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It's a pump and dump, pure and simple.
Is there any rational reason for the share price and the manner in which this stock trades? This whole story is totally upside down.
As usual, more questions than answers with this bipolar stock. Let's see, buy when the fraudster gets involved, and sell when a qualified mining group takes over and starts the exploration and discovery phase of a "world class" mining property.
This makes a lot of sense. Scratching my head. I have to bite my lips and sit and wait for the results of the second offer.
The first offer to option the ADL did nothing to inspire long term confidence. Now we have the second offer for which we must wait again.
Where are the details that shareholders deserve to know in the first offer? Why does this BOD treat the shareholders with such disdain?
Their behavior is not incompetence, it is planned and has a completely sinister side to it that just simply cannot be ignored.
Even if this is a pink sheet stock, this is a publicly traded company. Any decent BOD member would have to comply even to the basic, fundamental rules of truth in disclosure rules, either implied or expressed in relationships.
What the hell is going on? Does anyone really know? It appears now each time the sp has any decent run up, there is selling into the strength.
With over a billion in shares outstanding, where is the value we were seeking? It is obvious that traders are clueless or know something. Which is it?
in exchange for generous shares to JJ & Son.
Never in the history of Medinah speak has there been such professional and transparent dissemination of reports of activities as we are now being treated to by Auryn.
I only remain here to see this venture to its short term and if conditions are right, possibly long term conclusion because we are finally aligned with capable partners who are used to doing things right the first time.
All of our early prognostications, conjectures, projections of these early drill results are just that. We should not have been so patient in the past, and IMHO, we should now be patient.
We are partially out of the jaws of the BOD. That is a good thing.
Regardless of the outcome of the final buy out for ADL and LDM/NUOCO plus all the other claims, this penny stock manipulation has gone on too long and for the benefit of too few, mainly insiders.
I congratulate all those who were nimble and traded this stock in and out during this process. While not too many out there can hit bottoms and tops to a perfection, but close enough trades to the tops and bottoms has yielded handsome profits to many a stock holder, and of course our illustrious insiders.
I want to go on record with the BOD that my services are hereby offered to Medinah as agent domiciled in Nevada for one tenth of the fees they paid out to Chapin.
One more thing, no one and I don't know of anyone out there who has ever called their bank and complained or had guilty pangs for having too much money in their account. No one has ever called their bank and told them to return some of their money as they felt there was just too much in the account.
This analogy applies to anyone member or all the members of the board who have made attempts at fooling the shareholders into believing that they returned shares or just simply gave up anything of value if the returns for them would not be many fold what they were giving up. So much for returning millions of shares by Chapin. His bs over the years to close friends who have been the distributor of all the pump news to shareholders is enough to make me puke. I will stop here as it boils my blood to think back at some of the ill advised news he was passing out.
Yes, take me up on it. I will be your agent for 1/10th of what you are now paying. What a scam.
So in other words, there could be several final, final, finals until we hit bottom again, which could be sub $0.04 even. Right?
Abz, really, if we stop "feeling" and simply trade as the smart ones did, buying at bottoms and selling at tops, while waiting out for the pot of gold at the end of the rainbow, we (those sh who did not), would have fared much better. Right?
Feelings never were a good method to use in investing. That's the point here.
i gota feeling this is the final shake holding and adding at this level
DESCARGAR
Rick,
$100M does not do a whole lot when spread over 1.3B (approx)shares. One might understandably argue that at the current share price, distribution of the entire $100M as cash dividend will more than double the investment. On that rationale, on the face of it, it would make for a great story, were it not for the fact that many shareholders are in this stock with average prices of near or north of $0.10 and have been waiting for payday for some time, some for a decade or more.
I think before the BOD decides on a cash dividend, they should hire a consultant to study the best options and not burn through that chunk. The decision should not be made by this BOD in the usual and customary Medinah fashion. We needs good heads to see what our options are to enhance shareholder value.
Auryn will buy out MDMN prior to paying the $100 million option.
Wait a few more days and you'll see 31% off. Those in the know are dumping as much as they can so far today.
Where are the buys from the AURYN camp?
Speculating and making assumptions on the value of these properties has proven pointless as most share holders currently have no idea.
