HR, I firmly believe Kevin has our best interest at hand and is a stand up guy.
What is frustrating is that Kevin resigned as Auryn PR person due to conflict of interest.
We have heard for years about trucks on the mountain, stockpiling ore, etc.
Now Auryn has told us about production goals and additional shipments with no follow up.
What was the conflict? Where is the open communication?
I can take the low pps as long as things are evolving but since this info silence (again) it’s breeding speculation and paranoia
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Right on Dentman, I find it almost impossible they have nothing to update with all the work being done on the mountain, unless there is a purpose to this silence, I don’t know.
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Hi Dent,
The F-1 filing process for “Foreign Private Issuers” (FPIs) grants a boatload of special treatment policies for these FPIs that qualify as FPIs. One of the main ones is immunity from Sarbanes-Oxley 404 regarding auditor attestations. The regulators want to make sure that applicants really are “Foreign” and not a bunch of Americans trying to access this favorable treatment through a back door.
My hunch is that if the official AMC “Communications Director” is based in Virginia then that might not look too good on an F-1 or 20-F registration statement. Why take the chance? Kevin’s computer and website talents make him a very valuable player for AMC (and Medinah). He doesn’t need the title.
I sense that we’re going to go from famine to feast when all of the information needing to be released in order to get the IPO registration statement “effective” is finally released. It’s not very fun for frustrated shareholders but this “ZIP IT” for a little while longer approach makes a whole lot of sense for a PRIVATE CORPORATION to use when it is perfectly legal to do so. Remember also that AHC and associates is by far and away Medinah’s largest shareholder and they’re probably underwater more than most of the other Medinah shareholders. With their financial incentives aligned so well with ours I think an element of TRUST needs to be shown.
Another issue with Kevin’s role as AMC official “Communication Director” is that as CEO of Medinah his job is to bug AMC to release more information to us hungry shareholders in order to provide some share price support. But if Kevin is even PERCEIVED to be the party in charge of releasing AMC information then you’ve got a mess as far as a COI. In a well run organization even the PERCEPTION of a COI needs to be aggressively addressed.
One way to keep your sanity is to hope that positive information is indeed piling up behind the scenes and that the transition from going from “ZIP IT” communication mode to “yell it from the mountaintops” mode might be enjoyable.
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Doc, you are using several acronyms in your statement, FPI, AMC, AHC, CEO so on and so forth… I see one that COI which I have taken for Conflict Of Interest, but, in looking it up COI seems to stand for COLonoscopy… Which one is it😱
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Really sad the company does not inform the shareholders exactly where we are.
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As Brecciaboy stated we are in “Zip It” mode. Well I want it “yell it from the mountaintops mode”.
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Good luck with that DD. It’s pretty clear what we want has little to do with anything in Auryn’s world…
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I’ve seen it both ways but some corporate attorneys will give management the ZIP IT order after they first even reference a securities offering subject to a registration statement. Others will say the “quiet period” starts when the S-1 (or F-1 in our case) registration statement is first filed even before the SEC rules it to be “effective”. I’m not sure if the F-1 has been officially filed or not. I think the only date we’ve been given is a Q-4 target date for the IPO. The '33 Securities Act is pretty persnickety about IPOs by anybody.
There are a variety of rules that ban what they used to refer to as “gun jumping” in regards to trading before an IPO. Promotional efforts prior to a registration statement becoming effective are about as much of a no-no as you can get as is any buying by insiders/affiliates. I got the impression at the informational meeting in LV that these guys are definitely “by the book” types. Maurizio even asked that any updates we sent out to fellow shareholders that couldn’t make it to the meeting that we attach a copy of the boilerplate 1995 PSLRA Safe Harbor warnings. I sense that the “cone of silence” has been down ever since. I think that Maurizio knows he has a tiger by the tail and he’s not going to leave anything to chance.
I got a recent inquiry about the mining of the Merlin 1 Vein at the Caren Mine. The M-1 Vein is a “low sulphidation state epithermal vein”. Most Chilean veins are of the “high sulphidation” variety. The Lo-S veins are somewhat narrow but can be of very high grade. There are typically 4 vertical zones to these veins featuring different gangue types, ore types and alteration types. Rarely do you find all 4 levels intact due to weathering and erosion. We got lucky and the erosion process stopped short of the vein.
The M-1 Vein is of a subset of Lo-S veins called “Lenticular Veins”. Instead of the hydrothermal fluids filling in a nice linear fault zone leaving a plywood shaped vein with 2 dimensions much larger than the third, the “Lenticular veins” feature dilated “lenses” of mineralization. At the info meeting Maurizio used the common analogy that the pockets of mineralization occurred in dilated areas similar to rosary beads hooked by a thin wire. These “beads” are the “lenses”. The M-1 vein showed us a 28 meter in diameter “lens/bead” that abruptly pinched off and then restarted 4 meters later. This second lens was 42 meters in diameter and estimated by AMC to be about 60 meters in height. Instead of using the analogy of a vein being like a sheet of plywood, in the case of a lenticular vein you might think of it as a sheet of bubble wrap.
