For legal purposes it is preferable to have a physical address associated with corporate offices, even better to have office in state of corporation.
It is very easy for government and other entities to attach and tie an individual to a corporation and make that individual responsible for associated costs such as taxes/fees and such. It is always better to keep separation especially when engaging individuals who may want to bring suit of corporation and/or company personnel.
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http://www.pdac.ca/convention/exhibit-presentation-opportunities/trade-show
FYIā¦it appears Auryn doesnāt have a booth this year. Last year, they had representatives there as attendees so it wouldnāt be a surprise that they are there this year as well in the same capacity.
A well timed exciting news release from Auryn to capture some of the excitement of the PDAC attendees would be welcome but hardly expected.
If that opening trade for 58 cents could have just waited, they could have got 59 cents.
Ya canāt teach stupid
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Very good news
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It took four years for Maurizio Cordova, CEO of Auryn Mining, to negotiate the consolidation of ownership of the Altos de Lipangue copper project but it is now showing its potential, the executive says, drawing comparisons with Teckās (TSX: TCK) Andacollo mine in Region IV.
Covering 11,000h 40km NW of Santiago, near the town of Lampa, Cordova says exploring Altos de Lipangue has been something closer to a work of art than a mining process.
Entering a mountain affected a natural rockfall, meaning they were unable to use explosives, was a major challenge for the Auryn team. āWe had to do it manually, installing timber props and then building a ceiling. There are ceilings up to six meters high,ā Cordova told CER.
In five months, the team could only advance 80m. But in the following 20m, Auryn obtained an intercept of 28m @ 11.5g/t Au, 31g/t Ag & 1.62% Cu. āThis vein cut off after 4m and appeared 42m away,ā Cordova explained. The results for the intervening meters have yet to be published but are expected to double the previous ones.
āIn the upper part of the mountain, we have two structures visible and so we should have two veins (ā¦) In the coming days we shall build a crosscut on half the deposit, and we think that, in less than 20m, we find some high grades in the orebody,ā the executive said.
This discovery will allow Auryn to define how to develop the mine. Although the focus has been on exploration, the ore extracted so far has been sent for production. On December 26th last year, the company made its first delivery of 12.4t of ore to state mining development company ENAMI. To date around 100t has been sent for processing.
Still exploring
From north to south, Auryn has identified almost 2km of veins on the property and the company aims to explore all of them. The process could take 18 months but if they discover the high-grade veins they are looking for, then the company will set up a new team to drill an exploration tunnel while the rest of the personnel develop production veins.
āWe have built three shafts and theoretically we have seven levels above and six levels below. We could have 15 work teams and all of them blasting at the same time,ā said Cordova.
With two blasts daily, the mine could advance around 90m a month. This rate of work would significantly increase production costs, but it remains an option āas long as it is for production.ā
At Altos de Lipangue, the company is aiming for significant production volumes but with a careful management of costs. To assess the business model and develop a plan, the company has hired the geologist Raymond Jannas (a director at Revelo Resources) as an advisor. āWe want to develop the veins and generate the cash flow of a small scale mine, almost artisanal but still significant,ā said Cordova.
Interest from majors
The project has already attracted the interest of some major mining companies. Representatives from Freeport-McMoRan (NYSE) were recently on site to assess the Pegaso Nero and Dos Marias targets, where the presence of molibdenite and tourmaline breccias could indicate a porphyry system. The companies have signed a confidentiality agreement.
Going public
Auryn could go public later this year, listing shares in the US as a Foreign Private Issuer. It has already begun procedures to list its shares on OTCQX and OTCQB.
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Just to show you how stupid I can be, Iāll sell you all of my shares for 57 cents, each. 
Of course the 100 share sell was only someoneās attempt to show a low of the day and, I will assume, try to encourage a frustrated shareowner to dump before it goes lower. Iām sure I read this in my latest copy of Psychology Today.
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Should note that the interview for the article was done between February 10th through the 16th so a little dated.
The comment about the explosives is rather interesting. I assume it means now that they are away form the entrance area, they can now blast?
