Thanks, I will give it a try.
Looks like a lot of selling on the BID today
Thatâs where everyone was sitting⌠willing to buy shares⌠some good size bids were there⌠guess some came down to fill their ordersâŚ
2.8 million in Sells VS 580000 in Buys
Yep⌠3,458,112 MDMN shares bought from those who were willing to sell⌠todayâŚ
Buy PowerBall first and if you win, load up on MDMN.
One concept that might help you close the distance between what AMCâs and Nuocoâs geoscientists know and what we know has to do with the melting point of the metals we are seeking. Way down deep it is super hot-letâs say near 6,000 degrees C. If you follow the movie for the making of a porphyry deposit youâd start with a giant domed bunch of rock called a batholith. Think of the roof of Cowboy (A,T and T) Stadium.
Some sought after metals in the liquid state aggregate under the domeâs roof near the midline. They form an outward projecting âblebâ called an apophysis. The bleb grows in height and becomes a finger shaped âporphyry stockâ. Near the âporphyry stockâ formation it was typically about 3,000 degrees C when these deposits were being formed.
Metals have a âmelting pointâ and if you heat room temperature metals to that temperature they will become liquid. Conversely, if you start out at 6,000 degrees C these liquid metals will become solids again when the temperature gets below its melting point. Rhenium and moly have very, very high melting points near 3,000 degree C. Gold and copper melt at about 1,000 degrees C. During the porphyry forming process as gazillions of tonnes of liquid metals come shooting up that porphyry stock/âchimneyâ the Rheniums and the molys solidify first and become the base of the porphyry.
There are different veinlet styles found within the porphyry stock ( âAâ style veinlets), at the margin of the porphyry stock i.e. the âskinâ of this finger-shaped projection at the top of the batholith (âBâ style veinlets) and in the middle of the porphyry itself (âDâ style veinlets). Rhenium, which likes to hang out with âmolybdeniteâ, will only be found in âBâ style veinlets at the edge of the porphyry stock. It will also be found at the base of the porphyry stock with its cousin moly because of their very high melting points. If you find Rhenium and moly youâve found the base area of the porphyry and the central area of the porphyry near the stock. If you find these two metals AT SURFACE (like Medinah and AMC did on the southern downslope off of the plateau) then your porphyry core typically wonât be too far away.
The good thing about Cu/Mo porphyries is that theyâre the biggest of the biggest. The âporphyryâ deposits (as well as the IOCG deposits) are the elephants in this industry. The bad thing about Cu/Mo porphyries is that they are TYPICALLY (not in this case) found very deep with enormous amounts of overburden. The base of our Cu/Mo porphyry is about 800 meters below the plateau (which is wonderful) but it is actually at surface on the southern downslope off of the plateau at about the 1,200 meter elevation level.
A âGIS Databaseâ is basically a huge barrel of historical geological data readily accessed on computers. At the base of that barrel is the hyper-spectral satellite imagery study done by Perez. He found a 7 Km long swath of about a dozen intrusives centered on the SOUTHERN DOWNSLOPE off of the plateau. This is not the NORTHERN DOWNSLOPE off of the plateau where the LDM and Caren Mine are as well as the Mambo and Columbo groups of concessions.
Perez found evidence of âat leastâ 2 porphyry structures. One was of the Cu/Au variety towards the west and one of the Cu/Mo variety further east. His study evaluated alteration patterns right at surface. He concluded that the majority of the mineralization at the mountain was due to the easternmost Cu/Mo porphyry. Medinahâs Pegaso Nero Cu/Mo breccia is on the southern downslope off of the plateau where the hyper spectral imagery study was centered. AMC has not disclosed yet the lateral extent (east to west) of the moly-Rhenium samples (presumedly from the area near the base of the porphyry) theyâve acquired to date. The average diameter of a porphyry is about 1.5 Km.
The âporphyry stockâ of a porphyry system is kind of like an elevator. The metals will get off at the floor corresponding to their melting points. Recall that a melting point as witnessed as temperatures rise is the same as the fusion/solidification point as enormously high temperatures decrease towards surface. The Rheniums and the molys occupy the basement floor of these porphyry âskyscrapersâ while gold prefers the penthouse and copper in between the two. The content of these porphyry stock âelevators/chimneysâ is constantly solidifying and remelting as new waves of mineralization make their way up from the batholith to the porphyry area. The later waves of mineralization have a tendency to deposit their contents nearer the surface i.e. âlate stageâ epithermal gold.