Experienced operators with a successful history in mining are at the trough. There must be a reason beyond $0.15 per share and rabbit hunting they have parked their campers on the Chilean plateau.
We have waited this long, and many have been here much longer than I. It's worth seeing this whole story unfold.
Lett's just wait and see. Pun intended.
As a contrarian, I like your attitude. I hope everyone capitulates and provides a great entry point in the low $0.03 range.
Then I would load up on your stock that you'll sell to me to watch it go back up to $0.10 level, SELL and get the hell out of this idiotic stock and never look back with regret.
I may buy again, but that would be after there is some evidence of life in this company, (1) proved up resources, and (2)transparency. Two items sorely missing on this freight train. You might say it will be too late by then. I'll take my chances.
I think it will take loads of time to get to that point where we know what this asset is worth. Right now, we have a rag tag bunch of wannabes who aren't all that straight with shareholders.
Enough said.
Where's Ulander when you need him. He did more for the sp than the AURYN insiders.
If the Auryn insiders are buying shares on the open market, where is the volume?
Yesterday's was a slight bump from the previous weeks of daily trading volume, but there seems to be no indication so far there is a demand for shares on the open market. Lackluster is the word.
Of course, this is the way to accumulate, quiet, slow and easy. Why in easy math, over a period of 100 trading days, at this rate, Letts et al can accumulate a nice chunk of MDMN shares, perhaps upwards of 100M shares?
Mystery stock, mystery operators, mysterious events.
Lett's see who wins in the end. Pun intended.
There was a popular folk song that we don't hear too often these days, but nevertheless it is still a timeless song. As I saw the close of day chart today, I could not help but sing the tune.
"If I had a hammer...". Well we have a hammer. Let's see if the reversal of the downward trend is confirmed in act 2, act one being the downward trend of late.
Following the execution of the Auryn agreement, I don't think there is any shareholder of MDMN who thought the sp would slide to this level.
The drill/assay results are still a ways away. Certainly, the initial results will only be an indication, but the full scope of the drill results are quite a ways out there.
So it would be folly to think that we can accept the results of the initial drill results and extrapolate from those results any meaningful numbers to either hold or sell.
The value of this property will be determined at some future point, certainly some time in latter part of 2015, or even longer.
Obviously there are traders out there who have bought, (assumption on my part) at levels below these, who are happy with a 100% plus flip. Other than that, I don't understand the sells at these levels.
I would think these flippers are also ready to pounce on this stock at higher levels when finally the true value of this company is commensurate to the anticipated, projected and hoped for drill results at some future date.
If anyone out there has an answer as to this insane selling, I would like to know. I think for those who are willing to take calculated risks, this is a perfect opportunity to take major positions, rather than selling.
Perplexed, as usual with this stock.
Drill baby drill...One may think I've lost it, but I do believe I will hear the sound of those drills even as far up the northern hemisphere as I may be, as the drills rotate. It will be music to my ears.
Yes this will be twist in the age old anecdote, if the drills are turning, and nobody but the drill operators are there at ADL, will the shareholders hear the sound of those rigs? The answer most assuredly is YES!
Drill baby drill!
Yes. There should be no mystery as to who could be one of those someones who is buying. Let's see, could it be the Auryn insiders? I wonder.
Interesting that the price is kept at this level to accommodate the accumulation. I'm not suggesting any conspiracy here between mm et al, just noting that the price has dropped after the announcement of the Auryn's announced intent to purchase MDMN shares on the open market.
One would ordinarily think the sp would improve upon such an announcement. But then this is Medinah.
Beth, just my droll sense of humor. We'll be very fortunate to have any substantive results by year end.
I don't see anything much more than the usual updates for some time, perhaps even to the end of first Q 2015.
One drill, possibly another one to follow? Not exactly a $10M drill and exploration program. But, we don't know the details, so I will not opine on this really. Let's wait and see.
If I bet, I'd lose. No bets.
The second truck could also be a Roach Coach. Hey, those two employees busily drilling need to eat. Right?
They're on a performance pay for their daily drilling depth. They are motivated to drill as fast and as deep as possible each and every Chilean day. So Beth, not to worry, they will meet or beat your December deadline.
