The Mining Play

Medinah Minerals (MDMN)- 2017 Q4 General Discussion

I know! :slight_smile:

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Regarding a geological update, I’m looking for any kind of follow through on the latest PR and Chile Explore Report - a timeline, plan of attack, current status. Something that allows investors to set expectations. Perhaps that is premature until the consolidation has completed, but I believe it is something that should be addressed within the next quarter at the very least.

PS - Your suggestion to consolidate to one thread is a good one. Perhaps we’ll do it for the new year.

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There is no ambiguity in your statement that “they have been looking to conclude a JV for more than a year”. You seem to think that this is all they have been attempting to do. How do you know this?

They have publicly stated that there have been Majors on the mountain and that at some point we will be JVing with one or more of them but I thought this would come after more drilling and exploration on our part had been done. Seems like we would be cutting our selves short by JVing to early.

No…they need the JV to do that. Drilling a porphyry is very expensive and Auryn has probably already burned through their original seed money. I’m sure at one point in time, they hoped to fund exploration simply from gold production but that has taken too long. Regarding obtaining a JV, I’m just relying on their public statements and comments from those that were at the various shareholder meetings they attended plus the apparent lack of any serious new exploration on the mountain as evidence they are still seeking a JV.

I think they have a very good model of the claim areas and have an “attack plan” to maximize immediate cash flow. The two new hires evidence the fact they are serious miners and are definitely planning to move from the “minor league” with a future playing in the “big league” IMO:

Dante Conetta, CFO
Mr. Conetta is an accomplished executive based in Lima, Peru with domestic and international experience in marketing and sales strategies, finance management, multichannel product distribution and leadership in growth companies and turn around processes. In his more than 20 years of career, he has held several positions as CEO in Services, Oil and Gas and Retail business with proven success. Mr. Conetta holds a bachelor degree in Business Administration and a Master of Science in Finance both from the Universidad del Pacífico in Lima and an International MBA from the Instituto de Empresas in Madrid, Spain.

Walter Casquino
Mr. Casquino is a mining engineer from Lima, Peru with extensive experience as a manager of private operations and projects, and also in civil service where he chaired the Geological Survey of Peru. He is a results-oriented individual and a specialist in developing natural resources projects, with proven ability to lead high performance multicultural and multidisciplinary teams to meet and exceed strategic project goals and operational efficiency. He strongly believes in a combination of personal attributes and team work as key indicators of business performance. During his + 30 years’ experience, Mr. Casquino has committed himself to fulfill business vision and mission through the integration of private gain with public responsibility, academia and manual work, economic and social goals, local and regional opportunities, organizational structure and state of the art technology, training and creativity. Mr Casquino has followed his college education at the Engineering University of Peru and his postgraduate studies at the University of Science and Technology of Rolla, Missouri.

they already had a cash call.

Auryn has more money than people realize imho. If you noticed since the time Auryn came into the picture there was never any mention of shortage of funds of acquiring other claims, exploration, mine building, etc… Can someone please guide me to where Auryn has stated they are/have been short of funds? Yes most likely they don’t have the funds to mine all the Alto but for the smaller projects we will be pleasantly surprised.

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I still think the cash call was needed to “clean AURYN’s books” in preparation for the CDCH merge and prepare for becoming a fully reporting company. All “profits” and expenses from the mining operations will be fully transparent in preparation for audited financials.

Hulkster, I like your predictions and posts. Do you foresee an early JV or two in the wings?

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[quote=“easymillion, post:770, topic:2036, full:true”]I still think the cash call was needed to “clean AURYN’s books” in preparation for the CDCH merge[/quote]This is true.

I would go with what Auryn has stated starting from January of this year. Unfortunately Auryn has removed all their notifications prior to September 21, 2017. We know that in January there were at least 3 majors that were interested 2 being bigger than Freeport. I believe there is one JV right there with copper prices surging, amazing infrastructure how would someone pass that up. Now you have Auryn stating " 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.".

Auryn has so far have done what they have stated and has not misled the shareholders at anytime past and present. Next year should be a much better year for us shareholders that have been beaten down for the past few years.

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I would think that it took them this long to clear up Les’s crap that screwed everybody up and not lack of funds. Nobody in their right mind would release any good news with all the law suits going on and Les and his cronies having all those shares to dump.

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That didn’t help matters but for sure they have several issues with mining the Caren. The first was they had problems with all the unconsolidated material at the tunnel entrance which required a lot of structural support near the entrance. Then they had issues with ventilation. Then they had issues with following the gold vein which would suddenly stop then restart at a different location. Also the production adit didn’t intersect the bonanza grade ore which was somewhere well above it. Finally, we know that mining regulations require escape chimneys etc which are time consuming to build not to mention the various permits and mining inspections they had to have. All of that together adds up to a lot of delays.

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I don’t think the POS Les selling should be put in past tense.
There are 2 entities that could be dumping the number of shares we’ve seen, Les and Auryn.
We’ll find out if this is really tax selling or not next week.

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How about people Les sold to? Maybe they are feeling lucky nothing happened to them so best to unload the evidence to be done with it? Just snowballin…

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The 2.8B outstanding share count includes them and they are here to stay.
Why on earth would someone be dumping all these shares? I understand some selling for tax loss but this has been a constant influence on our downward trending share price.
Every time there is a significant buy (from a sell) the price is taken right back down as if it’s being boxed in and not allowed to make any kind of run.
I’m no market expert but it doesn’t take a rocket scientist to see our price is getting messed with.
I wouldn’t rule out two large entities maneuvering it down for future profits but WHY it’s happening is the big question.

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If we could get even a superficial status report on the perhaps still positive geological posture of this thing, then we could gain confidence and INVEST, which would eventually drive the price up. Dr. Sillitoe came to the property 10 months ago - has he said absolutely nothing since then? Does he have health problems? I like the “hints” Brecciaboy and Mike Gold are nice enough to highlight for us, but the current state of “transparency” is less than inspiring - almost makes one long for the good ole days of back-channel information. Yep, it’s getting THAT bad. I’m starting to worry that the “smart” money really is smart. Is the current market price truly reflective of our value? Hmmmmm …

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Now that Auryn and MDMN have laid out a plan and an inferred timeline, a bolder investor might consider selling now, take the loss for 2017, and reinvest in other opportunities that have near term upside. There will be plenty of time to revisit MDMN and/or CDCH in 2018. It’s not “just” Les and Auryn. There can be a myriad of possibilities to explain the big ask.

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It’s too late to take a loss for taxes purposes against gains in 2017, that should be over and would have been taken three days ago, or earlier.

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Seems that the volume has dried up a little.

The Staff has decided in the New Year to start a new thread, locking the old Medinah and CDCH threads. We heard the many many calls (I believe one):grin:. “ANYWAY”. We decided we need a New name for the thread one that has a kinda combo or inclusive of all three companies so no one gets to confused ex: the New Medinah - Cerro -Auryn thread. We will start out naming the thread by all three but was wondering if anyone has an idea for a new name we could use till Auryn/CDCH comes up with a new name… Thoughts !!!

And BTW: everyone please have a Very safe and Happy New Year​:tada::tada:

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