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Medinaminer: I would appreciate it if you could post publicly any information that your contacts may provide you. I would like to hear from an outside party just whats going on up on the mountain. Many Thanks!
Let's ask a resonable question. Why did Medinah come out with this laterst Q&A at this time? Was it because they care about the stockholders?
According to those close to management and are the ones dispensing the koolaid, JJ doesn't give a rat's behind about the shareholders or about the price of the stock.
One should note following the latest update which is no longer on the wedsite, that it failed to move the PPS up that much. But it did help and then what happened...someone sold a ton of shares.
Price goes back down! Now without any seeming reason, a new Q&A and the price goes back from .059 to .068 and possibily a little higher but enough for someone who owns millions of share to make a nice profit. My guess is that there will be another sell off in the next few days. It wouldn't make sense to issue a Q&A right before the deadline expires...not enough time to run the price up and sell. My point! Someone knows where this is going and wants to profit as much as possible before the stock tanks on the announcement that the latest JV contract is no longer valid.
I really hope this plays out different but this is JMO. Hope I am wrong.
Indy: It's amazing to me how people still suck up any word from Les as anything worthy of even posting. This guy has done this to us so many times and yet his words still bear posting on any forum. It reminds me of Linus and Lucy at Thanksgiving. He is getting ready to kick the football, Lucy is holding it, and he knows she has pulled the football away at the last minute every time, yet he still believes this time it's different...well, when he goes to kick, she pulls it away as usual. Now I know where Les got his inspiration!!
I just wonder how many times after Les has played us again, that he walks away and says to himself, they are the most gullible people I have ever met. They still believe after all those times I have played them like a violin. Well, as long as they believe, I'll keep feeding them the BS.
And now we hear the "word on the street is 48 hours"...how is that DD. If you are going to make that statement give us your source or else it's just crap like all the other kookaid that's out there for gullible peole to drink.
I believe that the mountain is real but it isn't going to mean anything real until the money lands. But it's getting more difficult every day to believe this will ever get done. But until I hear different, I'm not going anywhere. But what I believe will come from Medinah's website not someone posting their DD without giving us their sources.
Well they deleted my last post, and will probably delete this one, but I am right there with you doing DD the best I can. I choose not to sit on my hands and keep trusting in the Medinah koolaid. If this thing is going to be played out over and over as it has then I want out. I think some are afraid to ask questions. Let them do what they want and I will do what I want. At this point I really can't say! But I will employ those who can do the DD professionally and think can give me the answers I am looking for. Thanks Again.
Thanks for the info.
Veblen: Since you have stated that you have 26 law credits toward your BBA, do you know if there is any way that we can by way of legal recourse, force management to provide "more reliable information" for the stockholders? How about the NDA, can stockholders force management to set that aside and tell us where we are at regarding matters related to the JV?
IMO this last announcement was a play that management had standing by to use once the "stuckholders" began to get nervous again over the failure of the JV partners failure to get their money transferred into Medinah's hands. It really amazes me how I and others are led down this primrose lane so many times by managment and their "unofficial" pumps and we just continue to buy the koolaid and drink deeply. It must numb the senses. I know it can be attributed to one word "greed". How powerful the prospects of an unbelieveable payday keeps us in and blind to so much that just doesn't add up.
Everyone touts the JV contract, but just as Arp1944 said on another forum, a contract is just a paper with names written on it and until both parties meet the performance demands of the contract, it is not a fully executed contract. Although supposedly the JV partners met the demand of a "deposit" and stand to lose said money, companies of this size walk away all the time when and if necessary.
This last announcement simply states they have signed a "letter of intent." Again, if they don't find the yield up to their standard, they can simply walk away and we have nothing...except another 45 days for us to drink some more "koolaid". Here's the real intent...an announcement that got us away from focusing on the real deal that's why this is over three months into the extension and the JV partner is still resolving "internal" issues.
Where's the koolaid..hope they have a new flavor...because "greed" is taking over again and I'm still believing and holding...and believing...and waiting....and whatever..!!!
