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Jack.."action to move the stock" is not motivation for us longs. We want the pay out for one of the largest mineral discovies in the last 25 years. It's there and we own it. We just need to find someone smart enough to get it out of the ground. We are not trying to find "chinks". We are trying to find out why they continue to delay this and why they refuse to communicate with the shareholders. It's there, we own a part of it and we want our share. I'll give them credit. They have held this together for a long time and they have paid the price in many ways. But that does not give then the right to be covert. It's a publicly traded company. Like Vince stated. It's time. Time for the truth. No more next weeks or shareholders wondering. The time has come.
The original "Mining Deners" will continue to work towards that conclusion.
It was folks turning up the heat on the original "mining den" thread that got these guys to go down to Santiago last March.
We're still here and working hard to get to the truth. Stay tuned.
Darth..Whoa Nellie.. I can understand your anger. But the truth is we the shareholders, the owners of Medinah NA and CDCH have no clue as to our investment. We believe in the mountain, but how long can we endure week after week of next weeks without a clue as to the events. All we are asking for is some clarity. I for one am simply tired of same old same old same old same old. Its time to find out the truth. If we have to piss people off to do it, then so be it. I say all this actually having done serious DD, knowing as much as anyone but still not clear on what is ACTUALLY happening. And that my friend is a sad state of affairs.
Based on what?
Their 4Q financial results certainly look better than 1, 2 & 3.
Somethings up. Ya think?
I go way back with this pinky and am one who was told to pull certs, which are gathering dust as we speak. I was told a deal could not be struck with the shell company and a new shell would be formed. Hasn't happened that way. I was also told there were multiple border and overseas clinics opening. 16 clinics last I heard. Please do not take this as word. Simply second hand information and not reliable based on what I was told previously. But my dust is getting more valuable. Now if I can only convince my brokerage house to take em back.
I suggest everyone read or reread the information posted on the web site.
You can draw your own conclusions based on updates...odds and sods..(lol)..and the various evaluations of the property. Nothing else is real. As hard as some of us try, the timing is guess work.
I will admonish the Directors of the two US companies for allowing Medinah Chile to control the JVA negotiations. If I were on the BOD of a company that owned say 29% and 21% (I think thats an even number) of the company and the controlling interest of that company is in the process of selling my interest, I would demand to know wtfigo..In the best interests of my shareholders I might even get on a plane and go to Chile..jmo..
Not for long..
I say don't put a date on it and you guys come out of the workwork..So much for my cred..lol..
Sorry to hear about JJ's brother.
DC is right. Why put a date on it? If you've done the proper DD you can sleep better. It could happen and most likely will when we least expect it. Just waiting for the call that all has been appproved. And I have nooooo idea how long that takes or what complications could arise. So, good luck flippers. Roll the dice.
Say whatever you want Chew..It's not going to change the fact the train has left the station. "If you're going to dance you have to pay the fiddler".
Rick..It's nice to have a few "Denners" here. Your expertise is welcome. Mike..
Nice Darth. You sound like "William Wallace" leading his men into battle.lol..
"You're heart is free. Have the courage to follow it."
Geez Jinx..What could you have possibly done?? Bad Boy..Bad Boy..Whatcha ya goin to do...Bad Boy..Bad Boy..lol..
Chew..I'm a long and I'm of the opinion your posts have merit. They are bright, articulate and humorous. You don't bash. You make fun...and after all these years and false starts there is plenty to make fun of.
We'll save you a seat at the table..
I agree with most of what you said except that shareholders might have sold too early..lol.. They can still get in at the lowest and some sold @ 2 doubled their position or took profits. IMO, this is a long term play with some solid upside. If you discard the past focus on the present you get a good picture. BTW..I like the lack of updates..Something is brewing..jmo..
I'm sorry Andy but the jva should take a back seat to the events in Chile. There has NEVER been a mining event like this..EVER.. My cudos go to all those involved. A great and historical event for the Mining Industry. Wow .
All miners are safe. What a great day for the Chilian people, the Chilian Goverment and the Mining Ministry. Very well done..Bravo
Thanks for putting that out there Darth. There's no doubt where you stand in all of this. And Andy's right, no worries.
The heavy koolaide is suggesting "soon very soon". Most of those post are qualified by saying "I believe" or "Should be done" or " I do not know for a fact". Which doesn't make them right or wrong, just guess work or Waldo speak. I prefer not to put a date on it. I'm confident it will happen soon and take comfort in that.
When the annoucement does come you better get ready to rumble. You are going to be making life changing decisions on a hourly basis. That will be...kick in the ass fun..
So, I neglected to add a zero, big deal..lol..at $1300 plus per oz that is alot of moola..
Projected 6 million oz of gold. Do the math and you'll see the value.
Bill, there you go talking to yourself again. I know, you just want to have an intelligent conversation.roglmao..
