Man, if that’s all it takes, I’m going to start saying we hit the floor every day till trips and THEN start buying. I seriously doubt this is being manipulated too much since January. I think most of the big sells are people unloading who need money or want out and try their hand elsewhere (recognize that this will take longer than it’s going to be worth it).
I’m not being pessimistic (I don’t think). Just trying to be reasonable and set my expectations in line with how this is actually going to play out.
What we’re asking for is follow up to what we’ve been told. Positive cash flow by end of year 16, increased tonnage in 17, great things at Caren, world renowned geologists visiting property, major mining cos visiting property only to be followed up by nothing.
WTF, this is sounding like BS from before
This was just posted by insidetruth over on ihub take it for what its worth. If this is true this is big news for us. Auryn should go after him for that 25% for screwing all of us.
carin auryn january, 2016, in santiago chile was signed the contract
repertorio No 890-2016 with sciedad contracual minera manatos azules scm
with maurizio augusto cordoba ledesma and philip leslie price whereby price, by virtue of his ownership, is entitled to 25 percent of the net profits of the carin project
signed, sealed and registered in santiago chile and open for public viewing at any time
this property has been owned by jaun jose since 1994, sold to price, and price then sold 75 percent to mantos azules, now owned by auryn
Anyone happen to think that is Les posting on Ihub? Sure sounds like him. And he went after Goodin in a previous post as well. I’m sure Price has an axe to grind with Goodin…among others I bet if someone who has emailed him in the past looks at their correspondence, he probably misspelled Caren as Carin too.
It may be Les who is behind the posts but I’m not so sure. Has Les posted on public message boards in the past and we’re those posts verified? More than a few posters have been accused of “being Les”, I’m guessing this guy is just another random person. Also, why would Lespost this if it was indeed good news for shareholders?
In regards to your comment about the misspelling, Les is a known drinker and as such, probably was hammered when he wrote most of the correspondence.
I don’t know if he’s posted in the past, but he does read the boards.
For argument’s sake, let’s say that what the poster is posting is not a hoax or someone just messing with MDMN. In one post he mentions hiring his Chilean lawyer to pull the contracts and he is hiring a service to translate them. Who else would have the incentive to do that? Additionally, he accuses Goodin of malfeaaance. Who else has a desire for retribution against Goodin?
But your question about why Les would expose his interest in Caren is a valid one because it doesn’t serve him any benefit that I can think of.
But your question about why Les would expose his interest in Caren is a valid one because it doesn’t serve him any benefit that I can think of.
Because anyone who can search contracts registered in Chile would be able to find that out too. In other words, if it is true then MDMN lawyer should know it by now.
It all seems a little odd to me. Somebody doesn’t have their facts straight. As I recall, Maurizio first approached Juan about buying the Caren mine from him quite a few years ago. (The claim that holds the Caren was never under the control of Medinah). Juan refused to sell it to him. Later Mauirzio had a private company approach Juan and offer to buy it. Juan sold it to this private company(Sciedad Contracual Minera Manatos Azules SCM( only to find out later that the private company was controlled by Mauirzio.) I believe this happened long before January, 2016. Later, Medinah got an interest in the mine when they sold the entire Alto claims to Auryn. I have no idea how or why Les would somehow have an interest in the Caren mine. It is quite possible or probable that he has an interest in the Carin/Punge placer properties but don’t know the status of that. He probably does have a 1%ish in Auryn via his previous Nunco ownership. If Auryn gave Les a 25% stake in the Caren then they are stupider than I thought. More likely, if the 25% interest was true, it was Les acting under the authority of Medinah Chile with it not actually going to him personally.
some back and for the with HR and insidetruth I wanted to share here
HR to insidetruth
insidertruth,
What is your take on how the thief Leslie Price for years fleeced Medinah and its shareholders by setting up a shadow company in Vancouver called Medinah Mines Inc in order to issue shares illegally without board approval, falsify signatures, and pocket the money, all while falsely reporting the actual share counts from the TA? Do you think the SEC and FBI will come after him to seek retribution on how he slipped through their prosecution of The Bermuda Shorts sting?
if that 25% share of the Caren vein is legitimately and legally owned by the thief Leslie Price, then that represents a nice asset that Medinah and its shareholders can and should recover either in the courts, arbitration or settlement. Dontcha think?
insidetruth
again check some facts there was an account set up for medinah minerals by the name of mmc mines inc because medinah could not get a bank account in the united staes until 2015 no matter how hard they tried. mmc mines operated for medinah from 2008 until 2017
as to the issue of the stock, all the documents for this are properly in the hands of medinah and we await the promised findings of tupper so we can all know exactly what h appened and where we all now stand.
HR to Minicello
Are you sure you’re not mixing up the property with something else? The Caren property that Auryn acquired via acquisition of Minera Mantos Azules Chile is an underground mine, not a placer. There has been no mention of placers in any of the public documentation that I’ve read.
