Sorry to disappoint (not really) but I don't believe insiders are selling shares in the fashion you suggest. From time to time everyone might need to sell for needed cash but you appear to be suggesting that they are dumping shares on the market. Why would they dump shares at 5 cents? Stop! Before you answer that read the following that was provided elsewhere.
Here are a few bits of information that I have received from management over the past few days. Thought I would pass it on in the event it may of interest to some of you. PLEASE...remember this in "unofficial" information and should be view as such.
Hope you all have a great weekend and your favorite teams wins...as for me I will be pulling for my Baylor Bears to continue their winning ways on the way to a Big 12 title....and...GO TEXANS.
Ray
Management will be traveling to Chile the first part of December and will be meeting with representatives of Auryn. Management has already had discussions with Auryn regarding their offer for the LDM/Mambo properties but they are not yet ready to make their offer as they are in the process of completing their geological work.
There is only one NDA remaining and that is between Auryn and MMI,NA and that relates to Auryn’s buying of MDMN shares. All other NDA’s were between Auryn and MMC and those have been removed. The reason that there is an NDA regarding the purchasing of shares by Auryn is that their buying of MDMN shares is related to a “securities information disclosure” and must be protected by and NDA. Auryn has one year from the contract date to exercise the option to buy the ADL for 85%. Why? Because the powers that be did not feel it would take 36 months to complete their due diligence and therefore one year is sufficient to allow them to make their offer for the ADL. Auryn’s business plan does not "require" that they wait until the feasibility study is completes and the NI-43-101 is attained.
The first four holes will not cost the entire $10 million that has been allocated for drilling. Once the first four holes are drilled, Auryn will continue drilling more holes in order to prove up the property. In the event that Auryn elects to exercise their option to buy the 85% of the ADL following the assays results from the initial expenditure of $10 million, the purchase price will not necessarily be limited to the $100 million minimum contracted purchase price. There is no cap on the minimum $100 million purchase price because the final price is “results” driven. In the event Auryn exercises their option to buy the ADL before the contractual period of 36 months has expired, the 36 month Option Agreement will be terminated upon payment of the purchase price.
Management believes “open pit” mining is the best choice for the ADL, but obviously, that decision is in the hands of Auryn. There are basically two choices for who will eventually mine the ADL. One is for Auryn to conduct the mining operations and borrow money from an international bank to fund the project or form a partnership with a mining company who in turn would fund the project. The decision depends on the size and scope of the mining operations. Once Auryn exercises their option to buy 85% of the ADL and the offer is accepted, they would move very quickly to begin mining operations as they would not want to tie up possibly an excess of $100 million dollars.
MMI,NA is opening an office in Santiago. The office will be an accounting office and a communications centers. The office will be shared with MMC and Nuoco. Medinah will have a dedicated line to serve the Spanish speaking shareholders of Medinah. One of the purposes is carry on other MMC business.
I don't believe the above was offered as all inclusive information but rather as a compilation of bits and pieces of information assembled from several contacts and my guess is that additional information will be developed as time goes by. Only the author knows for certain.
AI
