From Auryn May16 announcement:
“As we progress toward full scale production AURYN will provide updates regarding costs, mine life, and reserves. In addition, we will be updating our shareholders regarding possible cash distributions after the first quarter of full production.”
Maybe that’s going to be the best avenue for everyone’s ROI.
Seriously, you would think that Auryn would be out for the blood of the thieves, especially given whose blood it is…that of Les and Juan. I am still having a hard time dealing with what they have done to us over the years and now this. I am not a very religious person but I am certainly saying a few prayers that Les and Juan will be soon held accountable for their criminal actions. But knowing those cockroaches they have probably covered their trail in some way.
Sorry for my rambling but I am just so rotted. This is the end of my complaining.
Now we need some good news from Auryn.
Well said, Karl my friend.
I am not saying we should be joyful, gleeful and gay (older meaning 
) but we are already suffering from a very hard blow and we don’t need any more doom and gloom predictions.
Madmen has “only” 125K invested. I know a few people, included myself, who have much more invested in this so far POS stock. In my opinion, Masglas and Auryn are already handling the situation and they will update us as things evolve.
Well said, Karl.
Nice to see you back Kevin. I’m sure you’re not to happy for what had transpired. Hope you can shed some more light.
One would think that the “Docs of the world” who’ve been expousing about NSS for the better part of a decade and even presented the same at a SHM would make the quick trip to Vancouver and sit down with Les. It would probably take less time than writing another ridiculous reiteration about dividends and disconnects.
I have no doubt that Les would accept the meeting given Doc’s unwavering defense of the man and I’m sure everyone here would appreciate, and at a minimum be entertained, by his “explanation” of the magically ballooning share count. He’s in his office and emailing shareholders that he’s not to blame. Seriously
From Nov 2015, more sage advice from the Doc:
“These issues are very complex. This complexity allows those with an insatiable anger itch against management to constantly proffer statements like “management is illegally selling restricted securities”. Even if management were selling, how could one tell if those shares management earned 18 years ago and for which the restriction period has long since expired were involved or not. You can’t. BE CAREFUL!”
There is no doubt in my mind Les is the kingpin in this and will try to lie his way out
The man has no remorse and sick in the head
Maybe Bogdan can send someone to visit him
Bogdan had to know what JJ and les are capable of that’s probably why he sold those shares to protect himself from being screwed. Maybe bogdan is not that bad of a guy after all and there’s more to this story.
Always ranting against Doc. Why don’t you go see Les yourself… He might even be glad to see you, as he was so close to your father.
I can understand this type of emotional response.This whole saga must be very embarrassing for you. Trust me, I’m not doing cartwheels about Les’, now confirmed, malfeasance but I take some solace that I wasn’t dumb enough to be defending the guy this whole time.
The only positive (beyond those for CDCH) is that even folks like yourself and Doc should finally be able to recognize the root of our problems and stop venting at “whining” shareholders who seem to be dwelling about the past. Recognizing the problem is an important first step.
Anyone remember “the good old days” when JJ was at the helm and signing off on EVERYTHING?
(OK - Maybe they weren’t so good as everyone was led to believe - including AURYN, at that time, IMO).
Shareholder Update
We are pleased to announce that we have received a firm written offer from a group of well-known and highly qualified Peruvian mining experts to immediately commence development of the entire Altos de Lipangue properties. Medinah has until June 9, 2014 to accept or reject the terms of this agreement.
Additionally, there has been accelerated interest in the Altos de Lipangue project with major and mid-tier mining companies actively expanding their knowledge of the property, predominantly in light of recent discoveries at the LDM/NUOCO mining projects. These companies have requested and received signed confidentiality documents and agreements that are on file. Therefore, Medinah Mining Chile has allowed each of their crews access into the field and visitation to the location of the stored core samples.
Medinah Mining Chile’s Board of Directors, after previous failed attempts, came to the conclusion last July 2013, to hire a professional team of consultants in order to review issues and assist in presenting an industry-standard mining option Joint Venture Agreement (JVA), or any other acceptable form of association.
After full diagnostic review, the consultants determined that the main concern to address in order to secure an industry standard mining option was that Medinah Minerals, Inc. must take immediate steps to consolidate all of its mining claims under one entity. Over several months, all necessary acquisitions, full title reviews, cessation of encumbrance endeavors and notarizations, the tasks were completed and negotiations began with various mining conglomerates. A company agent was enlisted to be the main representative negotiator for the Altos de Lipangue (ADL) project.
Management was later advised, by the representative agent, that several complex legal issues were impeding potential transactions and also needed to be resolved. These matters were handled and formally notarized for presentation and ultimate approval by the Chilean Ministry of Mines in December 2013. In January 2014, Medinah Mining Chile was noticed that it had clear ownership of the entire Altos de Lipangue group of properties. Medinah Minerals, Inc. then legally acquired 100% ownership of all of the shares of Medinah Mining Chile.
