And for a long time, we go up on news and not down, isn’t that refreshing 
Also refreshing to see no real sellers with any volume on the ask and the buyers lining up with volume and higher bids!
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YES! I like it! Keep it up folks! 
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Thanks much for the continued insight Jak!
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Great News on two fronts. Once again a big Thank You to our CEO.
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I’m actually breathing. For the first time since 2010. Wow…huge kudos to Kevin, and double down on jay’s analysis…the leverage is there now to raise hell with the thieves…fabulous news.
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This is great news and big thanks to Kevin and Gary. I would suspect Gary is putting is some quality time on this as well.
Also, interesting price point:
In addition, the agreement calls for the return of an additional 10,000,000 shares of commons stock once Medinah reaches a share price of $0.025 per share.
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76 tons through ENAMI. Grades are good. Huge new vein being scoped (30m up AND down??). a HUGE mega co sniffing around, who’s gotta love the 1.62% copper grades thus far. And a great start on the share clawback.
VERY GOOD START TO 2017.
Shareholder patience though this year will pay off I’m sure.
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For a little fun:(Let’s ignore actual reserves etc.)
http://www.mining.com/the-worlds-highest-grade-gold-mines/
The 11.5 grams/ton grade puts Auryn’s Caren mine in the Number 10 spot in the World and Number 1 in Chile.
If we go with gold equivalents, Auryn moves up to Number 8.
With most of the last few months spent just getting to the good stuff, the Numbers should start to improve going forward. Anyway you look at it, the gold grade encountered already are very significant and will start to attract some more favorable attention when grades improve further and some decent quantities of ore are actually produced.
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Please post level 2 for those of us with OCD. Thanks.
Thanks, Don!
Some truck loads will have higher grades and some lower, we will have truck loads of over 100 Grams per tone.
For those of us ignorant of such distinctions, what is the implication of the statement
“In addition, the agreement calls for the return of an additional 10,000,000 shares of commons stock once Medinah reaches a share price of $0.025 per share.”
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They might start going better if the words “Freeport-McMoRan” are mentioned in a press release. As it is now, only the release related to clawing back shares is published on the OTC bulletin board. Obviously, MDMN wouldn’t issue a release to the effect that Freeport representatives came to visit our property, but wouldn’t it be nice if certain people in the industry become knowledgeable of this fact? I see no problem with that, as Auryn is actually the one who released that particular news (which is not required to be published on the OTC board).
Nice update via Auryn.
It’s becoming obvious that the Merlin vein complex is rather complicated with significant variation from vein to vein even in near proximity. The highest grades are not necessarily at the lower levels but could be more vein to vein related. And how much variation is there within a particular vein as you move up and down?
This could all make it quite difficult to estimate with accuracy how consistent production will be as they cross the plateau.
At least now you can see the monthly progress in understanding and the progress in the mine plan and execution.
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This could get quite interesting in future shipments:
We have left the vein mostly unexposed so that we can define the boundaries of this section of the vein without having to extract, sort, and stockpile the mineralized sections of ore. Every several meters we have been taking samples and verifying that the vein is still on the west side of the tunnel. Sample results indicate the grades are higher than the test production runs which were sent to ENAMI.
Only up from here, over, are the days that we were always going down, now will be the opposite .
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Thereby, IMO, the importance of flipping some of the low level John & Jane Does to our side. By getting quick access to bank records and the method of the scheme, our attorneys should be able to target subpoenas to get the missing records to fill in the blank and our forensic auditors can follow the trail of money to see who got what.
Many people have a misconception of off-shore accounts and the off-shore account’s ability to hide assets and protect the person from having the assets taken to satisfy a judgement. The off-shore account’s purpose acts to violate the law to prevent taxation and to prevent disclosure to third parties. We have seen in recent years the US Govt’s ability to pierce the safe havens in Europe. When one tries to avoid the law and accountability, it becomes harder and harder to operate. Canada utilizes similar governance of banking transactions and restrictions upon money laundering and terrorist financing. Anyone trying to get funds from an off-shore account into the US or Canada will have a very difficult time. I have dealt with clients and commodity transactions and they have a difficult time getting funds into the US from well-known, top 50 banks of world, let alone a fly-by-night bank in the Caymans.
Then you have the issue failing to comply with court orders once you have been held liable. A prime example of this fact is pitch-man Kevin Trudeau. (A quick overview http://www.colorado.edu/physics/phys3000/phys3000_sp16/handouts/57_KevinTrudeau_Books.pdf) He was found liable by the FCC for violating certain court order and the court entered a monetary, civil judgment against him. The plaintiff’s then went after him with a citation to discovery assets. He continued to hide assets and not fully disclose assets not located within the US. He continued to live an expensive lifestyle. The court then found him in contempt and sentenced him to jail until he fully disclosed all of his assets, even the off-shore assets.
Once a defendant has a monetary judgment against them, the plaintiff has many options to secure the judgment and many ways to force compliance by the defendant. You can do a wage garnishment, non-wage garnishment (ie: bank accounts), and the most effective tool a citation to discover assets. A citation to discover assets requires the defendant to disclose all of their assets whether a plaintiff can attach the assets or not. For example, retirements accounts are generally exempt from seizure, but you still need to disclose it during a citation to discover assets. Also, the defendant will have to disclose historical info regarding his assets as well.
