Why? MASGLAS is a well-funded foreign private company expanding their mining interests the legitimate way. They have no need for Medinah (the company) and its bloated share structure and reputation now that they've gained control of the ADL prize. Their only interest in Medinah will be for its stock based on the ownership interests.
I know MDMN shareholders are jaded, damaged, suspicious and so forth, but at some point you need to take a step back and away and realize that the old MDMN of questionable self-serving deals and backdoor hype whispers is almost completely dead. Chapin has stepped down (though he will be getting a payday for fronting a lot of money to the company). There is no more JJ. Auryn has no need for Les Price whose influence on this stock has been all but neutered since they now control the property, have JJ's and Claro's shares and no longer require his services as a liaison or buffer...whatever the case may be.
I'm not saying there is a new exciting MDMN taking its place...far from it. For a passive observer it will be a comparatively boring stock for the foreseeble future while Auryn proves up the property and sinks revenues garnered from small scale mining back into proving up the property. It will be dependent upon the POG and results from drilling and revenues from mining. Anyone following the Auryn/MASGLAS moves should realize this by now.
However, MDMN as merely a holding company of 3 mining interests (25% of Auryn, 15% of NUOCO and some shares of CDCH) is neither an overvalued scam nor an undervalued opportunity of a lifetime as many an opinion on this and other threads will gravitate to. It is now merely a (compelling IMO) backdoor investment into whatever ADL has to offer, nothing more, nothing less. And as I continue to maintain, MDMN will cease to exist when Auryn or MASGLAS eventually takes them out in order to seize control of the entire ADL.
