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from doctor "slimeball" decosta
"I still think that many look upon Medinah as either the most meticulously designed mining scam ever or a company that got luckier than all get out and just wouldn't die on schedule"
yup, 24 years of promising and never delivering, the past 4 years being no exception, it certainly is a long running mining scam.
only those that sold higher up
adl deal is delayed imminently,and first check from ore is months away.
decosta couldn't have said it better
wait a minute, he did say all that. And everyone knows decosta is a shill. Don't forget that his gut told him ulander was going to fund, reliability is not decosta's forte.
mike gold is saying shareholders should promote mdmn more
"in a lot of ways, June may have been the best month ever for Medinah Minerals the Company despite the fact that it wasn't reflected in the shareprice. It tells me that MP still has a lot of work to do to properly get the word out about our investment. "
mike gold (lp) already contradicting the update
update : "This will allow continuous "all weather" transport of ore with larger tonnage trucks starting this week.
mikegold (lp) : "FYI..don't be deceived by the term all weather road. Even if the upgraded section is considered all weather..the rest of the road network is not..and normally truck traffic will be stopped during wet conditions to avoid damaging the road."
LDM ALERT!!!
Gale force winds are blowing away the dirt at LDM! Campesino workers are struggling to cover the stockpiles with tarps, but have discovered the tarps make for great wind gliders. JJ is surveying the wind gliders from base camp, in the presence of heavy security. Meanwhile, Clarro is getting hammered at Rossario's bar and grill.
on a side note, mike gold has discovered that the MDMN PPS has nothing to do with the failed deals, but with the price of gold instead
"BE,
Your charts seems to suggest that most of the lost to Medinah's share price over the last 300 days has been due to the overall decline in the Mining sector..not due to the failed purchase agreement and various other miss steps of Management. That would make some sense as conclusion of the agreement would have been a positive but we are no worse off than we were 300 days ago..minus some more issued shares..plus the start of cash flow at the LDM.
"There are 6 contenders for the ADL. They are looking at the paperwork for the 6th right now. All 6 are competitive. There is a strong Chinese presence in the bidding." kirk
I hope they get a 7th and 8th contender, ADL is really hot right now
weather is always a good excuse to delay anything medinah
from mike gold (lp)
"Today's weather forecast check show a very wet Thursday/Friday coming up in a large area of Chile. Extremely heavy snow is expected to fall in the Andes. Something like 4 to 10" of snow could fall on our mtn top Thursday night/Friday morning time frame although it might stay as all rain."
guess they'll be fixing the roads again ROFLMAO
from mike gold (LP) in regards to ciclon payment
"The payment is late but still expected shortly. "
so it is still expected? Usually when something is expected to happen at medinah, it never does. 02's by next week if not sooner
more on doctor "brainwash" decosta
http://theminingscam.freeforums.org/dr-decosta-aka-the-dentist-nss-fearmonger-f6.html
carrot juice will move the stock
if you ask politely, decosta will squeeze you some.
read between the lines
from LP's friend mike gold :
"I should point out that we have been searching for a JV partner for the Alto for about 15 years so it probably makes some sense to contemplate what Medinah could do with cash if ..some how..some way..the JV partner remains elusive."
mark this post, there will not be any adl deal anytime soon. Wait for ulander to complicate things. 02's are up next
two weeks before the default
doctor "brainwash" decosta said his gut feeling told him ulander was going to fund, regardless of how it looked right now. Kind of like LP continuously saying "ulander has met all conditions to date" . A couple of con men keeping the longs long.
shorts? ROFLMAO
that is another decosta fabrication to sell carrots. After all, the opposite of what decosta says comes true. His gut feeling about ulander funding comes to mind.
some folks feed on carrots
after all, that's what medinah dreams are made of. You have to keep in mind that the opposite of what decosta says comes true. So when he says his gut feeling is ulander will fund, it's a given the deal will go south. Never been wrong yet, Dean
doctor "brain wash "decosta is trying to brainwash shareholders into thinking a cash dividend will happen. Mark this post, medinah will never, EVER, give out a cash dividend. Decosta is the master carrot dangler distracting folks from the obvious pump and dump that he participated in with partners A and B
"I think a lot of people are missing out on the true significance of going into production and gaining access to positive cash flow for a company like Medinah. Before a junior explorer gains access to cash flow the only method available for management to reward shareholders is through the capital gains associated with share price appreciation. In our OTC markets, however, there is no guarantee that share prices will be a good indicator of fair market value.