I know I will probably get blasted for even making a proposal such as what I am about to make. My question is this, "is there a time when stockholders need to be proactive in trying to move the management of a company to be more transparent in communicating with their stock holders". I really don't know what rights we have, if any. We have heard for months statements from those supposedly in touch with managment, and from Les Price, that this could happen anytime, it's immiment, etc, etc. Since it is apparent that the problem does not lie with our management but with the JV partners, I think we need to be proactive, if it's even possible. I will confess I am not knowledgeable enough about these things, but I'm sure there are some who read this board that are. No one can say for certain how this will play out, but since the problems seems to be with the JV partners, we need to petition them through legal representation to set aside the NDA and come clean as to what is holding up the funding.
What I would like to know if it's possible for a coalition of stock holders to get together and engage legal counsel to petition management to request that the JV partner set aside the NDA and come forth with honest answers as to the problems they are having getting their funding to our company. So, go ahead and take you best shot because I am tired of this endless waiting and feeling helpless to do anything except wait on mangement to give us the same ole' pundits over and over. Since JJ gave the JV partners an extension, this could go on indefinitely, which by the way is what seems to be the "history" of Medinah. Are we destined to just sit on our hands and do nothing? Do we want another lesson in "history".
The koolaid doesn't work for me any longer no matter what flavor is offered.
Correction to my earlier post: "management does NOT seem to have the management skills to get the job done or do they?. Only time will answer this. Hoping and praying that this is "the" week.
Well, here we are, facing another week, hoping this is the LAST week without an announcement. Statements like, "this will be the last weekend without an announcement" did not come to fruition. It's troubling to say the least that managment does seem to have the necessary skills to get this done. Or did they give the JV partners an unended date to get their financial mess sorted out? If so, they will be under no mandate to get this tranche into our banking account within a certain amount of time. Who knows then how long they will take. They obviously have no obligation to the stockholders of Medinah.
IMO, if there is no announcement this week, no matter how much assurance comes from those who supposedly have contacts with management, the "stuckholders" are going to get very restless and ask for some explanation from management for the continued delay.
But we don't need another Q&A...we need the announcement, plain and simple. It's time!
Round..good to see you back to your "positive" self. Guess the only "meds" you need is what you get from the due dilligence you have faithfully done over the years. Your effors have certainly helped to keep me positive about Medinah and your efforts are greatly appreciated. Don't know if you can give us an insight to what makes you feel more positive but since this has gone from next week to next week, here's hoping and praying your information is right on" and that this is "THEE" week. Kudos and thanks to you my friend.
Medinah has a history of using these ambigous words! It keeps them from being painted into a corner. I appreciate all the other information, but isn't the MAIN issue the receipt of the "verified" funding. And they gave very little attention to the most important issue...the funding. Someone help me here. I thought the JV partners were going to do the mining...this sounds like Medinah is positioning themselves to do that. If so, where does that leave the JV partners..just providing the funding?
I agree Arpj...this is the last week of the last week. I don't believe any "unofficial" updates are going to quell the storm that is brewing. We need the announcement or an official update to help quell growing concerns about where this is headed.
This is the saga of the "never ending story"..it appears that it has no ending or does it? It took the Israelites "40" years to get to the "promise land". Tell me..is the "promise land" in sight? I've been hearing for weeks upon weeks that we are "almost there"...!!
Which storm are you referring to? The storm that will take place when and IF there is an announcement of the "deposit in our account or the JV announcement or the storm that going to take place if nothing conmes out this week. If management thinks that they can drag this out past Friday with no news without a storm of protest from stockholders, then they are drinking their own koolaid. We need something definitive this week! Hopefully not another Q&A.
Jack, I don't agree that there were never any JV partners and that this is a ruse. But there I do have some concerns about what could potentially take place with Medinah.