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This was a very nice write-up in the March 2017 edition of the Chile Explore Report publication.
Thanks for posting the facebook link ( also newleaf for posting the text). Can also view the article directly on page 7 here (not posted yet on AURYNās website under āmediaā):
http://cexr.cl/wp-content/uploads/2017/03/CER48_ENG_FIN.pdf
On our new virtual office, it is a much improved situation from a cost and appearance viewpoint from the days we were physically located on an empty lot with a mailbox!
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Some have been here longer and some not as long but this is the first day in my 12 years the ADL is in ārealā production.
Thanks Mauruzio
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I think this is the mine he is referring to ?
http://www.teck.com/operations/chile/operations/carmen-de-andacollo/default
Yes, thatās the mine being referred to. As a reminder, from an earlier post this is what it looks like.[quote=āeasymillion, post:141, topic:1735ā]
A JV for the PN is very desirable because of the size and CAPEX for these types of deposits. For those that may be interested in what the Andocollo mine looks like:
[/quote]
ā¦the Carmen de Andacollo porphyry copper system which is central to the district and represents the root zones of a strato-volcano that was intruded by a high level 98 Ma mineralising stock.
The mine has been operated by CompaƱĆa Minera Teck Carmen de Andacollo since 2007. NI 43-101 compliant ore reserves and mineral resources at the end of 2015 were (Teck website, visited June 2016):
Ore reserves
Mill ore
Proved reserve - 140.4 Mt @ 0.36% Cu, 0.12 g/t Au + Probable reserve - 276.6 Mt @ 0.33% Cu, 0.12 g/t Au;
TOTAL reserve - 417.0 Mt @ 0.34% Cu, 0.12 g/t Au.
Heap leach ore
Proved reserve - 300 Mt @ 0.37% Cu Soluble + Probable reserve - 1000 Mt @ 0.27% Cu Soluble;
TOTAL reserve - 1300 Mt @ 0.29% Cu Soluble.
Mineral resources which are exclusive of reserves
Mill ore
Measured resources - 12.2 Mt @ 0.30% Cu, 0.08 g/t Au + Indicated resource - 153.6 Mt @ 0.28% Cu, 0.09 g/t Au +
Inferred resource - 47.5 Mt @ 0.28% Cu. 0.09 g/t Au;
Heap and dump leach ore
Measured resources - 8.2 Mt @ 0.34% Cu Soluble + Indicated resource - 30.6 Mt @ 0.15% Cu Soluble +
Inferred resource - 40.0 Mt @ 0.37% Cu Soluble.
PorterGeo Database - Ore Deposit Description
FYIā¦confident the Alto shares the same geologic age as the Andacollo but also confident the Alto will end up being much more significant. I studied the Andacollo many years ago. If I recall correctly, it didnāt have the very high grade veins found at the Alto and I donāt really think they found the actual porphyry style mineralization thereā¦rmore of the associated depositsā¦as fluid inclusion studies showed the hot rocks at the surface were rather far removed from where the minerialization was encountered suggesting a porphyry system remains at depth there.(or never formed.) Also the Alto has the advantage that is has high relief so you can go in from the side where the Andacollo is more flat lying terrain.
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I think so to Mike.
Did anyone else happen to receive the Amarant Mining Newsletter, Issue 1, 2017, today? I must have signed up for it in the early days of our apparent partnership. I donāt know much about mining, but from what this newsletter shows I canāt say Iām impressed. On the other hand, I can see why JJ would make the choice to partner with them, (yes Sheldon, this is sarcasm)!
Amarant_Newsletter_Issue_1_2017_.pdf (212.6 KB)
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I did too. Does Medinah still own Amarant shares?
Yeah, I recall they had some kind of technology thatās supposed to maximize recovery of gold from ore during the production process?
I believe we still do, although so far I wouldnāt expect much of a return on them.
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I believe itās shown in the newsletter.
For some reason the rhyme ābirds of a feather flock togetherā sticks in my head
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