The SP does not make a difference until after the announcement. And the drop does makes perfect sense if you believe that there is a HUGE short position out there. The shorts will continue to short until the SP get to a > .20 to .30 price. They have to, they have to protect their positions.

Remember, the SP means nothing at this point, just like at .15 or .17. They are fishing for the stop outs and finding some meat. We have just left the gate, the fininsh line is still a ways off. The announcement today is telling you this. Take a week off and lets talk mid month.

If You're IN, You're IN

And Their Out of the Gates heading to the first turn.

I said the horses are at the gate. The're just waiting on the bell. The close today is like everyday when they post the last sale to bring the price back down. Today's SP means nothing.

The time for questioning this deal is coming to a close.

Sweet. The horses are at the gate.

Last post for the weekend.

When the deal is announced, no matter what the terms, the stock will move up to about .30. (that would be a 210 milion market cap) If the deal is as big as many expect, it will move up above this amount quickly. Understanding that the corner has been turn, there is no going back, a deal will be closed.

The original money in escrow will either be released or earned and funds will be made available for the drilling program through either a JV or a financing program. That is a certain, the timimg is the only unresoved issue and each day we get closer to a big day for MDMN shareholders.

Explain how they can't do a deal, why they would not do a deal, the benefit of not doing a deal. Any potential upside is greater with a deal. JJ and the other insiders makes no money If the stock drops back to .01. A deal gets done.

You can bank on that. IF you're in, Your're in.

PS.... the share price is meaningless.

The amount of money needed is nothing. Lets call it 5 million. That is less than the value of 50 million shares of MDMN or 7% of the Company. We are not negotiating a buy-out. We are negotiating a funding for a drilling program. That is why all the information we have is based on the Company retaining the operational control of the next stage.

The big money is down the road after the drilling program proves out the asset.

Understand the natural progression of the delevopment and you will understand where we are in the process.

A Deal is a Deal.

A deal is done, what that deal is, we still do not know. What you can bank on is that there will be some amount of money that will kick start a drilling program that will either prove or disprove the value of the mountain. If you understand what you own in MDMN stock, then that should be sufficient to continue to hold the shares for whatever length of time it takes.

The information that I have reviewed from many sources and media, suggests that the shareholders will like the deal, but without the details, we will have to wait and see.

However to my thinking the bottom line is that based on the current price of the underlying metals, the desire of the Chilean Govt to open up exploration in the Santiago geo are to Jr miners, the relative minimial amount of funds required to take the next step in developing the mountain and public statements already made by the management of the Company, A deal will be finalized.

Lets face it, anyone could find a couple of million in funds to take the next step without giving away the farm.

(Note to Management - If you want me to find you some funds, let me know. It would take me about a week to structure the JV and raise enough money to do the drilling program.)

The naysayers in this stock wants you to beleive that there is no money out their that would fund a drilling program. In Texas we raise millions everyday to find oil with less DD than we have in this property.

Don't be scared off, a deal will happen. You can count the number of days or weeks on one hand.

The more they tell you to sell, the greater the possibility that we are near the next move up. This is the greatest gathering of the unwashed I have seen in years. My hope for a conclusion of the JV funding increases with every passing day.

The things holding us back have been resolved, the short term share price means nothing. The day of retribution is upon us.

Oh ya, IMO If You'r IN, You'r In.

Have a great weekend everyone. The days of the unwashed are nearing the end. The shareholders of MDMN will finally feel vindicated and reap their just rewards for the very long and stressful wait.

The speed of this deal is moving quickly now and the planning for attacking the mountain have been studied and refined during the stay which will result in quick action after the funding.

So it is said, so it will be done.

An LLC is a state designation and not a federally recognized entity. Each state has separate rules that govern the legal aspects of an LLC, including reporting and taxation for state purposes.

For federal purposes, the government prescribes that an LLC is taxed by default as a partnership under the IRC that governs such, however, an LLC can elect in writing to be treated as a corporation if it chooses (and thus can elect sub-s treatment if the ownership requirements are met for sub-s corps).

For federal purposes, a single member LLC is disregarded for federal tax purposes unless the corporate election is made for the reason you sight. ie you can't have a partnership with only one partner, so if not a corporation then by default it is a sole proprietorship.

