Maurizio next to Lundin Mining Booth
I tend to agree. Is there any “foreshadowing” contained in the latest Auryn Notification in the way it was concluded? Things may be a little more complicated than a simple “rolling in consolidation” of MDMN and CDCH into AURYN. IMO
All shareholders of AURYN will be treated equally as we move forward with our intention to access the public markets and provide eventual liquidity to all shareholders. Further details will be announced in the coming quarter.
Thank you so much.
AURYN Mining Chile SpA
AURYN Holdings Corporation
American Sierra Gold Corp.
More notably, Maurizio is standing in the Masglas booth.
Should I continue to post polls? On a scale of 1 to 10, 1 being the poll sucks, 10 being you find the polls interesting and anything in between you find the polls meaningless.
The tribe has spoken. Based on the results I will post future limited number of polls. Most likely after we get news from Auryn.
Great! I expect we will have news this next quarter.
In case anyone has forgotten or not read the Chile Explore Report article from March of this year, here is the text:
From Exploration To Production
Auryn ships first ore from Altos de Lipangue
It took four years for Maurizio Cordova, CEO of Auryn Mining, to negotiate the consolidation of ownership of the Altos de Lipangue copper project but it is now showing its potential, the executive says, drawing comparisons with Teck’s (TSX: TCK) Andacollo mine in Region IV.
Covering 11,000h 40km NW of Santiago, near the town of Lampa, Cordova says exploring Altos de Lipangue has been something closer to a work of art than a mining process.
Entering a mountain affected a natural rock-fall, meaning they were unable to use explosives, was a major challenge for the Auryn team. “We had to do it manually, installing timber props and then building a ceiling. There are ceilings up to six meters high,” Cordova told CER.
In five months, the team could only advance 80m. But in the following 20m, Auryn obtained an intercept of 28m @ 11.5g/t Au, 31g/t Ag & 1.62% Cu. “This vein cut off after 4m and appeared 42m away,” Cordova explained. The results for the intervening meters have yet to be published but are expected to double the previous ones.
“In the upper part of the mountain, we have two structures visible and so we should have two veins (…) In the coming days we shall build a crosscut on half the deposit, and we think that, in less than 20m, we find some high grades in the orebody,” the executive said.
This discovery will allow Auryn to define how to develop the mine. Although the focus has been on exploration, the ore extracted so far has been sent for production. On December 26th last year, the company made its rst delivery of 12.4t of ore to state mining development company ENAMI. To date around 100t has been sent for processing.
From north to south, Auryn has identified almost 2km of veins on the property and the company aims to explore all of them. The process could take 18 months but if they discover the high-grade veins they are looking for, then the company will set up a new team to drill an exploration tunnel while the rest of the personnel develop production veins.
“We have built three shafts and theoretically we have seven levels above and six levels below. We could have 15 work teams and all of them blasting at the same me,” said Cordova.
With two blasts daily, the mine could advance around 90m a month. This rate of work would significantly increase production costs, but it remains an option “as long as it is for production.”
At Altos de Lipangue, the company is aiming for significant production volumes but with a careful management of costs. To assess the business model and develop a plan, the company has hired the geologist Raymond Jannas (a director at Revelo Resources) as an advisor. “We want to develop the veins and generate the cash-flow of a small-scale mine, almost artisanal but still significant,” said Cordova.
Interest from majors
The project has already attracted the interest of some major mining companies. Representatives from Freeport-McMoRan (NYSE) were recently on site to assess the Pegaso Nero and Dos Marias targets, where the presence of molibdenite and tourmaline breccias could indicate a porphyry system. The companies have signed a confidentiality agreement.
Auryn could go public later this year, listing shares in the US as a Foreign Private Issuer. It has already begun procedures to list its shares on OTCQX and OTCQB.
Thanks Easy…good reading.
In my MDMN folder I just this morning stumbled upon something I wrote the day after Labor Day in September 2013. I had been a socalled “investor” in MDMN for two years at that point, and I posted this fiction to the mining play site just for fun. Those were giddy times, with all of us “investors” waiting on a rumored big deal that “someone” in the company was consistently telling us was for-sure coming down any day now. While those of us who are still alive and who have somehow managed to hold on to some of our MDMN shares and are yet again waiting for the really big news we know is surely coming, I thought I would post it again. Just for laughs. We can still laugh, right?