In a hypothetical situation whereby Les Price has hidden say 20 million dollars in an off shore account in the Cayman, he might think the court cannot touch his money in the Caymans and order the Caymans to turn over the money, and he would be right; however, although the court may not have power over the off-shore account, the court has power over Mr. Price. A big distinction. MDMN can request the court to enter an order against Les Price to prevent him from transferring or otherwise removing any funds from account number #123456789 associated with a Bank in Cayman Islands (did you notice how the court order doesn’t affect the Cayman bank but Mr. Price). MDMN would know about this bank as it would have seen the transfers from his US/Canadian/Chilean bank account to account #123456789, and can determine the bank through the wire transfer or routing information. The court would then require Mr. Price to fully disclose all bank statements and account for any transfers into our out of the Cayman bank (did you notice how the court order doesn’t affect the Cayman bank but Mr. Price). Because the court has power over Mr. Price, it can order the disclosure of off-shore asset info, regardless of the off-shore entities refusal to obey any court order, because the court directs its order to Mr. Price, not the Cayman bank.
Now what happens if Mr. Price says piss-off I’m not complying. Again, even though the court has no power over the bank, it does over Mr. Price. MDMN would then bring a petition for indirect civil contempt of court against Mr. Price for failure to comply with the previously entered court orders.
Quick primer on contempt. Two types, criminal and civil. To ways of occurring indirect and direct. So four choices: direct criminal contempt, indirect criminal contempt, direct civil contempt, indirect civil contempt. Criminal contempt goes directly to punishments to person who defies, disrespects or insults the authority or dignity of a court. Those charged with criminal contempt have the usual constitutional safe guards as all criminal proceedings and must be heard by a different judge then the one making the charge of criminal contempt. Civil contempt goes to a court coercing a defendant to comply with a court order through threat of jail and the same judge entering the order hears the contempt proceeding. Criminal constitutional safe guards do not apply, but a defendant can avoid or shorten the jail time through compliance with the court order. Direct means the contemptuous action occurred before the court; indirect means the contemptuous conduct occurred outside the courtroom.
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Direct criminal contempt: Judge “Mr Price, please answer the question.” Mr. Price (screaming) “This court is a kangaroo court, I don’t have to answer anything, and you smell of elderberries.” Mr. Price’s actions happened directly in front of the court to defy, disrespect or insult the authority or dignity of a court.
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Indirect criminal contempt: Judge: “Ms Witness, please answer the question.” Ms. Witness (screaming) “This court is a kangaroo court, Mr. Price is innocent, I don’t have to answer anything, and you smell of elderberries.” Judge “Why did you say that” Ms. Witness “Mr. Price paid me $1,000 to do so” Mr. Price’s action happened outside of the courtroom to defy, disrespect or insult the authority or dignity of a court.
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Direct civil contempt: Judge: “Mr. Price do you understand my order requires you to bring all of your bank statements to this court date.” Mr. Price “Yes” Judge “Mr. Price did you bring all of you bank statements?” Mr. Price “No” Judge “If I give you until this afternoon will you come back with your bank statements?” Mr. Price “No”. Mr. Price’s actions occurred directly in front of the court and he refused to follow a court order, but he did not disrespect the court.
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Indirect civil contempt: Judge “Mr. Price do you understand my court order requires you to turn over your bank statements?” Mr. Price “Yes” Everyone leaves court. Telephone call from MDMN attorney to Mr. Price “Mr. Price when can we expect you to give us the bank statements as the court order.” Mr. Price “Never. I’m not giving you any bank statements.” Mr. Price’s actions occurred outside of the court and he refused to follow a court order, but he did not disrespect the court.
So now with MDMN’s indirect civil contempt proceedings, MDMN can show the money trail and show Mr. Price has transferred assets to a Cayman Bank. And, IMO, if Mr. Price refuses to comply, MDMN then could also ask the court to freeze Mr. Price’s passport. MDMN can argue they have proof of overseas assets, Mr. Price regularly travels out-of-country, Mr. Price has refused to disclose the overseas assets, and Mr. Price should be barred from traveling until he has fully disclosed to prevent him from transferring the assets again. The Court has ordered Mr. Price to turn over bank statements and all transactional info on this Cayman account and Mr. Price refuses. The court court then hold in indirect civil contempt of court. The Court then enters a purge. In this case the purge would be the turn over of the Cayman Bank account records. And, the court does not have any restriction on the length of time it may hold Mr. Price until he complies. The court could hold him indefinitely until he complies, the court is not bound by a one year time frame or any time frame with a civil contempt order. When it comes to indirect civil contempt jail time, appellate courts often quote the phrase “the defendant maintains the keys to his own jail cell” This means the defendant can avoid jail through immediate compliance with the court order.
The above applies equally to any third party involved int he transaction as well. If the third party fails to cooperate with MDMN and MDMN secures a judgment against that third party, the third party can’t hide their assets either. MDMN can go after them the same way.
IMO, we need the info of the method and bank accounts used by Mr. Price and the real crooks now. Not eight to ten months from now through the discovery process in the case. We need it now. Getting low level defendants to flip, even if we don’t get full recovery from them worth the exchange to give MDMN to info to nail the real crooks to the wall. Once MDMN can prove it, they can go forward with injunctions and subsequently secure a judgment against the real crooks. Once they have the judgment, IMO, you can’t hide, even if you try to park your assets overseas. Your assets may be beyond the reach of the court, but you are not.
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Thank you for the tutorial! I believe 9/11 led to a lot of rule changes for banks, which makes it a little more difficult for boneheads to operate.
Which form of contempt includes the firing squad penalty? 