Mike, since we have no news from Auryn, Can you give me your opinion on what you think is being done in the background, like, did production has restarted and what’s being done for the IPO, are they drilling, etc. ?
Some large entity(ies) continue to sell at these levels while others buy. There aren’t too many with the share counts that have been sold and I’ll include Auryn in the mix.
Are these arranged transfers? Does the seller have inside information?
Wish we knew what was going on.
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Don’t know. Kevin’s little comment, “FYI - things are starting to come together” is probably the only tangible tidbit to go on regarding what Auryn will do/say next.
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I wouldn’t doubt Lester the crook and his sidekicks including JJ are selling shares. 4 weeks counting. Maybe CHG can put a countdown clock up
Why would they sell now unless it’s mandated?
Payoff his debt. Jmo
Lots of folks start to unload end of year to book a tax loss and then buy back in 2018 without a wash sale
Why would you do that when Auryn specifically stated they are looking to enter the US markets sometime in the 4th quarter unless you’re in the know that they won’t?? I guess we’ll find out soon
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4th Quarter is getting very thin. “looking” to enter and “will” enter are two different scenarios. anyway its a valid scenario to counterpoint the Les/JJ unloading theory. Let’s go Auryn!!
Today with the high volume would have been a very good day to pick up a million shares of Medinah for $4,000 dollars (.004) You probably would have been filled with an AON (all or none) order. That’s if you still have the nerve and the cash. What a great time to be coming into this investment for the first time. I think?
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I have the cash but not the nerve. How long has it been since we have heard about progress or lack thereof on the mountain? I’m not investing another penny in this company until they give me a reason. The share structure and significant lawsuits have been settled. They have kept long term shareholders twisting in the wind long enough. They are either mining and producing or they’re not.
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Same here, have some cash but zero nerve. Just some news release as a current shareholder. I could double my position for less than half the cost of my current position value.
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I had the nerve and the cash to do just that, another million shares - a couple of weeks ago.
Though not impressed with the new version of “transparency”, I remain at least partially confident that current management will not screw it up. I do like the business model of “doing it on your own” for as long as possible in order to either (1) develop income for dividends, or (2) maximize value prior to a “liquidation event”, as opposed to selling in the dark for a song - or both.
There are NO MORE EXCUSES - things need to get done, and they need to TELL us about them.
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Well, one reason is some of us old timers either take a minimum distribution every year or we get penalized for not taking it. It sucks to get older ya know.
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Just the way I see it.
Posted more than a year ago, I have made a few insertions (update clarifications) as appropriate to some of the events revealed since originally posted and after all the sh*t hit the fan with Medinah and gummed up the works and timeline for all involved:
Even though MASGLAS has acquired a pipeline of other mining claims/projects very cheaply (and now added Araya Breccia Copper Project and Options for the Los Azules Copper Project), one may want to take into account the expenses involved in maintaining, and eventually developing them into an asset that nets a positive cashflow instead of a cash drain. I also assume “Masglas/Auryn folk are mostly one and the same”(MG), with the distinction of being entirely separate corporate structures, but with circular individual investment ownership. That is, backers of MASGLAS individually own MDMN and AURYN shares and would profit from seeing dividends distributed by AURYN to all its shareholders. Cerro investors would also receive dividends, or in the event of an IPO, a partial interest in the open sale of AURYN shares for cash in an open market “IPO” with several layers of treasury shares, preferred shares, and control shares. Simplicity is not always an advantage to long term success. As mentioned from several years ago, major projects acquired and included on the MASGLAS website are (note, AURYN (ADL) is no longer listed):
http://masglas.com
MASGLAS PROJECTS:
AGUILUCHO
CONDOR
FORTUNA
LLANO
MALI
PLATON
POSEIDON
TESEO
TRISKELION
AURYN has released a great deal of information to date. There is such a volume of information that shareholders have a difficult time digesting it all. I know I do; I appreciate Cornhusker’s frequent attempts to summarize and clarify it.
MDMN - 2016-05-16 Weekly Discussion
Also recall this diagram from some time ago from CHG.
