The Mining Play

Medinah/Auryn - 2019 - 3rd Quarter General Discussion

Time to get the conversion completed…

1 Like

I understand everyones interest’s in giving their hypothesis of why the conversion is taking so long…

Historically… most hypothesis’s have been over 95% off and I mean not even close.
I also have never seen a company that would make decisions based on how it would affect the outcome of a single shareholder, “unless” it could effect the outcome of hierarchy or the stability of the company… I think those day’s are over.

Every company that I have ever been involved with has gone forward trying to do whats not only best for the company to survive, but also in the shareholders best interest’s… Then I met Medinah…

5 Likes

The technicals are good for a rise in the stock to approx. .0024. over the next few days.
JMO

Yeah, I agree with what you’re saying - but if our boys were keeping us up to date a little more regularly there would be no cause for such idle speculation. Just saying.

So, it’s been so long, can somebody remind me what’s going on? Do I recall that Hochschild is supposed to be doing an IP survey?

Happy 4th to all!

1 Like

LoL… I agree with you 100% on updates Mr. B

Do the markets close early today? I am seeing No bid on both Auryn and Mdmn

they closed at 1:00 pm .

1 Like

FYI - It’s been SO long, I looked back and saw that it was in January, 2017 when the company announced a settlement with Les Price - they announced that he had returned 127,000 preferred shared (convertible into 127 million shares) and 57 million common shares. He was also to return 10 million common shares once the share price reaches 2.5 cents per share (it has been below that ever since). Is the latter amount to be reduced if Les happens to sell those shares? Not clear. Of course we never saw the settlement agreement.

What is clear is that Hochschild has invested NOTHING in the LDM property as of December, 2018 (see the last sentence of Note 1 of the December, 2018 financials). Thus, my recollection that Hochschild was going to be doing an IP survey was speculation?

The company has other properties - no status on them.

Sure would be nice to hear of some progress or that they’re at least doing something to move forward. The truth is we’re not even getting that. Do they still sell rope over at Ace Hardware?

1 Like

Winter on the mountain so if work was done I am sure they would have let us know what progress was made. It’s going to be a long 3 months. Come on MC gives us some news as to where we are!

Just continue to lower your expectations and expect absolutely nothing from either company. That way if anything ever does happen, it will be like hitting the lottery…

1 Like

Hi mrb,

I would argue that Hochschild has “invested” plenty during their due dili process but none of that counted towards their $5 million total needed to “earn in” their interest. This is because the definitive agreement wasn’t executed until December of 2018. Their due dili expenditures wouldn’t count towards their mandated expenditures. I think this is a good thing for us. They said yes to a deal after an extended amount of due diligence some of which was tendered by Dick Sillitoe.

Recall that Hochschild is following the gameplan drawn up by Dick Sillitoe himself. There is nobody even close to having the track record of Dick Sillitoe when it comes to major discoveries involving epithermal and porphyry deposits. Recall that Bustamante over at Hochschild commented that “there’s some pretty interesting geology over at the LDM”. Keep in mind that Sillitoe was hired to render his report within the context of REGIONAL findings. We were warned that we shareholders wouldn’t have access to this report and it would be used for “internal purposes only”.

Hochschild signed on the dotted line after having access to the Sillitoe report. So what’s in the Sillitoe report that was so “interesting”? We need to get into his mind in order to even make a guess as to what was so “interesting”. In one of his most famous articles Sillitoe cites about nine common characteristics of what he has found in the biggest of the copper provinces worldwide. See how many of the nine apply to the ADL Mining District. Also keep in mind the location of our next door neighbor to the south i.e. Lo Aguirre, El Soldado to our north and the Andacollo also to our north.

Auryn has been citing the Andacollo as a template for the ADL for a long time. What’s different about the Andacollo is that it is truly a “hybrid” type of a porphyry deposit. You’ve got a porphyry deposit in place but radiating out of the porphyry is about 5 Km of abnormally high grade gold residing in “mantos” or horizontally layered deposits as well as in “skarns” like that at the LDM.

