And you wanted Doc to tell you about the share’s that were stolen 
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Sorry GC!
And thanks Doc!
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Thanks for your analysis DOC.
Interesting you would bring this to light, in addition to all your geologic insights/comments.
Also, using CAPS allowed me to read it all without my glasses! lol
AURYN surely doesn’t want to hold 100s of millions of MDMN shares without working this tax angle to advantage. This $51 Million “NOL Carryforward” can only be used by Medinah if Medinah has cash delivered to it from AURYN via the IPO, or as a result of profits distributed by AURYN from early production. The time frame built in from the cash call loan agreement is 2-5 years. AURYN’s April purchase MOU regarding the sale of the MDMN Altos de Lipangue group of mining claims states:
MDMN effectively becomes an Asset Holding Company. All percentage cash flows resulting from production on the mineral-rich Altos de Lipangue Project claims will be disseminated to MDMN by AURYN Mining Chile SpA on a quarterly basis.
Further, the Company’s goals are to look at the real possibility of issuing cash dividends, and initiating share buyback programs. Medinah shareholders will share in the free-carried Altos de Lipangue Project production revenues for many, many years to come.
http://www.otcmarkets.com/stock/MDMN/news/Medinah-Minerals--Inc--Announces-the-Signing-of-a-Memorandum-of-Understanding--MOU--With-Auryn-Mining-Chile-SpA?id=128791&b=y
Did the final AURYN/Medinah agreement retain this part of the MOU in it’s long-term planning to recapture the $51 Million “NOL Carryforward” ? I would think MASGLAS and AHC/AMC would not overlook capturing this tax advantage from it’s portion of MDMN shares owned. Will cash put into MDMN be used for a share buy-back? Will a portion be distributed as a dividend to shareholders? It does not appear that the $51 Million “NOL Carryforward” is transferrable. It must be used by MDMN while it remains as a holding company, IMO. In other words, consolidation and distribution to shareholders of AURYN shares should occur after the $51 Million “NOL Carryforward” has been recaptured. After AURYN reaches or exceeds it’s 25,000 Oz AU projected production goal for it’s first full year of production a share-buyback and dividend would be possible and allow AURYN to accelerate it’s early production capabilities.
The May 16, 2016 completion of the sales agreement stipulates:
Furthermore, as part of the Agreement, Medinah has a 5-year option to acquire an additional 5% equity stake in AURYN’s capital structure for U.S. $50,000,000 (fifty million dollars). AURYN assumes all rights, responsibilities, costs and liabilities of the entire Altos de Lipangue Project. All previous Option Agreement contracts and addendums between the parties have been cancelled.
http://www.otcmarkets.com/stock/MDMN/news/Medinah-Minerals--Inc--Announces-Completion-of-Sales-Agreement-with-AURYN-Mining-Chile--SpA-?id=131937&b=y
While this may have seemed unattainable at the time, it was speculated earlier that this part of the sales agreement (5-year/$50,000,000 option) may be transferrable at a future date to a third party contractor desiring to JV for PN portion of the project. Having an early buy-in opportunity into the entire AURYN claims development of the ALTO by a mid-tier or major producer should be considered. A JV with a major for the PN would be a definite positive for all shareholders. There are several possibilities for distributions / dividends occurring if the mountain produces as expected. The greatest possibility of cleaning up the damage done by the fraudulent share issuances results from MDMN (and CDCH) remaining as holding companies after AURYN becomes publicly trading for several years, IMO.
The Q3 is due out in the next several weeks as AURYN continues to execute its mining plan. There will be no quick resolution to restoring the degradation of our investment over the years. My take away from the Informational Meeting last year is there are a lot of good people putting time and money into making things better NOW.
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Doc, could you repeat that please.
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Cliff notes version would suffice! 
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They were so focused on the financials and all other aspects of reporting to get back to pink. Now it’s been how long since Kevin stepped down? They still have not updated the company profile on the OTC. It’s not a big deal but you wonder what is going on that somebody can’t update the profile after being compensated by receiving Auryn shares! Wow!! These are the little things that make you wonder.
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Something’s never change with this company. Must be the dark cloud that’s over us. Hopefully soon we will see light come through.
I might be wrong on this but isn’t the CEO of Auryn the son-in-law of JJ. If so, help me understand how this could be good for us.
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Freeport news:
Looks like Freeport expects to spend $500 Million in capital expenditures in 4th quarter 2017. Can we get lucky, for once?
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They are for all intents and purposes completely estranged.
