Points well taken. But, if I’m a judge and I’m presented with somebody who is allegedly out there selling shares of a company which were obtained fraudulently and obviously NOT authorized to be sold, I’m putting a stop to that immediately during the pendency of the case - just bring it on for hearing. Think about it - exactly what argument would the defandants’ counsel use to fight AGAINST such an order? My clients want to continue to sell ill-gotten shares of Medinah? Going FORWARD, opposing counsel should have absolutely no objection to entry of such an order. The issue as to if and whether it actually occurred in the PAST and the extent of the defendants’ liability is a different one and would have to be litigated. Who knows what comes of this or whether it’s worth it - I’m just happy to see them moving this forward.
In case anyone would like to wish Les a Merry Christmas from Medinah shareholders:
I agree and the injunction needs to happen, but it is MDMN’s burden of proof. A judge will not take something as true just because one party says it happened, and even has prove an event happened. For the purpose of a TRO or an preliminary injunction, MDMN has to prove each defendant illegitimately secured their shares and those illegitimately secured shares were the ones sold for the benefit the of defendant to the detriment of MDMN. The defendants can just stand there and deny everything and not have to produce a single document. Remember, a TRO due to its emergency nature occurs prior to any discovery. The defendants would not have disclosed any docs to MDMN prior to MDMN requesting a TRO and MDMN would not have had enough time to send subpoenas to third parties. MDMN would could only proceed upon the docs it secured in its own investigation. It is not proof to show illegitimately purchased shares and the selling of shares at ridiculously low prices, MDMN has to link the illegitimate sales directly to each defendant and then the defendant sold those illegitimately secured shares. It is MDMN burden of proof, the defendants can do nothing. Because you are dealing with someone else’s assets, you need access to those assets to prove it. MDMN would have to provide some type of documentary record, most likely from the clearinghouse, tracing the shares to an account, then prove the defendant owned the account, then prove that account then subsequently sold shares. Not an easy task when you don’t have access to the accounts. By skipping the TRO MDMN can request the defendants provide docs and send subpoenas to secure documents from third parties. In particular, I would strongly speculate the only info on some of the John Doe’s would be account numbers only. MDMN most likely sending subpoenas to the institutions for records on those account numbers. Now they can link each account to a specific person and specific conduct.
We have to go with what MDMN has provided in this complaint. They have specifically stated they do not have all the info and specifically named multiple John Doe’s. This fact clearly shows MDMN does not have the records necessary to link specific conduct to specific parties RE the illegitimate shares. I feel a TRO at this time, would have much too great a risk.
(*WE should not, but what if someone did ) sign him up for every email mailing list on the planet. LOL!
You have 35262 new messages! LOL!
I would like to thank our CEO, Kevin Tupper, for all his hard work over the last months, I believe everyone appreciates having someone who truly has the interests of the shareholder foremost in his mind and actions.
Thank you, Kevin
Merry Christmas to all.
I’m not a lawyer, but I stayed at a Holiday Inn uhm… 30 years ago…
I think coming at him as a plaintiff is more aggressive and clean than making these claims as a counter suit. That would just muddy the waters with all the “well you owed me money” crappola and seem like a tit for tat defense. It also allows more defendants to be included. JMO.
Auryn’s update out, all permitting and mechanical issues resolved, Shipping to begin December 26, Executive staff on the mountain with crews…
Everyone, Please have a Very Merry Christmas, Enjoy Your Families and please say a prayer for those who stand vigil to make sure we feel safe at this time and all year round… GC Capitol (the other Kevin )
Outstanding news! Very pleased. As expected, a nice turn around in January looks to be in the cards.
Nice touch by management. I’m impressed they can get crew and contractors to work on the 26th. , as these holidays are taken fairly seriously down there. Heck, I’m not sure I could get my crew to work the 26 th
ADL Project Update – December 2016
December 24, 2016 @ 7:41 am
AURYN is pleased to provide the following update regarding its mining operations on the Altos de Lipangue project.
Last month after ENAMI visited our operations and gave us a preliminary approval to begin shipping ore, we announced that we expected to ship three trucks of vein material for test production runs by November 30, 2016. When it came time to ship the ore to ENAMI we were informed of minor permitting issues which prevented us from conducting the test production runs. These issues and several mechanical issues in the ventilation system have slowed progress somewhat during the month of December. Nevertheless, AURYN remains undeterred.
This month we addressed the permitting issues, refiled the permits, and re-conducted the onsite visit with ENAMI. Once again, we received the preliminary approval. With permitting issue now solved, on December 21, 2016, we received the final approval from ENAMI to begin shipping ore. In addition, we have purchased a new ventilator with a greater capacity and are installing a new generator to run it.
