Karl, while I am in the ownership biz, if I had a large chunk of change, like the money from a option agreement, i would get into the royalty;streaming payment biz. Mining/commodities is a cycle biz, money is always an issue. being the funder is key, look at the small guys who recently entered, Oshiko (sic) or Couer, they see the opportunity, naturally they cant compete against the big guys, franco or the mid tiers like Sandstorm, but this is the way to benefit from mining regardless of the cycle.
[quote=ābrecciaboy, post:50, topic:721ā]
Iām not even sure who Iām rooting for prevailing in the legal skirmish between AMC and JJ and the Uncle.
Iām rooting for shareholders who have been stuck in this investment at various untold losses. Itās time Auryn along with their Medinah partner and duel BOD officer Senor Letts to figure out and resolve this mess of messes and move our share price in a positive direction. Figure it out and Letts get on to the business of mining.
6 Likes
Agreed. Iād also add that, IMO, this issue has been the single most damaging variable to our current share price. The resolution of JJās shares will bring immediate relief. Something that many of us have been arguing for the past six months. Not only will Auryn officially enter the point of no return (after paying for this large block of shares) but it will bring them closer to a point where they are actually interested in seeing the shares appreciate in value. They will also be more willing to pay up for additional shares once they have secured this larger block. Unless you plan on spending your gains in this investment as a reincarnated kangaroo in another life, itās pretty clear what you should be rooting for.
9 Likes
I think some Medinah shareholders are actually more concerned about JJ shares than Auryn is!
Couple more points to add:
1)It should be obvious to everyone now that the selling/bid wacking has been stopped. Purportedly all it took was Claro requesting certs for his shares.
2)It appears still a go for a corporate update from Auryn this week.
3)Drilling of the Merlin veins likely has restarted(or will very shortly) on the mountain after the holiday break. I would think Auryn will report on results just as soon as assays have been received and reviewed.
3 Likes
??? I suggest you post less and listen/read more.
2 Likes
Now thatās what Iām rooting forā¦ a corporate updateā¦ and assay drilling resultsā¦ Iām with you on JJās sharesā¦ Auryn has already passed the point of no returnā¦ and is moving forward with or without JJ and Family sharesā¦ Also looking forward as to what comes from the Mid January meetingsā¦ hoping some meaningful updates come out of that tooā¦
Mike .
What is turnaround time on assay samples just submitted? In the past it was a month during the Chilean summer? Exploration activity is down so it should be better but I donāt know how much? I hope you are not saying they will wait until the current drill samples are assayed before we are told of assay results on the 1,600 assays already finished
WE,
The report / update in Dec was the summary of the ā1600 assaysā taken in the many Merlin trenches. I wouldnāt expect much more information about that. It was a typical good summary of a lot of work. Auryn isnāt going to send out an excel spreadsheet with 1600 lines of data in it if thatās what you are expecting. And even if they did it would not do anyone here or the market any good beyond what they put out.
1 Like
Regarding Merlin 1:
Systematic sample at different adits levels was done and results are pending.
I expect weāll see these assay results next.
1 Like
Though I wouldnāt want MP to go soft on one of its favorite whipping boys. This really is good news. Not only would the selling stop. But it would tighten the screws a little harder on any manipulation in the stock, if it exists.
2 Likes
Mike or anyone else
How deep is the enrichment zone if there is one on Merlin 1.and if so how enriched? You got it Easy Million.
Did they drain the Fortuna mine so they might has similar info there? How deep is the good stuff? Open pit possibility is what we all want.
With Claroās shares no longer there, it should be clear sailing to at least .03 I would think. Level 2 seems to even suggest that has well. At some point, some flippers will emerge but at least they donāt tend to bid wack aggresively when they take their profits so hopefully no harm done.
