If Your In, Your In.
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Nice Post.
The point is that the money may be tied up on the investors side as a result of the funding issues, So technically, they funds maybe in their account but cannot be transferred to the US account without the proper paperwork.
We might have a confirmation of the borrowing and funding at the JV level but these funds cannot be released until the proper paperwork is completed in the country of origin. Which might not be the country of the JV partner.
Example - JV partner 1 borrows money from a Austraian bank, these funds were to be sent to US by the JV partner who is lets say in Chile, the JV country. I can forsee a number of problems arrising from the country of Austraia, Chile and the US based on how the funds are transferred.
Each have there own taxes, treaties, govt regs and banking requirements. It may not be just a write a check type transaction. It could be that big and complicated. Now add in two or five other JV partners some of which have their own funding requirements and it is not beyond possibility that something somewhere got screwed up.
Good for yo,u then what is the purpose of all the negative waves that you and a number of others are sending out today. If you believe then buy, but quit trying to create an enviroment that scares the newbies into making stupid decisions.
We all have to answer for our actions one day, the professionals that are employed to move the SP for financial gains by others are scuk like the prositute and the dealer, it is just there job. But, I would hope that others would think hard before they sell there soul for a dollar.
If you are in, Your in, and if Your out, bye bye
I have done many a foriegn currency transaction whereby the funds where not released for up to a weeks after the initiation date. Additionally, if you think about it, this money was not just sitting in a bank account somewhere, (if we are potentially talking about 25M to 100m this assumption would be reasonable), then the money was probably borrowed from a bank of other financial institution and the holdup might be related to the funding and transfer to the JV partner and not to MDMN.
You make an assumption that this is chump change to someone, without knowing the JV partner and the amount, you are just talking out your a$$.
If you are out, you are out. Bye Bye.
Prove that you know what your talking about.
I have got you beat, 60K down today, but I did not have that thirty days ago and was smart enough not to spend the money before it was in my hands. Nothing about this investment should surprise anyone. The history lesson preached on this board are (while full of inaccuracies) are in fact representative of the pains and sorrows shareholders before you have indured.
I believe that this deal will get done, why because the third time is always the charm, and management has their necks out so far on this one that there is no going back.
So sit back and relax, if it takes another month then it takes another month. We will see .30 SP IMHO
Take advantage of other's supidity while you can. It is called dollar cost averaging.
Here we go.
The pink sheet stocks are not subject to ALL of the reporting requirements you normally expect when you invest in publically trade stocks. Part of the reason is the OTC markets act as a incubator for business and the legal cost of complying with so many of the reporting requirements would be counter-productive to this end.
That is why these types of stocks are always higher risk.
I have always found that the pig gets butchered too, so the hog and the pig end up living about the same length of time but the hog got the better end of the life experience.
You can look at this as a small money play or a reoccuring source of good money, playing the flips. I think many here have done well over the last 4 years doing just that. But if you are wrong, a two to four point upward swing in this stock, I would think would potentially, cost you every dollar you ever made flipping this thing. And the cost, in the number of shares, you could repurchase could cost huge long term real dollars.
I just don't have the stones to flip any of my shares. On my birthday last month the value of my total porfolio doubled in a day, (and MDMN only represented less than 10% of cost basis), those were real dollars. I know I could lose it all next week OR I could double it again. At this stage of the game, at this stage of my life, I will be the hog for a short time longer.
I mean I am not married to this thing, when the time comes to move on, I will do just that. IMO this is not that time.
I am calling it the other way, just a hunch. You would think after this weekend, the weak, the newbies and uninformed will pull a little off the table, the MM and the flippers will walk in down trying to hit the stop losses and the panic sellers.
But I don't see many of us, that have been in this for years, walking away at this point in time. Low volume we might see .14 again in the morning, BUT no one wants to be sitting on the sidelines when the money announcement hits, be it Tuesday or Wednesday or Friday.
FCM, if you are right, the afternoon crush of buyers could propel this stock above .19 as the flippers and the MM cover and load up for the next day. Also the additional coverage on so many new boards will bring even more into the stock, be it small $ and low volume.
Either way, whether you are right or I am right, IMO it does not matter in the short term, because I believe this is the right time, the right property and the right management team for something great.
Agreed, it would seem unlikely, however the total value of the cash component could be as much as that. JJ has always demanded a certain amount upfront cash to previous JV partners. We do not know what this amount is today. My point was that, at the current SP the enterprise value is not outside a resonable estimate of the cash value of the company. (no blue sky)
If the price was three times that today, I would think that some blue sky was already reflected in the SP concerning the value of the mountain itself. We are going to have to wait another few more days (hopefully) to know for sure.
The market always reflects the risk in the SP, as we get closer to the announcement, the price will reflect that. As the details are released, the price will again adjust to reflect the risk. IMO, the announcement and the details will more than cover the current SP reflected.
If anything, the Company's history has held this SP back. IMHO we should be at .30 today and .50 three days after the details are announced. The drilling results will then move the stock to the next level. I have always said this is a long term play for the real money. We shall see.
The Company's value at the current SP is about $110 million dollars. It is possible that the total cash consideration being transferred is equal to this amount. That is without any value being place on the property itself.