Turkey or gold for November?
I concede. Chapin manufactured those updates, but JJ wholeheartedly endorsed them by affixing his signature.
Bottom line, we are not here for the low hanging fruit. At this point it is impossible to place a valuation on MDMN as we have no idea of the extent of the resources.
Be careful what you ask for, it may come true. While we are shareholders, in a pink sheet co, we might as well be as outsiders looking in. No shareholder, to my knowledge, the BOD excluded, has flexed enough muscle to bring about any meaningful change in the company operations.
Now that this co seems to be set up on the path to unlock the value by those in the know, in every respect it appears to us the process to do just that as a fait a complis.
We are just at the beginning stages of exploration of what could be a total flop, or discover deposits and reserves not sufficient to be worthy of further exploration on the scale necessary to warrant the current or appreciably, substantially higher valuation, or at best, off the charts findings that give us a valuation reaching the $1.00 mark per share. Although this is the reason I am still here, It is likely we may never achieve this high a value.
I do see a challenging few years ahead of us. I doubt most invested here to sell at $0.15 to $0.25. I think most looked and are still looking forward to the pot of gold at the end of the rainbow. That may be terribly far in the future, or may never occur, or we may be fortunate enough to have this current team discover one of the greatest deposits of AU, AG and CU and rare earth minerals in modern mining history. The latter has to be the case if we as current shareholders will be rewarded in any substantive way.
As to JJ, I wish him all the best, thank you, good bye and thanks for the memories. Only the future will be your judge of how well you performed for the shareholder. One more thing JJ, please do not take wooden nickels from Sweedish meat ball packers.
Much of our future will be dull without those insightful shareholder updates that would cause us to scratch our heads and ask "did I really read this right"? Perhaps Jimmy Fallon could use your skills in writing some of the funniest stuff ever. We can look forward to dry and matter of fact reports of discoveries, geo reports, assays, shipped ore, $$$ received. Just plain old mining operating results. The fun is over, it's time to do or die.
Nothing else has moved this needle in a while. Perhaps this seismic event will be the catalyst to extract the valuable metals and minerals before the earth swallows them up.
I can just visualize our next company update. "Dear loyal shareholders of MDMN. We know you've been waiting for a long long time for some great news. Well, we have good news and bad news. First the good news. Our exploration of the ADL has been launched and it is way ahead of schedule. Our assay reports and NI 403 report is completed and we were just about to begin extracting gold, copper and silver, when this quake hit. We discovered reserves of hundred billion grams of gold, two hundred billion grams of silver and ten trillion grams of copper reserves. That's the good news. Now for the bad news. The quake split up the earth at ADL and sunk all our treasure so deep into the earth that it is now economically not feasible to mine this property. So regrettably we are abandoning the ADL and will now focus our exploration activities on the LDM.
As my late great grandfather used to say when the earth shook in Santiago, "I khate when that Khappen". Don't you?
But don't you worry your precious golden head one bit. It will only take 15 years to for us to find another partner to mine the LDM. You know how they say, "time flies fast when you're having fun with your shareholders".
Ahhh! Such is the life of one with gold fever!
Abz, nothing has been sunk yet. Well, let's be transparent. In the aggregate, we have all sunk quite a lot this stock. But that's a discussion for another day.
For now, we don't know exactly what has been sunk by AURYN in coming to this determination to option this venture and we may never know. So as I read the update, the initial expense will be in the $3M range with the total for this exploration phase pegged at $10M. The total exploration cost could possibly be more or less, depending on their findings.
I imagine if the results are not encouraging, AURYN has the right to stop and pull their men and equipment off the mountain and head back to Peru. In my opinion, I don't think that is a high probability. But that's my opinion. You can take my opinion plus ten Chilean Pesos and that may not get you a bottle of Perrier in Santiago.
I appreciate your enthusiasm, but let's curb our expectations and wait for something to cheer about. Yes, these last few weeks, months and the past year have been rather favorable both for the Medinah's move forward and finally, after the sp tanked, recent turn around. But we are not out of the woods, yet. That said, INMHO this is the best time to throw money at this stock as one who does, is betting with the masters, the Letts et al.
