Medinah Minerals (MDMN)

[Pocho69]

At least someone is willing to take down the mask to those so called "wannabe mining experts" even if they are only dentists. This guy really things he can fool people but thanks god there smarter minds than his.
But than , wasn`t the guy stating that Ulander was a good guy and he would have for sure closed the deal with MDMN???
Sometimes I wonder if those are the guys that are actually sold a lot of shares all the way down to here from when we hit .11.
You got to wonder that.

Like clockwork. Let the back peddling begin:


Today:

"I would assume that once the ADL option is exercised then Medinah will have a 15% equity interest in the development phase of AMC perhaps referred to as "AMC INCLUDING THE ADL". If AMC were to go out and raise $1 billion to build out an open pit at the ADL I don't think for a minute that Medinah will own 15% of AMC in its new "AMC INCLUDING THE ADL AND INCLUDING $1 BILLION IN CASH". I should qualify that and state that I don't believe Medinah is going to still be around in its current form at that moment in time because AMC is probably going to want to repurchase that 15% stake."

Versus Sunday:

"If the 15% stake is indeed CAPEX FREE and the CAPEX for this project comes in at about $1 billion then the CAPEX FREE aspect could be worth somewhere around $150 million by itself to any major miner wishing to purchase a 15% stake. Keep in mind that the owners of the 85% stake responsible for 100% of the CAPEX expenses could theoretically play hard ball and threaten to stall the development of the project until the holder of the CAPEX FREE portion made concessions. I doubt that this would be much of a concern if AHC/AMC owned a very large percentage of Medinah's shares and therefore of that CAPEX FREE stake and with Sr. Letts being on the BOD of Medinah and owing all of those fiduciary duties to the shareholders of Medinah."

You honestly can't make this stuff up. I commend the man for changing his position (over a three day period). Similar to his earlier accusations that a $200M purchase order would be absurd, Decosta is now admitting that assuming the 15% would be carried against CAPEX is unlikely. These seemingly obvious conclusions don't alter how most of us are viewing our exit from this position but they should highlight the need to for some to put things in perspective when evaluating this investment.

The never ending pie in the sky pontifications by those claiming to be "in the know" are damaging to the underlying credibility of these boards. Way worse than the IHUB bashers who most know to ignore. IMO