I agree George!
2 million shares for sale at .0049 anybody want them?
I agree George!
2 million shares for sale at .0049 anybody want them?
not at 49. I’ve got too much currently.
I believe AURYN announced on January 13, 2016 which areas it considers most promising for future exploration and drilling. Early exploration and opening up of the Caren vein was the first priority to begin early exploitation. We’ll likely see more details sometime following the Chile Explore Congress. Recall the following information from the earlier announcement:
Positive Results in the Environmental Survey at Caren-Merlin-Fortuna Area in the Altos de Lipangue Project
…The initiative of the company demonstrates the proven compromise by the company to support the sustained and responsible exploration and exploitation. Therefore, AURYN Mining Chile SpA decided to evaluate the environmental status previous to the next drilling exploration and early production in the Caren-Merlin-Fortuna area located in the Altos de Lipangue Project.
The environmental survey in Caren-Merlin-Fortuna area was executed by the renowned private consultancy IAL Ambiental INERCO based in Santiago, Chile.
Very important data of fauna, flora, archaeology and old mining liability was collected in view to define further exploration and exploitation works in the area, with the concern of minimizing their impact.
The AURYN Mining Chile SpA exploration and exploitation teams will follow special attention in recommendations proposed by the consultant company for the next platforms construction, drilling activities and early production opportunities.
In addition to environmental survey, water samples were collected by the IAL Ambiental INERCO crew, the samples sites were located in three (3) strategical points:
- Small stream in the central sector of the area involved.
- At the entrance of an adit in the old Fortuna de Lampa Mine. The sample was collected specifically in the underground water outflow from the adit.
- Downstream from the project, in a small stream located in the access road of the project.
Also, AURYN will have some of this season’s drill results to report prior to going public, IMO.
Until Auryn is public, I don’t believe we will be seeing much, if anything, in the form of updates aside from what is contained in the quarterly filings. Auryn is private and there is really no reason for Maurizio and Auryn to publicize anything prior to that. That’s not an excuse, it’s just the reality of the situation.
As far as Medinah is concerned, it’s really just a simple holding company of Auryn shares. The lawsuits have been settled and there is really nothing to report on the ADL unless Auryn does so first. Any developments on the inevitable combination of MDMN, CDCH and Auryn will probably have to wait until those events occur. Kevin et al got us through the most difficult obstacles in the company’s history and I’m not sure how much he (or MDMN) really needs to do other than administrative duties of a public company. Everybody is simply waiting for Auryn to do its thing. I’m not sure of the timing of when this will all occur, but I’m still counting/hoping on it being done before 2017 so we can move ahead with the next phase of this investment…but what the heck do I know?
There has been a ton of work going on which I am very excited about and want to obviously hear about the results… But who is there making sure Medinahs best interests are being looked after.
After all that has happened, lot’s, it’s seems, going on, on the mountain. But there seems to be this sudden trust that everything is great because Auryn is now in control.
Is there clarity about where we stand. Who’s in control, and we who have invested hundreds of thousands of dollars would really like to know, where does Medinah really stand…
All good questions. Kevin visited the Santiago headquarters of Auryn and was impressed with their operation. He also visited the mountain and was also very impressed. His Chile Trip report can be viewed here.
Like you, I would like further clarity. Auryn is in complete control of our shares and their family and friends 20% interest in Medinah. All this gives me a bit of confidence and further patience.
We know that Kevin and Maurizio have good relationship and that extends down to the companies. Kevin has previously vouched for Maurizio’s and Auryn’s integrity, well before he became involved as the Communication Director and later President. And he continues to vouch for them.
Additionally, Auryn could’ve buried MDMN a long time ago if they wanted to. Auryn could’ve sued MDMN for breaching the share limit clause which was signed when the OS was already well over 1.5 billion - known only by the criminal Les Price.
Auryn is a large shareholder in MDMN, so the companies’ interests are aligned in that regard.
Auryn also extended a 0% interest loan to MDMN on their $1.6 million cash call. They didn’t have to do that. They could’ve forced MDMN to give back some their Auryn shares to cover the $1.6 million. They could charge MDMN interest on the loan.
So while I understand the need to “trust, but verify”, MDMN shareholders are not really in that kind of position. We kind of have to trust based on Auryn’s actions to date - which have not shown any signs of being adversarial or exploitative. As a minority shareholder in a private company, MDMN is not really in a position to demand anything from Auryn. That’s the reality whether MDMN shareholders like it or not. If Auryn is not willing to release information at this time, there isn’t much Kevin or anyone else in that position can do to persuade them. So we wait.
While I value your opinion, when invested in a company private or not, there has to be a certain amount of clarity.
I am not saying that the operation’s company is not anything but up standing, but we the 27% shareholders do have rights. I don’t care If it’s a private company, it’s still legally bound to give information to those who have invested in the operation. I have been willing to give the reigning board a certain amount of leeway, but am inclined to agree with many, that the amount of work that seems to have been accomplished, needs to be addressed.
And yes, our board of directors do have the right to demand that any company that we have a considerable interest in, comply with that request.
Thank you GC!
Actually, this is not inevitable, but a best case scenario, which from all indications is the strategy AURYN appears to be aiming for. The “Green Light” was turned on for CDCH to receive a new management team with AURYN’s last notification; “AHC and CDCH Reach Agreement.” At the very least we should expect to be hearing this agreement formally announced once CDCH has it’s OTC filings current. We should see the Company officers of CDCH change from Jose Manuel Borquez and George Young to Kevin Tupper, Gary P. Goodin, Raul Solar and Italo Volante on the OTC website. Once that occurs, both MDMN and CDCH will have a common management team together.
Quarterly filings for both companies (MDMN and CDCH) will have to be kept current until after AURYN becomes publicly traded, IMO. It is only speculation on my part, but significant news may come out after the Chile Explore Congress regarding the upcoming drill season and exploration plans. AURYN has already indicated in several announcements how it plans to proceed. It may be unwelcome, but not a surprise, if there is still no JV for proving up the Pegaso Nero before AURYN goes public. AURYN may decide it is more advantageous to do a few more drill holes there to obtain the best terms in any future agreement. Defining the resource is key for the market to pay attention. It is now AURYN doing all the planning, and work. Exploitation of the Merlin Vein (Caren) is the key to self funding much of the next year or two. Look at the 2 year (renewable to 5 years?) loan terms to Medinah (and CDCH). The market will pay attention to scaled up production and defining the target resources. AURYN has shown itself to be a cautious long-term planner with a defined strategy. I anticipate further permitting.
Current shareholders should go back and carefully reread all the “Notifications” since January 2016 (Not aimed at you Rick, as I follow your exemplary posts on iHub refuting certain alleged “facts”. Thanks) Everything AURYN does is very methodical, if not completely transparent. Things moved very quickly to maintain control of the mining assets once the law suits started. The real “turning point” for MDMN (and all shareholders) occurred with the filing of the Okanadian lawsuit, which on it’s surface seemed to be a simple scriveners error, and easily dismissed if that were the case. As time moved forward it became abundantly clear that the lawsuit, as absurd as it appeared, and those that followed were a very calculated move by Les and associates to bring down Medinah Inc. and hide the frauds committed by Les and associates over an extended period of time.
That is the history shareholders lived through and are now recovering from. Much of it has already been “erased”. Much of the risk perpetuated from the fraud on legitimate shareholders has now been mitigated. With all the lawsuits finally and reportedly in the process of being “dismissed with prejudice” we are entering a whole new chapter for MDMN (and CDCH) shareholders that is based on results. We may expect a minimum of information on further OTC filings, except what AURYN decides to disclose first for strategic reasons. I have a bit of confidence and further patience, as well.
Don’t get me wrong, I want the clarity as much as the next shareholder and you’ve made many points I agree with. However, if the directors of a private company are temporarily putting a gag on all information until the company is publicly traded, then there is little-to-nothing any minority shareholder can do. This may be for legal or strategic reasons that shareholders are simply not privy to…or not allowed to be privy to at this time. We both know this happens in public and private corporations all the time.
Also, I’m not sure Medinah can “demand” anything from Auryn, particularly if Auryn has indicated that there probably would be no information coming out of Chile for the time being. When you say “demand”, that typically comes with an “or else” consequence. What is Medinah’s “or else” if Auryn doesn’t comply with Medinah’s demand for more information? The BOD can certainly request disclosure from Auryn, but if Auryn is simply not willing or ready to disclose at this time, then what is MDMN’s next step?..turn adversarial on its benefactor?
That is why I am saying, until Auryn is public and any potential risks that may impede that goal have been mitigated, we wait. I don’t like it, but I’ve accepted it and I’m willing to give them and their legal team the benefit of the doubt even if it isn’t necessarily on my timeline.
When I say “the inevitable combination of MDMN, CDCH and Auryn”, that is definitely IMO. As you rightfully pointed out, the public facts to date indicate that the companies are pointing to this outcome, but that doesn’t make it inevitable.
Even though we live in different times with different people in control it’s very hard for some of our shareholders, which many post on this board, to feel comfortable with the silence. I actually was, until seeing all the work that seems to be being completed on the mountain.
I have to take heart and trust in the fact that Auryn is in communication with Kevin, and Kevin is comfortable with what they are saying and looking out for our best interests, “WHICH I DO”.
Kevin has always had this investment as a top priority, and respect the fact that when we do communicate, he is not short on letting me know what he cannot talk about, he is very honest in that fact. No rumours and I appreciate that.
As far as demands, I would have to let Auryn know that part of the boards responsibility is to keep the shareholders informed. I demand performance from my employee’s and contractors, I do not threaten them or tell them there will be any type of actions taken against them, but they should know that everyone has responsibilities and silence only brings uncomfortable curiosity and uncertainty.
As always I appreciate your input and your responses. You are a pillar
It looks like from CDCH’s Q1 just posted he had (?) about 7% of the CDCH OS (19.3 M).
Wonder what the “equivalent” value as a percentage of AURYN equates to in terms of MDMN shares. Some here would put it around 100 M? Q2 is reportedly “about ready” and will bring us up to date.
Q2 should clear up a few additional things, at least. I wonder if any AURYN shares would be coming Medinah’s way and where we would see that reflected? I’d guess MDMN Q3 when it comes out in a couple of months.
Cerro’s website/server down
Are you implying that they may be making updates to it?
Has anyone been able to confirm the passing away of Les or whether that was a hoax?
Yes, first the website has been down since June 30:[quote=“easymillion, post:616, topic:928”]
Service Temporarily Unavailable
Now it seems the server is gone also.
Webmaster transition appears to be underway.
Out with the old … in with the new!
Looks like Italo Volante, one of Medinah’s BOD is giving a talk at the Chile Explore Congress:
However, it appears that he isn’t representing Medinah there.
The program also mentions what Dr. Raymond Jannas (associated with Auryn) will be talking about …couple new gold discoveries in Chile. Have no idea if he is referring to the Alto or not.
Let’s hope he refers to the Alto, but with the cone of silence from Auryn I doubt it. I would think Auryn would release news on the website before they release at the congress. Jmo