Medinah Minerals (MDMN)

[Surwin]

But this contract should have been written so that our 27½% was free carried, non-dilutable interest

You have to be joking that is unheard of in the industry. As I explained before the maximum anyone ever gets in "free carried interest" is about 5% and the norm is about 2-3%. Once we went into a sale agreement where we got an equity stake in Auryn everything changed. We are treat the same as every equity partner. In other words you either put up your share of the costs or you get diluted. Why should every equity partner have to contribute except for MDMN?

It is rather simple, either you get a free carried interest of 2-3% ( no equity interest in Auryn) and do not have to put up any money or as a equity holder you have to put up your fair share.