Awesome. The press release is dated 01/18/2019. It took a week for anyone to notice this and post it?
I assume this means the share structure and transfer has been approved!
Not really very useful information.
I have a few statistics for anyone interested, although the values only tend to demonstrate what shareholders already know.
The overall average adjusted closing price since Jan 2016 is 0.007 with a total of 974,475,000 shares traded. This corresponds to an average daily volume of 1.27 M shares traded over the past 3 years, not really representative of average volume. The average daily volume during the first year (2016) was 1.87M (total volume 473,465,800) with an average share price of 0.0129.
There has been a steady erosion of volume and price since the Okanadian was filed Jan 2016 to derail the survivability of Medinah (and it’s sister CDCH). Additional fraudulent lawsuits filed out of Canada were equally devastating to shareholders. Over the past two years (Jan 2017 to Jan 2019) the average closing price was .0042 with a total share volume traded of 501,009,200 or a 967,199 average daily volume. During the past year (Jan 2018 to Jan 2019) the average closing price was .0032 with a total share volume traded of 199,809,300 or a 799,237 average daily volume. Recent volume and share price have been well below averages.
So now Medinah shareholders have a preliminary indication that AURYN will be distributing AUMC shares to Medinah. The overriding question remains how and when Medinah will distribute these AUMC shares to individual shareholders as AURYN/MASGLAS/AUMC moves forward to monetize the ADL claims.
With gold and silver on the rise are we in for some good news? been very quiet around here we need a boost besides coffee.
Global gold demand rose 4% in 2018, fueled by the greatest amount of central-bank buying in half a century, said the World Gold Council Thursday in its quarterly report on demand trends.
Gold demand last year climbed to 4,345.1 tonnes from 4,159.9 in 2017. Fifteen percent of this demand came from central banks, which collectively bought 651.5 tonnes of gold, the report said.
The central-bank tally was second-highest total on record and represented a year-on-year increase of 74%, the WGC said. Further, net purchases were the most since the U.S. ended dollar convertibility to gold in 1971, the report said.
There was so much conversation on this board for years. I was entertained and intrigued by the posts. The stock is the stock, and you all share in the glory of the mountain. But what intrigues me…is the lack of any interest to prospect ideas at the moment. Why?
Everything is good? Right?
We’ve enjoyed highs and lows. Yet nobody’s sharing now. Are we all just tapped out?
No news = nothing to discuss. It’s that simple.
Any one know whats up with the old crew of misfits? LES, JJ and the rest of them? Are they around? IS there any jail time in the future? Will charges ever be brought up? Are they done selling?
No news but old news.
Is there a simple way forward from here?
The above news says that Medinah Corporation will be obligated on behalf of shareholders to perform certain actions to fulfill it’s fiduciary responsibilities. Below is the news from almost 2 years ago.
Medinah Signs Contract with Auryn Holding Corporation
Press Release | 03/10/2017
MedinahMinerals, Inc. (Medinah) (OTCMarkets: MDMN) owns 27.5% of the outstanding shares of Auryn Mining Chile SpA. (Auryn). Auryn is a privately held company based in Santiago, Chile.
On February 15, 2017, Medinahs President & CEO, Kevin Tupper, attended an Auryn Mining Chile SpA shareholder meeting in Santiago, Chile. At the meeting Auryn informed its shareholders of Auryns plan to capitalize its debt by issuing a capital call to its shareholders. Any shareholders unable to meet the capital call will retain their current shares but be diluted in their overall position.
To maintain its 27.5% equity position, Medinah signed a Letter of Intent on February 22, 2017, with a private party to finance Medinahs participation.
Medinah is pleased to report that on March 10, 2017, it signed an agreement with Auryn Holding Corporation to finance Medinahs portion of the raised capital. The basic terms of the agreement are as follows.
- Auryn Holding Corporation will cover the payment of approximately $2,000,000 that Medinah Minerals, Inc. owes to Auryn Mining Chile SpA.
- Medinah Minerals, Inc. will pledge its newly issued shares in Auryn Mining Chile SpA as collateral against the loan.
- The loan will be a 0% interest loan payable in full on December 31, 2021.
- The loan payment date can be extended upon the agreement of both parties.
- Should the shares held as collateral become publicly traded, the loan will convert to an interest only balloon note with a four-year term and a simple interest rate of 4% annually.
- Until the loan is paid off in full, the shares remain as collateral securing the debt.
- If Auryn Mining Chile SpA sells or transfers its rights to any other party and Medinah receives shares in another entity because of the sale or transference, the new shares that Medinah receives will serve as the collateral for the term of the loan, effectively replacing the shares in Auryn Mining Chile SpA.
A Medinah representative will attend the upcoming Auryn shareholder meeting on March 15, 2017. We will meet the cash call and retain our current interest in Auryn.
Submitted on behalf of the Board of Directors
So, what will the pro rata share distribution from AURYN in the near future mean for shareholders? What news is expected this quarter … next quarter? Hasn’t the $2M loan already been satisfied? I recall that it was. What remaining costs are likely to be incurred by the company? Here are a few remaining questions I would like to see answered “near term” for all shareholders, including updates and progress by AUMC for monetizing the ADL claims.
- What exactly does the bolded sections above do for present Medinah shareholders?
- What portion of AUMC shares held by AURYN will be released to Medinah?
- How and when will the loan obligation or future “costs” of “distribution” be satisfied?
- Exactly when, how and what remaining AUMC shares will shareholders receive in individual brokerage accounts?
Clarification of the above questions would be appreciated. I’m sure other shareholders have additional questions. Is an AUMC shareholder meeting in any “near term” future?
Yes it has. Recall the original annual 2017 report came out showing a reduction in % ownership in Auryn from 26.469% in Q3 2017 to 23.559% at end of 2017 in exchange for elimination of debt and yet showed a $1.6M liability remaining in the long term debt section of the balance sheet. . They quickly issued a revision and then a second revision of the annual report correcting the balance sheet with the long term Auryn debt removed. 
When is this news jamb going to stop and Aumc becomes more transparent with their shareholders?
When are we supposed to get the Q4 financial released?
Annual reports are due 90 days after the end of the fiscal year. So for small companies like Cerro / Auryn Mining Corp / Medinah it tends to be end of March or early April.
aurynminingcorp.com appears to be down
I think the website is back up
What seems odd to me is that AUMC has not had any volume or a single trade in 6 days. That has not happened since name change. We need some type of new update soon.
Can anyone explain while every trade the past few weeks seems to be getting executed at .0022? It also seems like the stock is no longer trading, although there is volume…
I bought shares this week at .0022.
I had been buying back in the Fall, averaging down - at this point if I sell out at a few cents I’ve made a handsome profit. Problem is it’s a heck of a thing living in ignorance of what progress is being made on the properties. Sure would be nice to hear from these guys more regularly.
They should at least be done with 3rd phase and getting all the water out of tunnels so they can enlarge…hopefully we will get some type of update by end of month on something
I just can’t believe that nobody will even consider buying this thing at these all time lows. What a long strange trip it’s been…(Grateful Dead)
Many have bought and bought and bought at what appeared to be the lowest bargain-basement prices…only to watch the price stagnate and drift lower on lack of news. It would be different if there was news being released that gave investors an idea of direction. I personally don’t want to have any more money locked up or dedicated to tax write-offs when there are far better opportunities out there.