the valuation, this will be a range bound stock for quite a while. For those who haven’t taken the tax loss and then rev-invested +30 days later, you need to have your head examined. I took the loss but have have a hard time with the reinvestment part. As difficult as it is to sell a long-time holding for a substantial loss, one always benefits from an enhanced perspective. Psych investing 101.


Will Aumc file a late notice as well?


Auryn’s latest filing:

Only thing of significance, Hochschild is currently working on the property and they have been given an extension at their request to sign the final JV agreement by December 15th.


December 15 is also the 1 year anniversary date of acquisition for all the AURYN mining claims by CDCH. Significant or coincidence?

Cerro Dorado Acquires AURYN Mining Claims
Dec 15, 2017
Santiago, Chile and Las Vegas, Nevada, December 15, 2017 – Cerro Dorado, Inc. (Cerro) (OTCMKTS: CDCH) is pleased to announce that it has purchased all of AURYN Mining Chile SpA’s mining concessions in a stock for property transaction.
Prior to the purchase agreement being exercised Cerro issued 38,380,936 common shares to satisfy its $300,000 debt to AURYN Holdings Corporation. This resulted in Cerro having 350 million shares outstanding, no debt, and a 5% equity interest in AURYN Mining Chile SpA. The Cerro Board of Directors increased its authorized share count to 7 billion shares and paid AURYN Mining Chile SpA 6.65 billion common shares and its 5% interest in AURYN for all AURYN’s mining claims.
Cerro now has 7 billion shares issued and outstanding, no debt, and owns 100% of the Altos de Lipangue mining district claims that AURYN Mining Chile SpA took several years to consolidate. We will post the complete contract with a detailed list of the properties as soon as practical.


Does the one year restriction of AUMC shares automatically expire on December 15? Are restricted shares (pro rata) going to be released and transferred to Medinah Minerals Inc. prior to this date? Will there be a trading halt prior to December 15? This would allow a NOBO/OBO list to be compiled for a two-stage process allowing for a direct transfer of shares to the corporation and then distribution to individual shareholders, or will there simply be an announcement specifying an effective date of record and date of distribution? The time is nearing when answers will necessarily be forthcoming and announced to shareholders. The last time there was a very significant event, i.e. the purchase all of AURYN Mining Chile SpA’s mining concessions in a stock for property transaction, there was only a one day advance notice to shareholders. Hopefully, shareholders will not be kept in limbo for long awaiting to hear when and how Medinah Shareholders will receive direct ownership of AUMC shares.


What’s the penalty if they don’t sign by December 15?


Most likely little more than the LOI expires and the LDM becomes available for other JV arrangements