Put me in the camp of those who are waiting for Auryn to prove up the mountain. I do however have my misgivings regarding the pure intent of all the parties concerned from Les to JJ to Greg and his entourage and have a hard time to simply dismiss all the past and current efforts to enrich themselves at the cost of the shareholders. I will accept a certain amount of incompetence. However, they seem to be expert in finding ways to bring new stories to the table to attract more bees to the nectar that never turns into honey for the waiting shareholders.
I also have this unsettling feeling that somehow Auryn was set up to accommodate the final distribution of, if not all the insider's shares at least enough to finally satiate themselves. This is just a feeling, and feelings are not the way to make an investment decision nor should you believe I have any information to back up my thoughts on Auryn. I am merely putting the pieces of this puzzle together as best as I can and do not see any reason for the huge decline in sp ostensibly with such a capable partner.
If the planned flyover mapping proves the property not worthy of the continued drilling, we will have a sudden exit and see the sp cascade down like the waterfall at Niagara.
I don't know enough to ask the right questions, but this I do know. Why is Auryn, a private company newly organized with just enough pedigree to provide a certain degree of credibility, and yet not the scrutiny that a more established mining company would be put through, the one to pursue this world class property and not Volcan and for that matter not one of the number of other second tier mining companies who could use another multi decade producing property such as ADL and LDM and the other holdings of JJ et al? This question may not be founded on anything but feelings, and as stated above, you cannot take feelings to the bank. Just my thoughts.
Should Auryn in fact make the decision to continue drilling and discover that the property is economically feasible to mine, what will that mean for the shareholder? There have been some work shooting from the hip on this question, but with the share price now in the trough, and so much in outstanding shares, how much will the $100M option money, if the option is exercised and the 15% trailing interest, mean to the common stock.
The jury is out on that.
As to law suits if this turns out to be a scam, frankly count me out. This falls in the catagory of life's too short.
