Let's review what mdmn actually "owns."
In the good old days, there was talk of mdmn retaining a 15 percent carried interest in the mountain when mdmn had less than 1 billion outstanding (reported).
The mountain is now owned 100% by auryn. We are a 25 percent shareholder of auryn. Auryn spoke of selling the los negros portion/claim to a major for an eventual 3% carried interest (industry standard) if the property goes into production. In effect mdmn's share of the carried interest in that portion of the mountain would be less than 1%.
Except to the extent that auryn does its own mining (eg. on the caren vein (all 7 of those miners hard at work!) we will have less than a 1% carried interest in any of the claims.
Someone tell me how that translates into more than 2 cents a share with 3 billion (for now) outstanding.
This stock is dead without a pump. I say bring Les back. He'll figure out what to do.
By the way,another interesting factoid, from the meeting. The president/ceo of auryn is Juan's son in law. I'm not sure what the implications are but everyone should be aware of it.
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