This is basically what Kevin was suggesting should happen last AGM 1 year and 2 mos ago. It just took this long to clear up the legal matters and execute it. It is not a knee jerk recent idea or anything. It has been discussed here many times over the last year.
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Why on earth would there be a trading halt?
A trading halt is NOT needed to enact anything in this case.
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I can’t imagine "the market’ reacting positively to 7 bn shares being issued…they’re going to have to look at that number a few times to make any sense of it.
There is not a reorganization taking place? When does the NOBO list for distribution into CDCH shares take place? Does MDMN just wait to trade down to 0.0001? Is that the plan for share reduction buyback by management or “friends of AURYN”? If so, brilliant! 
I would expect once we all own CDCH shares they do a name change and a r/s. The good news is that I finally believe we can put the past in the past, forget about all the corruption and start with a clean slate.
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Yes R/S to screw the shareholders. At the end medinah shareholders will be left with nothing! what a waste!
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The consensus on the board was the stock price of mdmn “did not matter” concerning the merger. We would get our respective percentage and that would be it. I still fail to see how that will play out. I don’t think my stomach can handle much more of this…
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Here’s the road map.
As the majority owner of Cerro, we look forward to working with current Cerro management. This includes the following:
- Creating a management team and Board of Directors suitable for an exploration company intent on becoming a junior and major mining company.
- Launching a massive exploration program on the Altos de Lipangue mining district including entering JV agreements with companies that have the specific expertise necessary for exploring and mining the variety of targets we believe we have in the district.
- Focusing our resources on becoming an active gold producer by reopening the Fortuna gold mine and actively exploring and mining the gold veins found in the Larissa tunnel.
- Subject to regulatory approval, consolidating the capital structure, changing the name of the company, and moving to a higher exchange or tier on the OTC.
^^^ from: AURYN Sells Mining Claims to Cerro Dorado, Inc. | AURYN Mining Corporation
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"Creating a management team and Board of Directors suitable for an exploration company intent on becoming a junior and major mining company.
Launching a massive exploration program on the Altos de Lipangue mining district including entering JV agreements with companies that have the specific expertise necessary for exploring and mining the variety of targets we believe we have in the district.
Focusing our resources on becoming an active gold producer by reopening the Fortuna gold mine and actively exploring and mining the gold veins found in the Larissa tunnel."
Since they will be doing all of the above why not buyback shares instead of consolidation? A R/S is the worst thing that can happen to medinah shares after they are converted to CDCH.
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Can you be more specific in your question?
The stock price did not matter in terms of anything that was announced except for the conversion of the $1.6M in debt to shares, which they assigned a price of $.005 to MDMN for that conversion. CDCH converted $300K in debt to shares for approx 30M shares, or $.0078 / share. Both seem fair given where they have been for the last year.
Everything else is just math following from how many outstanding shares there were for Auryn, CDCH, and MDMN and how many Auryn shares CDCH and MDMN owned. Share price had nothing to do with that math.
Where the price of CDCH and MDMN go from here depends on the results of that roadmap.
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Subject to regulatory approval, consolidating the capital structure, changing the name of the company, and moving to a higher exchange or tier on the OTC.
You are thinking of a R/S and an immediate issue of more shares. That’s why people hate a R/S.
This is going to be a name change, ticker change, lowering of share count, along with positive cash flow and no further share issuance necessary and at some point a move to a higher exchange. There will be no Cerro Dorado after that. It will all be NewAuryn or AurynResourcesADL or whatever.
It’s lots of change folks. There is nothing that occurs to me as unfair. There was no other real path forward. It was just a matter of what the details turned out to be. Recall John and others predicted this path for almost two years now and Kevin was suggesting it openly at the AGM last year. It’s not a surprise although it seems sudden when it all comes out in one afternoon. Everybody was crying for news and they just got an overdose. Forward in 2018. ADL or bust.
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The update was followed up with a Merry Christmas and Happy New Year.
How bad can it be?
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Naming of the JV partner(s) should bring a welcome result.
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Thank you cornhuskergold. Your posts were very insightful. I finally put down the pepto-bismol…
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Apologies
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Absolutely wrong.
MDMN owns 23% of CDCH. Do the math.
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lol!!
We own 23.55% of 7,000,000,000 shares of CDCH which equals 1,649,130,00 shares of CDCH which will be exchange for 2,881,282,073 shares of MDMN which equals .57236 exchange ratio. I guess the difference is payment of the $375,000 in legal debts
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Thanks Karl - You are right. We’ll just have to see what kind of news AURYN can release to start an upwards appreciation from todays close. I just know shareholders have been waiting years only to see downward pressure on PPS. Many here would have to see 35X increase from today’s close to break even if heavily invested early on when things first looked to be turning around. Next year will be our turn-around year from present PPS without an immediate conversion if we continue trading from here. All recent past liquidity has brought downward pressure on price. I’ll be deleting my previous errant “math” posts.
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I’m thinking any potential JV partner would have demanded that things get cleaned up and consolidated prior to a deal being effected. Once all shares are transferred to Auryn and then distributed to us, then we should be good to go on a JV deal - if one is currently being considered.
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