Upon gaining access to positive cash flow, two new options to reward shareholders present themselves and both are supportive of an unmanipulated share price discovery process. These are the ability to declare and distribute qualified cash dividends and share repurchase programs. Both of these modalities become "supercharged" when share prices are well below fair market value. The further below fair market value the shares trade at the more powerful they become. Imagine a company trading at a penny that finds itself in a position to pay out a 3-cent cash dividend. Imagine a company with a $10 million market cap but with $40 million in cash available to buy back and cancel shares. You could theoretically buy back all of your shares with one-fourth of your cash.
There is a reason why the junior explorers are the favorite prey of those making a living off of downwards share price manipulation. It has to do with the 1-in-1,000 chance of them ever becoming cash flow positive and their management teams gaining the option to reward shareholders via these other two modalities.
Yesterday we had a good discussion on the advisability of junior explorers spending money on blocking out 43-101 reserves and resources. Why would a Medinah type of company finally gain access to that 1-in-1,000 status only to spend that cash on blocking out reserves and resources. You'd gain access to those 2 other options and then lose them. Then you're stuck back in the "sitting duck" posture where the only shareholder rewards available are tied to easy to manipulate downwards share prices. If the stock were trading at $1.50 bid, sure just sell some shares and drill it on your own and keep ownership of the whole enchilada.
Rick Rule of Sprott Assets and the former boss of Brent Cook whose work citing the 1-in-1,000 chance of a junior explorer discovering an "OK" deposit and 1-in-10,000 chance of discovering a "big" deposit we read yesterday has a saying for the junior explorers "Spend the money of your JV partners on blocking out reserves. As far as your own cash, if you ever are lucky enough to gain access to cash flow toss those nickels around as if they are manhole covers!"
As far as Medinah using their cash flow from the LDM's Los Amigos #1 to drill out the Los Amigos 2-10 I would suggest it shouldn't be done for the above reasons. Why lose those other 2 options to reward shareholders? The shareholders have been through enough.
that clown decotsa is claiming that today's update legitimized medinah in the mining industry's eyes ROFLMAO
"What Medinah needed to do is first slay the "lack of credibility" dragon which because of a confluence of events had grown to immeasurable dimensions. Today's revelations pretty much took care of that from the point of view of the mining community but the investment community might need yet more proof."
market thinks it's crap as usual
One thing is for sure, the opposite of what the promoters say has always been true historically speaking. So if they are getting excited about the numbers, expect the opposite reaction from the market. And as usual, they are contradicting themselves inthe same update " the first shipment of copper ore to the San Pedro processing plant at Til Til has now been delivered." and "The north road upgrades are now completed and shipments to the Til Til plant will be underway this week."
best to play it safe and not believe a word they say.
First of all rick, I never said they had no assets, so please don't put words in my mouth. The value f those assets have yet to be proven, as even tiny deals like polo go south, never mind every adl deal that I told you would go south. Decosta's father has a right to know the truth, and I'm sure soon decosta's little sister will catch on , like may other shareholders. Decosta's dad asked why jim get's bad mouthed, decosta made up a lie. Plain and simple. As to the other part of you question, you actually bring up a great point which I have mentioned here before. The very fact that chapin and deosta have experience in their respective fields makes it that much easier for them to carry on this endless charade of promising and never delivering. Polo-down the drain, ADl-down the drain. Delivery of ore to enami,-down the drain. And where is the cash for ciclone? Promised, yet still no officially delivered. The apologists are losing their ability to defend a company that fails at every promise they make. There certainly is something else going on here rick. According to decosta, greg knew about ulanders criminal past, yet took the destined for failure deal anyways. I wonder why considering the pps rose anyways. And decosta, being so well versed in markets, had the nerve to offer that his gut told him ulander would fund merely weeks before defaulted. Why is it people with almost no experience with the markets could already tell ulander would fail, yet decosta with all his expertise got it wrong ? Because shareholders can smell a con man,and they are starting to smell decosta out,and medinah remains a scam until proven otherwise.