NOTE the proximity of the new adit and the building/camp from 2012 in proximity to Merlin 2 and Merlin 3. Also recall the black dashed line is the approximate boundary of Auryn’s environmental study they announced a year or so ago.
Funny how Auryn just happened to put that building and equipment in just the right spot 3.5 years ago isn’t it? hmmm
It is easy to forget the detail of what Medinah/AURYN released in December of 2015. It is worth noting that the Altos de Lipangue is (the ADL was in 2015 - and is now it’s own corporate entity under AURYN striving for entrance on it’s own merits to the US equity markets) the most advanced project for MASGLAS investors. As we are so often reminded, time is money, and MASGLAS may have limited deep pockets. Included are diagrams of the trenching and summaries of the sample results on Caren Mine, Merlin 1&2, and the Fortuna claim areas. One thing I found particularly interesting was the revelation: “In the mineralized calculations the cut-off grade considered to build is >0.1 g/t Au.” This clearly is a preliminary assessment needed for open pit operations on surface claims:
http://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=18449 (edited - old link did not work)
(see) Shareholder Update - December 28, 2015.pdf
Accelerated permitting applications, initially using gravitational concentrator methods (known to be environmentally friendly), would allow selective smaller scale open pit operations to unfold. Will we see something headed in this direction at the AURYN presentation/SHM? An increased cash flow from that already projected for only the Caren mine would certainly qualify as a pleasant surprise. I would think MASGLAS might not mind:
… and allocation of future profits toward share buybacks and / or shareholder dividends.
We look forward to a long and successful relationship with AURYN and to sharing more details regarding these objectives at our next shareholder meeting.
http://medinah-minerals.com
Circular ownership, with it’s limited transparency, has certain hidden advantages that largely escape many investors. With a nice appreciation of PPS for both AURYN and MDMN, accompanied by a dividend to shareholders both MDMN and MASGLAS, with an undetermined position in MDMN (via AURYN and individual MASGLAS investors), could pay expenses and accelerate monetization of it’s 9 (11-13?) other projects. A share buyback (by MDMN) and dividend distribution, when cash flow and funds allow, would be synergistic in attaining long-term monetization goals expediently while remaining largely under the radar for the investors currently owning MASGLAS/AURYN and MDMN. Cerro investors would also benefit. There is little advantage to immediately role MDMN and CDCH into a new AURYN publicly trading vehicle IMO, especially if future dividends or distributions are a possibility. A mechanism for loan repayment should avoid dilution to current shareholders if possible. Does MASGLAS have eventual plans for a listing once it’s other projects get further advanced in exploration/exploitation? It seems logical to me, but AURYN is presently first in line to become a profitable mining entity on it’s own. Call me optimistic if you will, or even nuts. This investment has pushed many over the line of rationality and sanity. This is largely my best guess, which also, may or may not be correct. I have no urgency to bail on this investment and have diversified into many other more immediately profitable investments.
Although timelines have clearly changed, my longer term expectations of success for all shareholders of MDMN, CDCH, AURYN and MASGLAS have not changed. Using a simple Occam’s razor model when it comes to corporate structure profitability is a fallacy IMO. Time will tell. In a circular model that is drawn out over 2-5 years as spelled out in the loan documents circular ownership among several corporate entities has distinct advantages if one overriding event occurs. To spell it out, if the current Merlin 1 veins at adit levels 3, intermediate level 2 and level 2 become highly profitable not all proceeds need to be reinvested into the ADL. Some profitable outflow, especially if an IPO is constructed to provide immediate cash to get things into high gear production, all 4 corporate entities could increase in their value and pay off outstanding debts. I have no need to take a loss at this time.
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Maybe it is some tax relief selling but Im tired of hearing that year after year. Yea, last Nov/Dec was Les and chronies selling whatever they could and stealing our money.
Problem is this “tax purpose selling” is making accounts shrink in value and no recovery.
