Time to move on? Old news? Comical.
We're mere 25% equity investors with a minority interest in Auryn. Auryn now has every reason to exercise their complete control and leverage, which came, of course, in the one-sided deal our BOD made during which period of time insiders were dumping hundreds of thousands of shares of stock on a daily basis. Why would they care they were giving away the farm- they would still make bank.
Like I told you 100 times, Baboon- there was never, ever, even the slightest, most fleeting chance of the $100 million payout.
Now we've lost Auryn's goodwill, and embarrassed them to boot. Bad move in South America.
Kiss dividends goodbye. Auryn has a multitude of strategies available to ensure no cash flows reach the 25% minority party. Progressively larger cash distributions? That's rich. Won't happen. Book it. Like they'd waste perfectly good coin spreading it over a 3 billion share float, half of which was placed unethically.
Wake up and smell the coffee folks, we may not survive this one. We certainly won't get rich. I think any intelligent, arms-length analysis of this situation would conclude it is highly unlikely the vast majority of us will even recapture our cost basis. After all, it just got twice as hard with yesterday's news, and that's not even valuing the hit to the already pathetic Medinah reputation.
We got in bed with scoundrels and those (other BODs not directly complicit in the theft) too stupid to realize they were empowering scoundrels. This is the result.
I told you- Kirkland jumped ship for a reason. Why leave a gold mine on the precipice of production unless something was very, very wrong. Guess what?
