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One tireless individual has spent a great deal of their time to chronicle the history of this company. It's up to you to take note of the figures behind the information and to draw your own conclusions. http://theminingplay.com/viewtopic.php?f=6&t=8
There’s a rumor that Les started celebrating a little too early. That’s probably right. After all, how many years has it been since Les and the BOD have been telling JJ to forget his pie in the sky dreams of 15% FCI and to settle for an industry standard deal? Looks like the combined effect of angry shareholders, an exhausted BOD, and the march of time have finally made an impression. Let’s not forget the contribution of our new CEO, Mr. Tenney, who if not for his bilingual fluency, the message may have never gotten across.
Let’s hope that all logs this season are bright yule logs and that the only jams we encounter are the tasty spreads on our holiday scones!
Having Paris back is considered a good luck omen by some...
Approval is probably a "lead pipe cinch" at this juncture. A great development and great news. Have been holding on to my modest 1.9 million share position through thick and thin.....
The past is the past. Sure, the history is checkered. But it’s a new day for Medinah and who knows what tomorrow will bring? Hopefully a JV and not UFO people… Those UFO people give me the heebie-jeebies!
Please visit more often Beth. Your tough and intelligent commentary would nicely complement the current mood of over-optimism, warranted as it may be. We know that there are probably a couple of questions in the story that could be brought up and examined more closely...
I'm hanging on to mine, by kracky. This could very well be the "big enchilada" that some have waited over a decade for.
That's JJ and the Board. The shareholders weren't described as being part of the dynamic in my post.
Thank you for your analysis. Glad I held on to my modest 1.9 million share position in BMSN. Nothing but excitement ahead!
I’ll take a stab at this one, Krak. The reason a deal has not happened up to this point is very simple and should be apparent to all.
Indications are that this is a fine property. The Gordon breccia and the LDM show decent values in copper, silver, and gold. The reason why nothing has happened in the past several years is that JJ’s price tag for a deal was simply too high. A 15% Free Carried Interest was just not attainable with a reputable partner. A standard industry deal is possible, however, and that is reportably what we have now.
The dynamic that existed with JJ and the BOD concerning the monetization of this property over the course of the last two failed deals may never come to light. What is clear now is that everyone is now on the same page and have done everything necessary to prepare to make this deal happen. Finally!
It's the real deal. Finally, this misunderstood and disregarded stock is gonna ROCK!
It's gonna be grand!
Damn, you're good!
Sorry, I forget about the folks who paid a premium because of the "excitement" they felt at the time. I hope they take this opportunity to average down. The market gives no quarter to those caught up in emotion, especially when picking a time to buy a given stock.
That's right, Carl. The excitement is mounting! Holding on tight for the ride, I trust?
Beth, why aren’t you joining the party?
I hear everyone is bringing lawn chairs, fried beans, booze, cigars, shades, and umbrellas on the other board. I think we’ll be camping out at the entrance to the processing plant. You bring the antacid and I’ll get the beano!
Here's to the future! and a better pps in the morning!
Beth,
Why is this ancient history being dredged up? How does that serve us as shareholders? I found fault with the logic employed in your post, nothing more. Please don't confuse my critique for anything more than that.
And...How about that Mr. Tenney? The guy sure knows how to write an update, huh?
I've read all about it, thanks. Calling BS into question shouldn't be the province of only the detractors.
“From what I hear from Vancouver/Howe Street, there is a lengthy and sordid history of poor behavior, including but not limited to license revocation, but I don't believe further discussion or rehash benefits
anyone.”
Are you kidding? Sounds like your direct lines to Howe Street and the U.S. District Attorneys Office must yield some pretty good stuff. Fresh information is always welcome. What a shame most of us are relegated to getting stale information from official websites, news articles, and message boards. C'mon, Share with the rest of us!
Lookin' up!
Added more today. Long and strong since my first buys late last year. This will be a monster!
Glad I held on to this little gem. Accumulation happening here.
Seven great reasons and seven great deductions!
My concern was that in tossing out numbers, the less educated might jump to unfounded conclusions about the actual number of shares in circulation. Authorized shares frequently remain unissued.
Again, quoting investopedia: "Outstanding shares are shown on a company's balance sheet under the heading “Capital Stock” and are more important figures than the authorized shares or float numbers. Outstanding shares are used to calculate several metrics, including market capitalization and earnings per share (EPS)."
http://www.investopedia.com/terms/o/outstandingshares.asp
Of course, anyone not familiar with basic definitions in the investment game has no business playing with penny stocks.
