But Mike, can we hope that Les/Juan will cooperate with our lawyers and return shares to Treasury, to avoid prosecution/jail ? Or is that just wishful thinking/fantasy?
can we get anything good before the end of year hang our hopes on? THIS has been a nightmare and I hope to god I am not that stupid thinkning we will get over all this and make money finally…
I sure hope Kevin is pressing Auryn to release some news this week to see where we are going now that still no ore is being produced. What’s the plan Auryn?
Constant selling at .005 with 2.3 million traded and another 1.3 on the ASK and still no news. Got to love we are at the mercy of Auryn.
We don’t know right now because MDMN has gone silent on the legal front. Even though, IMO, they could provide us with updates on the status of these cases and the direction they would like to take the cases without impacting the chance for success in the cases, it seems the MDMN taking the “old school” thinking of not disclosing any info to anybody. Unfortunately, IMO, it leaves the crooks as the only voice dictating the story to us and the market. With MDMN’s mild mannered response to Les BS lawsuits and MDMN’s failure to pillory Les BS news releases, the market rightfully thinks MDMN doesn’t know what they are doing and MDMN has itself in a bad situation.
IMO this mild mannered response only emboldens Les and JJ to continue their shenanigans. If you were them and you managed to steal millions of dollars from MDMN and MDMN’s only response was to say “Oh, well, gee, we think Les and JJ are bad guys too.” would you stop the continued theft, have a “come to Jesus” moment, admit your past misdeeds and return the shares to the company from which you stole them? Or would you think MDMN didn’t have the ability or desire to actually come after you, therefore tacitly conceding your theft?
IMO, if MDMN had hit Les hard but actively fighting the jurisdiction issues, motion to dismiss, counter-claims, etc., it would make them think twice because Les now would have to actively spend large sums of money from his own pockets to defend himself. Now, MDMN would have some leverage over Les; however, MDMN didn’t. So we are stuck.
IMO a very big difference exists between attorneys and litigators. You could have the smartest attorney in the world, who had every law memorized, who knew the intricacies of securities and corporate law, but if they didn’t know how to get documents into evidence, or conduct a proper cross-examination, or know how the judge’s interpret the rules, they are not a litigator. A litigator goes for the throat. A litigator hammers the other side with every advantage, no matter how small. A litigator takes a losing case and makes it a winner, laws be damned. A litigator knows how important the interaction of personalities between the parties and the court (ie: the public). A litigator may lose a case, but the winning side would be bloodied and hurt, most likely with a Pyrrhic victory. Everyone remembers the phrase “If the glove doesn’t fit you must aquit” right? Name one phrase from the prosecutions case against OJ? OJ’s defense team were litigators.
IMO right now, neither Les, JJ, or any other third party who has profited from MDMN in any illegal or unethical manner has any incentive to cooperate with MDMN because MDMN hasn’t shown it values its own rights and it will protect it own rights. Until MDMN decides to punch someone in the mouth to protect itself, it will remain the weak kid, getting bullied by those around it.
It sure would be nice to have something substantial or uplifting to discuss. We are all drawing for straws as to what might or might not happen. Something needs to change. We are now 11 weeks past the informational meeting. We need a bone with some meat on it. It sure would be great to get back to a board with some meaningful dialogue. The silence is deafening…
I see no value in release of anything substantial until after the new year. Keep the powder dry. JMHO
Just last week in the “From The CEO” column, Kevin provided a detailed update as to where the company currently stands and what it’s short, mid-term and long-term goals are. The expectations have been set and communicated to everyone there.
Additionally, Auryn provided revised guidance on Nov 15 as to what shareholders should expect from their end up until the end of the year. Reread that along with Kevin’s “From the CEO” and you should know where the company stands, what it’s expectations are and a general timeline to dig out of this massive hole we find ourselves in. Remember that Chileans celebrate the holidays also, reputedly for longer than in North America. So I would not be counting on a ton of progress getting completed the next 2 weeks. If it does, then that will be an unexpected surprise.
In the meantime, shut off your monitors…or at least your MDMN ticker until after the holidays. The damage has been done here, but I get the sense that some shareholders will continue with self inflection despite the communications that have pretty much set the expectations for now.
Please, go enjoy your families, friends and holidays because that is really what is important right now. Medinah will be here when you get back, the share price will still be in the crapper and not much will have changed in those 2 weeks. Complaining on the boards repetitiously will only keep the misery in the forefront of your thoughts and ruin your holidays.
Yeah, but are they going to give us an update???
Auryn update says results from end of November 2016 shipments reported as soon as they’re available.
They also stated they believe to be cash flow positive by end of year,
I don’t know about everyone else but I’m ready to start hearing about it!!
Thank you Dentman you beat me to it.