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Here’s a link to what used to be a famous paper on epi gold deposits. On the left side of Figure 1 you can see the “model” Lo-S epi veins. You can see the 4 “rosary beads/lenses” pictured.
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The “zip it” thesis is very very weak. How many high profile companies prepping for an IPO take this approach? This is another color me pink, justificitation for a lack of news. Any company looking to go public will go out of their way to release positive, incremental information many months before said public offering. Just a hunch, but I’m guessing AMC is still trying to identify the “vein of interest” and won’t go into details until they have a comprehensive summary to present. There’s a reason why this board has become “inactive.” Those in the know understand that this process will streeeeeettch along several years before anyone cane assign a valuation to AMC shares (formely known as 28% MDMN holder). If anybody reading these boards continiues to have expectations for a quick pop this is NOT the right investment. For those who are willing to exercise patience there’s a real opportunity to realize significant gains. BUT we still need to clear several hurdles. My only advice: check into this board and the company’s website on occasion (once a month). If/When things finally materialize you will be happy with some dollar amount that exceeds your current value.
Adding at .005 cents is a noble effort and very effectivve at cost averaging down to a palatable entry point BUT there’s no reason to throw good money after bad. Excersise some patience and wait for further visibility. One man’s humble opinion.
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Baldy, why can’t you agree to disagree when you decide to respond to a post or two instead of your incessantly derogatory remarks?
More shareholders would appreciate your insights if you could skip the unnecessarily disrespectful expressions on something posted, or someone else’s opinion. IMO
Most long-time shareholders are aware that there are few companies that have put forth the amount of information AURYN has announced over the past 2-3 years. That is why I’m still here. AURYN is playing a long-ball game in a conservative and by-the book approach. They are planning on success. I plan to be aboard when they do succeed. Equally, there are few companies that have had so much potential in their mining claims as MDMN, for so many years, only to have the stock’s value and company’s reputation so thoroughly destroyed by mismanagement and fraud.
I agree with much of your post, it is actually quite positive if one is willing to read between the lines. The most important message all shareholders should take to heart from your post is:
The rest is about the same as I would expect.
Just another man’s humble opinion. 
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Full disclosure:
I edited one word from Baldy’s post and a few from Easy’s.
No reason to start this ball rolling again…
Easy. I really don’t care what parts of my post you like or dislike. It’s up to the reader to decide. However, I’m not sure what was so “obvious” about what I wrote. Just read the posts preceding mine. Speculating that the company is holding back on troves of positive information is simply ridiculous. What may be obvious to you or me is clearly not for others. Thanks for your feedback but, no thanks.
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“Speculating that the company is holding back on troves of positive information is simply ridiculous.”
Are you serious? I do not agree with you that the company has nothing to say anybody that can add 1 + 1 can see that they are holding back info.Some of your posts sometimes makes me wonder…
1.) where are the results of the remaining 3 truck loads that were shipped in late December?
2.)
Ore was extracted from the Larissa Adit until the LC-6 vicinity. At that point the vein disappeared and reappeared approximately 4m later. It’s reappearance visually appeared to indicate an increased level of mineralization.
We have spent the last two weeks advancing the adit toward the southeast keeping the vein on the east side of the adit. We have left the vein mostly unexposed so that we can define the boundaries of this section of the vein without having to extract, sort, and stockpile the mineralized sections of ore. Every several meters we have been taking samples and verifying that the vein is still on the east side of the adit. Sample results indicate the grades are higher than the test production runs which were sent to ENAMI.
3.) At our informational meeting we indicated that we entered a Confidentiality Agreement with Freeport-McMoRan. In the middle of January representatives from Freeport-McMoRan spent several days on the property to begin their evaluation of the project. This involved touring all known targets for the entire project and taking samples. Freeport-McMoRan will evaluate their findings over the coming weeks.
4.)Dr. Jannas will work with other mining engineers, geologists, and consultants during the month of February to help AURYN determine the best strategy for expanding and developing the 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.
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Trust me, the feeling is mutual
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Two days and not a word? Is the board working or has no one posted?
Just quiet…
We’re all waiting Hunter, nothing really to say, until we get some meat.
Big quake just offshore. Any feedback from the mountain?
https://earthquake.usgs.gov/earthquakes/eventpage/us10008kce#executive
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There was minimal damage in Santiago, so I guess the mountain is safe and sound.
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