The first test production shipments commence on Monday, December 26, 2016!
AURYN management would like to thank the miners who are sacrificing time away for the holiday to stay on the mountain and continue mining and exploration activities. In a show of solidarity, the entire AURYN Executive Team is joining the miners and will spend Christmas Eve on the ADL with them.
From AURYN Mining Chile SpA, we wish you a joyous holiday season and a prosperous New Year.
The information in this notification contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
The Company’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances.
Investing in specific mining companies is filled with company risk and geological risk. If you cannot tolerate these kinds of risks, please consider another investment.
I did and I was surprised to get an immediate response!
What was the response?
Message (and request) to all Mining Play Members and MDMN Shareholders,
The last 24 hours Medinah and Auryn have updated shareholders on where the company stands on the two most significant developments affecting the company’s future - the Les Price litigation and progress on ADL. Less than two weeks ago, CEO Kevin Tupper provided a detailed update of where things stood with the company and (tried to) set shareholder expectations going forward. The primary theme, in his words, “I assure you that things have changed, and ask you to give us a little more time to demonstrate it.”
However, even with that assurance from Kevin, the Mining Play was still littered with shareholders complaining about “Where’s the update?”, “How come MDMN isn’t doing anything to address the Les Price lawsuit?”, “They promised us monthly updates!”, etc. This wasn’t just expressed publicly in the TMP forum. I know Kevin has received many complaints privately, but was unable to answer them. And TMP admins/moderators have received nasty PMs as if it’s our fault there are delays. And I know frustrated shareholders don’t like it when I or others post publicly to please have patience and allow the company to do its thing and that we will be informed when they are ready and able to do so (regardless of what was said in the past).
As you should’ve realized by now, Kevin has been working tirelessly to get all of the documentation together and organized to aid the lawyers in crafting the company’s civil suit. He’s not a paralegal, but in addition to his full time job, it has been a responsibility he’s invariably assumed as the CEO, without compensation to this point. Les’ fraud doesn’t go back just to 2012, though that’s still 4 long years of documentation from dozens of people, and research Kevin had to sift through. The fraud goes back further and as is evident from the filing, there is much more information and discovery that he’ll be analyzing and presenting to the lawyers to help shape and expand the company’s case against Price. Kevin deserves a break and the benefit of doubt from shareholders. I have the utmost confidence in his ability and aptitude, and more importantly, his character and sense of responsibility to tackle this difficult job before him.
Similarly, people had been clamoring for an update from Auryn. Once again, let me remind everyone that Auryn is not a public company and has no requirement, legal or otherwise to keep shareholders informed as to what is going on in Chile. That should be everyone’s lowest common denominator of expectation. However, Maurizio et al do feel a responsibility to keep shareholders informed regardless of the complaints they read about in this forum that they do happen to read on occasion. Although I wasn’t at the SHM, I know that Auryn intended to provide monthly updates and to that extent I understand shareholders’ dismay at the extended silence. However, I personally took the monthly update as a guideline that raised my lowest common denominator of expectations, but at no point did I set my clock by it the way other shareholders apparently did. And as was evident in their update, they had a lot of (minor) issues that interfered with their originally-anticipated deliverables. It happens - particularly in the mining industry. All MDMN shareholders should understand this by now. And if you don’t, Kevin reminded us all of this in his Letter From the CEO on Dec. 13th - “Mining is not an easy business. Equipment breaks down and introduces delays. Geological structures that first appear promising turn out to be uneconomical based on various factors. Government regulations and permitting requirements change. We are subject to all this risk and more through our ownership in AURYN.” I personally don’t expect Auryn to update shareholders on every delay or hiccup along the way, as they are focused on what is happening on the ground, as they should be. I do expect to be updated when Auryn has a development that is noteworthy to shareholders. And it appears that Auryn waited on its update until they could get past the issues they were dealing with and had the clear go-ahead for making ore shipments. While this may not appease the modern North American “I want my information now” mentality, understand that this is most likely the m.o. of Auryn’s business culture. I’m not saying it is a bad thing, it is just their thing. And MDMN shareholders will have to adjust their expectations to Auryn, not the other way around. And knowing Kevin, he will be liaising and navigating the differences between the two cultures that addresses the concerns and realities of both sides of the equation.
This isn’t intended as an “I told you so” type of post so I apologize if my words come across that way in any way. This is more of an opportunity for me to reinforce a couple of pleas based on years of observations and frustrations of my own and expressed to me by others:
Please get the “same old MDMN” mentality out of your heads. This is NOT the “old MDMN” at all and it is an insult to our current BOD and Auryn. Les Price is no longer an unofficial spokesman or agent for the company. He is an adversary. There are no fake developments and lies being distributed through the e-mail chain. We have a CEO who is actively working on our behalf in as open a capacity as possible. And we truly know what we own in our 26.8% share of Auryn…we’re just waiting for their mining expertise to unveil whether it is something worth owning.