Specifically, the update states that they “expect [the shipment of 3 truckloads of vein material] to be accomplished by the end of November 2016”. It doesn’t say they will announce that the shipments have occurred. Rather, they specifically state that they “will provide a more detailed update with the results from our shipments once they are available and will inform our shareholders when we achieve consistent production”.
Based on this, we can and should assume that the results of the shipments have not come back yet and/or they haven’t achieved consistent production. In other words, there isn’t anything worthwhile to update shareholders at this point in time.
As far as being cash flow positive by year end, the year hasn’t ended and generally speaking, I am guessing they’d wait for their books to be updated to confirm what their cash flow situation is. That is what a responsible company would do IMO. I’ll let the accountants chime in on how long it takes after year end to determine if a company is cash flow positive or not and perhaps we can use that as a rough guide as far as expecting to be updated on that front.
Jak, are you saying that our forensic lawyers were not the right selection for the job? I thought they were supposed to have the required litigator credentials for this task or why would Auryn select them?
If our current lawyers are not prepared to play hardball with our dishonest past operators, why has Auryn continued their employment?
Sorry for these questions but just getting frustrated with the apparent lack of progress against Les , Juan and the rest of these criminals.
Once a month updates promised but Auyrn at the meeting. We received a November update. I’m expecting them to keep their word with an update by EOY.
Hey Rick. Maybe it’s just my read of your post, but it seems like you may have overlooked the post from the CEO on 12/13/16 where he said that Auryn has not shipped their ore for processing which I took to mean the three truck load samples. I previously posted that this, in all likelyhood, means that their 5,000 ounce target for 2016 is not happening and by extension their cash flow positive expectation is not going to happen as welll. All logical dominos in my mind.
Now, MG did admonish me to wait until the end of the year to wait and see if Auryn updates us as to their 5,000 ounce and cash flow positive goals and I since I have no other options but to wait…wait is what I will do. But, based on my read of the updates Publicly available I don’t have any expectation that either will be met.
Again, we are all still betting on the come with our “investment” in MDMN.
I do agree with you that nothing grand will likely be announced by year end and that it is best to turn off the monitor and not look at the price/trades for awhile and to TRY and enjoy the holiday season given our very disappointing year in MDMN. This goes double for Done Deal…the price/trade action blows…we all get it. There really is no point in selling at these prices and I also don’t see any compelling reason to risk more capital on this investment at this time.
Funnyman, any assessment of our legal team at this point would be pure speculation based on VERY limited data. The professional credentials of our team seem very strong and they are the ones who will get all of the records, disclosure and details of the case which will allow them to determine a strategy to follow.
General knowledge of litigation from our legal brains here is helpful to our understanding of basics, but cannot be applied directly to our case without knowing all the facts.
Thanks Cabezon for your comments. I sincerely hope that our lawyers have developed an aggressive strategy to execute against Les and Juan and others involved. I just want these criminals to be brought to justice and recover the stolen shares. Like everyone else, I do not mind the wait, as long as Auryn or Masglas are truly committed to uncovering every stone to prosecute these crooks. And really, why would they not be ? They also have a lot at stake.
No, I have not made any conclusions one way or the other, but I have to keep questioning.
The ques to which I responded dealt with whether Les and JJ would agree to return shares to MDMN. Unfortunately, IMO, based upon the “radio silence” from MDMN and the mild mannered response to the current legal cases, IMO MDMN has no leverage to force anyone to do anything. IMO, the failure to update MDMN shareholders and the market on the current direction of the litigation has left a gaping hole which Les currently is filling with his BS. By not providing even a cursory overview of the legal status, we do not know whether MDMN actively working to protect its rights. It doesn’t take much, as I have stated before. But right now we have nothing. So no one knows how MDMN will respond. Is it mild mannered, is it litigator? As I stated, the “no comment” approach is very old school in this more modern instant communication age. A quick article RE the topic here: http://www.persuasivelitigator.com/2012/02/dont-say-nothing-the-limitations-of-no-comment-as-a-litigation-crisis-strategy.html I feel MDMN needs to do something more; and, until they do I have to question what actually is occurring.
If you have researched past cases involving the people involved you would see a pattern of lawsuits in which they are involved including throwing frivolous suit’s against anyone they can with/including slander and defamation. With someone of this caliber, sometimes it’s better to show the paper trail than to mince words, saves time and money
Everybody likes to see bad people put in their place, but there is a time and place for everything.
The bottom line is we all are hoping that with every day that passes , the noose is getting tighter around Les’ neck and also that of the others. I would say that a big trap is carefully and quietly being set for all of them. We can only hope. I really want Les and Juan to pay for their crimes. Or just return the diluted /fraudulently issued shares to Auryn/MDMN. And then (*something worse).