Because an LLC is a state designation, reporting of the ownership varies by state.

Had the time, thought I would throw my knowledge in if it helps. I know you did not ask for it.

All the individuals working for the benefit of MDMN do so without cash compensation. Additionally, some of these individuals incur out of pocket expenses. They probably receive shares, that they are required to pay taxes on at the date they receive the shares and must sell a portion of these shares to cover the taxes.

This is not unusual and happens in many companies every day. It also does not reflect on their view of the Company or their expected change in SP in the long term. It is just what is required to pay the bills and Uncle Sam.

If you see a Board member selling 10 + million in shares at a pop let me know.

The last event has been finalized.

The day is upon us. If I am right, look for a major move this week and events to unfold quickly thereafter.

What the heck are you all talking about.

We only traded 200,000 shares.

Let go over the rules:

1. low volume SP will fall
2. high volume SP will climb
3. SP does not matter in the long term because

4. On the date that the funds have landed, is announced the SP will climb quickly.

This is the right place, at the right time.

If you are unsure of the investment or the timing, you should take all your money and move on to greener fields. Nothing that is written on this board will change the fact that you are not in control of the events.

We are all swinging for the fence here. Over the years I have seen billions lost in stocks like Enron, and so called fully reporting NYSE stocks, millions in oil and gas JVs and millions in playing the forex. This is no different. The game is stacked against the individual investor and there are no guarantees.

So you take a little money and swing away, your smart money is in more conservative investments hopefully.

Time is coming short for this to go or no go. You have to ask yourself it you want a chance at the plate or you just want to watch the game.

If it comes, IT will get here when it gets here. So..... you can be upset that this deal is not meeting your time table and post your frustration on a mindless web page, you can sell and sit on the sidelines until it happens, or you can sit on your position and play out the string.

Each of these solutions will not change the time table of the funds delivery or the JV terms and conditions. I can only assume you have a better place to put your money right now. Good for you.

This appears to me to be the perfect storm,

1. A Chilean Gov't that is promoting JR. mining.
2. A Chilean Gov't interested in investment in the central part of the country.
3. Gold and Silver prices going through the roof because of a failing world wild monetary system.
4. An possible mountain of minerals that meet number 1 and 2 above and becomes more economically viable based on three.
5. A stock investment (all be it a pinkie) that is priced at $.11 per share that gives you a strong possibility of an upside if for no other reason then the dollar falls, commodities rise and our stock SP is based on the posssible existance of that commodity.
6. A greater than 50% owner that has all the money in the world he needs, is over 60 years of age, has staked his reputation on the underlying asset, and will not sell the asset or the company down the river for less than it is worth.
7. A management team that knows the industry and will drive the SP in defense of those that have shorted the shares upon completion of the JV funding.
8. Adequate DD available for those that want to understand the investment and risk their capital.

What more can you ask for in this type of play. In a pink stock. In a 12+ year company that will sink or swim on the success of this deal. The number of days do not matter. It is a go or no go, win or lose, bet from here on out.

So park your long term play money here, sell your short term holdings, have a cold one, watch a good movie or two, pray where not at the end of times, visit with your family and friends, laugh a little, dance a little, drink a little and enjoy life.

Your bouncing off the walls, this way and that, cannot be good for your health.

S & P projecting possible downgrade of US AAA debt. Time to buy gold, silver or gold stocks. The value is going to continue to rise. MDMN should benefit somewhat from this situation. The JV gets more valuable every day. Time is on our side.

That is what the brass ring is.

The brass ring is the hardest and fewest opportunty on the carosel of life. You don't find the brass ring investing in large cap stocks. You win it Vegas or buying a lotto ticket or taking a chance, when everything and everybody else tells you, you are playing the suckers game.

It taking that job on the hope that the company survives, it accepting that blind date and hoping its your soul mate. You don't find these type of opportunities by playing it safe or smart. That's why I say invest what you can afford to lose, whether monitarily or emmotionally.

What you have to ask yourself, is there enough of a possibility that the ride your on still has a change to produce that brass ring. I think this one still does. It is not a guarrantee but like I said, the ones that are a sure thing never have the life changing rewards.

Some here do not believe, that is their Choice, but post day after day to get you to sell your shares for your own good. A higher calling they must have. But if we are responsible for our own choices in life, you understand the risk, the history, the market, management, the property, and you risk what we can afford to lose, then, you are living our own life and need little assistance from faceless posters, for or against this play.

Don't be in a hurry to sell.

The wait is nothing when you think of the upside. Even if you assume the worst and your .10 shares go to .30, show me another investment with that potential. (some think this is way low)

Yes your investment could go to .03 also, that is what high risk investments mean. There are no guarrantees in life, but me thinks, this is a better bet than the lottery, Vegas, even the NYSE stocks in a time when the goverment prints money like coupons and they spend our money without concern of the effort it take to earn a living wage.

I believe everyone get a couple chances at the brass ring in their life time, Where a $10,000 bet can earn you $20,000 or $100,000. These moments in time are lost to the impatient, the naysayers, and those that demand more, than what life will give them or that is due them.

IF this is one of those chances, then one month, one year, one decade is not to much time to wait. Those that understand that the things that we do, the things that we share, and the people we love, it what life is all about, will enjoy the trip as much as the destination.

Invest what you can afford to lose, take responciblitiy for your own actions and decisions, do your own reearch and enjoy the trip.
win or lose, it is what makes life an experience.

And remember, all those that tell you they have your best interest in mind, usually have someone elses in theirs. Take responcibility for your own decisions. Buy or sell based on your own tolerance for risk.

Me thinks somebody sold and wants back in.

I am amazed that you come out with your analysis 50 minutes from open with less than 200000 shares traded. If the Florida group decides to liquidate their holdings, there is no floor for the SP. And the theory that the MM are now propping up the SP makes we wonder about the many post you have made over the years.

The SP will be walked down on low volume, that is just the reality of it. The SP will run up on additional good news and run down on the negative comments of posters in absence of any other information. Just my opinion.

For every seller there is a buyer.

Counting the short sales there are more buyers then sellers.

We traded at .02 six months ago.

I think there are alot of smart people invested in this stock and alot of smart people that don't buy pinkies. This is not a slam dunk, this is high risk, high return investment. To paint it differently, as if it was a regular stock play, only plays to the dumb, the scared, the weak.

Maybe those are the ones you are referring to, in which case I agree. They should not be in this play.

Post two of the three I get.

No Volume, Just the Flippers.

Same story, same game. They walk it down on low volume. Let them. There is 700 million shares outstanding. Let's say 300 million in float. Do you realy think that if we trade less than 1% (3 million) that it means anything.

If we have a NSS situation, and the shares outstanding include 500 million in air shares, then 3 million shares represents .00375 % of the shares. Time to get real. Nobody of any consequence is selling their share. Just the weak and the scared.

Enough said.

IMHO, this deal involves multiple parties with various levels of contibution, risk and equity.

We have been told that we are still waiting for the first tranche of funding to be deposited before the JV is finalized. the definition of tranche is:

Per Wiki, In structured finance, a tranche (often misspelled as traunch or traunche) is one of a number of related securities offered as part of the same transaction. The word tranche is French for slice, section, series, or portion, and is cognate to English trench ('ditch'). In the financial sense of the word, each bond is a different slice of the deal's risk. Transaction documentation (see indenture) usually defines the tranches as different "classes" of notes, each identified by letter (e.g. the Class A, Class B, Class C securities) with different bond credit ratings (ratings).

The term "tranche" is used in fields of finance other than structured finance (such as in straight lending, where "multi-tranche loans" are commonplace), but the term's use in structured finance may be singled out as particularly important.

Tranching can add complexity to deals. Beyond the challenges posed by estimation of the asset pool's loss distribution, tranching requires detailed, deal-specific documentation to ensure that the desired characteristics, such as the seniority ordering the various tranches, will be delivered under all plausible scenarios. In addition, complexity may be further increased by the need to account for the involvement of asset managers and other third parties, whose own incentives to act in the interest of some investor classes at the expense of others may need to be balanced.

If we think out of the box to a complexity involving multiple parties, with different degrees of risk and reward in a multi national capital structure, we will start IMHO, to understand where this thing is going.

If you think about You investing in a business, you have a few options on how you structure the deal. 1. Stock or other equity intstrument 2. Debt 3. Participation Interest 4. Royalties or working interest OR A COMBINATION OF ANY NUMBER of these.

Now add additional investors at different stages of the business development. Then think of one or two as Junior Mining Funds and added Chilean Gov't support. This thing could be huge.

I do not have any first hand knowledge of any of this and this is not a recommendation to invest or sell the stock. IT IS JUST MY OPINION. Just like:

IF You're IN, You're IN

Yo Buddy.

It is time to start thinking about this differently. The picture is already painted, just waiting for the reveal. IMHO, Start thinking about an equity and debt play at a level that will surprise even the longs. The valuation will be stagering compared to the current SP (approx 88 mil at .12). The issue is not the money, it is the other filing and reporting requirements.

Read the article submitted and think about all the other reports from the Copper convention. The delays have more to do with an investment in Medinah Chile than Medinah US. We are just a piece of the puzzle with a minority interest in the mountain. The interest is in the Chilean company and if you read the tea leaves correctly, the delays relate to that strategy. Again IMHO.

The picture has been painted, the artist has given us hints of what it will look like, but many of us still want it to be a paint by number picture. Start thinking out of the box and you will be closer to what we are going to find eventually is the structure of the deal. On it's own, this deal is going to be staggering.

If You're In, You're In

The Good and the Bad

Will Junior Mining Stocks Be THE Investment of 2011?
Submitted by smartknowledgeu on 01/25/2011 07:22 -0400

Doug KassExchange Traded FundFederal ReserveFutures marketKIMMain StreetPrecious MetalsShort InterestSilver ETFsSmartKnowledgeUVolatility


If you think gold and silver as an asset class are severely misunderstood, and it is, then multiply that misunderstanding 10 times, and you will realize the level of misconceptions that exist around junior mining stocks.


The typical propaganda disseminated by bankers that surround gold and silver every single year when gold and silver corrections occur dominates the mainstream financial landscape right now. In fact, even though a rapid correction in gold/silver prices and gold/silver mining stocks is normal behavior at least twice a year, for every single year of this 9-year gold and silver bull, every single correction and consolidation phase has elicited chatter from the same financial shills about the end of the precious metals “bubble”. And amazingly every year, the mainstream financial media grants them a platform to spread their disinformation to confuse investors. Last year, when gold dipped from $1,421 an ounce to $1,332 an ounce in just 6 trading days in November, an analyst I spoke to in Asia told me that he would not buy gold until after the bubble completely burst and that he would consider buying gold when it reached $600 an ounce. I believe that he is still waiting to buy today.


You may feel that this is an odd time to write a piece about one of the riskiest sectors in the precious metal investment class, especially as gold and silver prices continue to plummet in the futures markets but the proper time to buy, of course, is when fear is high and prices are low. However, once this correction ends, and I believe that it will end somewhere around the $1,300 an ounce mark and within the next several days, and not with a further $250 an ounce correction and the $1,090 an ounce mark called for by Seabreeze Partners Management’s GP Doug Kass, I expect junior miners to have a banner year. Even with my expectation of increased volatility in precious metal stocks throughout 2011, I believe that 2011 will be another strong up year for junior mining stocks after a very solid year last year. For now, I’m not going to worry about Mr. Kass’s recent call for gold to shed another $250 an ounce unless gold breaks below $1,300. Though none of us have a crystal ball that allows us to predict the future with certainty, I will only readjust my stance that this correction is days away from ending if gold breaks below $1,300. Furthermore, as you can see from the chart below, the declaration of select financial analysts in the mainstream media today that the current state of this gold bull resembles the parabolic blow-off tops of the 2000 dot com bubble and the 2008 oil price spike is patently false.


Though I haven’t reproduced the 10-year silver chart here, if one were to draw a long-term trend line through the last ten years of silver prices, one would see that despite the short-term spike in silver prices to close 2010, there is no parabolic spike above the long-term trend line for silver either. For now, I’m going to directly contradict Kass and predict a pop higher of at least $40 -$50 an ounce in gold sometime during the 10 trading days between January 28 and February 11th.