Bouts of communication silence occur in all companies for one reason or another - sometimes legal, sometimes logistical and sometimes because there simply isn’t anything noteworthy to report. Silence from either company does not mean the companies are sitting idly on their hands, or that they don’t know what they are doing. Neither Auryn nor MDMN are here to torture shareholders. We’re all in this together to monetize our investments, but know that they have access to information that common shareholders do not.
Please, think before you post, particularly if it is an emotional reaction. Understand that shareholders do not know the whole story, only our very limited perspective. The share price is not indicative of what is actually going on so please try not to be a slave to it unless or until there is something significant going on. Also know that readers generally don’t enjoy reading what amounts to a drumbeat of whining and complaining…and moderators will curtail this when necessary to keep the signal to noise ratio optimum for all readers. Bring something to the forum besides emotional graffiti.
Both the legal and mining developments are going to take a LONG time to work through. There likely will not be an imminent or instant price spike. That was the mindset of the old MDMN. This will be more like turning around a freighter, assuming things turn around in MDMN’s favor. Unfortunately this turnaround is not guaranteed, but we at least have two parties - Kevin and Auryn - that are clearly working tirelessly to execute this turnaround.
Enjoy your holidays and your families and your friends. A year from now the company should be in much better shape than it is today.
I’ll bet that the ADL is one of the few mining companies in the Christian world that will be working on Monday. I’ll guarantee they are the only one with the chief executives standing shoulder to shoulder with the worker bees on that day.
I echo Usual’s post. That you Kevin for all of your hard work and for taking the position of CEO for the benefit of all of us.Nice Christmas Eve message from Auryn. Merry Christmas to all.
Good post HR but although this is the new MDMN, it is still a penny stock which IMO is very undervalued.
Of course that all depends on what Auryn tests and starts to produce as we need some type of value to legitimize
A penny stock can move without logic up or down as even a few shareholders can play with the bid and ask and manipulate the price.
I am very pleased with this goal from Kevin:
Prepare the company for an exit event or for the long-term distribution of dividends should the market not fairly value our stake in AURYN.
Those shareholders should be taking the time they’ve been spending blaming everything they can around them for their angst and frustration and instead apply it to educating themselves on mining and investing, because they obviously don’t have enough education on those subjects yet. I’m sure at this point everyone here knows that I’m one of the, if not THEE, biggest dummy on the boards if we were to judge such based upon amount invested. The reason that I don’t spend my time bitching and blaming everyone everywhere isn’t because I’m a billionaire. I was very irresponsible with the amount I invested here and that is all on me. I even had serious concern about LP after one discussion with him but continued to buy shares.
One thing that I can say is true for 100% of investors is that you are fully responsible for being invested here. If you’re now fearful of losing your money then you were irresponsible when you purchased the shares, just as I was. A major rule of investing is that if you have any doubts you don’t spend a penny until you’ve gotten acceptable answers. I take full responsibility for not doing that, and if you don’t, then you are a fool who is destined to repeat the same mistake again, as I also have done in the past.
Medinah and Cerro are the mistakes I made which I finally chose to get the lesson from. I take full responsibility for whatever comes of these investments because I bought into the hype for years and the only “DD” I did was to listen to what other people told me. Fortunately those people were respectable and honest. Unfortunately, they didn’t know about all the BS that was being done that at least has now come to light and is being worked on. At least I feel some relief that I put all that money into something that does have value.
At this point I believe that those people who want to constantly complain and whine about things should be given timeout’s and after three of them they should be permanently banned from posting. Maybe then they’ll take some time to learn from their actions so as not to repeat them, although probably not.
I’ve been quite pleased by developments over the past couple years now and have been content to sit back and let the show evolve. Looks like things are only getting better. Thanks to Kevin and MDMN for our progress and thanks to the mods here. My best to everyone.
Patience is a virtue. It’s been 13 years now so I am ready for some rewards now. Looks like things are changing.
To me, it’s very telling that management and crew are on the mountian Dec 26 . That tells me they’re just as anxious as us to get the show up and running. Mining plays take time to unfold and I’m thankfully this is no longer Les’s P&D I’ve been a shareholder of Medinah going on 17 years now, strictly because I believed in the property. Boy have I made mistakes here, but I’ve also learned some important lessons too! For the sake of my mental wellbeing I don’t dwell on them or Medinah. Medinah is going to take time to turn around, so I chose too not think about it much and enjoy life. Best of the season to all long suffer Medinah shareholders and may you get what you so richly deserve Mr. Price