Replies to post #68957 on Medinah Minerals (MDMN)

[Beth0515]

I'm going to have to disagree with you here. The NI 43-101 report (or whatever anyone wishes to call the resulting geological report) is a condition of the option agreement.

You could possibly be correct. All I remember regarding such a report is what was in the initial news release:
"The Finalized Joint Venture Option Agreement provides Medinah Mining Chile with a unique opportunity to attain a completed NI 43­101 report. The drilling and exploration program will highlight and further delineate the previous geological work completed by ACA Howe, and will commence no later than August 31, 2014."
Sadly, this is the typical, mealy-mouth Medinah speak we've become accustomed to. If a NI 43-101 was a specific requirement in the option agreement, I would think the related language would have been MUCH clearer. Perhaps you've dug deeper and found syntax more concrete, specific and binding than this. I find the foregoing text to be unpersuasive, in and of itself.

I agree with your general premise as to the usefulness if not outright necessity of such a report if exploration is to become serious with a goal towards defining our resource, whether as a stage towards production or as a step in finding a partner. My fear, in case it isn't obvious, is that Auryn isn't interested in committing resources into materially furthering the project without a clear path to company control, which of course is certainly not economically feasible without JJ et al surrendering 300MM shares.

There is a reason drilling ceased and the overall exploration has crawled at a snails pace. I've heard several theories from those with backdoor connection to the company explaining the slowdown, none of which sounded much better than apologist fantasy to me.

Be honest, aren't we far lagging where you thought we would be in June 2015 based on our expectations last summer? Or is that just me?