I would encourage you to take a look at other $200Mish market cap companies and what is required to support the same. I’m not saying it’s not possible for AMC to exceed this number but it will take a lot of time given the stage we’re currently at. IMO
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Understand. Still…there remains an excellent possibility that this is the best undeveloped property in S.America all things considered. The possibility of investor excitement remains. They really could produce some very exciting numbers from the Caren. They really could open up some more adits/additional mines between now and the IPO. They really could do some further drilling/exploring that produces some very exciting results that are consistent with our previous understanding of the World Class nature of the Alto. This all could gives us an excellent valuation at IPO time. (assuming the price of gold/copper stay the same or improve.) Of course, Auryn needs to produce. Some far, they have fallen short of the property’s potential.
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Yup. I don’t mean to discount the “what ifs” I’m just not sure if the geo or business risk is greater at this point. If AMC were to IPO with a $190M valuation (which would be huge) that would equate to 1.75 cents.
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“I’m just not sure if the geo or business risk is greater at this point.”
That’s a very good guestion. Based on Auryns investment in the discovery and Medinah’s numerous lawsuits that could takes years to resolve I lean towards the geo side as the lesser risk. Positive results on the mining side could solve a multitude of problems. If Kevin and his legal team can work some payback magic, all the better.
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It could take “years” but being that there is settlement talks ongoing…“weeks” is more probable especially since it appears that Les is flat broke and soon to be homeless unless he has stashed some loot offshore.
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I can recommend a new home for him.
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Taking a beating right now. What a nightmare …
TDK
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Yea, on a $60 transaction…who buys $60 dollars worth of stock? Funny business, that’s not really so funny.
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Let see, North America coming into spring and summer,
South America going into fall and it’s winter. How you guys doing down there? Anything new to mention to us before you slow it up for winter.
And yes, I know they can keep going through out winter.
We do that in many northern states here.
We just slow it down some. Hopefully you guys will be doing the same.
Kevin thanks for “ALL” the work done for us all.
And you Les ? Well we won’t go there.
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Production should be in full swing by now, and no news about that ?
[quote=“comerciante_de_ouro, post:1287, topic:1735, full:true”]
Production should be in full swing by now, and no news about that ?
[/quote]Circular reasoning. How can there be news about an event we have no idea is actually occurring?
They were supposed to start last year, we are almost in April, glitches should have been resolved by now.
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It is true that a couple of problems to start out including an unconsolidated entry area that could cause avalanches down the side of the mountain if they didn’t go slow plus issues with ventilation since there isn’t a natural air chimney air flow going on yet. However, more importantly, they need to find the high grade/bonanza grade gold vein in the production adit to proceed into meaningful/profitable mining.
There is no “resolved by now”. It will take as long as takes to find a suitable gold vein. If they can’t find a good gold vein/seam etc, they will need to switch to a different plan such as making the level above the production adit the production adit(or cutting up to it from below) since that is where they discovered the good stuff. Currently, that adit is not suitable for production to occur in. The lack of an update yet really tells us nothing about what may or may not be going on. Kevin gave us an update on what Auryn was doing just a few weeks ago. I suggest relax…
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Settlement talks on going with whom and from what source?
There has been settlement talks between Medinah and Les. It is confirmed. (Nevertheless, one should only rely on what is posted on Medinah’s website on legal matters.) Note that settlement talks don’t stop legal proceedings from moving forward. They are a normal part of the legal process.
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What are they going to have, if he has no money ? A big sorry 
.
He has preferred shares, Auryn shares, perhaps Cerro shares, Sierra Gold shares and knowledge where all the loot is stashed assuming he hasn’t blown it all already on gambling.
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And a huge legal bill.
Assuming Les has little-to-no money, the most that Medinah can hope for is to get back whatever shares he still owns. Since there isn’t a way (that I know of) to preclude Les from selling common shares on the open market, I believe Medinah would look to get back all of the preferreds which he is precluded from converting.
As I wrote in a previous post, Medinah shareholders unfortunately might only be able to hope for the FBI and/or SEC to get involved and throw the book at him in order to bring forth some kind of retribution. But the FBI probably has bigger fish to fry, so hopefully they still remember how he skirted the prosecution in the Bermuda Shorts sting.
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This man has stolen an enormous amount of equity and cashed in.
Why the FBI, SEC, FINRA and “American Greed” isn’t already after him is beyond me.
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Yes I too have heard of proposed settlement agreements and that Les is the one trying to settle, I just do not know how interested or open MDMN is to those proposals!
Between Les’ age and his failing health I doubt he is long for this world. I just hope that his estate gets so tied up with this MDMN fraud issue that it all goes to the shareholders and that his family members end up paying for his misdeeds. His legacy!
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