Before everyone gets too far ahead of themselves regarding the news of AURYN'S notice to buy shares on the open market, I believe, as I posted earlier, they have been buying in the open market.
Moreover, I don't think this news will be the major catalyst for the sp to pop too high. I see a nice bounce from these levels in the short term, perhaps we might see as high as $0.12 to $0.16 range if we have high volume days, but the news we will now need is the reveal of the the planned drilling and exploration and results therefrom. If the results are off the charts, then we're up in blue sky territory.
An off the charts NI 403 101 report is absolutely critical for the valuation of MDMN. Conversely, if the NI 403 101 report is less than expectations, then we may be in for a deep slide from the highs.
Clearly, with the successful NI 403 report, there will be a spill over effect on to the LDM and other properties that Medinah controls. A strong NI 403 101 report on the ADL will add a confidence level in the management by the markets. The rational would be that if the management JJ, et al are able to judiciously amass the type of claims as the ADL, then one could easily make the inference that these guys know what their doing, and the locked up value of the LDM and other claims will be wide opened, even if by speculators who don' t want to miss out on the LDM and other claims, if they were not on board during the LDM agreement.
Pending a strong NI 403 101 report to make the real bank.
