scamp15h
Announcement from AURYN TOMORROW.
Feliz Navidad?
Hereâs a replay of that remarkable picture from the north side showing the trenching and the vertical spacing of the adits apparently tracing Merlin 1 for about 150m to depth by looking at it from the side of the mountain.
And, btw, Les claims to have physically been inside that top adit on one of his trips when Auryn gave him a tour. That tan dirt pile at the end of the trenching on the top of the plateau is what I am claiming is the âmining worksâ which is circled on the previous image.
BOD and management of public companies are usually measured and judged by the stock price. Right now we have an option agreement with AMC that most of us think has a 100% chance of being executed. The market gives it at best a 20% chance.
BB, Baldy, you, me, and everyone else can say whatever we want. The report card is completely visible and the public grades the BOD and management everyday in the market.
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Hi Rod,
If you go to:
and go to slide 6 of âThe Merlin targetâ it shows the old workings on the plateau of the Merlin 1 Vein. You can see on the approximately 8 oclock location of that red dot thatâs unmarked a whitish yellow area. Thatâs the argillic/Jarositic alteration envelope that surrounds that vein at the old workings on the plateau. The argillic alteration envelope makes it real easy to trace out the vein via the IP/CSAMT (resistivity) readings.
You can see the red dot to the right of this one labeled âMerlin-Fortunaâ. Between the unmarked red dot (Merlin 1) and the M-F red dot which is actually the Fortuna Vein there is a 1.5 Km wide âalleyâ of a whole bunch of Merlin Veins that did make it to surface and subparallel veins that didnât make it to surface. On slide 11 of the new power point deck you see the dotted lines labeled âlineamentsâ. These are areas visible from an aerial view which show where the fault containing the Merlin veins carry on after the most recent trenching was done. Since no trenching was done you canât yet call it a âveinâ.
The 5-plus lineal kilometers of these Merlin/Fortuna veins that made it to surface is probably actually north of 10 Km in total lineal extent after you factor in the fact that these findings are âopenâ in all directions and the veins that didnât make it to surface arenât labeled. When I inquired about the open pitability of these structures I got back an unofficial âundoubtedlyâ and thatâs important.
CHG has a real nice Google earth image he labeled âMerlin 1 north side of the plateauâ aiming southwards which shows this white spot on the plateau (the old M 1 surface workings) as well as the 3 adits AMC drifted coming down the north downslope from the plateau. You can visualize the âsheet of plywoodâ aspect of M 1 real easily.
Same problem we have always hadâŚlack of transparency. Until that changes (if it ever does) we will have wild speculation, and our share price will suffer.
Nailed it KMTâŚ
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For me the whole reverse merger idea is speculation which is what we are all forced to deal with since we are always left in the dark by management. But if it did happen I think this is what has been missed in the conversation.
MDMN contributes 100 million in cash (which really will not be 100 million due to taxes and debt payments) for its 15%
Auryn contributes leases with a fair market value of $566 million for its 85%. Just because MDMN contributes cash does not mean Auryn has to contribute cash, they can contribute other assets (leases) that have a FMV pro-rata to their ownership.
The new merged company going forward has 100 million in cash and leases.
Auryn canât pay Medinah 100 million for 85% then turn around and contribute that same property and claim it is worth almost 600 million.
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Why not, that is why they are doing the explorationâŚif they prove there is 600 million with of minerals, I think they can. Once they pay the 100 million they own 100% of the leases. What will the fair market value of the leases be?
No, I just want this topic of discussion to go away until we have new facts.
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L&G: KMT and others are not short-tempered. We happen to know, from being invested in MDMN for so long, that all the logic you aim to use to clarify may not, in the end, have any material impact on the outcome. Logic does not seem to work with MDMN. Iâm not speaking for KMT, as I know him to be very logical. I am speaking as a long time MDMN shareholder who has seen little ever come to a positive conclusion (for us common shareholders) with this company. Hence, the statement that KMT made that MDMN share price is a reflection of marketâs assessment that even with the agreement with Auryn, that there is < 20% chance of it materializing into a positive outcome for the MDMN shareholders.
question for everyone on this board
Where would be be trading at today if our buddy Claro wasnât hitting the BID for the past 12 months?
I donât think we would be trading at .0135
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The quick answer is ânoâ but the real and true answer is there is really no way to know for sure what we would be trading at.
There is nothing to discuss. The concept of AMC exercising an option and reverse merging into a public shell and possibly acquiring MDMN is easy to understand for those with an aptitude for it or those who have done the research and have some background in it.
There are way to many unknowns to discuss it further. When people who donât understand it continue to discuss it they confuse people even further.
Again, it doesnât matter what any of us think should happen or will happen. AMC is driving the bus and it will be done their way. Given their current actions of buying 380 million shares, their interests are aligned with ours. Thereâs not much anyone can do for those confused on that point.
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I agree Iâm sorry I brought it up again.
The clarifying language to this actually silly head-butting discussion is whether or not:
Auryn either INVESTS a minimum of $100 million into MDMN
vs
Auryn BUYS 85% of MDMN for a minimum of $100 million.
IMHO, we donât know jacksh*t of anything. IMHO, weâre simply halfway into the equal of a 3-year escrow that can fall out anytime. For the next give or take 18 months, Auryn gets to play around on our mountain and allow some here to speculate and predict rainbows & unicorns may suddenly appear at any time.
Please try to avoid telling me I donât know the direction of my @ss if you choose to respond. Instead, in less than a zillion words, please instruct what significant issue Iâm missing. Thank you in advance.
GC,
We do know some things. And it is very important to keep clear what we do know and what we are speculating about.
The ADL Option contract has been published and can be downloaded and read. Few have bothered.
http://www.medinah-minerals.com/images/mdmnpdfs/AURYNAgreementeng451pgs.pdf
This document is a known. It has a timeline. And it explicitly defines the ADL Option transaction: $100M + 15% of Auryn (AMC) to Medinah Chile (MMC). 100% of the ADL claims to Auryn Chile (AMC). In addition, Auryn is obligated to spend at least $1M in ADL exploration expenses (already completed).
That is a legal known and should frame all other conversations. There are other knowns like the NUOCO Option. But at this time we have no legal document, just a PR. So we can not be as specific in what is known in relation to that option.
Then there are speculations as to how things could happen outside the scope of these knowns. At this point they may be supported by greater or lesser logical arguments, more or fewer rumors, but they remain speculation and rumor until further external evidence comes to light.
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