I would love to see what RD759 has to say about the latest shareholder update. I hope he does offer his comments as I have requested.
RD759...Would you be so kind as to comment on the salient points of the latest shareholder update? TIA
I look forward to the subsequent announcements, this being the first of several substantive announcements to come with respect to the exploration phase.
It's about time as shareholders we are treated as adults. This update is unlike any previous notices where every anticipated step yet to be undertaken was qualified to the hilt. We have an action plan that will be adhered to by our capable, capital partners.
We are on our way to explore, discover, prove up and (hopefully) be the beneficiaries of the abundance of metals and minerals in those hills.
Cautiously optimistic.
Before everyone gets too far ahead of themselves regarding the news of AURYN'S notice to buy shares on the open market, I believe, as I posted earlier, they have been buying in the open market.
Moreover, I don't think this news will be the major catalyst for the sp to pop too high. I see a nice bounce from these levels in the short term, perhaps we might see as high as $0.12 to $0.16 range if we have high volume days, but the news we will now need is the reveal of the the planned drilling and exploration and results therefrom. If the results are off the charts, then we're up in blue sky territory.
An off the charts NI 403 101 report is absolutely critical for the valuation of MDMN. Conversely, if the NI 403 101 report is less than expectations, then we may be in for a deep slide from the highs.
Clearly, with the successful NI 403 report, there will be a spill over effect on to the LDM and other properties that Medinah controls. A strong NI 403 101 report on the ADL will add a confidence level in the management by the markets. The rational would be that if the management JJ, et al are able to judiciously amass the type of claims as the ADL, then one could easily make the inference that these guys know what their doing, and the locked up value of the LDM and other claims will be wide opened, even if by speculators who don' t want to miss out on the LDM and other claims, if they were not on board during the LDM agreement.
Pending a strong NI 403 101 report to make the real bank.
http://medinah-minerals.com/shareholder.html How much more prophetic can I be, in my UMBLE opinion...read my earlier post today. Seriously folks, I hit it right on the nail.
FWIW...this is my opinion and it is pure speculation and solely based on my experience.
I believe some of, perhaps the bulk of, these large block purchases over the past few months are either by the insiders at AURYN or affiliated persons.
If I optioned a property, I would only do so after I have a high degree of assurance that there is a real upside. That with a backdrop, I will do everything in my capability to ensure my upside is achieved at the lowest possible risk with the highest possible outcome. That would lead me to take calculated risks to achieve my desired goal.
I would be buying as much of the common shares now as I could at these levels being cautious not to drive the price too high, all the while accumulating as much as I could.
Rick,agreed on today's release not a significant news to move this needle one or the other way too dramatically.
However, I am still perplexed as to the end of day sharp selling on the news.
Makes zero sense to me. In light of the run up yesterday and the trading for most of the day, I just don't see what merits this sharp decline.
Of course one could have taken the same position on yesterday's stock action.
We now await the results of the drill/exploration to see if we have something to celebrate.
It looks like we are sliding some more on Monday. Let's see if it stabilizes on Monday and next week or two holds this pattern until we get the drill plan from AURYN.
The dilution clause in the agreement is accretive to the buyer, and is a deal breaker and serious breach of a buy/sell agreement. So, the asset value does not erode over a period by the seller.
The old adage, "buy on the rumor, sell on the news", applies even to pink sheet stocks.
Without it, AURYN has nothing. Without NI 403-101 we are treading water just like we have for years. Without it, AURYN cannot raise the hundreds of millions it will require to mine that mountain once and for all.
With it, if the report supports all the previously conducted non industry accepted results, that really meant not much in the category of "yes, I will put up money to explore and drill this claim", then AURYN will be in a position to attract the capital and either fully mine the metals and minerals, or will take it to a level that will attract, if exploration results warrant, a jumbo size miner.
That's all.
The trading action of this stock is surprisingly orderly relative to other pink sheet stocks.
Whether it is being walked up or down, it seems to trade more in line with more established, big board listed companies.
You'd think the mm would take advantage of the quick absorption of the big blocks and create a wider spread, as is so often the case in pink sheet stocks. I was amazed at the relatively slow and upward bias of trading today.