2 Likes
My daily charts showed the first signs of a reversal on 12/14 when the MACD cross into positive territory. That reversal was further confirmed when the 5 day EMA crossed the 20 day EMA to the positive side on 12/28. I usually require at least three indicator turning positive before I say a reversal is in place and the third indicator was 12/31 when the RSI crossed above the 50 mark. To be safe I have been waiting for the weekly chart to show signs of a confirmation of the reversal as well, which as of today appears I have at least one, if not two indicators crossing into positive territory. If MDMN can close at or above the 20 EMA of the weekly charts which is at about .019. and for at least 3- 4 days on the daily chart I would be able to say with a high level of certainty that MDMNās bottom is in fact in placeā¦ JMO
4 Likes
John,
Letās try to see where we disagree. I think we agree that AHC/AMC is going for control meaning the procurement of about 700 million shares. They currently have the original 150 million plus 60 million delivered by the Quijanos. Thatās 210 million shares leaving them 490 million shares short of control.
If they DO NOT get the Quijano block they need to procure 490 million shares out of the open market. If they do get the Quijano block they need to procure 320 million shares out of the open market. If the Quijanos win that case then it appears that that block would stay out of play until some share price north of their agreed upon price, letās call that perhaps 15-cents.
My opinion is that Iām not sure which outcome of the legal skirmish to root for. Would the average shareholder benefit more from an extra 130 million shares of open market buying or getting rid of the Quijano block. I really, really, really donāt know which outcome to root for. You suggest that getting rid of those bad old Quijanos is much better than the benefit of an extra 130 million shares of open market buying. Iām not so sure.
Although I donāt know the behind the scenes story about the role of Claro, the Uncle and JJ and the ownership of the various corporations holding those Medinah shares, I understand the past frustration with the Quijanos and Ulander. But balancing out that frustration with whatās best for the shareholders from this day forward is what we might want to focus on.
You suggest that AMC gaining the Quijano block will put them āall inā. I disagree, I think theyāre already āall inā and theyāre happy to be āall inā. Your comment: āUnless you plan on spending your gains in this investment as a reincarnated kangaroo in another life, itās pretty clear what you should be rooting forā is yet another example of you telling us what our opinion SHOULD BE when it is contrary to yours. I think my points are valid and that there is another side to this coin that should be considered. The whole issue is in the hands of an arbiter or a judge so Iām not sure why you would choose to attack a comment like mine citing that Iām not sure which outcome to root for.
6 Likes
When people challenge your points they arenāt āattacking youā, they are disagreeing with you. Instead of saying āoh geese I better get in my tankā a response to the question, like you offered above is much preffered. Unfortunately your natural instinct is to assign labels like āslandererā and ādeceitfulā when I opine that insiders have been selling. (Which turned out to be true). I would think your āfaithā would have led you to an apology for those remarks but a certain āanger itchā you have for anyone who differs from your fantastical storytelling precludes you from doing so.
As to what outcome to āroot forā. I would much rather the issue for JJās shares is resolved NOW to stop the technical damage this issue has already created. Once again, this man has destroyed value for the common shareholder. A concept you have never been able to grasp. We disagree on this point. Fair enough.
Once JJās share have been secured I believe Auryn will aggressively move to take controlling interest. Time is money. Another concept that seems to escape you. Whether the Letts have to buy 200, 300, or 400 million shares isnāt really the issue. They will get there through private blocks and open market purchases. Itās more about WHEN they start doing so and HOW much of the technical damage done to this stock over the past 9 months is irreversible. Every day below 7 cents has consequences. How anyone involved in this mess for 20 years is NOT rooting for JJās final ābootā is beyond me but thatās your prerogative.
As an FYI: I believe the price being offered for JJās shares is closer to 8 cents and this number hadnāt changed for over six months. If Auryn were offering 15 cents JJ would already be sitting on his porch drinking pear daiquiris.
7 Likes
That is so true Doc, you can argue for both sides of the coin. Just like if the price on JJ shares are too low that might justify a lower price on our shares too. Or if they pay less for JJ shares they will have more money to pay for our shares.
Great post Doc. Yesterday, I almost posted that it was a good sign that you did not know which scenario to root for, since it meant that either way would be a good outcome for you.
And on a side note, should the 130 million in your post,really be 170 million?