So now that we’ve established that there has been no blow-off top for gold or silver yet, let’s turn our attention to the even more misunderstood topic of junior gold and silver mining companies. To begin, let’s squash the notion that you can invest in junior mining stocks by investing in the Junior Gold Miners Market Vectors ETF GDXJ. Let’s take a look at the top eight holdings of this ETF that comprise more than 27% of the ETF’s net assets: Hecla Mining, European Goldfields, Coeur d’Alene Mines, Allied Nevada Gold, Gabriel Resources, Alamos Gold and Silver Standard Resources. Hecla Mining has a market cap of 2.20 billion, European Goldfields, 2.74 billion, Couer d’Alene, 1.99 billion, Allied Nevada, 2.21 billion, Gabriel Resources, 2.48 billion, Alamos Gold, 1.87 billion and Silver Standard 1.79 billion. Nearly all of the top 8 holdings in this “junior miner” ETF have market caps of near 2 billion dollars and fit the definition of mid-cap stocks rather than the tiny, small cap stocks that are representative of junior mining stocks.



For example, more typical junior mining stocks like Greystar Resources currently has a market cap of approximately $276.24 million and Great Panther Silver, $224.27 million. On the other side of this spectrum, a large blue-chip company like Apple currently has a market cap of about $308.10 billion. With respect to market cap, it would take 1,115 to 1,373 companies the size of Greystar Resources or Great Panther to equal the size of Apple. In other words, junior mining stocks are so small that a small amount of interest in a fundamentally sound junior mining stock with a great story can move the stock price higher by 30% in a matter of days. Of course a hedge fund or one very wealthy investor that decides to divest a substantial percent of shares in a junior mining company can also move the price down 30% in a matter of days as well. Thus the combination of great risk and great reward that exists in the junior mining sector.


So what are some of the biggest misconceptions that exist with junior mining stocks? The nonsense surrounding the junior mining sector is nonsense of a different nature than the nonsense that surrounds the major mining stocks and the gold/silver futures market. Bankers manipulate everything that has to do with gold and silver, including major and intermediate mining stocks, gold and silver futures contracts, gold/silver ETFs, and even junior mining stocks. In past years, it has been widely speculated that US hedge funds have unfairly manipulated junior mining stocks downward by taking large short positions against them to hedge their long positions in the major gold/silver miners and/or long positions in the gold/silver futures markets. When many of the junior mining stocks sold off by 75% during the latter half of 2008 after the US Federal Reserve enlisted the help of their puppet bullion banks to orchestrate a sell off of gold and silver in the futures markets, many investors were permanently scared off from ever investing in junior miners again. In fact, the share price of many junior miners have still not come back to par since that time.

So why would I be advocating paying attention to junior miners now? Besides that fact that many of the best junior miners are on sale now, as gold and silver prices complete their current correction/consolidation phase and turn higher, I expect junior mining stocks to start attracting much more attention along with higher gold and silver prices.



Many junior miners are among the lowest cost producers of gold and silver in the world or are prime acquisition targets from larger gold and silver companies that are suffering from depleting gold/silver reserves today. As interest in junior miners increase, if the rumors about hedge funds maintaining large short interests against junior mining stocks are true, then maintaining these short positions will become a very risky proposition in 2011. Furthermore, if these rumors are true, then as the majority of shorts held against junior mining stocks run for the exits, a lot of pent up energy in junior mining stocks will be released. I believe this was largely why 2010 was a banner year for many of the best junior mining stocks, as more than a handful rose by 200%, 300%, and 400% last year. Finally, interest in any one junior mining stock by a billionaire or multi-millionaire can be enough to blow the short interest of any hedge fund manager in a junior mining stock out of the water. In other words, when dealing with stocks with such small market caps, it only takes a small interest in them to cause their share price to double or triple. So if you believe gold and silver prices will continue to rise in 2011, you should most definitely consider learning more about junior mining stocks.



That said, there are many pitfalls that you must avoid. Junior mining stocks are notoriously volatile and they will remain volatile to the downside at times even if hedge fund managers unwind all the supposed shorts they hold on this class of stocks. The vast majority of drill assays reported by junior mining companies will yield zero results and not significant discoveries of gold and silver. Out of the hundreds of junior mining stocks that exist, probably no more than few dozen merit serious consideration for investment. Exploration companies that actually discover an economically mineable monster deposit will be few and far between and the exception to the rule, not the norm. As the global monetary crisis intensifies, politics and government regulations/taxation may move solid junior mining companies into a riskier investment class depending on the jurisdictions in which they operate.



