The Mining Play

Medinah/Auryn - 2019 - 2nd Quarter General Discussion

2nd Quarter begins

Mike Gold has stated Medinah has filed an extensionas of 3/29.

Auryn has filed.
Stated only real change is Hochschild continues work on LDM as of now.

https://backend.otcmarkets.com/otcapi/company/financial-report/214989/content

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I put a lot of $ in and will end up with now tens of thousands of Auryn shares
Now someone getting 500,000 preferred which are probably worth more than our common and listed as “entity”!

“The Company issued 500,000 shares of preferred stock to an entity in exchange for providing a loan related to the Company’s retention of its 5% interest in Auryn Mining Chile, SpA.”

Also note that they changed transfer agent in March to Pacific Stock Transfer Company, as Pacific Stock Transfer Company acquired their old agent.

I think the preferred shares are now 5000 as a result of the reverse split.

Has Medinah received Auryn shares yet?

I believe those are Auryn shares but hope I’m wrong

If M/C “owns” 95% of “AUMC’s” 70 million shares then it appears that from an accounting point of view he currently technically “owns” the shares to be distributed soon to the Medinah shareholders. I assume this is because he technically “owns” Auryn Mining Chile (the privateco) and those shares are sitting in their coffers still???

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It looks like the April Fool’s joke is on us…AGAIN!!!

Why do you say that?

The preferred shares are now 5,000 due to the 1 for 100 reverse split and i believe they are voting shares only with a 1,000 for 1 voting right.

The loan was repaid by a reduced ownership in Auryn, so I would assume/ hope those preferred shares were returned as well when that transaction happened. BTW I believe those shares were the shares issued to the Days and were returned when they left. I have not looked at the Auryn financial statements in a while so I could be wrong.

Medinah has received its AUMC shares.

https://www.otcmarkets.com/stock/MDMN/news/Medinah-Minerals-Inc-Receives-AURYN-Mining-Corporation-Shares?id=223612

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Thank you Kevin. Now how long will these shares be restricted for and when will MDMN disappear forever?

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This is good … and not so good that the shares are still restricted.

The best possible pathway is that AURYN can unrestrict all restricted shares, Medinah and AUMC can have a voluntary trading halt, Medinah can order a NOBO list of all shareholders and then distribute unrestricted shares of AUMC shares firstly into individual brokerage accounts; Thereafter, lift the voluntary trading halt.

A resolution to the long wait should clear the path of AUMC to be promoted to a wider investment community with all shares freely trading.

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Easy how long does a process like this take?

Magic 8 ball says ask again later!
:thinking:

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I was hoping and expecting that Auryn would unrestrict the shares before distribution to MDMN. Not sure why we had to wait over a year to receive restricted shares. In any case the shares are now in MDMN hands so I would expect that MDMN would file to have the shares unrestricted before distribution to Shareholders. Also I hope that they do not distribute the shares as a dividend but rather as an exchange . This is a simpler process/procedure. Whether they distribute the shares as a dividend or an exchange I see no reason why there should be any reason for a trading halt during the process.

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So if a shares exchange, is the calculation 16104200/2882282073=.05587388 MDMN shares for Auryn? I went by outstanding shares shown on OTC.


AURYN Mining Corporation (OTCMARKETS: AUMC) is pleased to report the following to its shareholders:

  • AURYN Mining Chile, SpA, recently completed the distribution of its AUMC shares to its shareholders.
  • Hochschild Mining has informed us that it is starting phase 1 for 2019 during the first week of April. This phase includes an IP program.
  • We have completed the draining of the tunnels on the Fortuna project and are in the process of removing the mud and securing the tunnels to make them accessible. Once this is complete a systematic sampling of the tunnels will begin.

We will continue to inform our shareholders in a timely manner as further results are accomplished on the Fortuna, Caren, and LDM projects.

Submitted on behalf of the Board of Directors

Contact Information
Auryn Mining Corporation
https://aurynminingcorp.com/
ir@aurynminingcorp.com

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1 Like

Does this mean we are waiting on MDMN to transfer are AUMC shares to us now