Thanks for dropping in CHG and expressing your expectations. Always good to see a reasoned perspective of what is going on and what to expect near term. I agree MDMN is not in a position of strength here and is clearly acting strategically with respect to the conversion process.
We have previously been informed by Wizard that some delays are completely regulatory. Also, that the method that will be used is an allocation, which has a different legal meaning from that of a distribution.
Even if the method of distributing shares into individual shareholders accounts has been determined, the timing to unrestrict all shares will not likely occur before there is some very significant positive developments to report and bring value to the company. The reasons for this are quite obvious and deliberate. There may be some not so obvious reasons. Consider the involvement of Mr. Cordova and the major backers of MASGLAS also being the majority backers (read owners ) of all MASGLAS properties/options and 71%+ of AUMC shares. Consequently, regarding the ADL, it is advantageous to bring value to all shareholders upon release of unrestricted shares to the shareholders.
MASGLAS is a privately held exploration and exploitation mining company. We are the owner of 23 prospective gold, silver, copper and cobalt mining projects across Chile and Peru.
Additionally, MASGLAS has several JV mining options and is the controlling owner of AURYN Mining Corporation, AUMC, whose sole asset is the prospective Alto de Lipangue Mining district.
Several years ago the goal of AURYN Chile SpA was to have all shares listed on a different publicly traded exchange. This would take a multistep process for AURYN (now AUMC) to gain access to the Latin American Markets, mainly with assistance by MASGLAS and it’s principal backers. This goal may or may not be part of the present strategy being developed behind the scenes. The timeline has clearly changed from the one originally put forth to shareholders of CDCH and MDMN a couple of years ago.
February 15, 2017
AURYN is pleased to announce that it intends to provide increased liquidity to its shareholders by accessing the U.S. capital markets as a Foreign Private Issuer. Our intention is to file an F-1 with the U.S. Securities and Exchange Commission and become a fully reporting company.
Well, I’m trying not to go too far down a rabbit hole here.
There is a wealth of information posted previously on this forum by many posters if one is willing to overlook the frustration that has also been expressed. Most here are familiar with the agonizing history of the past decade or more.
Things are not moving quickly for shareholders. I’ll simply say there is no advantage for AUMC to release more than minimal information at this point in time. I expect AUMC will release required Q3 information and hopefully a positive end of the year message for shareholders. LDM is a greenfield project that has a significantly long option timeframe for Hochschild to develop it’s viability as a producing project. Perhaps shareholders will hear of some drill results from the LDM in the not too distant future. Producing miners and PM streaming companies are benefiting from higher gold/silver prices. While still cautiously optimistic of the future for AUMC, I have largely focused on other opportunities as expressed by many on the the Other Mining Stocks thread while we all wait for news.