That’s right because if they knew everybody would be millionaires.
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I’m pretty sure Baldy knows his own opinion, which is what Albireo asked for…I’m not sure why this is something “nobody knows” because “this would make them millionaires”. Weird…
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You never know with Penny stocks.
There are leaders and there are followers.
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Can either of you follow a conversation or just enjoy throwing out random statements with no contextual basis?
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Hey look, it’s Les Price and JJ in the courtroom.
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Not particularly loving the PPS, but the low volume/selling at bid is definitely welcomed since January.
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An update on production, would be appreciated.
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So you are saying AURYN (MASGLAS) is not going to have an F-1 filing and prospectus as inferred in their February 15 release?
Our intention is to file an F-1 with the U.S. Securities and Exchange Commission and become a fully reporting company. If our registration is accepted, we anticipate an initial public offering of our shares on the OTCQX® or OTCQB® tier of OTC Markets sometime in the fourth quarter of 2017.
It is my understanding this type of registration, if successfully accepted by the SEC, would at a minimum require a letter of introduction from an investment bank, and a detailed prospectus, and very likely the issuance of ADRs. It’s not a very simple procedure, although the initial fee for the application is only $5,000. Your expectations seem to diminish the likelihood that early production levels will ramp up to very substantial levels this year. You also seemed to indicate earlier that a JV would add little to valuation, at least initially, which may be true. Do you really think the IPO is primarily to “clean up the ownership structure” of AURYN? MASGLAS is the majority owner which would be clearly revealed in any prospectus. The “cleanup” of MDMN and CDCH ownership would be viewed as a sell out to many current shareholders, IMO, if handled in the fashion you suggest. MDMN and CDCH are now virtual shells with mounting debt. It will take cash to make them solvent, or unless I misunderstand what you are saying, a complete reorganization with tax consequences that would also take time to resolve with an IPO. An IPO should provide not just liquidity for current MDMN/CDCH shareholders, but it should also provide for a substantial cash infusion for rapid growth of AURYN as a producing mining company. AURYN has very real and exploitable claims. A future JV to handle the porphyry targets would enhance the growth potential of the company as a speculative investment to a much larger investment community provided by the OTCQX, or even OTCQB tier of the OTC. I view the primary goal of a public issuance through an IPO not only for liquidity, but also for forward growth of a company.
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Very well said…
Why would the cleanup of MDMN and CDCH be considered a sellout?
When Auryn goes public, the market will provide a measurable market cap and valuation of both Auryn and MDMN taking the guesswork out of how to value MDMN. Medinah’s shares of Auryn could then be dividended out to shareholders based on their ownership percentage…let’s say 1 Auryn share for 10 MDMN shares for example. Now shareholders are direct owners of a new publicly-traded Auryn rather than a “sub-owner” of Auryn through a disconnected and battered non-reporting pink sheet with a reputation and share structure that further suppresses its value in this current configuration.
Shareholders that want to exit early can do so. Shareholders that want to hold longer to see the full potential of ADL can do so as well. There really is no other purpose for MDMN to exist and incur unnecessary costs to shareholders. Of course, this assumes the resolution of current legal matters and any share recovery.
If there is a purpose for MDMN to exist otherwise I’d love to hear it.
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As predicted, our a$$hole group of manipulators pinched it under .006 end of day
This is not based on any fundamentals but rather what a group can do with a PENNY stock
As much as shareholders would like a very speedy resolution to all the legal entanglements and recovery efforts on the legal front, is it realistic to have all legal matters concluded before end of the year? A rush to conclude the lawsuits and recovery efforts may lead to a less than satisfactory settlement. There are far too many unknowns on the “John Does” involved right now that are not publicly known. Do we know the cost of legal fees already incurred? Is MDMN ready to file an updated 15c2-11?
Just dropping the pursuit of recovery prematurely is what I was referring to, Rick. How much will be withheld to take care of legal fees from the proportional distribution of direct shares to shareholders? In typical IPOs, ownership may be held in a special Class B share structure held by the Selling Shareholders (MASGLAS, MDMN & CDCH). This was mentioned in passing from several earlier posts. Each Class B share would generally have super-voting rights. MASGLAS is undoubtedly the majority shareholder and will always control any future distribution of dividends (separate from liquidity).
The thought I had, unless prohibited by security laws, is that Class A shares would be sold into the IPO to generate immediate cash, the percentage of which would be determined as outlined in the prospectus. MDMN could pay legal expenses from this pool of cash. MDMN (or MASGLAS & CDCH) could exchange at a future date of it’s choosing, Class B shares in a “sale” of ownership for cash to a JV partner as drilling methodically defines targets as profitably exploitable. This would allow MDMN to control any excess available cash generated from the sale of Class A shares (either in the IPO sale or a JV buyout of partial ownership) as a dividend at rate different from when AURYN decides to distribute dividends. I see AURYN as a long range planner, but MDMN and CDCH should also think long range of what is better for shareholders. Also, if an IPO is successful, the likely issuance of ADRs will not result in free trading “shares” until all details of the IPO are worked out. Different brokerages have different requirements regarding ADRs. Cash in MDMN’s treasury would avoid any brokerage issues shareholders may encounter. I don’t see AURYN and MDMN perfectly alligned at this point in time. Once all comes out in the public realm, we’ll know where we stand as shareholders, not before.
Now, let’s hear how we’re doing with production coming back from ENAMI and what news we have on the continuation of the Larissa adit and assay results from the 20 samples taken. Any further news or plans to develop the vein on level 2 would also be welcome.
Are you selling today?
Then what’s the issue?
This is what pennies do, should be ready for the ups and downs when investing.
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portfolio pride.
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No I haven’t sold. Are you part of the manipulating group?
Point is this stock is a penny stock and isn’t stuck to fundamentals like some hairless birds think
I very much doubt todays selling was any attempt toward manipulation. It simply looked like someone was attempting to sell one million shares at a limit of 0.0069 and was able to sell only about 700,000 of the million. He then sat on the unsold 306,000 shares hoping someone would swoop in and take them. Didn’t happen, today. Maybe tomorrow, maybe not.
So you see no manipulation when the pps moves from .007 to .0069 on a $25 trade
Then end of day more selling into bid but the ask moves from .007 to .0075 disincenting anyone to buy while the punch the ask down to .0068. All still on low volume