The Defense Rests…28 Likes and still counting…Is that a Mining Play record?
Yes GCCapital, I think all the shareholders here deserves to know a little bit more, has anyone noticed since Kevin left, everything went almost silent.
30 days and counting… I only hope for the sake of Auryn they don’t post another picture of the crew holding Panettone boxes without a news release stating what has happened the past year and where we are headed. Tic toc
GC. I feel your pain but the unfortunate reality is that MDMN (and CDCH) are nothing more than “stubs” of a private company. Until said private company goes public, MDMN will be treated as a stub. In other words, there will be no effort nor strategy within the MDMN BOD for PR b/c there is no incentive to get the price higher. Companies typically spend time and money on PR when there is a need to raise money or awareness within the public market. There’s no need for that now and, with Kevin’s departure, we are now facing a void of any “moral” obligation to keep us informed of anything beyond mandatory filings/material events. The sooner investors get comfortable with this new reality, the easier the wait will be.
I’d love to add some shares but based on how little we know on the fundamentals it’s impossible to conclude, with confidence, that Auryn is worth more than $50 million (the equivalent of where MDMN is currently trading). Now that the CDCH price arbitrage is rear view mirror there’s not much to do but wait. IMO.
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EasyMillion, I also find your input valuable. But, when GC Capitol went off on his rant, I found myself sympathetic, and I think the following is what cranked him up:
[quote=“easymillion, post:375, topic:2036”]
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.
[/quote]
I know you didn’t intend to belittle us lowly investors who have only invested our hard-earned money. But, every once in awhile most of us who are not geologists/miners need to be REMINDED of the substantive reasons we came here - and the STATUS of our quest to realize success. We love hearing from the likes of you, Cornhusker, and brecciaboy, but quite frankly we would like to hear more on a regular basis from the guy who’s driving the bus. Since we were promised “transparency”, I can only assume that the reason we have NOT heard is because there is nothing to tell us. I hope I am wrong.
Do please feel free to speculate as to exactly what reasons our venerable leaders could have for NOT advising us of the status of (1) permits, (2) potential mine design,and/or (3) any anticipated change in corporate structure. Are applicants for permits required to keep their mouths shut during the permitting process? When designing a mine, other than for reasons of purchase of nearby properties for the expanding our claims (which we have heard ad nauseum), is there a reason why mouths need to stay shut for that too? If all this has been discussed before, do feel free to repeat it for our benefit.
Sorry, I don’t mean to treat YOU as though you are the one who is responsible for our issues/delays - so I guess I’m blowing a little bit of my steam too.
Have a great day!
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They said they were going to have limited gold production in 2016 and ramped up in 2017. They didn’t.
They said they were going to IPO and have more info coming out 4th quarter 17. They haven’t (yet)
Some huge blocks of shares continue to be sold.
Until they tell us what is going on something stinks.
Sorry but I’ve had some bad experiences with Mdmn
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Just throwing this out there and please this could be a possibility. Could it be that this mountain isn’t really WC but a bust?? Could it also be that Lester and JJ knew it wasn’t so they screwed all of us shareholders. Just throwing it out there.
Now Masglas pulls last weeks transaction and nothing on the Alto.
But hey we got less than a month to see if they do what they said they were going to do.
Tic toc
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No. It couldn’t be.
I don’t see that, DoneDeal, as I happen to remember that brecciaboy once posted that he hired geologists to travel down to Chile (not once, but twice) and take a look at the ADL - and both times they came back with not just one but both THUMBS UP. And, even though I have never met him, I do trust brecciaboy implicitly. Not to mention the work of Sepulveda-Perez, et al, which has previously been published.
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Here is another theory. There are some entities trading back and forth to get the pps down since they may have knowledge this will be a straight conversion to Auryn.
It wouldn’t matter what the Mdmn pps is but rather in their best interest to accumulate as many shares as possible at lowest possible prices.
Probably BS but when you don’t know, you speculate.
Could you or anyone else please explain to me why the price of the PPS does not matter for the conversion? If I have a million shares trading at .005 the value would be $5,000. Once the conversion happens I would hope that my value would be at least that. If the stock is trading at .003 my value would be 3,000. Once again, I would expect that after the conversion I would have at least that. I understand that we own approximately 26.5%. But what will keep Auryn from opening the IPO at a price that will be equal to our PRESENT price? And who is to say that will not profit Masglas/Auryn in some way, shape, or form. I do not know. Any feedback on this would be greatly appreciated…
MDMN owns 26.5% of Auryn. Auryn has 100million shares outstanding, so MDMN owns 26,500,000 shares.
In your example you own 1million shares of MDMN. Your ownership of MDMN is .0003333 ( 1million shares divided by 3billion shares ).
Lets say Auryns IPO keeps the outstanding at 100million shares and all MDMN shareholders are converted into Auryn shares.
You will now own 8,833.33 shares of Auryn ( 26,500,000 shares X .0003333 ).
In your example, your 1million shares of MDMN had a value of $5,000 which reflects a value for Auryn of $56.604million.
If Auryn is valued the same ( $56.604million ) at the IPO, which would be a PPS of .56604 then your Auryn shares would have a value of $5,000. ( 8,833.33 X .56604 ).
The PPS of MDMN was not a factor in converting your shares into Auryn shares.
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Let’s try a simpler answer. No one knows what the value of Auryn is because it hasn’t been set by the market. You can’t set a value on Auryn based on the market cap of MDMN, that’s just backwards. When Auryn becomes publicly traded the market will set a value on Auryn. THEN the true value of MDMN is 26.5% of Auryn. You will be issued shares proportional to your percentage interest in MDMN times MDMN’s percentage interest in Auryn. Or if MDMN remains publicly traded, your shares will be revalued to their true value based on Auryn’s share price. Hopefully that is higher than now.
The value of Auryn in the example is solely for illustrative purposes based on the figures he was using in his question.
Thanks for the feedback. I hope you are right. In my 30 years of investing I have never heard how the price of a stock will not matter when their is a conversion and or an IPO. I am sure everyone here is not happy with the price we are trading at. And I fear we will go lower before the conversion. Anyone else want to take a crack at it?
You are correct, normally the values of companies considering a merger or consolidation would be a consideration. This process took place at the time Auryn issued their shares to MDMN and CDCH for their assets. We were not privy to those negotiations and the details of the transactions have not been shared with us but no doubt, the value of the assets owned were the consideration for how many shares each company received.
In the case of converting private shares to Public shares it is simply a matter of proportionality as Mdeman explained.
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Just thinking out loud. If this is the case, why aren’t we gobbling up shares at these super low prices and increasing our positions or percentages?
Either lack of funds or lack of faith ( Uncertainty )
Is Auryn worth more or less than $50M? The market, through the public stubs of MDMN and CDCH is discounting a value for us. It’s not as inefficient as most would like to believe. Anybody who thinks Auryn is going to be a multi-billion$ WCD would be an idiot for not adding. Then again, anyone claiming to know that we are dealing with a WCD based on how little we know, would also be an idiot.
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By my math, if you use CDCH as a stub, the value of Auryn is only about $47M. But using stubs to calculate the value of Auryn is fairly ridiculous.
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