The shares of this company are still significantly under-valued even before we get our first drill results, IMHO. We are looking at a 2 times increase just on the announcement alone.
I am still planning on buying this week. The short term SP is meaninless. The MM's and the flippers will continue to walk the price down if they can. I will wait, and when possible take advantage of the weak minded just like Friday.
I suggest you stay strong and long a while longer, but since I do not know who any of you are, that is up to you.
You will have to wait a while longer, They are not currently required to file an 8-K or any other disclosures. The fact that they have been approved by the Edgar reporting service to begin reporting electronically, is another indication of the forward steps being taken to potentially move this stock off the pink sheets and on to one of the boards.
If you don't believe then you don't believe, but don't sit there and act like you don't have a separate agenda here. You are so transparent that you are invisable to most of the readers.
This is not an 100K deal we are talking about. This is potentially a multi billion dollar deal. You just can't put an ad on craig's list and have 50 people email you a bid. This would be a huge undertaking for anyone and any Company. I thank God the deal did not go through back then. The price of the metals has increased the value of the deal without us having to lift a finger.
This is the right time and the right management team to get this done.
Believe or walk, it is a free country. Quit winning like a little girl. Everyone needs to gut it up. I was away this weekend and did not get to read any of this BS, but after reading for the ast half hour all I can say is,jez, talk about the split personalities of some of the posters here.
They were pumping last week and now they are trashing the Company and management. This is what makes investing in pinkie so tough.
If you want to sell, I will be waiting on Tuesday to take the shares off your hands, and I think there will be alot of othr that will be waiting too.
The day setup perfectly if I were the one planning the coming storm. I would have like something more out managment but the non official crums were sufficient to get people focussed on the DD and the information that is readily avaiable.
IMHO, The MM made some money, but I think dug a bigger hole that they will eventually have to fill. The shorts, made a run on the panic sellers and dug a bigger hole also (those with stop losses were the big losers). I think based on Momo and others, they thought they could take this even lower, but failed when the purchase volume popped them in the jaw with 30 minutes to go.
Wednesday will be the day. I think Tuesday will be the setup. The deal is done, and management is going to let the shorts hold the weapon of their own demise to their unwashed neck.
It was a good day, now we need a great day.
This is how you make money picking fruit.
$4,000 in 30 minutes. Nice work if you can get it.
14 Million Shares - That is nothing.
The fear is not there. Assuming 40% short that is what we traded in the last three days. This was an easy day for the MM to make some money and they took it. But it will not even cover a fraction of their loses next week.
News in the next 15 minutes, but I can wait till Tuesday.
Fruit picking time
Still looking for some low hanging fruit.
No need to pump the shares. Those that stay long will benefit from the belief that the deals is done. The others will just encourage additional short selling which increases the upside on the news.
If I was planning a short squeeze, the plan in place is how I would do it. Maybe even announce a small dividend at the AGM in February to bury the knife. Let's say .02 per share ($13.5 million)
Who knows. But maybe.
Why did they pick the 15th.
If I was putting a plan together to get shorty, I think this is the day I would chose. A Saturday before a holiday. No JV announcement on Thursday, the weak freek, the shorts start to sell in a frenzied attempt to drive a nail in the corporate coffin. One feeds on the other, the stock price falls in big chucks and the NSS pile on through the first 3/4 of the day driving the shares down on huge volume.
If I was putting a plan together to get shorty, I would then announce the JV about 1/2 hour before the close, but release little or no information. The price would rebound so fast with no sellers and everyone wanting to buy and to cover their short position just from the days feeding frenzy. the stock would close up say 10 points.
If I was putting a plan together to get shorty, I would release a summary press release on Saturday and an additional one on Monday. The buying pressure over the weekend would be huge and the Monday release would bring all sorts of interested buyers. The Market would open Tuesday with the the ask at lets say .50 and still little or no sellers. The SP would continue even with the MM trying to equallize the Buy and the sell by trading more NSS but to no avail. We would trade 50 million shares, they would know that they cannot hold out with that kind of volume and when the details of the deal are released on Wednesday or Thursday the Dam is broken and the first MM breaks ranks and starts to cover.
IF I was putting together a plan, (which I am not) that is what I would do. It is a win / win / win / Big time Lose for everyone that actually believed in JJ, Les and the mountain.
Go to bed and think about that tonight. It would take someone that knows how to get shorty to put a plan like this in place. Do we know anyone like that?
I am looking for some opportunity tomorrow for some low hanging fruit. We will see.
The Price is meaningless - Short Term
They are working against a rising tide. Their limited victories will eventually lose out to the force of nature, if not today, then by the 17th.
Market Cap at .18 is just approx. $130 Million
That is nothing in relationship to the potential. Once announced, the JV should at the least double that amount.
The only crazies out there are the day-traders. Sell at your own risk. IMHO
It is the E ticket.
Chewy, this is your week, you either stand exalted or eat a little crow. But if your invested your winnings will be the salt at the table. Oh and Nice tune.
