It took longer than many thought it would, but the day has finally arrived. Today’s the day the market ran out of patience with the jam tomorrow tosh and nonsense out of Auryn Resources (AUG.v). A junior cannot live on cool presentation material and large sponsors alone because all the talk about its wonderful plan has to show in the drill core, too. And don’t even get me started about the stuff they picked up in Peru, picked over for over two decades and now packaged as the next Chucapaca or something. Cardozo really saw you coming, guys.
When (not if) AUG.v breaks $2 to the downside, the wholesale margin calls that Haywood will deliver are going to push this over-hyped vehicle even lower.