The other thing to keep in mind is that all of these porphyry models you see in the literature are 2-dimensional representations of 3-dimensional entities. Youâll see the âalteration halosâ and âmineralization halosâ around the centrally placed âporphyry stockâ. These are actually âspheresâ in 3 dimensions. The southern aspect of the Cu/Mo âporphyritic sphereâ just so happens to herniate through the southern downslope off of the plateau.
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The other thing you might look up if you want to dig a little deeper on your due dili is this stuff called âtourmalineâ. It glues together our PN Cu/Mo breccia. They call it a âgeologic DVDâ or the âtime capsule mineralâ. Itâs whatâ called a âmarkerâ mineral and a âscavengerâ mineral. Its properties have to do with its chemistry but it tells the geoscientists what happened when during the deposit formation. Knowing the âparagenesisâ (what happened when in the history of a deposit) is of huge benefit to the geocientists and engineers commissioned to suck every morsel of metal out of a deposit in the most economic manner possible.
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That line begs the question, what self serving legal council were they using up to this point?
Well they had to get plane tickets to go to Santiago sooooâŚ
Disclaimer: this is sarcasm before people run with my comment.
From Aurynâs last announcement,
"These results opens the possibility for AURYN Mining Chile SpA to evaluate the early production in the Caren Mine, moreover the company owns the exploitation permissions up to 5,000 Tn/month."
With MDMN BOD reviewing production sites it appears (to me) that early production is a high probability.
Yes. The updates from MDMNâs BOD are predictably cringeworthy but Auryn seems to be making up the difference and we finally got a presentation after only two decades of waiting. Progress.
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Great info, Doc! And new words for our scabble games. I love âblebâ and âapophysisâ although thereâs never enough pâs and bâs when you want them. But I thought a âbatholithâ was something Harry Potter killed? 
âBleb!â 
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It seems to me⌠if early production is on the agenda⌠the exercising of the purchase option agreement⌠wonât be far behind⌠Auryn will want to own what they produce⌠is my assumptionâŚ
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With a supposed corporate update coming out tomorrow, letâs play prognosticator.
Will a corporate update from AMC come out tomorrow?
- Yes
- No
0 voters
If a corporate update does come out will it have significant market moving details?
- Yes
- No
0 voters
AMC announced the purchase of 230 million shares from JJ and company. JJ and company have only delivered 60 million of them. They are in default of delivering the other 170 million. Do you think this corporate update will update us on the status of those shares?
- Yes
- No
0 voters
Do you want AMC to give us a full update on their holdings including the status of JJ and companyâs undelivered shares?
- Yes
- No
0 voters
We know AMC and affiliates own at least 210 million shares (150 purchased in open market last year and the 60 million JJ and family delivered.) Letâs assume JJ and family donât honor their agreement. How many shares do you think AMC and affiliates currently own.
- 210 - 225 million
- 225 - 250 million
- 300 - 350 million
- 350 - 400 million
- 400 - 450 million
- 450 - 500 million
- 500+ million
0 voters
Whatâs your preference?
- Tender Offer
- Exercise Option
0 voters
If AMC exercises the option do you want them to have BOD control first, i.e. own 50%+ of the stock and have a majority board control?
- Yes (AMC should exercise the option after they have bought 50+ percent of stock and have BOD control.)
- No (AMC should exercise and give the $100+ million for current BOD to use.)
0 voters
What price would you accept for a Tender Offer?
- $0.05 to $0.09
- $0.10 to $0.15
- $0.15 to $0.20
- $0.20 to $0.25
- $0.25+
0 voters
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YesâŚ
MaybeâŚ
NoâŚ
YesâŚ
210 millionâŚ
Blonds or Redheads or BrunettesâŚ
NoâŚ
.07 to .10âŚ
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What about all those shares so many claimed Auryn was selling trying to keep the price of MDMN down, to pressure JJ into accepting their offer, or did that never happen.
Would like to see a true definition of Aurynâs affiliates as well and how their share ownership re the 150M are tied to Aurynâs ownership
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It is funny I can no longer find the announcement where Auryn holding indicates ownership of 150 M shares.