Replies to post #71407 on Medinah Minerals (MDMN)

[Beth0515]

So in your worst case scenario... you say MDMN is a 3 bagger from here going for .06... like I said a 3 to 15 bagger as I see it...

Oh, God no. Worst case is this pig is de-listed and proves worthless.

Auryn is contractually obligated to prove up the property

That is certain misleading. "Prove up" is not a geological term. It means nothing. AURYN has committed to certain capital outflows and other mysterious production requirements, most of which have likely been already achieved, but I'd love to see contractual detail support a shred of what you are saying.

In fact as of today they own zero of the property and have already spent millions... they need to exercise their purchase option to have any ownership... or tender an offer that will be excepted...

Assuming you actually mean "accepted" then we are in agreement.

Oh yeah... and the 15% will definitely have value placed upon it and must be purchased in any tender offer...

Sorry, but that defies logic and basic business sense. Repeating it does not make it true. The 15% is irrelevant in a TO as it ceases to exist. The ONLY relevant factor is the lowest number AURYN believes allows it to achieve its goals.

[paddydaddy]

WOW, that is about the most ambiguous post I have read in days.

Auryn is contractually obligated to prove up the property... probably have to spend X amount of money and achieve X amount of drilling/proving up etc... to remain in contract... otherwise they lose all they've spent and have no rights what so ever to the property

So let me get this straight. They are contractually obligated but if they don't then they own nothing and lose all the cash they have already spent?

So in a sense they aren't contractually obligated to do diddly. And given the fact that JJ and his minions couldn't negotiate their way out of a wet paper bag the assumption could be made that there is also no penalty for not proving up the property.

Maybe it will, maybe it won't. It's always been 50/50 with Medinah.