Obviously a lot of work needs to be done on a project with this much potential especially bearing in mind what was found at the Pegaso Nero which none of us ever talk about. Does it make sense that a project of this potential might have gotten lost in the duststorm induced by prior Medinah management? There can be no guarantees in this business but I think that the old adage “so far so good” is a bit of an understatement. The role of having access to a visionary like Sillitoe in an environment like this can’t possibly be overstated. The saying about Sillitoe has always been that it would be easier to list out the world class deposits that he DIDN’T play a role in than to list those that he did play a significant role in.

https://www.researchgate.net/publication/247864552_Porphyry_Copper_Systems

DISCLAIMER: Do not base buy/sell decisions on any of my research. The most important lesson I’ve learned after 39 years in this business is how incredibly slow developments are in this industry.

4 Likes

reminder to all that it is winter on the mountain. I wouldn’t expect too much activity til Sept/Oct

Why not updates re Phase 2 and 3?

Hochschild recently completed Phase 2 of their work on the project and plans to start Phase 3 in early January.

2 Likes

Answers to where we are will be great by both companies! Mauricio Cordoba needs to stand behind his word and give us shareholders “Transparency”.

3 Likes

I’d surmise there was a “gameplan” unfolding by Dr. Jannas that actually brought Dr. Sillitoe onboard. There is a lot more than the LDM on the Alto that seems to have some “pretty interesting geology” that may well warrant the interest of bringing on additional companies. Recall that Dr. Jannas was previously employed as Vice President-Exploration & Geology by Hochschild Mining Plc. before his six months of consulting for AURYN Mining SpA . Also, recall that Raymond Jannas received a degree from the University of Chile before obtaining a doctorate degree from Harvard University and is quite well known in SA for his work.

Maurizio Cordova, Executive Chairman of AURYN Mining Chile, SpA, has engaged Dr. Raymond Jannas to serve as a geological consultant for the next six months. This will include a significant amount of work evaluating all the targets on the ADL Project including, the Pegaso Nero, the Las Dos Marias, and the Fortuna targets.

http://aurynmining.com/adl-project-update-january-2017/

Refining the business plan for the development of the entire project was apparently defined and finalized by Dr. Sillitoe in his report, including the need of bringing on additional partners for the porphyry targets. The LDM is currently being explored under terms of a definitive agreement signed by Hochschild. The strategy for expanding and developing the entire Regional project is still unfolding and includes more than the LDM. Would it be wise to PR developments before all restricted shares are fully unrestricted? It is unlikely there will be much in the way of news for progress on the Larissa Adit, Fortuna targets, or Pegaso Nero until all AUMC shares are allocated to individual shareholders of Medinah. Until then, shareholders can do little except wait. Without news there is nothing but idle speculation. As DOC put it, “how incredibly slow developments are in this industry”!

2 Likes

We can now see what Maurizio has been up to lately.

Revelo Sells its Los Azules Copper Project to Masglas America Corporation SpA

Posted on July 8th, 2019 | Filed under Press Releases

Vancouver, British Columbia–(Newsfile Corp. – July 8, 2019) – Revelo Resources Corp. (TSXV: RVL) (“Revelo” or the “Company”) announces that it has sold its 3,800 hectare Los Azules copper project located in northern Chile to Masglas America Corporation SpA (“Masglas” – a private Chilean company) for US$250,000 in cash, and will retain a royalty interest over the property.

Los Azules was subject to a four-year Option Agreement signed in November 2017 (see news release dated November 27, 2017) that allowed Masglas to earn a 100% interest in the Los Azules property in exchange for certain cash payments and in-ground investments, together with a 2% NSR royalty interest over the property in favour of Revelo. Revelo and Masglas have essentially agreed to an accelerated earn-in that has given Masglas an immediate 100% ownership in the property in exchange for the US$250,000 cash payment, with the NSR royalty in favour of Revelo remaining in place.

Tim Beale, President & CEO of Revelo, commented, “This agreement gives Revelo some needed cash as well as contributing to the growth of Revelo’s NSR royalty portfolio that now covers 8 exploration projects, with a further 3 exploration projects subject to a previously announced sale and royalty agreement with Atacama Copper Exploration Ltd, for which we expect definitive documentation to be signed shortly.”

