Followers | 141 |
Posts | 5891 |
Boards Moderated | 0 |
Alias Born | 10/27/2003 |
Thursday, February 16, 2017 2:31:01 PM
February 16, 2016
Medinah Minerals, Inc. (Medinah) (OTCMarkets: MDMN) is pleased to report the sale of its 15% interest in Compañía Nuoco Mining Chile S.C.M., to AURYN Mining Chile SpA (AURYN) for 645,000 shares of AURYN. This brings Medinah’s total interest in AURYN to 27,469,000 shares or 27.5% interest.
Kevin Tupper, Medinah’s President & CEO, reports, “This is an important step in cleaning up Medinah’s balance sheet. Medinah was not in a financial position to contribute its 15% share of the NUOCO expenses and had no way to maintain its interest. Selling our interest to AURYN provides us with an increased percentage in the overall project and also enables AURYN to directly own 100% of the Altos de Lipangue Mining District claims. Furthermore, in light of AURYN’s recent announcement regarding the public listing of their securities, this puts Medinah in a stronger financial position.”
Submitted on behalf of the Board of Directors
http://medinah-minerals.com/medinah-minerals-inc-sells-nuoco-interest-to-auryn-mining-chile-spa/
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM