Seems like ghosts from the past continue to pop up and haunt shareholders:
Issue 2, 2017 Progress update for Amarant Mining AB (publ) for April 2017
25.75 ounces of Gold – a small step for mining but a big step for Amarant.
(Alluvial mining experts >100,000 oz of gold pa by 2020) Key highlights:
– first production is planned for Q2 2017 and to reach >100,000 oz pa by 2020
– analysis of less than 20% of our concessions suggests they contain several
million oz of recoverable gold
– all up production cost is estimated to be <US$600/oz https://gallery.mailchimp.com/02a732111e1252cdf32df1ffd/files/e8403222-9197-468b-9cb8-3168176d2248/am_pager_eng_2017_k13.pdf
I doubt they have anything close to what they claim. Les and Ulander…2 peas in a pod. I’m surprised Les isn’t their North American Director of Operations.
From what I can gather from the website, Amarant is going through a rebranding exercise. Some of the language they use on their website reads like it came out of JJ or Les’ mouth. I’m not sure what the status of those shares is (that is probably a question for Kevin) but I’d be willing to bet they are worthless and illiquid. However, if they are liquid and we can sell them for some monetary game, I would recommend we do so ASAP and apply the money towards the $2M cash call debt.
We originally did not own shares in Amarant but in Alluvia Mining! MDMN had 90 million non-trading shares of Alluvia Mining, which I believe is still a subsidiary of Amarant unless it has been folded into Amaramt over the years, so I believe Alluvia is still a non trading entity. fwiw.
The trading volume has been ridiculous thin on MDMN lately, especially when you think about the true outstanding share count of close to 3 Billion! So far today a total of 10,000 shares traded or $57.00…
There’s little volume because many brokerages are not allowing purchases but will allow sells.
This was covered some time ago. This amounts to an unofficial “chill” due to the non reporting status of both MDMN and CDCH.
(see posts Jan 23)[quote=“mdeman, post:162, topic:1735, full:true”]
I was wrong. OTC has flagged MDMN as not providing material. information.https://www.otcmarkets.com/stock/MDMN/quote
Fidelity will not allow purchases until that is lifted although sales can be made.
[/quote]
This is the error message Fidelity puts up (which is absurd for an established account with many shares):
Error:(TC9052) Opening transactions for Pink Sheets (without information) are not permitted because of the risks associated with these securities and all Microcap securities.
April 5, 2017
On March 27, 2017, I informed Auryn Mining Chile SpA that I would no longer be able to assist them with their public communications and effectively resigned from my role as Communications Director. Although the position was always a volunteer position and I had no management role, I felt it appropriate to resign in order to remove any appearance of a conflict of interest among the various parties as Auryn pursues a public listing.
Kevin Tupper
President & CEO
Medinah Minerals, Inc.
So Auryn is now on their own for communication. They will update us at their convenience depending on the amount of info available. So- “WE ARE OVERDUE FOR NEWS”, Now no one needs to repeat this for at least a week and such posts will be removed as “clutter”. We know Kevin will issue MDMN news whenever he feels it is appropriate so he doesn’t need the added pressure either. Thanks, the admins
Thanks, but most brokerages still do allow trading such as IB, Etrade, TD Ameritrade, and others. Plus we now have more than twice the share outstanding.
Thanks, original inquiry was if Fidelity was the only brokerage not allowing purchases under the guise of no “opening transactions” - clearly erroneous error message.
The non-reporting status, i.e. OTC “STOP SIGN” still acts as an unofficial “chill” on the stock, IMO.
3 billion OS really discourages buying and selling.
For anyone unfamiliar with this saga, the underlying story at first glance, discourages new “investors” as a company that is “broke” (cash poor), has legal entanglements, debt, and no immediate cash flow.
I still believe that Auryn took advantage of us with the Nuoco deal, but hopefully that was considered when they arrange the $2.0 million loan for the cash call… The explanation that we could not make the cash requirements for Nuoco is totally bogus since in the last financial it clearly states that " All costs for the option Agreement will be the responsibility of Auryn Mining Chile SPA with no costs assigned to Nuoco…
On level 2 I have seen plenty of shares on the bid and ask but very few willing to meet in the middle. I have been buying anything I can get at .052 or below. I believe the Stop sign has very little to do with the trading level, and it has more to do with the lack of information coming from the company. JMO
So with Kevin stepping down as the Communication Officer does that mean we will no longer get bi-monthly (twice per month) updates from the CEO.
It appears that instead of moving forward we are moving backward once again under the cone of silence when it comes to keeping the shareholders informed! JMO
