Medinah Minerals (MDMN)

[Beth0515]

. it's just the fact that MDMN owns 25+% of Auryn... so Auryn must succeed first... for MDMN to share in that success...

See, that right there is the fallacy. There is no logic or rational basis to have faith that Auryn will treat MDMN as an "equal" or even deserving pro-rata sharing. In fact, there is a lot of contemporary evidence that suggests Auryn will be highly disinterested in MDMN's good fortune based on the bad faith of former insiders and theft of 50% of the capital structure. There is a big difference between a 49% stakeholder and a 51% owner. We're meaningless. Auryn got what they want- the property, without paying for it. Les got what he wanted- more time to fleece the company and line his pockets. He wouldn't be dumping his shares if he thought they were worth anything.

Jetpilot is right, Kevin has his heart in the right place. But this ship has sailed. Remember when I told you that Kirkland's quick exit and the emergence of Vittal was a terrible harbinger for the company. Pretty much nailed it, I'd say. Kirkland at least tried to warn us about the Auryn deal, but the koolaid flow was too strong.