I have great confidence that this has been looked at by the attorney’s working out the details. It may be in just what the exact explanation of the following excerpt from the MDMN announcement means and what the time frame involved is:
To this end Medinah plans to satisfy its financial obligations as quickly as possible and distribute the remaining assets to our shareholders before ceasing operations. We anticipate this will leave 1.61 billion shares of CDCH to our Medinah shareholders pro rata.
Congrats on having the roll out called correctly from early on. It was clearly the least expensive and simplest solution for gaining access to the US public markets. In a PM on Friday to another shareholder:
I noted AURYN has removed their intention to IPO using the F-1 route to gain access to the OTCQB® tier on their about page. So I guess the traditional IPO isn’t likely as I had originally hoped.
It was also suggested quite a while ago our Securities Counsel, Matheau J.W. Stout Esq. would use his favorite method, a non-traditional IPO.
I have been thinking the same thing. I am not even sure which is the better buy right now. Keep in mind it was only $21,000 dollars in trading on Friday that had the stock down to .0025. Any REAL buying would make them both run pretty well…
I think the Wiz is saying don’t expect there to be millions on millions of shares suddenly being bought up by the company. Let them do their real job - mining. Let the stock price do its thing as a results of their efforts. And remember, that could be good or bad, still a lot of risk here.
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.
The first comment about becoming a Major mining company sounds like we are going to try and go it alone without having to give up a substantial percentage of the mountain to a Major mining company. But then the second comment mentions entering into JV agreements to explore and mine the mountain.
Is it possible to do JV agreements without diluting our ownership percentage substantially?
Any comments regarding what i feel are two conflicting statements would be appreciated.
WELL this had to be done. the blood on the streets will soon be cleaned up and maybe we will actually see a way out of this Shitshow! I got nothing left to lose so why sell here! Everything to gain if what we are told is true. Onward and upward is all I got.
If Auryn sells a part of their stake, this will not dilute our ownership, like sell 20% for 200 Million, 50 million per 5%, like they are offering us, between me and you, for what the future value will be, it’s a very good deal, I know the value is not proven, But everyone here knows the how big the ADL and the other properties will be.
In 2017, only 9 million shares have traded in Cerro. This works out to $72,000 assuming an average basis of 0.008. (For Medinah, 210 million shares traded worth approximately $1 million.) OTC Data
Based on those numbers, don’t need any help from Auryn to potentially move this stock. A mere $100,000 of buying pressure could easily buy up an entire year’s worth of Cerro.
I can’t think of any reason why Auryn doesn’t want the price of Cerro to go up so simply executing their business plan and providing a steady stream of news should do the trick.
One other comment, I note that Dante Conetta was appointed CEO of Auryn on October 25 as Maurizio stepped down to be simply Chairmen of the Board. Then on December 15, Dante Conetta becomes CFO of Cerro and Maurizio becomes CEO once again. What is up with that? Dante has proven to be not up for the task? Did somebody/some entity insist that Maurizio be CEO? Hmm?~
One difference in buying Cerro vs Medinah now is that you will be able to trade your newly purchased Cerro shares without any restriction. When you convert your Medinah shares to Cerro shares they will have a one year trading restriction.
After Fridays news statement by Auryn is it fair to say Sillitoe gave Auryn the green light that this is the real deal? Remember Sillitoe was hired by Auryn.
From Auryn 3/14
This report is for internal purposes. It will provide Auryn’s team with a fuller understanding of the diverse geological structures found at the Altos de Lipangue and help place them within an historical regional context.
From Auryn 12/15
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.
So since Auryn which was a private company is putting all our shares Into Cerro Dorado that means there will not be a need to IPO because CDCH is already a public traded company…So I guess next is listing on a higher exchange after our conversion…is this correct? I believe this way is the best and fastest route for us shareholders of both
This reorganization is a mere procedural step. They can box it up any way they wish. The substance will be in the mountain and how management can perform monetizing it. It’s been a LONG time since management talked about “production” of 5,000 and 25,000 ounces, not to mention Dr. Richard Sillitoe paying us a visit back in February. Management OWES us news on the status of these substantive issues.