The Mining Play

October 1st, 2016 Informational Meeting News


if that makes you feel better about it… but the “10x the gold” would still be there if your shares were still worth twice as much


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There won’t be any distributions until we know the final share count of MDMN. The capital structure is and will be paramount to the stock price for a loooong time. The good news is clearly that the mountain has the potential that many have been predicting for many decades. Unfortunately, it’s not as simple as saying we have twice the share count so if we produce twice as many ounces it’s a wash.

What will be interesting, assuming CDCH spins off the 5% of AMC into a public shell that Auryn approves, will be what if any dividends they begin to receive. If Auryn controls CDCH they should have no concerns about sending the company money once they are in a position to do so.

With MDMN the share price will key more off of shares being cancelled, how the preferred play out, etc…I haven’t read many details on insiders returning shares. Sounds like Chapin and Vittal are returning all of their shares? Smart move. Next up should be Tenney, Goodin, and any other insider. Sorry to Larry Regis’ family but those preferreds should be cancelled as well. I’d be shocked if guys like Ian Dow, Jim O’Callaghan, and others who were issued 100’s of millions of reported shares didn’t also participate in the hundreds of illegal private placements. Feel free to attack me for jumping to (logical) conclusions again, but I’d remind you that I said the same thing about Vittal who’s now returning shares. Would an innocent man do that?

It also sounds like Chapin and Vittal gave up their NUOCO but any details on that would be appreciated. I would think we should be able to get the balance of those shares given how shady the deal was in the first place. If Chapin is returning his shares, so should Kleen.

Anybody associated with Les (including Jensen, American Registrar, JJ, and the droves of individuals who “lent” the company money for discounted shares (both reported and non reported) stand to lose all of their shares. Visibility on the clawback may take time but the stock will start to discount the progress/production on the mountain once the share count comes into focus. Until then, try your luck on CDCH or put your shares in a drawer and watch the results on the mountain play out.


It was insinuated that Auryn should be profitable by EOY
If Auryn can build capital over and above drilling and exploration costs, mdmn will begin to have value assigned due to ownership of Auryn
We also just got another 1.7 percent ownership of Auryn thru Chapin. This adds substantial value.
I was also impressed with the explanation given as to why this potential WCD was frozen for 42 yrs. Mainly due to fragmentation of ownership. This kept the district safe from mining.
Auryn has now consolidated the properties in just the past few years. Pretty impressive and ready to drill and mine
I don’t know what is going to happen next week with the stock price but I’m very comfortable with the long term look.
I cringe to think where we’d be if Gary had not zoned in on reporting numbers himself
It’s pretty obvious to me that Les is the maestro in the share issuance with the T/A right at his side.
Folks, the co is going after these crooks aggressively and will claw back every share they can
Looking forward to the first cash distribution to shareholders whenever that may be
Thanks to Wizard for everything and enjoyed the last slide indicating light at the end of the tunnel!!!


MUCH APPRECIATION to those who shared information here! I’m especially very happy to know that MDMN is serious about taking action against LP and anyone else involved. I don’t care how long it takes, as long as they are thorough and it gets done. I have to say now that this is all out in the open I wish I had taken some action beyond simply stating my feelings of distrust and suspicion for the “man” all these years. Another lesson learned.

Fortunately, the mountain is beginning to look something like what many of us were lead to believe for a very long time. I am relieved that this long term investment has what is appearing to be a gold lining. Now I’m starting to feel like only a normal idiot instead of the king of fools. :slight_smile:


CHG, thanks for your thoughtful and incisive observations. OT: Nice to see Riley is working out for Husker Nation…


Well said, TR…or, the way I heard someone put it: The monkey is off our back but the circus is still in town!


And a double thanks to Wizard for all you have done and are doing to keep us informed.


I am interested to hear how the potential JV for the PN benefits MDMN in the near and long term.