Here in its entirety is my old post:
Chilean Gold Mine Spawns Salmon Creek Melee
By Mary MacGill / Omak-Okanogan County Chronicle
Omak, WA – (9/4/13) – Even though no injuries were reported and no arrests were made, Okanogan County Sherriff’s deputies got quite a bit more than they bargained for when they were summoned to a family disturbance four miles up Salmon Creek Road on Monday afternoon.
Deputy Cedric Simmons said, “In my nine and a half years with the OCS I’ve never seen or heard anything even halfway similar to this thing. And in no way, shape, or form have I ever gotten anything remotely like a tip before.”
Simmons pulled several one-hundred bills from the shirt pocket of his uniform, counted them out in front of this reporter and several Salmon Creek residents (there were five bills, each of them a one-hundred), folded them, and tucked them back into his pocket.
“Family disturbances,” Deputy Simmons laughed. “These are always the worst – never a winner, nothing but losers. But this is one call I’m very satisfied over.” His mirror shades failed to hide a wide smile.
The zany story began around 4 p.m. on Monday when, according to Deputy Simmons, “Someone called in to report that a ‘crazy aunt’ had showed up uninvited to a Labor Day barbeque up Salmon Creek and was causing a nuisance.”
Simmons was working alone on Monday and was the first of nine peace officers (and four county cruisers) who would eventually respond to the call, and who would all wind up with generous gratuities of their own. Simmons apparently received the largest tip, but the other deputies reported receiving either $200 or $300 apiece.
“When I arrived,” said Deputy Simmons, “the homeowner told me that the ‘crazy aunt’ was actually his sister, and he had definitely invited her to the party. So she wasn’t trespassing, legally speaking. But he said she had become drunk to the point where she was ‘talking gibberish’ and she had a backpack full of counterfeit money she was trying to get people at the party to take from her. The homeowner said his sister claimed there was $100,000 in her backpack.”
Deputy Simmons asked the homeowner’s sister if she would show him the money. “She laughed,” said Simmons. “She said, ‘Oh, Show me the money!’ And then she opened her backpack and showed it to me. Most of it looked like twenties but I saw tons of fifties and hundreds mixed in, too. I have no reason to believe that there was not $100,000 in there.”
Someone in the crowd suggested that it must be D.B. Cooper’s money. “But,” said Deputy Simmons, “Cooper jumped out of that plane back in what, about 1975, when Reagan was President, and according by their dates I could see that most of these bills were only about three or four years old. The homeowner said it all had to be counterfeit, and he wanted me to arrest his sister or at least evict her from the premises. He said she’d caused enough trouble around here over the years.”
The Salmon Creek Road area is sparsely populated, with most houses occupying plots of five or ten acres. One man, identifying himself as Bud Scheffler, said that all the neighbors up and down Salmon Creek Road had been invited to the party.
“Heck yeah, you can use my name,” said Scheffler, who said he was 52 years old and a land surveyor, and that he owned a house on ten acres adjacent to the house where the party was held. “I’m proud as hell to have been here today. People are going to remember this party for-damn-ever.”
But this was more than just your run-of-the-mill great party. “(The homeowner’s sister) gave me fifteen hundred bucks today,” reported Scheffler. “I’ve been looking to buy a used backhoe and a log splitter and now I’m in pretty good shape for that. I can understand why (the homeowner) doesn’t want his name used, but believe me, he is a super nice guy. He has these parties two or three times a year, mostly on these holidays, and he invites everyone up and down the Creek. We all know (the homeowner’s sister), too – grew up with her. She’s good people, too, but to tell you the truth she’s kind of been a bit of a pain for the last several years. Until today, anyway.”
The homeowner’s sister also did not want her name used, and was reluctant to talk to this reporter, but several neighbors confirmed that after graduating from Omak High School the sister had spent four years in Ecuador with the Peace Corps. After several more years traveling around South America, she wound up running a bar in Santiago, Chile, which she has called home for the past decade or so.
Neighbor Bud Scheffler again: “For the last four or five years she’s been coming home on vacations and telling all of us we just absolutely have to invest in this stock that she’s heard about – this mountain full of gold in Chile. She’d heard about it from a guy who came into her bar. He’d even taken her to see the mine a couple of times. His name was Juan. He was married – they didn’t date or anything, but I guess he just kind of liked her. He flew her up there to the mine in his helicopter once with some other folks. They went down into these tunnels Juan said were dug by Spanish a few hundred years ago. He showed her how there was gold running all through the rocks. (The homeowner’s sister) took some flakes home with her and a couple of little pebbles, and when she showed them to a jeweler he gave her four hundred bucks right there on the spot just like that. So the next time this Juan comes into the bar, she asks if she can go back up there with him sometime, and he says maybe, but I don’t think he ever took her up again. But he told her she should tell everyone coming into her bar to buy his stock.”
