The Mining Play

Medinah/Auryn - 2019 - 1st Quarter General Discussion


Crazy to see AUMC has not traded 1 share since 2/6. When are we going to get some news from Auryn on the scope of all projects like they expressed in the December update?


I am going to try and buy $100 of AUMC today to make sure it is breathing still


Not overly optimistic or pessimistic here with the lack of trading, volume or price of trades. Auryn Mining Corporation (AUMC) is clearly not a trading stock at this time, nor was it meant to be. Neither is Medinah. The company is still in a very transitional and lengthy stage of development. Most of those shareholders that could leverage an arbitrage situation by using a tax loss strategy with buyback after a month had passed did so a long time ago. Those shareholders that have held shares in IRA or ROTH accounts could not utilize this strategy as tax loss selling is not allowed. It is also obvious that AURYN Chile (a private company) has about 70% of all Auryn Mining Corporation (AUMC) stock, all of which is expected to become unrestricted sometime this quarter. There has been no announcement that the pro rata share amount held by AURYN has been distributed to Medinah Corporation. Lacking release of such an announcement implies that AUMC shares may still be restricted. It may also imply that FINRA has yet given approval for details of getting unrestricted shares to individual shareholders before these shares are free trading.

It is important to note that complicating the situation is the fact that Medinah has all of it’s equity being held by AURYN in the form of a restricted AUMC stock certificate. AURYN (a private company) management knows that to treat all shareholders equally, including AURYN shareholders invested in Medinah, all shareholders must have all AUMC stock distributed as unrestricted and freely trading.

In September 2017 management stated it’s intention to treat all shareholders equally while bringing “the company” public. All three companies (Medinah, Cerro Dorado and AURYN) became Auryn Mining Corporation (AUMC), but 95% of the share structure remains as restricted stock. AUMC (“the company”) also restructured a bloated share structure to ready the day for when all AUMC shares could be actively promoted. This would be fair for all shareholders to have freely trading AUMC shares at the same time, including those holding Medinah shares. That time is not now. I expect news and progress announcements will flow freely after all shares are distibuted to individual shareholders.


I have restricted shares of MDMN in certificate form, plus unrestricted shares in cert form. Plus a cert from a family member who passed away. How can Auryn manage to account, collect and convert these shares?


This is a very good question. Also, I know people who still have cdch certs in their possession wondering if those will be converted as well?


Cerro Certs are a different question than the Medinah / Auryn share distribution.

Cerro changed names and did a consolidation. You can convert your certs to Auryn Mining Corp at any time (for a fee) ultimately via the Transfer Agent.

You can start with asking the company: (which I think is a fairly new address) or

Alternatively one can contact the Transfer Agent listed in the financials published on the OTC website given as:

American Registrar & Transfer Company1234 W South Jordan Pkwy, Suite B-3South Jordan, Utah 84095801-363-9065

or by contacting the Securities Counsel, Michael Labertew listed on the OTC page:
Multiple people here could provide his e-mail if it comes to this step.

Start with the company contacts.


I have certificates of MDMN also. I would think that the transfer agent would be obligated to send me the appropriate AUMC shares when they are distributed even if the MDMN certs are restricted.


I have called the transfer agent 2 times and left my contact information on their voice mail and never received a call back. What to do from here???


Sometimes I have to go back and read this to keep sanity.


Yes, one of my favorites. Thanks


On December
26th last year, the company made its first
delivery of 12.4t of ore to state mining development company ENAMI. To date around
100t has been sent for processing.

Just curious why no revenue was ever booked!


Yep, I never saw that either - maybe it was netted against something else. Not good when you have shareholders out there who know specifically about the production.


And that was 2 years ago


Pap, The transfer agent is a one man shop and is not very responsive to MDMN shareholders. Keep trying.


At the time of the test shipments AURYN was a private company. Any revenue received would be on the books of AURYN (a private company):

December 24, 2016 — Altos de Lipangue test production shipments to commence on Monday, December 26, 2016!

Feb 15, 2017

Our intention is to file an F-1 with the U.S. Securities and Exchange Commission and become a fully reporting company. If our registration is accepted, we anticipate an initial public offering of our shares on the OTCQX® or OTCQB® tier of OTC Markets sometime in the fourth quarter of 2017.

Dec 15, 2017

AURYN Sells Mining Claims to Cerro Dorado, Inc.

AURYN Mining Chile SpA (AURYN) is a private company that owns and controls over 10,500 hectares of mining claims in the Altos de Lipangue mining district. Two of our shareholders are public companies.

· Medinah Minerals, Inc. (OTCMKTS: MDMN) (Medinah) owns 23.559% of AURYN.

· Cerro Dorado, Inc. (OTCMKTS: CDCH) (Cerro) owns 5% of AURYN.

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.


I am well aware of that, but MDMN was an owner in that private company at the time with over 26% and is still an owner in that private company and is entitled to a full accounting of the money we put forward via a loan that resulted in further dilution of of our ownership in that private company when that loan was repaid.

Just saying MDMN should have received a full accounting of the private company’s P&L statement, cash flow, and balance sheet statements for its ownership interest, but everything is just kept quiet and hidden. Now In return they expect us to give up our ownership in a private company for stock in a public company that also has no real income statement, balance sheet or cash flow statement because they simply transferred just property titles into that company, and nothing more.

I just prefer full disclosure, whether that news is positive or negative, and I simply hate to guess what they did with our and others investments over the years. Yes we did not but up cash per say. but we did put up a loan that was later liquidated by giving up further equity in the private company.

Private yes,not responsible to minority owners for full disclosure, absolutely not!


What can we expect at this point? Even if the current value of our shares quadrupled after the conversion, that would still only be the equivalent of .01. Anyone who eventually makes back 50% of their original investment, would most likely be in the upper echelon of the long term investors… Thoughts?


what happened to all the friggin work being done up there and all the workers that were there?? WHY did everything stop or did they just stop telling us


“Near future” George


Looks like ole lester is still selling shares to pay off his gambling debts. I can honestly say this SOB got off clean.