Over several months, various mining companies have sent representatives consisting of geologists, mining engineers and management teams to view the ADL. Documents and historical issues were provided, as requested, to each of these entities. Further verifications of core samples have been undertaken by several potential partners. Each of the groups also visited the privately-held LDM and NUOCO properties.
Medinah Mining Chile will thoroughly investigate every offer presented by the team of consultants in order to capitalize on increasing the value of the Altos plateau properties. These offers are being reviewed by Management and the Directors of Medinah Mining Chile, and Medinah Minerals, Inc.
Juan José Quijano Fernández
Call it just the beginning of the current saga. Waiting to read the next chapter in this very long story.
I know all earlier contracts, agreements or addendums were cancelled with the completion of the ADL acquisition. Just wondering if material fraud, if it were clearly demonstrated, would leave room for the bolded clause below to be recovered, among other things?
Medinah Mining Chile Announces Acceptance of a Binding Framework Agreement
Jun 30, 2014
OTC Disclosure & News Service
On Friday, June 27, 2014, Medinah Minerals, Inc. (Pink Sheets: MDMN) reports that its Chilean subsidiary, Medinah Mining Chile, signed a binding Framework Agreement with Peruvian JV partners in the city of Santiago, Chile with regard to the Altos de Lipangue group of claims in Chile.
The Framework Agreement terms involve the sale of 85% of the Altos de Lipangue group of claims for a minimum price of US $100,000,000 in an all cash transaction upon the final exercise of the Option Purchase Agreement. Medinah Mining Chile will retain a 15% equity interest in the properties.
A Chilean corporation will be incorporated within the next 30 calendar days. This new sub-corporation will be a wholly owned subsidiary of AURYN Holdings Corporation (“AURYN”). Concurrently, the JV partners, lawyers and their mining consultants will complete due diligence in order to legalize the three year Option Purchase Agreement among the parties.
The parties have agreed to an enforceable US $3,000,000 penalty if either of the parties fails to comply and/or perform relative to the requirements articulated in the signed binding Framework Agreement.
The Board of Directors of the subsidiary Company will be comprised of the following individuals:
Mr. Jose Roberto de Romana Letts, President-CEO-Director
Mrs. Irene Letts Colmenares de Romana, Chairwoman of the Board
Mr. Italo Volante, Esq.- Secretary-Director
Mr. David Bent, P/Geo-Director
Mr. Carlos Jimenez Rodriguez, Esq.- Director
Mr. Gregory A. Chapin, Secretary/Treasurer of Medinah Minerals Inc., stated: “We are excited to have reached an Agreement containing the necessary steps to formalize an Option Purchase Agreement with a recognized group of sophisticated mining individuals. Collectively, they possess an incredible amount of mining expertise as well as the financial wherewithal to successfully explore and develop the Altos de Lipangue claims to their greater potential. We look forward to completing the final documentation and capitalizing on the value of the ADL claims through this exciting partnership.”
This release was jointly approved by the parties to the Framework Agreement.
Further specific details as to the planned project development activities will become available at www.medinah-minerals.com.
Juan Jose Quijano Fernandez
Chairman/President-Medinah Minerals, Inc.
Try reading the Old Testament. I am personally damaged financially via these crooks actions and am a firm believe in an eye for an eye treatment of those who are responsible.
Is this still in effect?
Does anybody know the period when the illegal selling of MDMN shares by Les and Juan were transacted ? Was it before or after the April 2014 acceptance of the binding framework agreement between MDMN and Auryn ?
Since 2012
Thanks GC. So it is obvious that Auryn clearly has solid legal recourse against the culprits for their fraudulent actions. But is it strange that Auryn did not suspect the discrepancy share situation before the execution of the framework agreement? Anybody?
Pls tell me if I should not be asking these questions on the forum. I am not trying to be negative, just naturally curious how this discrepancy occurred.
When contracting… there is a certain amount of compensation that both sides are being up front and wanting the contract to be the best for all parties involved… That being said, knowledge (after the fact DD), that one is suspected at being inscrutable, positioning, getting one out of the way and finding out that he is maybe just receiving shares or compensation by something even worse… time to make sure your house is in order, cover yy @ss and direct your principles where your assets are " the mountain", find out how to best recover what you have committed to. Does this best represent Medinah… maybe or maybe not, but for those of us that are unrepresentative… they are our best alternative to throwing a ton of money at having, maybe, a better outcome… moo
Remember, they are solely interested in the mountain and the surrounding properties, they have an investment… the only ay to make money for them is now to produce… All of this is just a sideline that needs to be out of the way…
Am I right saying this it will only cost les and his cronies 15 million to buy back the other 1.5 billion shares at .01 that just hit the market. I’m sure he can come up with the money after how much he took from shareholders. Hope he didn’t spend it all in one place