hey rick you got proof? " if he hasn't even talked to him since the AGM"
Hand happens to have proof dating back 16 years that decosta and les have been promoting the stock together. Literally written proof via faxes. Decosta is a slime promoter, who is very interested in geology, and the markets. Even paddydaddy has professed on this very board to having bought over ten million shares on decosta's word. Decosta is the biggest apologist for a BOD that lies about shipping to enami,and a million other things. No need to wonder why, the proof is in the pudding. Many shareholders are catching on , including Baldy.
if he is capable of lying to his father.....
the delusionists offer
"Officially the main role of Chile's ENAMI is to "promote [the country's] small and midsize mining sector by carrying out toll milling and processing and granting credit at favorable rates to companies".
This ranks ENAMI as one of the few state-owned mineral enterprises anywhere, whose mandate is to support smallscale miners, rather than compete - ------ Hopefully we are to big of an operation ( not small or midsize) but HUGE and they passed. "
sounds like decosta has brain washed a few
this was posted elsewhere
"FWIW, I have an associate that is a geo working mainly in South America and Africa. He knows I have a small position in MDMN and made some informal inquiries a couple of weeks ago. Now this is third hand stuff, but he said the LDM is indeed real, but the state mill, Enami, will not process the material"
I guess the material is substandard.
decosta even lies to his own father
but since he is a pathological liar, it is par for the course
"My dad's almost 91. He still monitors all things Medinah on the mining play periodically as well as IHUB (OOPS! Blame that on my little sister.) "Hey Jimmy, why do they say all those bad things about you on that one website?" Oh Dad, I don't know. I think they used to be patients of mine and I believe the Lidocaine wore off before the procedure was over and they still hold it against me. "You know, I figured it was something like that."
from huckleberry
aimed at decosta
Allow me to define in three brief bullet points that which you so thoroughly illustrate in your ten paragraph screed:
sophistry ('s?f?str?)
— n , pl -ries
1. a. a method of argument that is seemingly plausible though actually invalid and misleading
b. the art of using such arguments
2. subtle but unsound or fallacious reasoning
at the time of the polo deal
many were saying that now that we had a deal, it was proof medinah wasn't a scam. And since the deal went south (like they all do), we are back to scam status.
at the risk of being labeled an apologist : from Rick H
"At the risk of being labeled a "management apologist", with regard to LDM I think they are essentially flying by the seat of their pants, which should not be a surprise to anyone, but I don't mean that as critically as it comes across. By all accounts the original plan of simply sinking the shaft and accessing the high grade mineralization zone has changed dramatically...for the better. If you read back through the LDM updates, I think you have to gain an appreciation for all of the geological discoveries that have occurred beyond sinking the shaft. Along those lines, they have had to add chimneys, enlarge the safe room and dynamite room, create bypasses and so forth. It was not originally contemplated that they would need to separate the high grade gold content from newly discovered high grade copper ore. This caused some issues with what ore was going to be stockpiled and shipped where so that CMLDM could effectively monetize the ore without squandering the high grade copper byproduct while shipping gold to ENAMI. Then JJ had to grapple with the issue of shipping ore to ENAMI versus shipping it to Til Til versus waiting for the Giancarlo mill to be completed at the base of the mountain. Then throw in whatever Chilean permitting issues bubbled up as the size of the project increased. I know I'm not including a lot of other curve balls and I'm sure MDMN shareholders don't know the half of it.
So as you can see there have been a lot of unexpected issues/surprises at LDM that have delayed and otherwise detoured the path towards monetization that we shareholders have been anxiously awaiting. However, other than the unfortunately false expectations of impending ore shipments that have been communicated for the last 6 months, I do believe the company has been handling the changing dynamics of LDM relatively well all things considered. And I believe that shareholders will reap the rewards of this in due time, and sooner rather than later."
