A tighter float undoubtedly sets up for a better outcome but I guess my point is that AUMC already trades with less shares and it has gone down more than MDMN, percentage wise, since the company transitioned from CDCH to AUMC. My main concern with the last update is that its clear that they have not committed much capital to advance things. I guess it’s possible that they are saving their bullets for a big promotional campaign but I’m not sure why they would wait for the MDMN holders to be converted to AUMC before doing so. Either way, its a clear positive to put MDMN in the rear view mirror. I’m just not sure why the fundamental picture will be any different
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Back when there was still some flow of information, it was made clear that Auryn would promote nothing till Medinah was gone gone gone. It was thought that no serious investor would take Auryn seriously due to all the baggage associated with Medinah. It will be interesting to see if Auryn comes awake or not after the conversion takes place.
Doubt the conversion will be anymore than a wash when the smoke clears. The only selling will likely come from Auryn insiders. Its doubtful that they could sell very much without the price dropping to sub penny range quickly unless there is really significant progress on the mountain.
Hope to see some drilling start in October. Till then, probably crickets.
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My guess? The Securities Attorneys are checking that only legitimate shareholders receive the conversion. That would be interesting.
These are people who invested in the mountain, maybe for a reason? Why would they be selling - has that reason gone away? Let’s hope these guys get it together and start drilling/promoting the results. I’m just assuming they didn’t think they were throwing their money away when they invested.
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Will be nice to hear AUMC MDMN come out with the details on how this restriction will be lifted and when. Just like when CDCH was turned into AUMC. This should start to get things moving
Hey bubba as of now a lot of people are looking at Losses. Remember Auryn family bought over 200 million shares at around 7 cents and are also looking at huge losses. They believe in the mountain. If it wasn’t for the greed of JJ and Lester who knows where this stock would be today. I am sure MC is going to perform.
Ah I remember my L2 was green when they entered the market. Like to see that again!
It is just so sad to see someone after all these years dump a million shares at .0016…
Remember 65%+ of that 70 million float remains restricted. Basically the only stock that will trade after the conversion will be that from MDMN shareholders and former CDCH shareholders and a few smaller AURYN Mining Chile SpA shareholders.
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Meaning there won’t be any shares left to buy on the open market? How then can the share price ever increase?
Vark
I think he’s suggesting that the share price will eventually increase (after promotion) precisely because there are not that many shares that CAN be traded (65% of them are restricted).
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Here’s a weekly chart update to the chart I posted 3 weeks ago. 2890 is the magic number for the S&P 500 emini futures contract for this week. There could be a break below and a move back above… just have to see what the week brings. I’m watching 2875 for lower support and if that doesn’t hold then it’s likely headed for 2800, and then 2700. So far tonight it’s not good with futures down pretty big. There may be a shit storm coming soon. Keep your eyes open. Take care everyone!
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Gold ripping again today
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TR …nice read sitting at 2850 10:45am PST
The reason once MDMN is converted to AUMC we should have a better handle on share price is a fairly simple. The fact that currently only 5% of AUMC shares are free trading shares and of that 5 % I believe 1/2 are tightly held shares. Assuming that when the exchange happens the AUMC shares exchanged for MDMN will add considerably to the float and make trading more meaningful. With the current low float it is extremely easy to manipulate the stock price both up and down making the price of the stock really not meaningful, due to the extremely low volume.
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For anyone interested I posted a chart update of the S&P on the “Other Mining Stocks” section of the forum.
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Just checked in after a bit of an hiatus. Just my 2 cents, but I think Baldy, Mike Gold, and Wizard all have valid points and they are not mutually exclusive of one another. I feel AUMC hasn’t fully invested in the mountain due to trying to resolve the MDMN debacle. Just think about how they have had to deal with the other, unknown investors they brought in who bought boatloads of shares at significantly higher prices. I feel they have been focusing on more immediate ways of generating revenue instead of putting more $ in MDMN claims until MDMN is gone. I feel this also ties in with the promotion. Until they have everything under one umbrella AUMC will focus on their other projects. They already have stated MDMN claims will not be AUMC’s only iron in the fire. Why promote anything MDMN claimwize which may still benefit he who shall not be named and his scam artist cohorts until they have full control over everything? I also feel most investors have already written off MDMN investment and even the equivalent AUMC shares. No activity exists because we are mostly so far underwater it doesn’t hurt us to keep holding, the body is already dead. Once conversion happens and if AUMC invests and promotes, it might resurrect our investment and the restrictions on trading could work in our favor. Unfortunately, we once again must wait, and wait…oh, and wait. Did I forgot about waiting, I think I might have. Then there is always waiting, that’s important. Make sure you wait, it’s cold outside!
I have long ago moved on to other things (trading other stocks and crypto) and have made back way more than I lost in MDMN. If you haven’t done so, I highly suggest it. Makes the wait easier.
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wait, what? 
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Are we going to see Gold hit 1500 this week?
This is setting up nicely if we can get the Alto going with positive news.
Hit 1500 at 9:45 EST this eve. Pulled back and has made another run at it now at 11:30 EST. 
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Thanks Rich! I follow Kitco and showed a high of 1490. What do you follow?
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