I think we’re all sitting on the front two inches of our seats waiting on what brecciaboy has to say - well, most of us.


The benefits of any JV is that a bigger partner spends the money to prove up a property that the junior partner does not have the resources to do. AMC perhaps could do the initial drilling work. But they have so much other stuff to do and explore it is probably a good choice for them. Especially since it is certain, as Maurizio stated, that Auryn would not be able to put the PN into production by themselves as it just costs too much money. It could cost $1B+ to put a large copper / moly porphyry into production.

So assume the JV proceeds, and if the property is proven up and is viable. At each stage of the JV Auryn’s ownership percentage decreases but the proven asset value increases greatly. MDMN would own their percentage of this asset.

This continues for 2 or 3 phases of the JV, several years, and if all goes according to plan usually the end game is the senior big partner buys out the remaining ownership of the junior partner, or at least most of it. In this case, Auryn would end up with some kind of buyout event of their ownership of those properties and this would be cash to Auryn a pro rata portion of which could theoretically be distributed to Auryn shareholders. Alternatively, it is possible, as Maurizio spoke about, that Auryn could retain their portion of the properties (15%? ) and Auryn’s portion of the production capital costs could be footed by the major as a loan to be paid back out of production proceeds.

SUMMARY: for the next several years it will be about exploration results, increasing asset value, and the implicit value of having a major associated with Auryn and the mountain. This should bring a credibility boost. And it brings in new shareholders. There are significant PM and commodity investors whose investing strategy is simply to front run a buyout by a major. As a buyout becomes more and more likely you will attract more and more investors like this taking an early position expecting to be bought out by a major. Those guys can not buy Auryn directly. So MDMN / CDCH would be their options.

Medinah Minerals (MDMN) - 2016 Q4- General Discussion
Cerro/Medinah/Auryn- 2018 Q2 General Discussion ⛰

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Another takeaway for me was; we don’t have to figure out who was complicit with the fraud and who wasn’t. Who was negligent and who wasn’t. Who should give shares back and who shouldn’t. Who we should go after for damages and who should get a free pass.

The law firm hired is very professional and will be more than adequate to accomplish this and look under every stone. However, I’m sure there will be many opinions posted along the way until their report is finalized.

Some felt uncomfortable with Greg funding an investigation into his own possible error’s and omissions with a bridge loan to the company, thinking that may influence the outcome. Gary asked for anyone else to step forward, but I don’t think anyone did. I can see a few reason’s why Greg would do this:

  1. He thinks he can salvage his reputation in the eye’s of the shareholders.
  2. He’s a man a character and thinks it’s the right thing to face the consequences of your behavior/choices in a public trust.
  3. He recognized that it needed to happen as soon as possible or critical time/information would be lost.
  4. He thinks that if he’s the one paying and gets ahead of it, he will be excused or pardoned.
  5. He’s stupid and ignorant.
  6. He’s mad at Les and wants vengeance.

I’m guessing a poll from the attendees would have votes for all plus a few write-ins.

My impression was that any bridge loan is only a down payment on a very expensive engagement and will be repaid out of our share of smelter checks before the report is finalized.


I guess we could put up a similar poll with similar choices on why Gary would jump right on this.


Great meeting!!! But where do we go from here? I am considering taking a loss and reinvesting. Then keep an eye on mdmn and perhaps reinvesting in 6-12 months. I don’t know if we trade over .02 by the end of the year. Any thoughts???


thank you to all who went to Las
vegas and then posted on here all of the information.


Is his real name Les Price? Just seems too perfect/ironic (as in Less Price). And how old is this clown and are there any pictures of him out there on the interweb?


That is what intend on doing -take a loss come back in a year a see if anything was resolved still not out of woods from my perspective
Thank you all for keeping use informed this weekend stay away from sociopaths many are in this business thank god for the Letts family see down the road Four years waiting-I’m out


My eyes can’t bear looking at the screen that long! LOL