In addition, junior mining stocks can also experience large unexpected drops in share price for no fundamental reason, but merely because one large investor decided to cash out, even if just to take profits. When a junior mining company is reported to have “discovered” a million ounces of gold, you should not take this report at face value. Often further digging will reveal that said company has no financing to bring the discovery to production, and that the million ounce “discovery” is a wishful extrapolation of resource estimates based upon only the best drill results and ignorance of all the bad drill results.



So yes, the risks can be significant for an investor that dives headfirst into junior mining stocks without any experience, so much so that even gold mining executives that invest in junior mining companies have relayed expectations of only a 20% success rate among their junior mining investments. In conclusion, I believe that success rates with junior miners can be upwards of 30%, 40% or even 50% or more with a little bit of due diligence and under the right circumstances, such as those that will exist in 2011. Just don’t be suckered into purchasing junior mining investments sold to you be analysts that don’t understand this sector and that you yourself do not understand. With junior mining stocks you must always perform some research yourself to ensure that you understand each junior mining company you own at all times. Never violate this rule and you should be able to use junior mining company investments to considerably boost your profits in 2011.





About the author: JS Kim is the managing director of SmartKnowledgeU, a fiercely independent investment research and consulting firm designed to help Main Street beat the fraud of Wall Street. Last year, his Platinum Membership helped clients achieve an 89.66% success rate with 29 junior gold and silver stocks, with the top five junior gold and silver stocks in his 2010 Platinum Stock & Asset Guide returning 457.14%, 346.22%, 346.23%, 342.11%, and 221.50% within a 12-month period.

There is a difference.

The last update was posted in the form of a public release as opposed to the historic web Q & A. You might not think that is significant, but in Medinah land that is huge. JJ put his name on a public document that was broadcast to the world. He is stepping out this time which tells me he is better than sure this will close. The timing does not matter for the long term holder, it just impacts the flipper and the shorts.

If You're In, You're In.

If you had not heard of MDMN you are probably not finding that press release anyway. The first paragraph was for those sitting on the side lines and says "We are giving you public notice" That is not a bad thing in my book.

I am back, out of the dog house and just in time.

The update is not just a puff piece.

"Company Management has today received written documentation that the first tranche of funds, necessary to complete the initial catalyst part of the Joint Venture Agreement, are finally in the last stage of transfer to the Company bank account."

This was not posted as a Q&A on just the Company web site, but a press release to the world. The reference to a written document received TODAY has significant implications.

This Company is starting to grow some legs.

IF you're In, You're In

And Chile continues to be the focus of many of the major mining companies. The national mining company of Chile released this informtion this week.

Chile’s State-Owned Copper Producer Announces Largest Investment Yet Written by Ignacio Gallegos
Monday, 17 January 2011 05:35
Chile’s state-owned CODELCO announced Friday plans to invest over US$3.2 billion through 2011, the largest investment in the company’s history.

But the record will not hold for long, as the plans announced for 2012 and 2013 are even larger- US$3.4 and 3.5 billion, respectively. Between 2011 and 2015, the company announced, total investment will reach US$16.4 billion.

Per your post.

$3 million plus in shares for $90k in exploration costs? Really?

You are correct "for certain" but why would you have money sitting in an asset account called "trust account" on your balance sheet unless it was money due but not earned. No revenue on the income statement and no offsetting liability. (see below)

Sounds like an amount in an account in your name but not avaiable for your use. It was'nt revenue so what was it for, and how did we book the other side of the transaction on the balance sheet?

The only accounts of that size combined was the shareholders advance and the share capital accounts. So a combination of those accounts would be a reasonable guess, BUT a guess.

Let see if they let me post this.

My last post for the day. I would like to hear your analysis. I cannot even think of anything beyond those two possibilities. Wait I guess the shareholder advance could have contributed to the escrow but one half dozen of the other.

As far as the 1 1/2 cent price, under the OPM senerio it would put the JV partner with skin in the game as a 4% shareholder and thus changes the long term prospects for the Company. (future value)

Second that was the SP at the time of the deal. You are not going to ask for a higher price then the stock was trading at the date of the deal.

