For those who don’t know who Sheldon is…
Yeah, I got the newsletter too.
Maybe we could swap our Amarant shares for their Knelson concentrator 
This looks like a playground.
4 Likes
Best Quote of the month TR! [quote=“TradeRich, post:764, topic:1735”]
What all of the share price discussion I have been seeing here says to me is that nobody knows, and I think that’s really the only honest answer anyone can give.
[/quote]
Just waiting on the next news that comes out - anything else is just speculation.
“It’s tough to make predictions, especially about the future” -Yogi Berra
Hi Mike,
I seem to remember sharing a due diligence project with you on the Churramata open pit within the Andacollo Mine many years ago. A while back, AMC’s P. Geo Sr. Aguilera sent a rock sample from the Pegaso Nero to a Canadian lab with the ability to date rock samples by measuring Re/Os data. It came back that the rock was about 91 million years old and therefore of an “Early Cretaceous” age. We also know that the brecciated material near the Gordon bx is of the same age which suggests a common underlying progenitor pluton. Interestingly, the distance from the northern aspects of the brecciated areas and the southernmost portion of the “moly anomaly” at the Pegaso Nero both hosting this same type of rock is about 6 Km.
In porphyry systems, both magmatic and hydrothermal breccias tend to occur above or slightly lateral to the centrally located porphyry stock. “Breccias” are important because they suggest extremely high levels of explosivity and they often serve as “feeder” structures to allow metal bearing hydrothermal fluids to get closer to surface where they can be found easier and mined in more of an economic fashion.
The significance of this Re/Os dating was that the Chilean Coastal Cordillera, famous for its 91 million year old “Early Cretaceous Porphyry Belt”, now is known to extend further south of Colliguay and Llahuin where it was believed for decades to have terminated. AMC’s ADL mining district now has a “geological street address” in a famous neighborhood. This is important because Mother Nature has a tendency to present itself in a similar fashion within these porphyry “belts” (or “provinces” in the case of IOCG deposits). The other copper porphyries in this “belt” (Andacollo, Llahuin, etc.) can now be carefully studied in order to gain a heads up on how the ADL deposit might be structured and the similarities to the Andacollo deposit especially are very compelling.
Maurizio and his P. Geos and P. Engs have been citing the Andacollo deposit as a good comparable deposit for quite a while. I sort of believed this but I thought he might be guilty of “name dropping” since the Andacollo was one of the big 3 copper producers in Chilean history joining Chuquicamata and Escondida. Now that we learn that Freeport has also been checking out the LDM stratabound deposit, the Andacollo deposit jumps out at you as a legitimate “comp” because it, like the ADL, is truly a “hybrid deposit” involving both a copper porphyry plus a stratabound deposit that the porphyry transitions into. In both locations, the low sulphidation state epithermal gold/copper veins (like the Merlin and Fortuna veins) occur in a location “distal” (at a greater distance from) the porphyry.
The ADL deposit situated at the 33-degree south latitude level of Chile is also located in a “belt” of stratabound copper deposits that extend from 30-degrees south latitude to 34-degrees south latitude. Here the 2 best “comps” are El Soldado to our north and Lo Aguirre next door to us to our south. These are both open pit mines with El Soldado weighing in at about 200 million tonnes of copper and Lo Aguirre (mined out) about one-tenth of that. These are both very high grade copper deposits mainly because they feature a lot of “high octane” copper forms like chalcocite, malachite and bornite. Noteworthy is that these 3 forms of “high octane” copper have already been found at the LDM stratabound copper deposit as revealed by Nuoco’s P. Geo.
Thus the puzzle pieces are starting to fit together nicely on the “mining district” scale. We have to keep in mind that when building a GIS database (collection of geo-data) for a deposit or even when calculating MR/MR the P. Geos look at the triad of: “workings” (like previously drifted adits, pits, etc.), surface trenching results and drill holes. At the ADL, that massive surface trenching project as well as the study of the seemingly endless amount of channel samples from previously drifted adits has provided the lion’s share of the learning opportunities. The drill meterage is a little over 10,000 meters which was concentrated on the brecciated areas north of the Pegaso Nero.
It does seem like the proper time to throw all of the information gathered to date onto a large table with all of the geoscientists from the various interested parties in attendance and hammer out a long term battle plan to be carried out in phases. Maurizio’s going after the low hanging fruit at the Merlin 1 and Fortuna Veins makes sense but it’s time to start moving this overall behemoth of a project down the road. I think this is why a person of Ray Jannas’s stature was retained.
7 Likes
For anyone interested in some simple chart updates on gold, silver and occasionally oil, I’ve been posting them on the “Other Mining Stocks” thread. I’m no longer subscribed to the eSignal charting software anymore so these charts I’m posting now are pretty simple, mostly discussing moving averages and trend lines and maybe some Fibonacci retracements when I see them.
FYI, You can click on the charts to see clearer, closer views.
7 Likes
Looks pretty thin 300k just hit the ask with another 400k going through as well. Nice to see there’s a 1.3 million BID lets see if he takes out the 500000 ask @ .00750
I guess I spoke to soon. Here come the Big ASKS again. Just bizarre how many shares are for sale under .01
Lets get some SP appreciation already!
I’m not saying it would help the share price, but I thought the new wind blowing around here involved keeping us up to date on corporate happenings. My scorecard says they owe us information on the other three truckloads that made trips to Enami. It could not have taken this long. Did they tell us they weren’t gonna be giving this information to us and I missed it?
3 Likes
Agreed! What’s happening?
2 Likes
Actually, I don’t think there is anything significant to report since the results of the 1st truckload came back and were reported:
ENAMI received the shipment of approximately 12.4 tons of ore on December 26, 2016. The ore returned grades of 11.5 gpt of gold, 31 gpt of silver, and 1.62% copper.