For years, we’ve heard of all the things Mdmn was going to do with zero follow thru. I believe intentions are good from Auryn after meeting and speaking to them at informational meeting
Again, Auryn needs to follow through on things they’ve said to get credibility
This silence is ridiculous
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I know shareholders are impatient to see AURYN has successfully navigated all that is needed to announce that it has met all requirements necessary to be listed as a fully reporting company and has had a registration submitted and accepted to have an initial public offering of our AURYN shares on the OTCQB. We will hear when it is completed, or what may be causing a delay if not completed in this quarter. Until that time occurs, I don’t know what shareholders are expecting to hear. Project geologists Luciano Bocanegra, Mario Arancibia and Felipe Astudillo mapped areas, collected samples and assembled an incredible amount of data for several years, all of which was posted on the AURYN website prior to the Les shenanigans being unveiled. The link I provided in my previous post (December 28, 2015) showed an area of interest with multiple areas showing in excess of 10 AU g/t at the surface. We know this is an area that AURYN intends to determine the best method to exploit expeditiously.
I expect these areas would be very suitable for small scale bulk sampling on the Fortuna (and Merlin 3) claims areas using bulk concentration methods (such as the Falcon gravimetric system) that could produce concentrates exceeding AU 30 OZ/t suitable for shipping to ENAMI. This would require expanded exploitation permissions from Chilean authorities. The additional information obtained of what lies below would be quite valuable, IMO. At some point, I would not be surprised to see small scale open pit exploitation with on site processing.
I know I would like to see expanded exploitation permissions have been obtained by AURYN based on the analysis performed by Dr. Jannas and Dr. Sillitoe evaluating all claim areas data and suggesting the best methods for pursuing and extracting the high grade areas already under exploitation on the Merlin 1 vein in adit 3, and expanded upwards through to level 2.
Maurizio stated “progress has been steady as we work through normal issues that must be overcome before we attempt to scale mining operations.” It is known AURYN must obtain the necessary validation from the Chilean mining authorities that the expanded mine is designed according to the laws and regulations pertinent to the permits held or applied for by Auryn. While many shareholders seem to feel the need to have their hands held and find the continuing silence ridiculous, I find it reassuring to know that AURYN is proceeding to carefully follow what is necessary to make a mining operation successful “by the book” and not taking any shortcuts due to the frustrations vocalized by a number of shareholders. I expect there will be whatever news is appropriate before the end of the year as announced last Quarter. The ADL is no small project. We have already witnessed many delays. as well as a great deal of progress being made. We would all like to hear good news welcoming the new year that is approaching.
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.
Thank you so much.
Respectfully,
Maurizio Cordova
MASGLAS Limited
AURYN Mining Chile SpA
AURYN Holdings Corporation
American Sierra Gold Corp.
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I really appreciate all of your mining and property knowledge. Your a great asset when it comes to the properties. That being said, when I (and several others) have more than a little invested, some like me have several hundred thousand invested and when I have that kind of change in the till I do not think it’s hand holding to want a formal announcement of what the hell is going on with my dollars.
We are all very gun shy and with damn good reason. When ever we wanted clarity years ago we were told to just be patient and look what happened.
Why does everything has to come down to the last day, or second. When timelines come and go repeatedly (not that Auryn has), but couldn’t we just get a quick blurb letting us know what’s up or that because of some nature things are running a little behind.
Sorry for my rant, I know you weren’t aiming at me as I have not voiced any concerns, but I cannot blame anyone for wanting a little clarity, as we have all said it’s the silence that’s deafening and as we have been through this before, a little alarming, I don’t give a crap who’s at the helm.
I don’t condone whining, it doesn’t help. But a good old fashioned “hey what the hells going on” never hurt anything…
I don’t want my hand held and I don’t need a walk through the petunias, I just want to know what’s happening with my monies, and I don’t want to have to become the CEO to find out!
Thank you, I’m finished now 
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I would publicly like to apologize to Easy. Not so much for what I posted but for taking away from the gist of his post. It is obvious that Easy puts outstanding time and effort into his posting to give us all in-depth analysis and knowledge. I for one appreciate all he contributes and would not think of insulting him, and as I looked back, I didn’t give him near the kudos he deserves.
Thanks Easy, I always look forward to your post…
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