The response was A Merry Xmas and a denial of any wrongdoing!
I need not tell you what I told him to be ashamed of himself for screwing the shareholders, and how he could live with himself after what he had done and then I called him pure evil.
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I think Thurl Ravenscroft said it best!!
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Did anyone else get the Amarant Merry Christmas email? Priceless kick in the nuts.
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YesâŚI got the amarant merry Christmas email also
Thank you Auryn for the update as you promised on a monthly basis. Thank you and the miners for the extra efforts during the holidays. Itâs very much appreciated. Based on the last days of updates Iâm of the opinion we are in good hands. I have now moved this sock drawer investment from my old holely sock drawer to the dress sock drawer. Itâs a start. I look forward to many rewarding years in the future.
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I donât know about others here GC, and no offense intended, but I find that to be way too âPGâ for how Iâm feeling about the guy. Iâm sure I could say it better, but I wonât seeing as this is a family board and itâs Christmas. 
Things do look positive, although I like most, have a long way just to get back to even. Maybe with better news it will shoot up fast back to the 0.10 level but that is over 1900%. But at this point I am not quite ready to put in dress sock draw. It has moved from the stinky sock , dirty laundry pile.
Merry Xmas everyone !!!
TDK
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7.7 magnitude earthquake Chile
The epicenter was 800 miles south of SantiagoâŚTsunami warnings are in effectâŚ
So, the referenced test production run, which will start tomorrow, is the first of the three such runs which we expected to start back in November (and which were delayed by permitting/equipment issues). I wonder what the time expectations will be for evaluating those test runs and then commencing with live production - can any of you GEOs shed any light?
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I understand completely, I could definitely flush my last post and say what was really on my mindâ:smiling_imp:, but I usually leave that to my good friend geoly 
was just trying to keep it light before the holidaysâ:smirk:âŚ
Enjoy Everyone
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First load shipped, thanks for letting us know
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It would be great if les would stop selling
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Mike do you know how long the test production will take before we get results?
Thanks Mike, nice pic! What a wonderful Boxing Day Present!
Hi Mike,
Congratulations on the recent nuptials. Your comment on the importance of this day in Medinahâs and AMCâs history scratches the tip of a very large iceberg in this industry. In order to fully appreciate this accomplishment I think we need to go back to Pierre Lassondeâs paper presented in NYC at one of the recent Jim Grant seminars. This will provide us some context. The link is:
On page 4 we can see that there are pretty much NO NEW DISCOVERIES out there. Page 5 tells us that the average grade being mined is now close to 1 gpt gold. Page 7 reveals to us that the average amount of time it currently takes to go from âdiscoveryâ (for the rare junior able to make one) to day 1 of production is an insane 27 years.
MORE CONTEXT: The majors are producing like crazy but theyâve been unable to replace their ever-dwindling RESERVES. Many juniors remain unfunded and most majors shut down their own exploration efforts due to overspending during the good years. There are next to ZERO new producers for the majors to choose from if they want a producing asset. In this environment, a young producer with a decent-sized stake in a deposit with good grades in a favorable infrastructure is going to get offers to be taken out. PERIOD. Itâs a SUPPLY and DEMAND situation.
Iâve been writing a book on Medinah and the ADL mining district for a while now. In one chapter I listed out what I thought were the 7 most important repercussions of AMC/Medinah finally shipping ore from the Caren Mine/Merlin 1 Vein. Below is a brief snip-it of the 7th most important repercussion which I figured a geo-geek like yourself might appreciate:
- âRUN OF THE MINEâ GRADES AT THE CAREN MINE ARE OF EXTREME IMPORTANCE BECAUSE THERE ARE 5,000 LINEAL METERS OF SIMILAR VEINS (intermediate sulphidation âsheeted veinsâ) RECENTLY DISCOVERED TO HAVE MADE IT TO SURFACE NOT TO MENTION THOSE âBOSSESâ AND âPLUGSâ THAT DIDNâT MAKE IT TO SURFACE
In addition to any positive cash flow from the Caren Mine, these production efforts might provide us a peak at the grades that might be anticipated elsewhere in the mining district or even further ahead (to the south)in these particular adits. The metal-bearing hydrothermal fluids that made it closer to surface all came from underlying enormous calc-alkalic magma chambers within which these fluids were allowed to mix thoroughly.