Four additional truckloads containing 63.6 tons of ore from the same section of the vein were sent to ENAMI for processing. The last one was sent on January 9th, 2017 closing out that order. We expect the results will be similar to the first shipment.
I consider it important that Medinah has made significant management changes in response to the negative events that have occurred and been revealed most recently due to past mismanagement. I have little doubt that AURYN is working a long range plan to be successful. For MDMN shareholders the more important question is how will Medinah’s equity in AURYN fit into AURYN’s plans and MASGLAS’s 65% ownership of AURYN, especially in regards to the IPO. I know a few of us here like to hear from Rick Rule regarding PMs. I liked this comment made in a recent interview with Whitney George:
Whitney George: Finding Value in Natural Resource Stocks
Rick: Your description of being partners with the management rather than having them be employees resonates well with me. I know in my career investing when the interests were truly aligned, that is, when I was investing at a company where the management team were substantial owners and, thereby, had an incentive to increase the value of the business rather than merely their compensation. I did better for some reason.
It is a good sign that Kevin Tupper has managed to have a voice in keeping Medinah’s interests aligned with AURYN’s success. Kevin is a substantial owner, as are many that post on this forum and have been here greater than 5-10 years. The big unknown in my mind is where will the interests of MASGLAS not align with the interests of Medinah shareholders. The next several years will reveal if Medinah is allowed to share in the long term plans of AURYN and AURYN’s majority owned shareholders (i.e. MASGLAS). The IPO if properly structured would allow Medinah to have cash flow and dividends separate from those dictated by majority owned management.
If you look through the following you will notice it has been a little “windy”.
From http://medinah-minerals.com/
Medinah Minerals Inc. Sells Nuoco Interest to AURYN Mining Chile SpA
February 16, 2017
Medinah Reaches Settlement Agreement with Shareholder
January 30, 2017
Forensic Audit Update – January 2017
January 12, 2017
From the CEO
Chile Trip Report – Feb 2017
February 21, 2017
Medinah’s OTC Markets Quote Status
January 23, 2017
Legal
Medinah Minerals vs. Les Price, Pamela Fitzpatrick, MMC Mines, GXK Ventures, et al.
• 2016-12-23 — Initial Civil Claim by Medinah Minerals against Les Price, Pamela Fitzpatrick, GXK Ventures, MMC Mines, et al.
• 2017-01-23 — Response by Price, GXK, MMC to Medinah Minerals Civil Claim
• 2017-02-16 — Notice of Application to Remove Price Attorney
Les Price vs. Medinah Minerals
• 2016-11-22 — Initial Civil Claim by Les Price against Medinah Minerals
• 2017-01-03 — Response 01 by Medinah Minerals to Les Price
• 2017-02-16 — Notice of Application to Remove Price Attorney
GXK Ventures vs. Medinah Minerals
• 2016-10-18 — Initial Civil Claim by GXK Ventures against Medinah Minerals
• 2016-11-24 — Response 01 by Medinah Minerals to GXK Ventures
• 2016-12-02 — GXK Ventures Reply to Medinah Minerals Response 01
• 2017-02-16 — Notice of Application to Remove GXK Ventures Attorney
Okanadian vs. Medinah Minerals, Les Price, MMC Mines, et al.
• 2016-02-26 — Initial Complaint by Okanadian against Medinah Minerals, Les Price, MMC Mines, et al.
• 2017-01-19 — Medinah and Goodin Motion for Leave to Amend Answers and Add Counter / Cross Claims (granted)
Recent News
AURYN to Access U.S. Capital Markets
February 15, 2017 @ 1:35 pm
ADL Project Update – January 2017
January 30, 2017 @ 9:00 am
AURYN Mining Chile
March 7 at 8:44am ·
From exploration to production
Auryn ships first ore from Altos de Lipangue
Page 7.
http://cexr.cl/wp-content/uploads/2017/03/CER48_ENG_FIN.pdf
" Auryn obtained an intercept of 28m @ 11.5g/t Au, 31g/t Ag & 1.62% Cu. “This vein cut off after 4m and appeared 42m away,” Cordova explained. The results for the intervening meters have yet to be published but are expected to double the previous ones."
10 Likes
I guess this means there won’t be any dividend distributions …
AURYN Shareholder Meeting Announcement
March 9, 2017 @ 7:02 pm
Auyrn Mining Chile SpA recently sent an announcement to its shareholders regarding a shareholder meeting scheduled for March 15, 2017, at 11:30 am (UTC -3). The meeting will be conducted with the assistance of a Public Notary as required by law. The main topic of discussion is a proposal to increase the operating capital through a cash call to current shareholders.
Sorry, but what does this mean for us shareholders?
AURYN Shareholder Meeting Announcement
March 9, 2017 @ 7:02 pm
Auyrn Mining Chile SpA recently sent an announcement to its shareholders regarding a shareholder meeting scheduled for March 15, 2017, at 11:30 am (UTC -3). The meeting will be conducted with the assistance of a Public Notary as required by law. The main topic of discussion is a proposal to increase the operating capital through a cash call to current shareholders. That is all I got no other info. given yet.
A little early for talk of dividends isn’t it…?
3 Likes
Mdmn is a current shareholder
This is the 1st time I’m hearing about this SH meeting
Common shareholders of Medinah would not have been notified. Only corporate Medinah. I can only guess this cash call is meant for Masglas. They are the majority shareholder and the only entity that could possibly contribute.
Perhaps there is a prior agreement in place between Auyrn and Masglas for additional loans that require this step. JAWAG.