Good morning MDMN shareholders!
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You seem cheerful this morning? nice way to start the day, good morning to you!
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Rick,
Per your request yesterday, here on the claims that Juan is still tied to per Chile government website.
See below. Some of them are in his name, some in Agroinversiones, some in another Company, some that overlap or otherwise in the process of being transferred or simply out of date. To make it a little less confusing, I left off all the more recent âgreenâ claims that in many cases overlap the mining claims outlined here. This map is probably more confusing than useful. (I should also point out for those that donât know, the name listed for the claim is often just a point of contact/attorney/geologist and often is not the actual owner of the claim. Companies often like to hide their identifies on what claims they own.)
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Thanks Mike.
Iâm going through the 12 step MDMN program - Iâm on acceptance.
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Caren Mine Update
November 15, 2016 @ 10:20 am
AURYN is pleased to provide the following update regarding mining operations for the Caren Mine at the Altos de Lipangue Project.
As previously disclosed at the AURYN Informational Meeting, production mining operations began the end of September with AURYN submitting the appropriate filings upon reaching the main vein on level 3 of the Merlin 1 vein.
We have taken a conservative, methodical approach in order to assess the best way to mine what appears to be a complex system of veins, not all of which are economical. Progress has been steady as we work through normal issues that must be overcome before we attempt to scale mining operations.
We are engaging independent consultants to conduct a full granulometric analysis and finalizing the paperwork necessary to begin ore shipments for processing. As announced at the Informational Meeting, our plan is to ship three truckloads of vein material for test production runs. We expect this to be accomplished by the end of November 2016.
We will not make our goal of producing 5,000 ounces in 2016, however, we do expect to be cash flow positive by year-end. We will provide a more detailed update with the results from our test shipments once they are available and will inform our shareholders when we achieve consistent production.
Submitted on behalf of AURYN Management.
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A little set back, not all veins are economical? Is that normal?
I would believe that not all veins being economical is more normal that finding the ones that are economical.
It appears that AURYN will be concentrating on the veins they have determined are economical, otherwise they would not expect to be cash flow positive by year-end. 
Cash flow positive by end of the year is HUGE. Any guesses what that would translate to in dollars? It would be interesting to know what their monthly operation costs areâŚ
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Werenât they previously focusing on one long vein? Now there is a complex system of veins?
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Nothing has changed. They are moving forward just a little slower that they originally hoped. Nothing more, nothing less.
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I believe it is just poorly worded. I donât think it is the actual veins that they are labeling economical or not, but rather the approach to mining them.
What a shame. Good news (cash flow positive end of year)âŚGood volume (over 3 million shares) and no price movement. Very frustratingâŚ
Maybe you have the 7 people who did comment on the post ignored?
Really not too much to comment on regardless. The PR is matter of fact and alerted shareholders that Aurynâs original 2016 goal of 5,000 troy ounces will not be met.
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With a cutoff grade of 15 g/t, narrow veins might not meet this criteria, and thus will not be considered âeconomicalâ at this time for early underground mining methods. More productive areas will be exploited first. Best recovery methods for processing the high content ore from wider, richer vein structures are currently being defined before larger scale production begins. We will hear about the results of the testing and methodology selected at the appropriate time, that is, when the results are concluded.
Although gold deposits mined around the world are different,
there are some factors to be considered at the moment of performing
metallurgical tests or study the problems during the operation.
Particle size
Probably this is the main factor to consider in any
metallurgical evaluation. For example, native gold can be recovered by gravity
equipment and the gravity tails needs to be reground to a finer size so that
the net process can achieve good performance.
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I have been adding over the last few days and I am done for now. It just seems to me the risk is acceptable when the share price is so low.
When we discovered that we had 3 billion shares outstanding as opposed to 1.5 billion, we were trading at .015, which we all agreed seemed like a low share price at the time. Especially considering all the positive steps that were taking place, and the new direction of the company. So if we had taken a worst case scenario, which other posters and myself did, was to then divide the current price in half, due to twice as many shares as we thought. That would eventually take us to .0075, which many thought would not happen. It finally did, giving us what should have been a very firm price and bottom. What I do not understand is why we are trading at .006 and see no bottom in sight. Perhaps this is my way of saying I am very anxious, as all the rationalization as why we continue to trade at these levels continuesâŚ
1 MILLION just went through at .006 and 999999 is being offered at .0061 and no word as to whats going on from our appointed CEO on how we are going to attack les.