"Here is what is posted on their website:
The continuing caveat to shareholders is, and continues, that the Agreement, though signed, would “not” be deemed fully completed until the receipt of funding. Medinah Minerals, Inc. (USA) is anxiously waiting for the credible and verifiable funding to be released into the consortium accounts. ALL matters concerning Medinah Minerals (Chile) and Medinah Minerals, Inc. (USA) actions were completed to the satisfaction of the Joint Venture partners months ago. The JVA partners are queried daily with regard to anything that Medinah management can accomplish to try and expedite the funding process. The JVA partners have steadfastly stated that it is their issue(s), not Medinah’s. The JVA partners continue to reassure Medinah management that all the terms and conditions of the Joint Venture Agreement are fine, and the delay in funding is their internal matters."
The agreement though signed, would "not" be deemed fully completed until the receipt of funding.
What is stated here does seem to indicate this whole thing could still go sour if the JV partners can't resolve their issues or internal matters. From what I see posted most seem to take it for granted that the JV partners can resolve their issues. No one can guarantee that they CAN resolve their issues. And this is the part that has me concerned.
Sure they would forfeit their deposit if they walk away, but with companies of that size, sometimes those decisions are necessary.
If they walked it wouldn't be the first time, because according to some, it happened when potential JV partners had their name revealed before the announcement.
I'm sure open to what assurance or insight can be given, because I have a lot invested in this stock and I do hope and pray it happens. And yes I understand the risk in investing in "pinkee" and that there is never any guarantee and I am not looking for one but I haven't seen anyone address these concerns.
I agree with Round. Great post! I know some get frustrated with Round because he doesn't toe the company line and doesn't play to the choir, but he is asking for some reasonable accountability from management which I think is warranted at this time. I believe he has expressed very adequately what many of us are feeling. One part that he alluded to is some who post information that they and they alone seem to possess from management, relieves the company from any accoutability. I appreciate the re-assurance that comes from the "longs", but when they come out with their information, the company no longer is obligated to give us some update on where things are.
Round, I don't know if it will do any good, but thanks for trying.
I know God brought me into this stock to bless me and I'm confident it will happen and I will be able to build that training center in India.
Super: I really think you nailed it. I have speculated to those I know who are also in this stock, (and that is all that it is,) that the real logjam here is JJ. If he has an elevated, unrealistic value attached to these properties, then who knows how much longer this will go on. I don't have any intention of staying around for any more aggravation...I'm hoping that one of those super duper "rumors" will pop up again and take this to around .04 and it's adios amigos.
I would like to ask how a poster on MP can say that they are pleased at how things are going....when all I hear is there is a lock down on information coming from management. If someone is going to make those statements, how can you make that statement?, How about giving your source or is it just "speculating"....!!!!
Indy; have you been adding something extra to that "koolaid" you been drinking?" Notice you corrected your post! I believe the gun you need to get rid of that "elephant" in your house is the JV announcement...which may be closer that some think! Believe next week is going to be very interesting. Now sent over some of that "koolaid" to get me thru the weekend.
Round: not sure if this is your attempt at "humor" or "realism", but must admit that I sometimes wonder if this isn't the way this thing has played out! I HOPE NOT! I sure wish you would check with some of your "sources" and see if you can't come up with a good rumor to take this back into the 3's...!!!
I'm with you Indy..I to still believe in this project. Haven't been in this stock as long as many, but long enough for me. For what my sources say, JJ is very experienced in the mining business and is a very wealthy man. He didn't get there by being dumb. It is said that this is the last of a "world class" mine. With pronosticators predicting gold to sky rocket, some say to $5000 to to $7000 an ounce. Just speculating on my part...could JJ be just hedging on signing a JV and watching the market and trying to get the best deal he can. That would benefit all of us! If that is his goal..then count me in..I know it's frustrating but worth the wait. But sincerely hope it's not to much longer....otherwise my kids and grandkids with enjoy it!
"Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday May 20, 2010, 11:44 am
NEW YORK (AP) -- Stocks are tumbling after another drop in the euro and disappointing U.S. employment news have added to investors' already bleak view of the world economy.