Note the difference between AMC recently expanding the extent of veins discovered making it to surface from 400 meters to, letâs say, 500 meters versus from 400 meters to the over 5,000 meters they did reveal. As you study the list of individual assets on Schedule A, in addition to any JV entered into at the Pegaso Nero, the one MILESTONE that Iâm looking forward to the most is the release of the average grades being mined and shipped from the Caren Mine/Merlin 1 Vein. Since the SURFACE GRADES have been very consistent along the 1.8 Km north-south strike of the Merlin 1 Vein (about 3 gpt gold converting to 7 to 10 gpt gold where the plateau starts its downward descent to both the north and south) Iâm going to assume that whatever grades they mine at the 150 meter or so depth level at the Caren Mineâs adit 3 of the Merlin 1 Vein will be fairly consistent (no promises as Mother Nature can be fickle) at similar depths across the plateau unless and until proven otherwise. This is based on how epithermal vein systems form. I will grant that you wonât know with 100% certainty until the mining process gets there or drilling is done.
If you think of the 6 main âsheetedâ veins that all (except for the Merlin 3) strike to the NNW as gigantic sheets of plywood we know the most about the Fortuna Centro Vein which is the second one in from the east. Historical production from this vein down to about the 75 meter depth level down dip averaged 64 gpt gold. This Fortuna Cengtro âsheet of plywoodâ is clearly very impressive and we know a lot about it and its areas of âsupergene enrichmentâ.
From the trenching and sampling program,we learned that the surface grades of gold for the whole system averaged a very impressive 2 to 3 gpt gold RIGHT AT SURFACE. The Lassonde article refers to 1 gpt gold at depth and we know from Sillitoeâs 1974 work that the average âvertical depth of emplacementâ for the TOP of porphyry deposits is 1.5 to 4 Km below surface.
AMCâs trenching findings found a lot of gold right AT SURFACE. So the top edges of these 6 âsheets of plywoodâ are very impressive. From the adit sampling of the Merlin 1 Vein, AMC found the âbonanzaâ grades in adits #2 and #3 at about the 110 meter and 150 meter depth levels below the plateau. THE GRADES WERE INCREASING WITH DEPTH IN A FAIRLY LINEAR FASHION. Thus the deeper portions of the Merlin 1 Vein seem to parallel those found at the Fortuna Centro Vein at similar depths. In essence, everywhere anybody has looked at these intermediate sulfidation epithermal vein system theyâve pretty much found good results.
The question becomes, with the data available to date can we statistically infer that similar grades at similar depths might be expected or might they be expected to be higher or lower than those about to be reported for the Caren Mine? First of all, why did the geoscientists find these âbonanzaâ grades at adits #2 and #3 at these depth levels? Itâs because the Merlin 1 Vein exited the mountain here and the outline of the vein could be visually seen from above and below by the original artisanal miners that drifted the adits. Is there a geoscientific reason why the grades at these depth levels below the mid-plateau area which canât be visualized should be higher or lower if the surface grades are so consistent along the full extent of the vein? In a definitive sense, we wonât know until we get there or drill it out but as the mining efforts progress towards the south we should get a better feel for âcontinuityâ. Another way to pose that same question is do we expect the âboiling zoneâ where the higher grade âbonanzaâ gold is typically deposited in these types of deposits somewhat flat across the mountain underneath a flat plateau (relict peneplain).
The fact that there is a lot of âbandingâ in these veins suggests that there were many âphasesâ to the hydrothermal mineralizing events. Each phase results in a light and a dark band within the vein in which the light band is typically made up of quartz and/or chalcedony and the darker bands contain the gold and/or copper. At surface especially towards the eastern plateau, the significant width of the overlying argillic and advanced argillic alteration corridors suggest a tremendous upwards flow of hydrothermal fluids emanating from underlying magma chambers. These fluids are capable of converting the native rock (granodiorite and/or andesite) to wide swaths of alunite and kaolinite clays. As far as the recently completed trenching and sampling program, the lineal dimensions of the veins making it to surface were indeed increased from 400 meters to over 5,000 meters. Whatever the âaverage gradeâ turns out to be within these 5,000 lineal meters of veins we do know that there is âlikelyâ to be a significant amount of tonnage present not even factoring in the veins visible on the CSAMT that didnât make it to surface.
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