Auryn has been concentrating on sampling/following the high grade (up to 124 g/t) Merlin veins that comprise the Caren mine complex.
Quote:
With this property so close to Santiago, if it’s any good why hasn’t it already been mined during the past 100 years
This has been answered countless times over the years and I have no interest in rehashing it. More importantly, it’s being mined now.
insidetruth to HR
there are two property groups with similar names one is the carin and the others are the carin placers sometimes spelled caren
the property that is controlled by auryn is the hard rock claims that auryn sent the ore to the mill and we are awaiting the assay results from auryn this is the one price claims 25 royalty and is located in the heart of the alto claims
the carin placers ajoin the hard rock carin and run down the grade into the river where juan jose has worked on and off over the years juan jose sold the carin placers to gary goodin and amnp for a down payment of 100,000$, 10,000$ tax payment and a 6 month work commitment of 500,000$ like everything else goodin did, he did not make a singular payment on the property and eventually the property was lost back to juan jose
you may have read the amnp posting by goodin whereby he said that auryn was working on the property, which, of course, never happened same issue as goodin bying the 20 percent interest in the jota property from mdmn when there was no property to sell because it was lost in a tax sale in 2014 amazing what you can discover when a lawyer in santiago checks all the filings!!!
Excellent views of entrance to Larissa adit. Thanks. Here’s the same but slightly different view of the Caren Mine that shows the difficult terrain that AURYN is extracting the high content gold ore from. Has anyone pondered the color of the tailings downslope on the mountain and what the economic exploitative value of this ore may be? It has been said gold is the “quick cash”, but copper is the big money prize. Potential partners will be most interested in exploitable copper deposits and long mine life. The LDM and PN have been off the radar for quite a while, but not forgotten.
AURYN has already stated it is determining the best strategy for expanding and developing the entire project.
This involves:
-uncovering the full length of the 42m intersection of the main vein and taking 20 samples for a detailed analysis,
-continuing the mapping and evaluation of levels 1 and 2 in an effort to further understand the vein’s behavior and the topography, and
-beginning exploration and analysis on the Fortuna and the Las Dos Marias targets.
-This effort will help us refine our business plan as we consider the development of the entire project, including the possibility of bringing on additional partners for the porphyry targets. ADL Project Update - January 2017 | AURYN Mining Corporation
Several have expressed that AURYN does not have the deep pockets many assumed it had when it started to acquire the ADL. The pace of gold extraction is too slow to fund the entire project and it looks like an IPO may increase the initial funding to pick up the pace of high content gold extraction. There has long been a suggestion that an an open pit may be a preferred method to economically exploit larger parts of the mountain. It is unlikely, IMO, that the IPO alone will fund the CAPEX for a project of this magnitude. AURYN is openly rumored to be shopping for a partner to move the larger projects forward, which are the indicated copper deposits evident.
The two year timeline that has been suggested by the loan terms to Medinah is not only reasonable, but also necessary to get a partner on board and resolve the looming legal entanglements that must be resolved. So far, with the recent cash call, the company has avoided debt in preparation of it’s intended IPO. We are quite certain the ADL has long indicated it has mineral resources sufficient for an expected very long mine life. What are the current/estimated cash costs and all-in costs per oz and lb? This has yet to be determined. The looming question is what is the CAPEX for the first large scale mine and how can it be financed? This is the plan I believe the AURYN team is working on as indicated by it’s most recent notifications. Bringing on consulting geologists Dr. Raymond Jannas and Dr. Sillitoe added to this effort.
There is an advantage to not promoting Medinah’s value at this point in time, IMO. Any of Les’ 1.5 B airshares that have not already been unloaded in the open market are unlikely to find a way to be dumped. 1,500 million shares are an awful lot of shares, not all of which have found a way to be unloaded, IMO.
I’m pretty sure Les has unloaded most or all of the 1.5B sh. That is the main reason why the price has steadily gone down to less than 1/2 a cent. Les started this quite a while ago.
Rod, Right you are … Les has undoubtedly unloaded any shares he holds. It’s the shareholders that he issued them to that may be holding shares in regular brokerage accounts. Just conjecture and back of the envelope visual on my part, but I estimate total volume sold over the past 5 years to only be about 1.5B shares traded. The DTC has nearly 3B shares in somebody’s brokerage accounts. When I first acquired shares more than 10 years ago there were only a few dozen weeks where volume exceeded 5 million shares traded. Those 1.5B shares were sold to various individuals, IMO, and not just shares he issued to and through his investment companies. Forensic analysis of the TA’s record should reveal who ended up with those shares issued by Les’ MCC Mines. Many of them are likely still being held and not being dumped, and if not, very few shareholders are selling at these levels except by necessity or disgust.
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