And, it's true of the downward slide as well. When the stock begins its downward walk, it is likewise done in an orderly fashion, giving traders the opportunity to get out without facing a huge slippage in price.
Today's volume was also a welcomed interesting as there is nothing really new to warrant a huge interest. One would have thought those who wanted in would have locked and loaded their shares during the days of the pending agreement.
If these buyers are old foxes, then that makes sense. If they know something we don't and are buying in spurts not to attract too much attention. This could be an accumulation effort on the part of several parties who are aware of things to come, i.e. exploration plans, and potential data from such exploration may possibly be off the charts. So they are putting up risk money on the bet that this will be worth multiples of $0.10 in the near future, meaning within a year or so.
Whatever the reason, this action yesterday and then the follow through today, and possible follow through tomorrow to a new 52 week high, with strong volume, will be even more welcome.
We await..."next week".
I tried to cut and paste the data, and did not have much success. If you trade on scottrade, please go to the charts and enter your search parameter for five years, weekly charts. Then use the cross hairs to line up to theweek of January 10. You should have the same data for the intraday trading.
I used the chart on TD Ameritrade. Sorry, I wish I was a bit more tech savvy.
I don't think you'll have much of a disagreement from anyone on your last point. No sane person will look at the nineteen cent level as a base. It was merely the intraday high that we have not seen since.
MDMN Weekly chart January 10, 2011, open $0.1765, intraday high $0.19, intraday low $0.1385 closed $0.1629.
Should have sold MDMN then and deployed these parked static funds for the past three +/- years, into LNG, where I had and still have a strong position. Just would have had terrific results, instead of the frustrating time we've endured for all this time.
You are correct. Excess is the word used in the news release, but my interpretation is multiples of that amount based on the historical, not necessarily proven, but previous reports of what potential reserves might be hidden in those rocks.
I don't see a mere $100M or just over that number as an amount that could support such suppositions as have been historically proffered by AC Howe and others upon reliance on whose report, I am almost certain, originally brought this group of would be gold miners (referring to Les, JJ, Chapin and others) to pursue these claims on the ADL. Experts who have offered their opinion of the costs of exploration of "world class" properties today have given hints of what the real costs of exploration and discovery could be. If my memory serves me right, one such expert suggested those costs would necessarily be in the realm of my estimates.
So in other words, if in fact these previous historical reports have even a partial degree of accuracy, based on modern day costs of exploration, in my humble opinion, it will most likely require multiples of $100M to fully discover what lies in the belly of the beast, we affectionately call ADL.
A scenario referred to by a poster is also possible where after spending a sum to prove the reserves with industry accepted reports, this group may in fact bring in even bigger fish to join and complete the exploration, or as is sometimes the case, the option holder may stop spending time and energy on the exploration after hitting gigantic milestones, and simply trade their option to a bigger fish.
Given certain set of circumstances, it may well be in the best interest of Auryn, once an industry accepted generated report confirms a "world class" deposit of poly metals, and those reports show a high enough potential reserves for a major miner to be interested, then why not take your profits, sell the option to the bigger fish and run, not walk, down that mountain to the bank.
That of course would be comfortably quite a ways down the road, perhaps as long as one, two or three years from now. I am simply guessing at the above. No one relies on my "expertise" to plunk down their yankee dollars on this penny stock. So, I stand in position as all of you. We wait for results that are finally possible with this group of experts who apparently have committed their resources to this project. That says quite a lot, a lot more than ever before in Medinah's sordid history. Now let's see if the Letts family comes through.
I don't know what implications or ramifications the $3M penalty has on both parties. I think this is a boiler plate clause that every high value contract should have. So, it seems, both parties and their respective attorneys have agreed this poultry sum is simply a symbol of good faith on the part of those entering into this agreement.
The part I don't really get is the term "enforceable" they used with respect to the $3M penalty. What in the world does that mean. If one agrees to pay a penalty for non performance, then that legally drafted, mutually drafted agreement to pay a penalty is enforceable in a court of law, should it go that far. So, do they mean each party will deposit in escrow a valuable security or securities, or provide a bond up front, or pledge an asset that will be held by a third party neutral to both, who without further instruction, upon default of one or the other party, is to release the $3M to the damaged party? I don't know how that penalty is to be enforced, if one side invokes that right under the agreement.