The defined difference between authorized and outstanding shares should be noted when throwing out numbers in a legitimate discussion.
The reserves blocked out on the Gordon Breccia are a matter of public record. The drill cores are in storage and have been inspected by many parties. The "gold equivalent" calculation was courtesy of Dr. DeCosta. Anyone can check his math if they care to based on metals prices circa 2000. The report prepared on this drilling done by A.C.A Howe International Limited are available here on the official Medinah Minerals website: http://www.medinah-minerals.com/pdf/geologic_june19.pdf
"The ounces Medinah blocked out in their past drilling campaigns i.e. 180 million pounds of copper, 722,000 ounces of gold and 6.5 million ounces of silver. When you do the math and factor in the relative prices of the metals this represents about 1.5 million ounces of “gold equivalent” Sounds like more than a little exploratory drilling that we've done.
Yes, Beth, patience is required. It’s required of all true believers. If it seems that I’m doing my part to promote my stock, it’s because I too am a true believer….In the mountain.
The personalities that comprise the BOD are a different matter. The manner in which this collection of claims has been promoted through the years is certainly deserved of a no holds barred critique. But I prefer to focus on the positive. For example, JJ should be recognized and commended for his hard work and vision in consolidating the over 1500 claims on the Alto. As a former claim holder in the U.S. with some experience in establishing and maintaining a mining claim, I can say that is no small feat. To build a publically held company by nailing down an entire mining district is remarkable. I am proud to hold shares in this venture and to share in this growing adventure.
I use the word adventure, because this is certainly a high risk play with a potentially rich payout. Factoring the degree of risk inherent in your average junior explorer, it should be understood that this is not an investment for the naïve and trusting beginner. It is not an investment you make with the rent money or your life savings. That being said, good advice and technical analysis have been provided here by some very helpful people to aid anyone looking for a good entry point. And the true believers know that Medinah is certainly not your average junior explorer.
Finally, anyone buying shares of any penny stock based on hunches, advice from friends, or wishful thinking will almost certainly pay too much and face frustration down the road. This is a game for pragmatists. The cost of tuition for the foolish and implusive can be steep
The frustration being expressed here is a reaction to the “boy who cried wolf” syndrome. Now that our long awaited joint venture is really happening, people expect action in a matter of a few days. Ironing out the details necessarily takes weeks if not months (hopefully not!) and patience, yes, patience is required here. Additionally, not all shareholders get their information from message boards, so the recent Shareholders Update was a simple statement of fact for the larger investment community that is not focused on the day to day minutae of all things Medinah as presented in the online forums.
Transparency is usually best demonstrated by public companies in the form of complete financial statements reviewed by competent professionals, and we still are woefully behind the curve in that department.
Alas, Beth. It's a pinkie. Transparency is at the discretion of the company. You'll note my tone: "The trend seems to be toward greater transparency.." That's guarded language.
True, hopes were for an update this week. Shareholders at this juncture are fairly well demanding one no later than next week.
All in all, it is still my belief that Mr. Tenney is working to the best of his abilities to provide us with whatever information is available.
You’ll be at work, wherever, minding your business, getting a stock quote here and there…You get busy or go to lunch, return…and….BINGO! You’ve got a multibagger all of a sudden on some unexpected news. It can and does happen to these little startup biotechs. It’s happened to me any many others. It will almost certainly happen with us here with BMSN.
Lookit it GO!
Haven't sold a single share. Long and strong as they say....
Got in at .0065 last October. Well ahead of the herd!
Share price rise defies logic..... At least in my mind it's a baffling reality.
I believe that what we are seeing with Medinah Minerals is a fundamental change in direction, particularly since the appointment of Dennis Tenney as CEO. Greater transparency and better communication between the company and its shareholders seems to be the trend here.
The rise in share price shouldn't be so difficult to understand given that the company has a 30% FCI (Free Carried, or as Dr. DeCosta would say, Royalty Interest) in a producing mine on the LDM, a joint venture agreement just around the corner, and the very real possibility that the Alto will be proven up in a drilling program, beginning perhaps as early as this year.
"Proofs in the pudding." Thanks for all you do PatientGal!
It's wonderful to see the stock performing so nicely these days
Yes, it is strong like the bull,
High flying like the eagle,
But one must have the patience of the ox to hold long term.
Quijano is easily misspelled. "Kihano" is the best someone could do with an unfamiliar Latin name.