Rick you do realize that the whole idea being the carrot game is that the carrot keeps getting bigger, yet they never hand it over. AT this point shareholders are saying "oh no, they are fixing the roads, I hope they don;t make a new discovery and we have to get new permits" For all we know all this talk about new permits, new chimneys etc is a lot of BS. Just like officially stating they were shipping ore to enami next week proved to be an outright lie. Of course doctor "brain wash " decosta had to chime in: "it must be that chilean red tape" ROFLMAO
the heat is on for doctor 'shill" decosta
Is it becoming increasing clear to the shareholder base that decosta is by no means simply a shareholder. His continual excuses for the BOD,and presumptuous defence are under fire as shareholders refuse to take anymore of his BS. His latest ploy is to pretend he is among the group of frustrated shareholders and goes on to say the BOD are even more frustrated ROFLMAO "The frustration we all feel is real and that goes for management 10-fold"
Nail him to a cross Baldy, he sure as hell deserves it.
you rule benny
Baldy , you caught on decosta is a shill
who else would make up endless strings of excuses, even contradicting what LP says, just to defend absolute ineptitude, or an all out con?
Why do you think decosta never gets frustrated at the BOD's inability to deliver anything? The guy is a con artist disguised as friend of the shareholders. Nothing more disgusting than a con man disguised as a saint. And from what I'm reading, there will be no finalized deal until LDM is further developed. And they will prolong developing the ldm with excuse after excuse. Much like "shipping to enami starts next week" and then piles and piles of excuses, coming from doctor " slimeball " decosta himself. He's the only shill that can presently carry the BS and think he can get away with it. They are meeting with the 5th partner end of June ROFLMAO.
actually decosta is well respected
by some who like to perpetuate the con, by others who have fallen for it.
from rick h "This further reinforces the notion that the BOD did not exercise sufficient due diligence on Ulander upon jumping into the deal with him. Logic and prudence would dictate that if they did a thorough background check on him and found some of the skeletons in his closet that shareholders did, that the BOD would make (should have made) an extraordinary effort to meet the man in person prior to signing onto a deal that would require a 10 year or so relationship going forward. "
actually rick, decosta claims greg did know about ulanders past, but the rewards outweighed the risk. I will not bother reposting decost's thoughts on the matter, but have done so here in the past.
JUNE IS OFF THE TABLE !!!!!
"THERE IS ONLY ONE PARTY WE HAVE NOT MET AND THEY WILL BE IN CHILE THE LAST WEEK OF JUNE. "
thanks for admitting you were wrong
though I don't remember you stating it as an IMO. Lester himself has been saying soon since 16 years according to Handshake, so I guess he also believes it's a when not an if ROFLMAO.
Rick, will you admit you were wrong
when you said in regards to partner A and B that it was a when not an if the deal was funded by them? I think it is important for shareholders to know what it means when you stand by your word
Rick, we received 70 k for polo,and 1 million waiting from partner A
the excuses we have no money are simply that, excuses. Everyone knows suing partner A is a no brainer,and there are no excuses as to why we haven't sued them yet. I don't hear anyone complaining about all the cash being spent for the BOD flying to eaurope to deal with a criminal with a track record of non performance. If they can blow all this money with "post" JV trips to chile, they can certainly spend money on transparency. It is obvious money is not the issue at hand, these men obviously have much to hide.
decsta is a con artist
masquerading as one of "us shareholders" in his own words. He can fool the average shareholder, but not Bald Eagle. He loves to over complicate everything, and then patronizes shareholders telling them to quite complaining if they don't understand. There is nothing more disgusting that decosta, as he pretends to be just a shareholder, with superior knowledge. And he uses that knowledge to fool shareholders into buying millions of shares. One shareholder already admitted buying over 10 million shares based on decosta's personally promoting the stock to him. That is a hell of a lot of money to throw on a stinky pinky. Don't forget, decosta was trying to get shareholders not to sell by claiming his gut told him ulander would fund only weeks ago. and he was also saying that ulander would not have attracted such pedigree to his group if he wasn't going to be a winner. Little did we realize ulander was a criminal that did jail time. Decosta and LP have been promoting mdmn longer than any of the other promoters. Soon shareholders will realize that his feigned innocence is just an act,and he is anything but "good ol' doc" with the pathetic humour. You will notice when ever things are hitting the fan, he hits the board with his lousy jokes, trying to lighten up the room,and pretending things are all good in his books. Of course they are all good, as he long sold high up in the teens.
