In 2 out of the 3 pictures is Richard Sillitoe, Raymond Jannas and CEO Mr. Cordova.
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Great, hoping he will be blown away 
In order to dilute ones interest for failure to meet a cash call, there has to be a definitive value to AMCās share price. It is my opinion that without an independent valuation it is impossible to determine a definitive fair value at this time. Therefore the loan.
Alternatively, if the value is as John suggests, AMC knows that diluting MDMN at this price level would be devastating for MDMN at this early stage of the mining venture. Therefore the loan.
Either way, thank you AMC and Kevin!
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Maybe that is best, you have not grasped the concept that at best Medinah owned about 20% of the ADL and only about 25% of the package that Aurynās holding to date. Of this there were about 1.4 billion legitimate shares issued and approximately 1.6 billion illegitimate shareās stolen from our company that has diluted us with no results.
We now have 27+% interest in the ADL and surrounding properties with a company that is proving up the properties and has graciously given us a chance at redemption. We now have a chance to pull out of the quagmire that our previous consortium (that we all invested in) placed us in, and have a chance at the futureā¦
Please, the delusions of a quick sell or dividends needs to put on hold for the near futureā¦
Itās hard for some to grasp when the company you invested several dollarās or several hundreds of thousands of dollars A) has no money to pay itās bills, B) has no shareās to extend or trade to stay afloat.
We have been given an OPPORTUNITY to complete this investment.
While we all now have hard earned sceptism of where we could end up, as H.R. has repeatedly said, we are in different hands. It may take some time, but with new handās at the wheel I finally have some confidence that has beenā¦ Well letās just say on edge for sometime.
This is where we are, could have/should have been different, but now just happy and grateful for being able to see a futureā¦ Moo, GC.
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Looks like they were checking out the LDM.
Another point to add, Medinah and Auryn had an agreement to cap share issuance at 1.5 billion. Meanwhile Price (and JJ) who were acting as agents for the company entered into transactions and signed the agreement knowing full well that MDMN was already well over that cap. And JJ still negotiated a sale of his and his familyās shares. I would be pretty pissed if I were an owner/investor in Auryn because they were defrauded just as Medinah shareholders were. Auryn couldāve buried Medinah into receivership and the shareholders would be left with nothing. But thankfully, rather than punishing Medinah shareholders (of which they are too), they opted for an improbable deal to salvage, or as GC put it better, give an OPPORTUNITY, to complete this investment and participate in the future of Auryn and the ADL.
Now these words of gratefulness probably donāt ring well to people who still believe that Medinah somehow had the resources and leverage to compel Auryn into a more favorable deal while still trying to straighten out the mess in Chile, straighten out the mess in Nevada and Vancouver, pursue and defend lawsuits against guilty parties, with no money and no shares to issue, and continue as a publicly-traded going concern. But for those reasons and many others, Medinah couldnāt. They were in no position toā¦simple as that. We all got defrauded by Price and he was counting on bankrupting the company in order to get away with his scheme. And he came very close to doing that if not for Auryn, Kevin et al. This is why Iām personally thankful that Auryn took an improbable high road to get a deal done with Medinah rather than stepping on our throats when they easily could have.
So forgive me if I get a bit rankled when shareholders express a false sense of entitlement over what MDMN shareholders deserve based on their years of holding, or dollars invested, or falsehoods that JJ and Price whispered to them about how big deals are closing and how wonderful the property is, or what the property is worth based on limited available geological data and armchair geology via Google searches, or what they think MDMN couldāve or shouldāve done or how Auryn is raking them over the coals.
Donāt take my word for it though, just ask our CEO (from-the-ceo@medinah-minerals.com) how little leverage MDMN had and just what the company was up against and how close we were to extinction thanks to Price and JJ.
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I would like to add to this that, (and I know Iāve posted something like this before but it bears repeating), no matter what anyone here wants to think or how they choose to look at it, to whatever extent we are victims of what has occurred here we also must own some of the blame. Nobody made anyone push the buy button. We did that on our own. Most people in our situation tend to like to think that theyāre innocent victims and not be entirely honest with themselves, but I have taken the time to really look and see how I got myself into this situation, and it is ABUNDANTLY clear to me that for over a decade, during all that time I was accumulating shares, I had my doubts and I saw and felt things that I should have taken as warnings but instead I ignored instead of looking deeper.
There is a common phrase in the world of trading which says that āwhen in doubt do nothing.ā Well for the decade-plus of my investment I read and posted on several message boards and I remember a whole lot of people were posting all kinds of doubts, but they were still buying.
