It was also said in that post originally put up by mdeman:
Is it being communicated that AURYN is making a distinction between test runs and how they are applied to actual field production runs? I would surmise the testing would involve several different methods for determining the optimum and precise method used in the commercial processing. The most important results worthy of an announcement would be the commercial production runs that show a positive cash flow and what to expect in future full production quarters. I think that is the news we are waiting for regarding the processing of ore. The initial 3 truckloads were specifically used to find the most economical method for commercially processing ore. IMO
Isnât it true that Auryn was supposed to complete metallurgical tests before starting with the processing? I think I recall them saying something about complications arising with the metallurgical tests - or at least with some of the veins which did not prove to produce in commercial quantities.
I think it was delays related to paperwork/bureaucracy and other normal problems involving starting up a mine. Another thing that is notorious for delaying things is addressing safety issues but not sure exactly.
Note: For a refreshing change, L2 is currently only showing about $3500 worth of sells under 30 cents a share.
Very weak legal response by Les. Just another sign that these were mere nuisance suits to try to muddy the waters for those that arenât well informed about his criminal actions.
Should know in the next day or so if Auryn has any good pre-Christmas news for us.
In the GXK v. MDMN case, Les is responding that any allegation of fraud against him must be pled in particularity, a requirement of most statesâ laws, and now Iâm guessing Canada. This means MDMN needs to get ready to put every step of any alleged fraud down in writing, which quite frankly they should have done from go. What attorney files a fraud case (or counter-suit/reconventional demand) and does NOT plead it in particularity? Hmmm ⌠Maybe they donât have all the facts yet? I sincerely hope our attorneys know what theyâre doing.
Okanadian vs. Medinah Minerals, Les Price, MMC Mines sound like a case of a missing decimal point. I thought there was something under the law as a test of reasonableness. In other words the Class C preferred If I recall correctly has a Value of $1.00 per share so why in the world would MDMN issue $100 M of preferred for a $100K investment. So why not simply return the $100K plus expenses and interest and take back the shares issued. That to me should simplify the situation .
I might be missing something here but a settlement sure sounds better than wasting time litigating this⌠BTW I would have put up $100K for 100 M shares of preferred as well. . I recall that there were only 100M preferred authorized and about 42-45 M shares actually issued ( about 7 M to Les, about 3 M to others for debt repayment and 35 M to JJ for 49% of MMC), so how in the world could MDMN issue 100M to Okandian without first going back and increasing the authorized count. This really should be settled outside the courts⌠JMO
Iâve been saying so since day one; however, did you read MDMNâs response? Just as weak, if not more so. Hence my concern and questioning of what direction MDMN taking the case.
Exactly the point I have been making and also goes to my saying (as I just did again above), I feel MDMNâs response was very weak and mild mannered. Again, I have to keep questioning the direction MDMN taking with the litigation because they are not providing any updates, just the weak, mild-mannered response.
They are missing a few docs from this case, the have not put in the motion to dismiss and response, which was subsequently denied by the court; and, they have not attached a copy of the signed contract (which is referenced in the complaint). Also, I tried to check the docket today, but it is not letting me search (gives an error); but I believe the defendants were supposed to file a response, which I do not see as well. Without these missing items, it would be difficult to evaluate whether a settlement would be worthwhile.
Overall, it is great MDMN working to fill out the website and provide timely information; and, I appreciate the information provided. Keep it coming! Still a lot more to add.
I was only talking about the new documentâŚie Lesâs response to Medinahâs response. Certainly at the time of Medinahâs response; we know that Medinahâs attorneyâs/auditor hadnât completed their investigation into Lesâs criminal schemes yet so saying little was probably the best course of action allowing them more time to produce specificity.
IMO, I think itâs easy to speculate when we donât know the facts, and a big waste of energy. Kinda like trying to be a back seat driver. Legal opinions from the outside are just speculation.
Same for demanding news or updates when they are not ready.
Sadly, Iâve had almost two decades of false, misleading b.s. and ânext weekâ starters.
I suggest some shareholders give it a rest and see what develops in the real world, not the world of the past.
I do appreciate Kevinâs efforts to keep us informed as to issues in regards to Medinah. Imo he is reporting all he knows for certain. Itâs now Aurynâs turn to provide shareholders a monthly mining update promised at the informational meeting.
Promises are important because they allow shareholders to feel secure. If an entity keeps a promise, they form a bond. If the entity breaks the promise, they break the bond of trust. Which is it Auryn?
One last chance for news from Auryn today before Christmas. Do they have any good news to share? Who knowsâŚ
Most likely scenario is that Auryn will finally start shipping ore shortly after the holidays. Probably wouldnât make much sense to hire a bunch of new workers to start production then to turn around and let them all leave for the holiday shutdown.
The results of metallurgical testing might be interesting too, as we might learn more about the efficiency of mining our specific veins and be able to make better predictions.
Merry Christmas folks. If youâre not a christian please take that as a wish for kindness and good will, not as an effort to convert you or disrespect your views. Cheers!
