The Mining Play

Medinah/Auryn - 2019 - 4th Quarter General Discussion

The conversion from Mdmn to AUMC has to take place Someday correct? Or can we just sit here with Mdmn shares that never convert?
Are we waiting on AUMC or Mdmn now to get this done?

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I believe they are pitching a different project. FYI. MDMN does not seem to be of much focus these days as H is dictating the pace, or lack thereof, if advancing things.

AUMC at 10-20 cents seems like a decent value, on a very rough, relative comparison basis. MDMN is impossible to value as nobody knows any of the key metrics to determine the same. As has been the case for a long time.

All IMHO

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.0009 on the ask and nobody is touching it. 93k shares traded on aumc. Is that correct, and if so an all-time high for volume?

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why pay .0009 when you can get it for less tomorrow?
Never thought I’d see this in trips territory.

Looks like it. Córdoba should be ashamed of himself.

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https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2019/11/12/crikey-what-s-going-on-with-gold-by-grant-williams/play/stream/28893?fbclid=IwAR0T3e2ufRIq6mytFz7Y-N_HA2baYZ5vpKZUxjwrziTtT0NLbeqny1tnIv8

Really enjoyed this, worth the listen IMO

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Thanks, very interesting - For those who have not listened, this 30-minute lecture gives historic perspective about the current price of gold. I’ve listened to it once (about 25 minutes) but would need to listen to it a couple more times to properly understand all his points (and there are many). I wonder if Rob McEwen listened to it (add unwarranted, fleeting smile here) - haha!

Rob had it posted on FB, I grabbed it from him :wink:

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Have you ever noticed that when Rob is in a conversation and makes a point he will just stop and give you this big smile/grin? Maybe he’s showing off his teeth-whitening job? I don’t know, but it’s kind of strange how he does it - maybe if I was a female I would like it better? And I think that little smiley face at the end of your last post signifies that you do indeed know what I’m talking about? Haha!

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Dos Marias still appears in the latest Hochschild presentation, pg 12 (same as before). [1]

I noticed here that their entire Greenfield exploration budget in 2019 was $10M and they intended to do drilling on 6 properties non of which are Dos Marias. [2]. No wonder they didn’t spend much in 2019 on the LDM.

We’ll have to watch upcoming presentations and announcements to see what they have planned for the 2020 budget. As mentioned a few weeks ago the higher PM prices have enabled them to improve profitability significantly and lower debt materially. So hopefully more money will flow to Greenfield exploration in the coming months.

And Auryn filed today for late Q3 filing:
https://backend.otcmarkets.com/otcapi/company/financial-report/234704/content
So a while longer to wait I guess.

CHG

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  1. http://www.hochschildmining.com/resources/1550/1H_DENVER%20GOLD%20FORUM_FINAL.pdf

  2. http://www.hochschildmining.com/en/about_us/our_vision/exploration

fyi - Tuesday the 19th is the new Auryn filing day … unless they file for another extension. The reason for the delay is given as “Gathering/clarifying information”

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Quarterly Financials: https://backend.otcmarkets.com/otcapi/company/financial-report/235279/content

Quarterly Disclosure: https://backend.otcmarkets.com/otcapi/company/financial-report/235278/content

Nearly zero new operational information. The Disclosure has been nicely reformatted with clear disclosure of officers and major shareholders. That’s an improvement. Still $21 in the bank.
They are accruing some semi-small amount of debt as someone is paying expenses (probably for the claims maintenance ?) for the company which becomes a loan to the company due with interest. The company owes about $40K now.

There is one statement of interest re. Hochschild:

To date Hochschild has performed various field works and a IP Geophysical survey.[1]

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  1. Para 5 of the Disclosure
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Wait. What? The company that we are all waiting breathlessly to convert our MDMN shares to, has $21 in the bank? Twenty one? 21.00?

Vark

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Hochschild issues 2020 guidance:
http://www.hochschildmining.com/en/investors/news

Production will be down somewhat. Only $8M budgeted for all their greenfield projects.

yes - BUT… that $21 has been there for at least a year or more. Solid financial stewardship, I say…!

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MC can use that $21 to buy 1 box of Panettone for the crew this Christmas.

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November 2019 – Shareholder Notification

Nov 24, 2019

AURYN Mining Corporation (OTC: AUMC) is pleased to inform its shareholders about the following updates regarding the Fortuna Mine.

For the last few months AURYN has been dewatering and putting in reinforcement in previously developed tunnels of the historical Fortuna Mine, located at the Altos de Lipangue plateau. The Fortuna Mine has produced up to 85 g/ton in the past.

AURYN is aiming at the recovering of this site. Once work has finished and the mineralized vein is uncovered, a systematic sampling campaign will be done in order to decide what will be developed in the future. The AURYN team has come to the conclusion that the several high grade veins are all related and interconnected, including the Merlin and Larissa vein, and tentative mining plans are being reviewed.

A communication will be posted regarding progress and once an exploitation approach is decided.

Visit our website for photos.

https://aurynminingcorp.com/november-2019-shareholder-notification/

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One should recall the previous conclusions that a complete epithermal system is present on the Lipangue plateau portion of the mountain. (https://www.911metallurgist.com/blog/epithermal-gold-deposits-characteristics i.e Fruta Del Norte style deposit.) It is very rare to still find a system like this basically at surface as generally they have already been mined elsewhere.

See attach map which shows the relationship of the known vein systems between Fortuna mine and the Caren mine (Larissa vein).

Eventually, they will have pushed recon as far as they can and an a partner will emerge to exploit what is likely a multi-million ounce high grade deposit.

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The last update on fortuna mine in July was they had 90 meters allready dug out…how many meters of tunnels are they digging out?
Things are progressing but at a low budget pace I think…I would of thought they would of had all the tunnels dug out within 6 months but I guess not.
I guess 1 or 2 guys with shovels take a lot of time

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I’m pleased to inform shareholders that I woke up this morning, brushed my teeth and made myself a turkey sandwich. Shareholders should expect another update in 12-18 months at which point we will provide further details on what I had for dinner.

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