What's your interpretation? Thanks in advance.
Optioning a property/project of this magnitude is a serious commitment, one that is not for the faint of heart
Briefly, let me explain. Most understand the principle of how an option works. For those who are still posting ridiculous questions on the boards as to the details not coming forth, let me enlighten you a bit.
So, below is the definition of an option agreement.
An options contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell a particular asset at a later date at an agreed upon price.
So, with an options contract, the seller receives valuable consideration from the buyer of the contract.
We are not clear on what value Medinah receives with this option. But we have been told in a company news release that the cost of exploration of the ADL claims will amount to multiples of the $100M Auryn will be paying Medinah Chile when Auryn and or its subsidiary exercises its option to purchase 85% of ADL claims from Medinah.
So, if this information is to be relied upon as real, we are looking at a long term commitment, up to three years, to explore these claims, with hard dollars being spent along the way, as the news release states, many times more than the $100M being paid for 85% ownership of the claims.
If we assign a rough dollar number of even $150M to be spent on future exploration, and if the exploration proves up the reserves, adding the cost of exploration, plus the purchase price, plus any option money,(if any is paid throughout the option contract period)Auryn will have spent a minimum of $250M on the combined exploration and purchase of 85% of ADL.
Here is a question: When they state that the exploration will cost many multiples of the $100M Auryn is paying for 85% of ADL, is that cost of exploration being referred to for the life of the mining operation or is it in reference to only the three years of the option period? Not sure. If the reference for multiples of the $100M being spent for the cost of exploration is only for the duration of the option period of three years, then this commitment from Auryn is really a game only played by the big boys. Again, it is not for the faint of heart.
So by the time the option is exercised, my guess is that at least $250M, perhaps much more, will have been spent on this acquisition. That portends for a very valuable and lucrative mining operation for the foreseeable future on the ADL plateau.
I don't see smart investors throwing around this kind of money just to double or triple their investment, or worse yet, just walking into this venture with their eyes closed. This investment on Auryn's part could be a huge windfall, to the tune of multiples of billions of dollars, perhaps tens of billions of dollars of revenue over an extended period of time. Only time will tell. And the clock is now ticking.
Of course, it could also be a flop and Auryn could as well run out of ADL with its tail between its legs and never look back. But I highly doubt that will be the case. Based on previous reports, this group has had its experts, boots on the ground, on the ADL performing its due diligence for some time now. So based on what its experts have come up with so far, that Auryn has enough confidence to move forward with its plans to spend good money on the ADL plains, and then pay $100M for 85% ownership, I feel this is a huge positive step forward.
Would that this partnership had started a few years ago, instead of teaming up with the Sweedish meat ball. The only thing the Sweedish meat ball gave us was heartburn and lots of indigestion. Maalox anyone?
That is if the option is ever exercised.
It's great for Chapin, JJ et. al. With almost one billion shares outstanding, and no hint of any profit participation, just a payment of $100M for entire enhilada, of which 85% is Medinah's and 15% Medinah Chile?
If there is a participation, why would we not be told now? What in the world is the full agreement?
Frustrating!
Interestingly, I did post, I think it was last week, a scenario where this agreement could be led by affiliated persons to the Letts family, who are considered experts, and not a formal, currently operating group. It's just the way they worded the announcement that gave me the heads up.
How prophetic. This is like a pick up band. Let's get everyone in this room who is good at playing the guitar, the keyboard, horns and string instruments, and let's form a band.
If this is the best we can do, then this is the best we can do. If I am not mistaken, does this mean a valuation of $85M, on an undiluted basis, give or take a few hundred thousand Chilean Pesos?
Translation, three years from now, we might see our sp, if not diluted, at approximately $0.085?
Boy, great deal for us stuck holders. I shouldn't jump the gun nor ship yet? Details to be forthcoming soon?
So Medinah's ownership of the other claims has what value? I am thinking of course of the LDM and the other fractions of ownership in other claims.
Anyone who knows, please elucidate.
Thanks in advance.