When asked if he would reveal the name of the stock, Scheffler replied, “It’s no secret! It’s called Medinah Minerals. Everybody at this party knows it. Half of us used to own it once. MDMN is its ticker. Whenever (the sister) comes home, comes to one of (the homeowner’s) parties, she’s always telling everybody she’s going to be rich someday and we can all be rich too if we just buy enough MDMN. And so a lot of us did. But I don’t think any of us still own it – it was too rough a ride. That son of a bitch went up and down and up and down and up and down and every few months you’d hear some crazy new excuse, some whackjob story about some hit man trying to kill this Juan fellow but ending up in prison instead, or some other guy stealing 100 million shares of the stock and tying things up in the Supreme Court they have down there. And then some other jackass playboy from Poland or somewhere messed things all up for a while, too.”
Scheffler continued: “A lot of us around here dreamed some big damn dreams for a while, but I think every last one of us sold out. I won’t tell you how much I bought, but if I had back all that money I put in, I’d be in the market for a brand new backhoe. When I first started buying that stock, it was selling for just seven or eight cents a share, but it was down to four or five when I sold it all. So, yeah, I lost some good money. But that was a couple of years ago.”
A check of the Medinah Minerals website this morning shows that it has not recently been updated. But an update posted in July reported that several large mining concerns were interesting in purchasing the company. “Apparently,” said Bud Scheffler, “last week this Juan character, after fifteen years, he finally pulled off his deal. Sold his mine to some big outfit down there. Back in July, just a couple months ago, his stock was still selling for three cents a share, but on Friday – and I just ran home to check all of this on the computer – on Friday that sucker was up to four dollars and sixty-two cents! There’s people around here this afternoon just flat kicking themselves. Pissed at themselves. And so when (the homeowner’s sister) comes by today with her backpack full of one hundred thousand dollars cash money, saying she’s sorry it took so long and all, and she’s giving it away to everyone who lost money, well, maybe some of the nephews thought she was teasing them, or else she was some kind of crazy, and so they called the police. You can understand. Whoever heard of anything so nuts like this?”
Back to Deputy Cedric Simmons of the Okanogan County Sherriff’s Department: “First thing I do when I get here, straightaway after I talk to (the homeowner), I talk to (the homeowner’s) sister. She seems like a nice lady. Seems sober. Don’t look drunk, seem drunk, smell drunk. She did have a backpack full of money, and she was giving it away, and while that may be unusual it’s not unconstitutionally illegal. (Sam) Valdez had us all read the Constitution when he won (Okanogan) County Attorney, and I don’t remember seeing anything about giving away money being unconstitutional. Still, I radioed in and checked and they actually had to call Valdez to find out, and Valdez says that if it’s real money she’s giving away it’s not illegal, but there are laws against distributing counterfeit money and even if she’s distributing it for free I should bring her in.”
Deputy Simmons continued: “So I asked (the homeowner’s sister) if I could run my counterfeit pen over some of her money, and she just laughed again. Girl is something. She dug around until she found those five hundreds I showed you in my pocket, and she just gave ‘em to me. ‘These are for you and your family,’ she said. ‘Thanks for driving all the way out here on a holiday.’
“Everyone gathered around to see me run my pen over them, and when I said they were good – oh boy. That’s when everything really kind of went nuts around here. I thought someone had put something in the koolaid and it had maybe just now kicked in or something. I had to radio in for backup. And I can tell you, all these boys showed up in what you might call a hurry.”
The Chronicle has put in a call to the office of the Okanogan County Attorney, regarding the legality of peace officers accepting gratuities. Sam Valdez replied that he is researching the matter more thoroughly and will respond by tomorrow.
When the stock market closed on Tuesday afternoon, Medinah Minerals (MDMN) was selling for $6.97 per share. As we go to press, it has risen to $7.50 in after-hours trading.
And there you have it — madmen
nice piece of fiction
I would laugh, but it hurts!
Mods - technically we are due to stick a fork in Q3 discussion and start anew for Q4.
This statement was made with confidence. A quarter to remember? I think so.
Further details will be announced in the coming quarter.
We hope that the Medinah and Cerro shareholders rest a little easier now that their ownership interest in AURYN is secured and their overhead is reduced. AURYN continues to execute its mining plan. All shareholders of AURYN will be treated equally as we move forward with our intention to access the public markets and provide eventual liquidity to all shareholders. Further details will be announced in the coming quarter.