I might have missed something, BUT I don't think so. I see a picture, others see a bunch of numbers. This deal is for real and these reports prove it. Now we have to close it. We will see very soon.

If Your In, Your In

I hate wasting one of my last two post for the day on something that should be obvious, but it might help you and other understand this investment better.

If you have done your DD homework you would see that financials are issued every three months, that is call a quarter. The September quarter is available on the company Web site. These reports are called "financials" and list the activities for the YTD (year to date).

So see if you take the numbers for the December "financials" and subtract the previous quarter you can find out how many shares were issued during the quarter and for what price. The way you do that is you look at the equity account (bottom of the financials) and see the dollar value of the increase in that account and divide it by the number of shares issued.

That will give you the dollar average the shares were traded at. In this case, your $35 Million is just BS. The fact that our cash balance increased but our revenue or liabilities did not reflect a corresponding increase, it is fair to infer that the escrow account represents money paid for those shares but not released from the escrow (or trust)account.

Additonally, there is possibility that this money is money we were required to put up for our portion of the future drilling and production. But we will not know which explaination is right until the deal is done. Based on previous company communications, it would seem that if we are waiting on the first "tranche" (strip of an obligation) and we are due a non refundable deposit if the deal does not close, that this is OPM (other peoples money) that the legal right have not transferred to us as of the end of the year.

Hope this helps. Accounting 101 class is closed now we are just waiting on the bell.

If your In, Your in

You have to fund the operations with something (preferrably not debt). They do not control the SP and have not tried to influence it in any way shape or form. (that is obvious) JJ knows where the value is and the short term SP is not even in the same ballpark with that value. So if you are long term, he knows you will get what is due for being a loyal shareholder. If your short, then you will bitch and moan and it will fall on deaf ears. You have been around long enough to know this.

You have been on both sides of the play over the last two years. I know I have watched. So bitch if it makes you feel better, but management has a single focus to bring home the steak and potatoes and they do not care if you have to eat some mac and cheese until that day.

If your In, Your In

In the 4th quarter the number of shares issued was 21,972,975 at an average price of .0129. That is determined by comparing the 3rd quarter to the fourth quater financials and it is not the $3.5 million you are quoting.

But thanks for playing.

Analysis of Financials

Sources and Use of cash - Operations 2010
Profit and loss (277,582)
Change in A/R (67,413)
Change in A/P 7,594
Change in Prepaids (13,286)
Cash from Operations (350,687)

Sources and Use of Cash - Financing and Investment
Change in net PP&E 12,466
Capital Cost - Chile (116,805)
Shareholders Advance 335,807
Cash from Fin/Invest 231,468

Sources and Use of Cash - Equity
Proceeds from Stock 543,063
Trust Deposit (437,500)
Cash from Equity 105,563

Change in Cash (13,656)

It could be both a contribution from our JV partner and a sale of capital. The agreement can be written that way to get the JV partner to have skin in the game and negotiate a higher non-refundable fee. Would represent about a 4-5% interest in the company based on a September or October enterprise valuation.

This is also another positive item of note, but just my opinion.

Buddy, is the glass half empty again?

the fact that the bears have arrive here in mass, should tell you something. Once the weak are gone, the price will move back north from here. Remember, you have always held that there is no shorting on these shares, so once the short timers have moved out, the longs stay long (you don't need anymore carrots for the longs). because they have been here for 12 years in some cases, they are not leaving now.

Take a look on the other side of the glass, it might be half full.

Look at the interium finacials.

You do not make a escrow deposit until after you have sign the agreement giving rise to the escrow. This confirms an agreement has been signed IMO. It does not confirm that all the provisions of the agreement have been met and that is what we are waiting on, If you believe in the mountain the money is not the important factor here, it is just a fraction of the future value of the Company.

We have a deal, we now have money (nonrefundable) if the deal falls thru to do additional drilling in an amount to prove up the value of the mountain. ($2M is expected cost of drilling). We want the the JV now, but all roads lead to better days ahead for MDMN.

IMHO buyers will benefit long term, sellers will benefit in the short term or until the announcement. Risk reward.

Wrong, read the Q4 financials. Trust deposit of $400k posted to the books,