Oct 1 - a date to remember - auspicious?
More than just an informational meeting going on.
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I donât think you need to be concerned about that for a couple of reasons:
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AURYN does not control MEDINAH. MEDINAH is its own company with independent directors.
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It will be discussed during the MEDINAH portion of the meeting, not during the AURYN portion of the meeting.
I look forward to meeting everyone who is coming to the October 1st, AURYN Informational Meeting.
Remember to register if you havenât yet. It looks like we will have over 150 people in attendance.
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Thatâs about twice as many that attended the previous official SHM!
Interest has never been higher. I would venture to say many shareholders have a very large stake in seeing that Medinah and Cerro Dorado are successful in monetizing assets through the success of AURYN and MASGLAS.
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I deeply regret I could not attend so, please, be kind to keep TMP audience well informed on these pages.
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OT?
I very much appreciate your spot on post #76001 over on iHub.
Even some of MDMNâs harshest critics over there recognize the great points you made.
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The answer to why these crooks arenât in jail already is quite simple. The SEC is understaffed and overworked. There are thousands of companies out there who engage in similar behavior and get away with it on a daily basis. The SEC cannot keep track of them all. Since MDMN is not an SEC filer, the activity and shareholder angst probably hasnât even registered on their radar. They get hundreds of complaints each day and they need to prioritize. The SEC will always locate resources to the âEnronsâ of the world; the âMDMNsâ of the world will only get attention if there is significant malfeasance. For all we know, the share cap was lifted when the deal was restructured. If so, the share issuance may not have been specifically illegal. remember, MDMN doesnât file with the SEC. Iâm not saying the share issuance wasnât wrong, what Iâm saying is that the behavior may not have risen to the level where the SEC would step in. Frankly, MDMN shareholders are lucky the SEC didnât step in and suspend trading. If they had, weâd all be really screwed. We need to see how this plays out. Hopefully, Auryn goes after Les and we get some justice but for now, weâre stuck until new information comes out. Iâm looking forward to the informational meeting as well as talking to many of my fellow MDMN shareholders.
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The share issuance was bad enough but the fact these a$$holes kept selling the shares is burning in itself
Why canât we just proceed as though we permanently have 3 billion shares outstanding? (which we do) That way we can just apply an appropriate price, (which we have) and we can just move forward with lower expectations, due to dilution. Personally, I do not care who does and does not go to jail. It is not going to change a thing. This is penny land and if this surprises you, you should have never invested in the first place. This is no different than what is currently going on with Wells Fargo. It is still corruption, and it is everywhere you look. Letâs just hope it is over for us. Plus if we âever doâ retrieve any shares, just consider it a bonus. At this point, I still think we can reach .03 or better within a year. That is still up 200% from here and is probably my exit point, which barely gets me even after seven very long years. Now letâs get going with production news, along with our regular updates and photos. I just want to start seeing some green on a regular basisâŚ
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Are you * serious?
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Bit of a loserâs attitude to let scumbags like Les get a proverbial pass because we are trading on the bulletin board? Very reminiscent of the laissez-faire attitude from many shareholders that got us in to this mess in the first place.
BUT, if we go your route and assume 3B shares outstanding, weâre sitting on a $30M market cap. AMCis targeting 25k ounces next year. If we assume a $700/oz margin that would be $17.5M net of which MDMN technically owns $4.375 (most of which will go back onto the mountain). If youâre looking for 3 cents or $90M that looks pretty rich based on a cash flow analysis. Hard to support until the define the resource and come up with s PFS, at a minimum.
Youâre (weâre) going to want to claw back those shares and Nuoco. Stock ainât going anywhere until we get progress on the same. CDCH is s different story but also cloudy b/c of the lack of liquidity.
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We are one week out from the AURYN Informational Meeting. AURYN is covering all the expenses (including a nice breakfast at the Mirage.) There is no cost to MEDINAH or its shareholders. MEDINAH has asked AURYN for the morning slot to communicate with our shareholders and AURYN has given it to us.
If you can afford the transportation and lodging expense, I highly encourage you to register online and attend the meeting.
A friend of mine once told me that being a MEDINAH shareholder was like living on a mushroom farm. They keep you in the dark and throw manure on you.
For a long time, that was true. But it changed for good on June 16, 2016. You will see the fruit of that next Saturday. There wonât be any manure and there will be plenty of light. It doesnât mean everything is rosy, however it does mean you will hear the truth.
I hope to see you there.
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Thatâs why I said: âHard to support until they define the resource and come up with s PFS, at a minimum.â
There arenât a lot of minersâ supporting billion dollar market caps without a profit but it they are, they have a massive reserve (no not a resource).
Considering you stated the following, only three days ago:
I just noticed they put 3B oustanding shares on IHub,i tought they wouldnât ad them because they are not legal, and I think they are more like air shares, donât even think they have been traded. .
Me thinks you have some catching up to do.
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Yours is an easy attitude to have when your cost basis is under .03. My cost basis is above .10 and the odds of getting above that are reduced by 50% with our OS doubled from what I and everyone else believed was a 1.5 B cap. I envy you having such a low basis, but Iâm not about to spend another $200,000.00 on this stock to get my basis to .03 so that I might get out even someday. LP and perhaps other members of management threw shareholders under the bus and lied to our faces while lining their own pockets. Sorry, Iâm not in the mood to give anyone a free pass when Iâve offered over ten years and a million dollars of support (in legitimate market purchases of shares) to this company.
Personally speaking, I want those responsible for this to receive the appropriate penalties and I want to see every illegally sold share that can be accounted for returned and MDMN back to the 1.5 B OS we were lead to believe was the case.
I have been amazed for years at how so many people never seem to understand just how directly related the number of shares outstanding is to the share price of a company. Anyone who doesnât understand that should NEVER invest a PENNY in ANY stock until/unless they do.
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Someone else has brought up the point that white collar crime isnât tolerated so well in other parts of the world. China, for example.
Maybe thieves would think twice before wrecking peopleâs lives if they faced the appropriate justice.
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While I agree with you 100%, Re: the SEC I would venture a guess that the FBI would love another crack at Olâ Lester and I hope they get their chance. I have a hard time getting past the thought of where we would be right now today had we gone with Auryn in the first place some 5 years and many millions of shares ago.
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And, btwâŚ
Hello to everyone! I hope you all had a great summer and are enjoying life. I retired from trading in March or April this year and havenât looked back, with the exception of Medinah and Cerro unfortunately.
My best to all.
Rich
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