The Dow Jones industrials are down more than 200 points Thursday. Interest rates are sliding in the Treasury market as investors once again seek safety in U.S. government debt.
The latest drop means the benchmark Standard & Poor's 500 index is down more than 10 percent from its 2010 trading high last month. That marks the market's first "correction," or a drop of 10 percent or more, since major indexes tumbled to 12-year lows in March last year."
We had better hope MDMN is for real because that may be the only good financial news we get in a long time.
Come on JJ...take the best offer and get on with it.
Well Round, think I need to cancel that order for that center console boat. Had hoped to take you fishing in Rockport...but appears that annoucement is not going to happen anytime soon if it stays true to it's history. But...let's play the TA, we can always turn a negative into a postive and make a lemon into some good ole' lemonade "koolaid". Anyone care for a sip?
George..is it asking to much for a "follow through"? You as much as anyone who is considered a "long" knows how management has done business. I think it's sad when we are just trying to be "proactive" with this and Rich has to stoop to making derogatory remarks about posters just to give his post some legitimacy. If the information coming out of the Q&A was so informative and adequate why did the PPS take a tumble. If he would just set aside his own self inflated opinion of himself he would find that a majority of posters on MP and here were quite upset with that last Q&A. To question our DD..what does he know about that? He's just making uninformed comments and it reveals his own ignorance. And please Rick..don't bring the name of Jesus into this.
Indy...I'm with you on this post dude. I almost hate to post on this board anything that resembles the slightest call for accountability and responsibility from management. I am not in the least a "basher' and I resent anyone throwing me in that category. But I am not going to be a "pumper" either and I am not going to cut management any slack..they don't deserve it. I will continue to call for responsible information from MDMN which they seem to feel isn't necessary. Round got me in this stock and I'm glad he did,and I think I owm more stock than he does. But I have been a business man and have negotiated many contracts worth millions of dollars. There is one thing I found out early on, if you don't keep your clients informed they are going to call you out and ask for information about how things are going. That was their right and that's my right. Like it or not.That's all I'm doing here and as a stock holder I have every right to do it and I will continue to do so until...very soon becomes....!! At least give us a "responsible update" to tell us where things are. Is that asking to much?
George..for one,I appreciate your efforts. Over on MP you mentioned that we need to hold the company accountable for their actions. How can that be accomplished except through people like you and some others who are just tired of the same ole' BS. It may not make any difference to JJ and Management what is said on these boards but it appears this is the only leverage we have.
What does it say about management when they can't even put out a decent "update" for the shareholders...and don't give me the crap about 'because we are very close"..that doesn't work for me anymore. We were very close days,weeks, years ago..!! Come on JJ, we need to hear from you!
Open..to many have already been burned on these rumors..me being one of them. I don't think to many are going to bite on rumors anymore. It's either a JV announcement or hold your position..at least that's where I am now! Some say PPS is moving above.03 this week and some say down to .025...who knows...JJ knows and he ain't talking and neither does it seem anyone else is talking.
Define interesting...as in interested in what the PPS will be after the JV announcement or interesting in the speculating on why the JV announcement is still not made. What's in store for us shareholders this week. More of the same waiting game! I can wait...the wait will be worth it!
"that crystal ball is cloudy cracked and confused....afraid if we dont get nuttin by monday morning it will be mid JUNE ."
Hand...is history repeating itself? Been down this road before. Then after mid June, then when..July, August, Sept..yada yada.
Rumors.."talks have stalled...contracts at a impasse...contracts are flying around...does management really have the ability to get this thing done? Makes me wonder, if they can't get a decent update just for the benefit of the stockholders...what's makes one think they have the ability to pull this complicated deal together. Is JJ willing to make the necessary concessions that will make it happen. No one really knows. All we can do is HOPE that history doesn't repeat itself.