The bottom line is that if youāre invested in MDMN and/or CDCH and youāre unhappy, you did that. I know it wasnāt JJ or Les or Greg that forced me to buy the stock, and I feel pretty confident that they didnāt force anyone else to buy it either. So, yeah, we got duped to some extent, but we chose to buy into it. Iām not happy that I was stupid, but Iām relieved that at least there appears to be something worth owning so that this time I donāt feel like a complete idiot. Just 99% of one.
The reason I feel compelled to post this message is because there are a lot of people I have observed over the years who need to read it, hear it, take it in and really get it because, if they donāt, they are going to repeat the pattern over and over again. Dreams of becoming a millionaire from investing in a pink sheet stock are almost always squashed by the heavy, painful, unsympathetic boot of reality. Iāve been kicked by that boot so many times Iām embarrassed to even think about it, but it has made me a voice of experience. If youāre one of those people who relate to what Iām writing then do yourself a favor and keep the dreaming to night time and donāt make it a part of your investment strategy.
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I believe the cash call is mostly to repay debt and I do not see how that comes in at all in any valuation other than equity is replacing debt, which is usually a good sign. JMO
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Great post Rick and it rings so true to where we are right now!
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āWe want to develop the veins
and generate the cash-flow of
a small-scale mine, almost artisanal
but still significant.ā
Maurizio Cordova,
CEO of Auryn Mining
Just curious to the timing of this since it should really benefit the current situation of needing a cash call!
MDMN had everything to reach that dream, great property but held and runned by bozos and con man.
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Exactly! Cash call has little to do with valuation other than the elimination of debt no longer wanted on the books. Valuation is not based on a company restructuring it self to be a wholly owned independent company rather than a parent corporationās subsidiary, but it is a positive first step in a larger plan. AURYN was a subsidiary, fully backed by the investors of the larger private corporation MASGLAS. AURYN is now a wholly owned, fully independent private corporation of which MDMN holds a 27% equity interest. AURYN intends to show that it is Cash Flow Positive moving forward. No debt or hidden MASGLAS ownership allows for transparency, especially once AURYN becomes a publicly trading company. Pay as you go, with as little debt as possible may be a little slower than full steam ahead with tons of debt, but it is the cautious and correct way to go in mining until we know exactly how to define the deposits being found on the ADL. Frivolous spending, fraudulent share issuances and claim swaps are a thing of a sordid past. This is not the same stinky pinky we bought into. MDMN is not the same old company it was. Welcome to the New MDMN! AURYN and Maurizio are definitely miners playing a cautious long ball game. If things go as planned, and the ADL ends up being the WC deposit as itās long been believed to be, it will have a very bright future. Iām glad that MDMN and itās shareholders, if not exactly on the team, are allowed to watch from the bench and be included. This morning, GCC, HR, and TR expressed the heartfelt views held by many shareholders here beautifully. Thank You, Thank You, Thank You!
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Totally agree. Itās going to take time. I remember in January those of us being conservative in regards to timeline were being laughed at. Itās March and we still havenāt heard about the additional shipments. Which is fine. This will keep moving forward, My timeline remains well over a year before any serious SP increase. If soonerā¦ Great.
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I think everyone here has seen this recent article, but itās a good overview of where we are at. Hereās an excerpt:
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.
http://aurynmining.com/wp-content/uploads/2016/01/Chile-Exp-Rpt-Mar-2017.pdf
No, you were not being laughed at or otherwise ridiculed - in fact, despite the fact that the company told us we were aiming for 5,000 ounces of gold production in 2016 and 25,000 ounces in 2017, those of us who spoke of possible dividends and share buy-backs were the ones roundly criticized. Truth.
Do you really think itās āfineā that we havenāt heard about the additional shipments? I donāt know about you but it seems like Iām reading a lot of posts with a defensive tenor in them - defending Auryn for having the grace to hold our hand and our CEO for not having any leverage in negotiations. Something tells me a huge ābutā is coming our way, and āsoonā.
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Thatās fine with me. I know Kevin has a ton on his plate and as long as progress is being made, I donāt feel entitled to weekly or even monthly updates. If MDMN/Auryn was moving full steam ahead and trucks were leaving daily from the mines, then yeah, Iād want more updates. Right now, nah.
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If you really feel that way, might be a good time to sell and buy after that ābutā event happens.
Iām personally not too worried right now. Just like last week when everyone flipped about the cash call and it turned out to be nothing more than a little bump in the road. Either you trust current management, or you donāt. If you donāt, selling is likely a good option while itās worth something. Cause if this turns south again, weāll go from ādone, done, doneā to Gone gone gone.
As I said, Iām OK with where we stand for the moment. MDMN still has a pulse, and thatās about all I can ask for after what has transpired.
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Are you serious? You were far more defensive about the previous corrupt regime than anyone is being about our current leadership.
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