Recalling a brief mention by Maurizio at the Informational Meeting … indicated there may be litigation between MASGLAS and Juan over the purchase of MDMN shares. The sale of JJ’s MDMN shares to MASGLAS occurred well before the fraudulent share issuances were uncovered. No details were given at the Informational Meeting, though. Shown below are the original announcements by AURYN of the purchase:
Completion of Shares Acquisition
May 16, 2016 @ 7:59
AURYN Mining Chile SpA (“AURYN” or “the Company” or “AMC”) is pleased to announce that our parent company, MASGLAS Limited, has purchased 218,763,318 shares of the common stock of Medinah Minerals, Inc. (OTCMKTS: MDMN). The contract to purchase these shares was consummated April 29, 2016. Coincident with closing, the shares were delivered by the seller to MASGLAS Limited who then caused a new certificate to be issued registering MASGLAS Limited as the owner of record. These shares were received from the Transfer Agent by MASGLAS Limited on May 14, 2016.
As previously announced, MASGLAS Limited purchased 60 million shares subject to an agreement signed July 6, 2015. The shares purchased under the April 29, 2016 agreement were originally part of the July 6, 2015 agreement.
Completion of Shares Acquisition - AURYN Mining Chile
also:
September 17, 2015 @ 08:16
Further, on July 6th a contract to acquire 230 million common shares of Medinah Minerals, Inc. was signed between five (5) parties in a private share deal. As of today, 60 million shares have been delivered to AURYN and its associates and the balance of 170 million shares is pending delivery. This transaction exceeds the original intention to acquire up to 100 million shares discussed with Medinah management last year.
AURYN Mining Chile SpA Unveils Weighted Average of 26.9 g/t Gold in 200 Samples ~Bonanza Grades of up to 66.5 g/t Gold~ - AURYN Mining Chile
Yes Hulk, you can also say, things that make you go hmmm, wouldn’t be asking to much to have a sign of life from Auryn, just to make sure they are still breathing, and I don’t think it’s whining.
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I sure hope so Mrbubba.
Did you read the Chile Mining article I posted here 2 weeks ago?
The NOL is transferrable to an acquiring company if they are classified as operating in the same business. I’m sure Auruyn will find a way to take this NOL and use to their advantage. It’s inaccurate to assume that MDMN will be able to take advantage of this “asset” when Auryn is clearly calling the shots through their control of the BODs in both MDMN and CDCH. Continuing to predict a scenario where MDMN shareholders are going to sit around and collect massive cash dividends in the definition of insanity. Number one, Auryn is going to reinvest the vast majority of any profits back into the business. They are nowhere near the stage of distributing. Number 2, MDMN as a shell will no longer serve any purpose when Auryn goes public. I emphasize the “goes public” over an “IPO” because Auryn is also nowhere near the stage of being able to pursue a traditional IPO.
All this being said, it’s always nice to read’s Doc’s reminders of the potential underlying value of this vast resource. As MDMN has traded down to a mere $12M market cap (valuing Auryn at ~$43M) the stock seems to finally being trading at a steep enough discount to consider averaging down. Is Auryn worth $100M today? Nobody knows. Could they be worth $400M in the next few years? Certainly possible and this would translate into a tidy 10 bagger from here.
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AURYN Appoints Dante Conetta to CEO
AURYN Mining Chile SpA (“AURYN”) is extremely pleased to announce the appointment of Dante Conetta as Chief Executive Officer of AURYN.
Mr. Conetta comes to AURYN from Liderman (The Carlyle Group Company) where he served as Corporate CEO to a $170 million security business in Peru, Ecuador, and Chile with over 17,000 employees. Prior to leading Liderman, Mr. Conetta was the CEO of PECSA Corporation, a Peruvian oil and gas wholesaler that he turned from a B2B to a B2C company, leading to a 35% growth in profits.
Mr. Conetta will apply his visionary and strategic leadership and work with Maurizio Cordova to help AURYN put the Altos de Lipangue into production and become a public mining company. Mr. Cordova will stay on as AURYN’s Chairman of the Board of Directors.
Submitted on behalf of the Board of Directors
Here is his resume…impressive.
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Great news Rick. Soon to be our new CEO as well. Guess who was first to “like” Baldy’s last post of a potential 10 bagger from here? Welcome back Wizard. It would be nice to have you posting again Kevin. That’s if you are permitted of course…
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This says it all!
"Mr. Conetta will apply his visionary and strategic leadership and work with Maurizio Cordova to help AURYN put the Altos de Lipangue into production and become a public mining company. "
However AURYN works the NOL to advantage, it will benefit all shareholders. $51 million is far too large a sum to overlook without it being put to productive use.
Great! Would have been extra special had they said in the 4th quarter that would tell us the F-1 has been approved or about to be. Just that alone will be amazing news. Maybe next release