good job Baldy !
if it wasn't for you, that despicable dector "slime" decosta ,might actually get away with his brainwashing and insulting tactics.
some say juan was involved with money laundering
or so I read that somewhere. And let's not forget his dealings with bogdan, which apparently lead to an attmeped murder on JJ. Obviously something isn't kosher with JJ to have gotten involved
mandatory weekend brain wash reading
from doctor "blah blah blah " decosta
"I can't remember after about 35 years of investing in the mining business of there being such a vast disparity between developments on the ground of a project and both shareholder sentiment and market capitalization. Granted, shareholder sentiment is directly tied to market capitalization and both are in turn tied to credibility in both management and the property.
The two statistics that come to mind that really seem to sum up this Medinah enigma are the one constantly proffered by Rick Rule, Brent Cook, etc. that 1-in 1,000 junior explorers will ever make it all of the way into production. The second one comes from a variety of mining industry all stars especially Pierre Lassonde stating that it now takes an average of 17 years for any junior explorer fortunate enough to be one of the 1-in-1,000 to go from the commencement of exploration activities all of the way into production. Those are incredibly lousy odds and incredibly long timeframes and the risks that you knowingly or unknowingly took were incredibly high.
Hopefully we're coming upon a time in which both the credibility of management and the credibility of the deposit will be simultaneously addressed by going into production and gaining access to cash flow. This transition could be described as going from the universally disdained "there's gold in them thar hills" to "there's cash in that thar account" or "there's a dividend check in that thar mailbox".
I think we're also coming upon a time in which the credibility of management in particular will be a lot less important in the overall scheme of things. If a JV is consumated at the ADL then the big boys will no doubt nudge management to the side and their relative importance will diminish. I don't think management will fight this natural transition one bit as they have and will continue to openly admit that the scale of this project has outgrown their resources. At the end of the day it's always the property that determines the failure or success of the company. The management team of junior explorers are often looked upon as fulfilling a "caretaker" role until the big boys with superior resources arrive.
The frustration levels of the shareholders after a journey like this is very understandable when looking at the current market cap and the current share price. I still believe that a bumbling group of morons cannot "accidentally" stumble their way into that 1-in-1,000 position. There are just too many individual hurdles that each need to be cleared in order to distinguish yourself as 1 of those 1,000. These are long treacherous slogs not 100 meter dashes especially when the scale quietly (for a reason) grows from 1,363 hectares to over 15,000 hectares.
I do understand and appreciate that most shareholders do not understand what those individual hurdles were and when they were cleared. I don't think we collectively understand the SCALE of the project that management took on and the incredible odds they overcame over and above that of the typical junior explorer targeting an epithermal vein system. Don't thank management now but if they "accidentally" stumble their way into production at the LDM and "accidentally" stumble their way into a meaningful JV at the ADL and a very long series of dividends "accidentally" stumble their way into your mailboxes (if that is the wish of management and the shareholders and the cash flow permits it) then you might give them a thumbs up.
I would suggest you concentrate on the projected "mine life" of the LDM and ADL properties. For those that don't know exactly when the price of gold might break out to the upside but are fairly certain it will in the fairly near term then mine life becomes a critical factor. The anticipated mine life of a deposit like this represents an "option" to pull gold out of that mountain and be paid proportionately to the price at which gold trades at the time and over the course of that timeframe.
I think the vision we'd all like to share in the very near term is trucks full of copper ore heading to Til Til while trucks full of gold ore head to the gold mill at the same time that drill rigs are building up the reserves and resources at the ADL. Favorable results at the ADL will then enhance the value of the 30 to 37% FCI at the Los Amigos 1 and 51% ownership at the LA 2-10 while favorable results at the LDM will in turn enhance the value of the ADL and our interest there.