Rick..I join with you on that!I fight being skeptical, and suspicious, and you can add a lot of other adjectives to that. And I have held long on this and will continue to do so, but just really tired of the same ole, same ole... hopefully there will be a good ending to this. But if Puedo is impatient..this is NOT the stock to get in. And I don't blame posters for being edgy or upset..this thing has dragged on to long. I'm a believer but for how long???? I've heard enough postulating by management..just sign the fricking contract JJ.
Tradin...thanks for the decent, respectful post to psuedo. Just because someone has been in this stock for a long time doesn't give some longs the right to "speak down" to someone who just got in and was asking a sincere answer. I hate to see some of the arrogance displayed on this board by some of the posters to those of us who are just trying to make this work for us. Hang in there Psuedo...be patient, there is a "pot of gold" at the end of this rainbow, it just seems that the end of rainbow moves everytime we get close.
Handshake, first let me thank you for taking time to post that information. I am not a "newbie"...don't really like that word, have been in this stock for over a year. Know that doesn't even compare to those of you who have been in this for "years". Non the less our investments in this stock is just as important as those "longs". Some lessons are costly... and they have been for me the last two weeks. Bought in on "rumor" and paid .0375 before the stock went down. LESSON LEARNED! Wanting to improve my position I tried to flip a few shares on Friday...got burned again, but so did a couple of friends who are much more experienced than I. But I take full responsibility for my decisions. But now...just holding and waiting..and ignorning any rumors..!!!!
Have a blessed weekend.
And you call me "ignorant". Don't think one should stoop to make personal comments like that. AND may I ask what "qualifies" you to know exactly what it takes to bring to fruition a joint venture contract. I'm still a beliver, will buy back in...when PPS gets lower, but just feel I had a right to make my point (good or bad)..regardless of what anyone thinks. As I said, I still have faith..it's just getting weaker!
"But the real truth is we as share holders need to start asking the hard questions and demanding answers."
Good luck with that! When you start demanding answers on MP the "longs" jump on you as if you are some "basher". Regardless of how long I have been in this stock, and it makes no difference. My investment is just as important as any one who has been here for multiple years. They talk about drinking the "kool aid". Well, I have had my share and I ain't drinking no more.Like others, it's time for the company to step up and quit hiding behind that NDA and give us some answers to legitimate questions.
Look at what that most informative Q,& A has done to the PPS.....glad I sold over half my position.
Sleep believe me, the company is NOT shareholder friendly. In fact, IMO, they treat the stockholders with disrepect. That last Q and A was the same ole, same ole...nada..nothing..that we haven't in some way seen before. In my opinion if you read it carefully, it is saying, just give us more time. Well, that's the history of this company. I don't post much, just like to read the post and I read them all, but my frustration with this company has reached the point where I want to put my two cents in and it may just be that. I know the "longs" on MP always jump on us who dare to "question" JJ and the rest of the group, but I don't owe JJ anything, in fact, he owes the shareholders much more that he has given us. They say they don't care what the PPS is, well, they should care, just out of respect for the shareholders.
Bought Monday on a trusted source..my fault..but no more. I'm not blaming anyone, I made the decision to get in and my hope, faith, although somewhat dimished, is still flickering.
I'm with you on this one. Need to average down, but with no one able to get in contact with Lynn, not going to risk any more mola on this one. Sure would like to see some kind of PR from the co.
Padrino: not trying to tell you how to manage your business, but just step back, take a deep breath, conjure up some patience because if no announcement comes this week, I believe if you can hold out until the first of 2010 you will be WELL rewarded. You like many here have worked real hard to keep our faith in this stock. But those I am close to and who have some reliable information (well they say it's reliable) assure me this stock is the real deal.No matter what you do, lot's of success.
Is this latest PR going to affect the PPS? Sure hope so!
Thanks Daytona and CTP...see that I have aways to go, but I appreciate you taking time give your take on this. It is appreciated.
Daytona: I don't disagree with you. To be honest, as one new to investing in stock, I don't know how to determine that a market maker is "shorting" a stock. Is this something I should just expect from all stocks. Please don't rake me over the coals for not doing my DD....and I know "don't invest more than you can afford to lose." Thanks for your help.