The royalty agreement with Masglas at Los Azules is as follows:

  • Masglas will pay Revelo a 2% NSR royalty on all future metal production from Los Azules. For a period of 36 months Masglas has the right to reduce the Royalty to a 1% NSR by making a one-time cash payment to Revelo of US$1 Million. After 36 months, this buy-back option expires.

ABOUT LOS AZULES

Los Azules (3,800 hectares) together with the Q’Inti Breccia (previously called Araya – 103 hectares), which was sold by Revelo to Masglas in November 2017, comprise a series of tourmaline breccia pipes containing copper and molybdenum mineralisation. Q’Inti lies immediately adjacent to Los Azules, and both properties lie along the highly productive Paleocene Mineral Belt in northern Chile that contains numerous important copper, gold and silver mines and projects, and to the south of the historically important Inca de Oro mining district. Detailed exploration is required to determine the potential of the breccia pipe cluster.

ABOUT REVELO

Revelo has interests in an outstanding portfolio of projects prospective for copper, gold and silver located along proven mineral belts in one of the world’s top mining jurisdictions – Chile. The Company has a combination of wholly owned projects (available for option, JV or sale), option agreements, royalty interests (non-producing to date), and equity interests in mining and exploration companies. Revelo’s total exposure to mineral tenements in northern Chile, either wholly owned or through royalty interests, is around 200,000 hectares.

Revelo is a Canadian company and is listed on the TSX Venture Exchange (TSXV: RVL). For more information, please visit Revelo’s website at www.reveloresources.com

ON BEHALF OF THE BOARD

“Michael Winn”

Michael Winn, Chairman

INVESTOR CONTACT

Timothy J Beale | President & CEO
T: +1 604 687-5544 | info@reveloresources.com | www.reveloresources.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Also some more news here: http://masglas.com/category/news/

MASGLAS Bronze sponsor for second consecutive year at Mining & Investment – Latin America Summit

For the second year in a row, MASGLAS is again a proud Bronze sponsor at Mining & Investment – Latin America Summit, at the Westin Lima, during November 6th and 7th 2019.

http://www.gfcmediagroup.com/mining-and-investment-latam

Great! What does this mean for Auryn and the Alto?

Mike, thanks for bringing these items to the attention of the forum. Quite interesting.

Just FWIW: Dr. Jannas became director of Revelo in 2014. As mentioned earlier, he is well known in SA and familiar as a consultant to AURYN Mining Chile, SpA for investigating the potential of the ADL. This consulting was coincident and prior to Maurizio bringing Dr. Sillitoe on board to write his geology assessment and report for the development of the ADL. He also had strong prior ties to Hochschild as Vice President-Exploration & Geology.

image

Dr. Raymond Jannas has geology degree from University of Chile and a Ph.D. from Harvard University. He has more than 35 years’ experience in mining geology, exploration and business development with companies such as Minera Fuego, Hochschild Mining, Gold Fields, Metallica Resources, LAC Minerals, St Joe Minerals and Rosario Resources.

His main focus has been in exploration, business development and mining geology in Latin America (principally Argentina, Chile, Mexico, Peru and Venezuela) in addition to world-wide project generation. During his career, he has headed exploration teams that led to the discovery of deposits such as Pascua-Lama, El Morro and Johanna in Chile, and Choco 10 in Venezuela, as well as the acquisition of the Cerro Corona mine in Peru. Raymond is currently a consultant to various mining companies and is President of his own consulting firm (Gexsa Ltda.). He is also a director of Revelo Resources Corp. (TSX-V: RVL) and Regulus Resources Inc. (TSX-V: REG) and Partner/Advisor in Minera Santa Enma.
http://cexr.cl/congreso-2017/en/conferencistas/dr-raymond-jannas/

It may or may not mean anything for us. Masglas is controlling owner of Auryn (we are minority owner). Masglas just purchased the copper project from Revelo. So, our partner in Auryn, Masglas, now owns another asset. We do not own this asset. So, maybe Mike’s point is we can now see what our guys at Auryn (which I think are the same guys at Masglas) have been doing lately. Is Masglas planning on contributing this asset to Auryn? I don’t know, but if so then we can look for some more dilution?

1 Like