3H - I Agree, it is the long term mountain where the real money is, and as the SP moves up and more information is released on what is known to date, the real money will begin to flow into the stock. The preface of the story has been written, now the real story begins this week.
Monday Monday, so good to me,
Monday Monday, it was all I hoped it would be
Oh Monday morning, Monday morning couldn't guarantee
That Monday evening you would still be here with me.
IMHO - Monday (Morning volitility from the dark arts)
Looking for .04+ in last 3 hrs without a JV announcement and 30M volume. Followed each day thru Wednesday.
With pre market JV announcement looking for .30+ in first 3 1/2 on 60M volume and .15+ in last 3hr on 40M volume.
Market Cap @ .17 123M
Market Cap @ .21 152M
Market Cap @ .24 174M
Market Cap @ .62 450M
Just my guess, I guess the anticipation is getting to me, I am sure I will not sleep much tonight. Good luck to all, For me, after 112 weeks, this is my week.
IF your IN, This week, Your IN
Good Points
The other thing that everyone needs to understand is that JJ believes in this mountain and has worked very hard for a very long time to make what will happend next week a reality.
IMO, a man of that singular purpose will not make a bad deal. His honor and legacy depend on this. This is not a stock play for him, this is wealth biulding on a scale few of us can understand.
I repost for the benefit of those that have recently joined the Party.
I posted this back in August and think In light of some resent BS batted around this board tonight, it needs to be brought back up of how large JVs are typically structured in Chile.
FOX BUSINESS - On August 24th, 2010 Codelco (Chile Ntl Copper/mining)entered into a JV with Antofagasta Plc (Eng Mining Co) under a 4 year agreement, Antofagast will invest $2.5 million US in drillng program covering 1,900 hecters, at the end of 4 year program, Antofagasta will then carry out feasibility study. Should properties go into production Codelco retains 40% Antofagasta 60%. In 2008 Codelco signed similar exploration agreemnt with Rio Tinto.
This is not ment to identify or imply any of the mentioned companies are part of current JV negotiations, but to present a possible structure to the JV only.
This type of deal for us would be a "homerun" for MDMN, because of the following facts:
1. Our Company knows the mountain.
2. Managment intends to fast track the drilling and feasibility study (rumor has it they are on the mountain today).
3. The money per the Q & A has been secured from third party source.
4. Both long term and short term cash flow to Company, and thus shareholders, are maximized by retaining a larger portion of after production profits. (If you believe in the mountain, 60% is better than 15%)
5. The JV will have significant upside for the shares based on industry perception, not Shareholders (You will get your SP increase in short term with bigger returns just a little bit later): I am sure the JV was not the only factor for the following fact:
Source: Thomson Reuters - Antofagasta Stock Price doubled from the date of the JV announcement thru YE. At the time it was trading at approx 700 GBp closed at 1600 GBp at year end.
6. As the price of the mined commodities increase so does cash. (Many think a up-front cash buy-in would serve us best, It does if your thinking short term, but we would have to sacrfice long term profit for short term cash.) IF THIS IS AS BIG AS MANY BELIEVE, THIS COULD BE A 100YR MINE.
7. This opens up other opportunities for the Company on it's other projects.
I do not know if this information is relevent or not, BUT having a choice of up-front cash and $.85 shares or significantly longer term cash upon production and $15 SP, I will take the later and roll the dice. That is just me. But I thought we should at least think about the possibilities.
If your In, Your IN - Either way.
Great Day for The Longs
$.17 Next week even better. Forget the tape painting at the bell. The first seven rounds go to the shareholders. The MM's are on the ropes and will be bleeding like a stuck pig next week. IMHO
What do you know, 20 million in volume and .02+ in uptick.
If Your In. Your In
Ding...Ding...Ding
The shorts and the flippers take one to the mid-section. One more 30 minute round. I think next week the fight is called a TKO.
Chewie, your back with your negative ways....... your sitting on my buzzzzz.
The junior mining mutuals - its time to play.
Buddy, way to be positive.
30 minute warning. IMHO
I think we have only seen half the volume for the day. Last hour will be the time to put everything else down and watch the show.
Cannot see much selling tomorrow, expect big day even without announcement. Will blow by today's close early and finish .02+ above todays closing IMO.
Happy but confused!
What does it mean when the bashers become the cheerleaders at a new high? I thought I understood everyones role on this board, now I am totally confused.
Thankfully, you can still rely on Chewie to be Chewie.
If your In, Your In
Because I was asked - FYI on DD
Individuals looking for any due diligence on MDMN need to understand that in any "MINING PLAY" a good source is the internet. Type in the name and of the company and look at the web address reference. You can ignore the news agencies because the company is non reporting, presently. The company web site is a good start, but any real DD can be found on most "Mining Play" stocks under the due diligence forum.
The real work is taking the time to read all the data and opinions regarding the Company, management, previous JV processes, current corporate communications and understanding the industry and comparable public companies.
Hello Anyone Home
You will not find much here, this is more of a post, bitch and babble board. But there are other places and boards that have a wealth of knowledge on the property, industry, country and minerals that every investor should be aware of before investing in this play.
You have to actually work to find the information. If your not willing to work for your money, you get an equal return of the effort you make.