Yes, and there does seem to be a strain of that going around these days.
— madmen (brad)
Yes, but I can’t take credit for that statement. I merely agreed with it!
“From your lips to God’s ears.” May it come true for all shareholders enduring this saga …
After seeing the informational meeting, I can only say that AURYN is a long range planner and is planning ahead for success. When AURYN completes it’s F-1 application later this year I look forward to there being one heluva road show with some eye poppin results for a very successful IPO. I believe DonD is correct in referencing the following article in one of his posts. This is the type of rollout I would anticipate.[quote=“easymillion, post:588, topic:1735”]
(DonD):I’m not saying this is how this might go forward but the following is simply an example of how some others have moved toward an IPO and the partners (as pre-IPO Owners) were not left behind as an empty shell.
Owners Don’t Give Up Control in an Up-C Offering
[/quote]
We’ll learn a great deal more about what the mountain holds once a prospectus for the IPO is put together and the road shows begin.
500 M market cap divided by 3B shares, gives me .166 cents, maybe i should throw my calculator in the garbage.
you need a calculator to do this math?
If Auryn has a $500M valuation and we own 30% of Auryn that would be the equivalent of $150M. With 3B shares outsnting that would be 5 cents. Feel free to throw out your calculator but I have a feeling you will miss it.
4 Likes
The big key is what will Auryn’s market cap be.
No one knows and $500M may be right on but the reason most invested here is because they think it will be much higher.
Didn’t you say we’d be clawing back 1B shares? That would put the calculation back to where we were all anticipating 7.5 cents! 
With an IPO for AURYN I’d double that … easily.
6 Likes
Based on the fact that Auryn is planning to IPO, I believe we will be able to cancel the preferreds but we are living with the 3B. There is NO way to “quarantine” all of the shares that were issued, illegally, by Les once we get shares of Auryn in return for MDMN and CDCH and it doesn’t sound like there is enough time nor money to find all of those shares. As a positive, we should get all of the Auryn shares issued for NUOCO still held by insiders. Kleen where are you?
3 Likes
So, what you are saying is that AURYN shares will be distributed proportionally as a dividend to current MDMN (and CDCH) shareholders once an IPO is completed? I’m sure you do know there are other ways to structure an IPO.
Why would an IPO enhance the value of Auryn? My best guess today, is that Auryn will have a $100Mish market cap when they do decide to go public. That would be very generous based on what we know today but I assume we will know more by the time the IPO occurs.
As I’ve said previously, I believe (currently) MDMN is trading at a fair value (read: there is not disconnect). With additional progress there is clearly room for a lot of upside.
Time will tell.
2 Likes
An IPO is only an initial offering designed for capital to grow the company.
Auryn will not tolerate the black stain of having MDMN and CDCH as their largest shareholders. Existing shareholders of MDMN and CDCH will receive their proportionate amount of shares in Auryn as it goes public. MDMN and CDCH will become shells. There are many ways to structure an IPO but the above scenario would be the most likely. By far. IMO
4 Likes
I would like to know what the status is of mid Jan shipments!
Hey John, I really like the idea if M and C giving us Auryn shares. Do you feel quite certain things will go this way?
4 Likes
We should get some release from Auryn before months end.
That would be my bet. Yes. We know Cerro would like that option and there’s NO need for anyone to run either company so it would be a good all around solution.
9 Likes
So, you are not anticipating any clawback of free-trading shares or any buyback of MDMN shares whatsoever once some kind of monetary recovery is made. I can see from what was asked for in the legal filings that monetary recovery is not really anticipated ($10K ?). Les and cohorts will retain the proceeds of their scheme as current shareholders have likely already bought up the “air shares” that were fraudulently created. You are also assuming all legal entanglements will be wrapped up before the IPO by some kind of “settlement” agreement, and all legal bills will be taken care of from issuing AURYN shares (from MDMN’s treasury)?
You may be right, MDMN and CDCH shareholders will receive their proportionate amount of shares in AURYN as it goes public and that will be the end of it. I could see that and be quite comfortable with it. There are a few here that would like a “little more justice” than that, but I believe your scenario is a very realistic one.
I wonder if the story to our shell will fetch a fair price? It would make for quite a movie!
1 Like
I believe the possibility of getting AURYN shares for Medinah has been thrown around for quite awhile and is highly likely at some point!
On another issue, I also believe it extremely unlikely that Chapin knew anything about Les and his fraudulent activity with phantom shares!
Les has had lots of experience working with fraud in past police work in Canada.
(He knew how to cover his tracks!)
If Chapin knew about what Les was doing, I assure you that he would not have put nearly 3 million of his own money into a scam!
Several people were asked to put money into Medinah over the years to keep it alive in addition to Chapin and I was one of them!
We had nothing to do with any preferred shares like Baldy suggested, but were asked to help pay the bills by buying common shares from the company.
I know that mine came from Greg and was assured they were legitimate shares.
8 Likes
Nice seeing Gold move back over 1250
1 Like
Where/how did I suggest that people who lent money to the company directly and legitimately had anything to do with the preferrreds?? I am suggesting that those who basically “stole” the LDM, both directors and “friends and family” of insiders (Decosta, Kleen, Ian Dow, etc.) who received shares in Auryn through NUOCO should expect to return those shares.
I don’t think Decosta participated in the LDM even though he made a lot of effort to claim we didn’t need a basic fairness opinion and I don’t know who you are (Kleen?) but the participants of the LDM transaction should be embarrassed. The entire transaction was “Les 101”: constantly changing terms, stories, etc. I just can’t believe he was able to pull this off with a group vs. individually.
I wouldn’t be surprised if the supposed “three million $” spent on finding the glory hole was used to buy Les a few extra cartoons of cigarettes. Based on Kevin’s latest commentary it doesn’t even sound like they definitively identified the “glory hole.” Bottom line: Greg gave back his Auryn related shares, Les & JJ will lose them through the legal process, anyone else who participated should expect the same. This is an easy one for Kevin to accomplish before any Auryn IPO. IMO
8 Likes
How can company shares come from a specific person? Your’s came from Greg doesn’t really make sense. I’m not questioning the legitimacy of the shares you earned for directly lending the company money but you may want to find the offering docs just in case. I’m guessing that most of the illegimate shares were issued to MDMN Chile after which point the funds never went to MDMN but one of Les’ companies. Dunno. But I do know that if I had participated in any private placement with MDMN over the past decade I’d check and double check the documentation. (And) if you didn’t receive an offering memorandum, that ain’t good.
7 Likes