If the mountain has the reported resourses, coupled with current ore prices, Katie bar the door. I smell a buy out.
Indy..I got it..funny..
Brick..You're not late..The party has yet to start..You might think about loading up on the 10's..Have a great night.
Gee, I wonder who painted the tape at the end of the day at 0.087?
He's like a snake in the grass..lol..
Sorry Brick, there is no mine. Just a big mountain, rich with reserves but virgin to extracting ore. For now at least. You can view a Juan Jose video tour of the Alto on you tube. You can tell how proud JJ is of his baby.
IMO..They are setting themselves up to get bought out. What that means for shareholders remains to be seen. I could use some PG&E shares in my portfolio.GLTA..
That's funny Harold..How about JJ, Les and Greg on the cover of Forbes??lol..
There is a very sharp guy that very seldom posts, reads this thread and is invested.
He once did some accounting for me on how much the shares would be worth based on SO, the amount cash up front, dividends, share buy back programs etc..Maybe he would care to share..tvk..?? I'm not trying to put you on the spot Tim ..but tough s...You're smart and you should share..And for you golfers here.. you do not want to play him heads up..I just give him my atm pin number after every round..lol..
Benny. There would be several courses to follow depending on the jva and it's terms. I would think if they declare a dividend there would be a significant squeeze and most would stick around to collect that dividend. A share buyback program also has be discussed. So, until we find out the T&C of the deal it would be hard to formulate a definite strategy. My thoughts go towards the LDM. They could quickly start to process ore if they mine there first.Mike
Production payoff might not take as long as you think.
The LDM mine can produce at a very rapid pace.
Thanks to Mike Gold on MP for this.
Mike Gold
Guest
Re: LDM MINE SHAFT PROJECT
« Reply #4 on: February 18, 2010, 07:52:58 AM »
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REVISED TO INCLUDE THE REST OF THE SHAFT. I MAY UPDATE THIS LATER TO REFLECT NEW DETAILS AS THEY BECOME AVAILABLE.
So, when the news comes out that that the LDM mine shaft has started..what then? What should we expect as we head down the shaft on a daily basis? Based on the limited information that is known about the LDM project, the ACA Howe report, and some knowledge about mine shafts in general, I have attempted to determine just that. Enjoy!!! Please note: The schedule does not take into account weekends, holidays, parties, siestas, equipment breakdowns, union/labor troubles, road problems, flash floods, ground water issues, or any other unforeseen problem!
Day 1. We reach a depth of 3 meters and have removed 28 cubic meters of rock weighing about 75.6 tons. All of this material is discarded as it is simply overburden, regolith, and boulders.
Day 2. Depth completed to 6 meters. Material discarded.
Day 3. Depth completed to 9 meters. Material discarded.
Day 4. Depth completed to 12 meters. Starting at 10 meters, we will encounter 20% disseminated pyrite and strong epidote alteration. Gold values average around 1.7 grams gold/tonne. This works out to about 3 ounces of Gold removed! The first 40 meters or so down, in general they will encounter a variably sheared and quartz-carbonate-pyrite veined pyritic siliceous volcanic unit. I would expect all of this material to be placed in the low grade gold pile on the surface
Day 5. Depth completed to 15 meters. About 4.5 ounces of gold mined!
Day 6. Depth completed to 18 meters. Same amount of gold.
Day 7 through Day 13 about the same as previous.
Starting about Day 13, things get a little more interesting. We will reach a depth of 39 meters. At 37 meters of depth, this will correspond to an increase in disseminated pyrite content in the volcanic unit along with strong epidote-diopside-chlorite alteration. Gold values increase to 2.44 grams per tonne. We have finally entered the “shear zone”!
On Day 14, we reach a depth of 42 meters. Several quartz-carbonate pyrite veinlets and stringers will be seen. Gold values increase to 9 grams/tonne. There is a 2 meter wide fault zone that will be encountered between 40 and 42 meters. The miners might consider making a cross-cut drift to follow the gold at this level. Expect this material to be placed in the medium grade gold pile on the surface.
From Day 15 to Day 22 when we will reach a depth of 66 meters-the amount of gold that will be encountered on those days is uncertain since there was no assays taken by Gordon House when it was originally drilled. However, based on remarks from Robert, I believe it will be similar to the 1.7 grams gold/tonne encountered earlier. If you add up all the gold encountered thus far..it would amount to about 100 ounces or about $100,000 worth.
Day 23. The big day!!!! With all the excitement, the miners dig extra hard/long and reach a depth of 73 meters At 66 meters, a significant fault/breccia gouge zone will be intersected and continue to a depth of 73 meters. Bonanza grade gold will be encountered. The exact grade that will be found is unknown as core recovery was extremely poor but as high as 455 grams gold/tonne despite the poor recovery was encountered during the previous drilling. I have decided to assume a conservative 75 grams gold/tonne over the interval of 66 to 73 meters. About 425 ounces or about $425,000 is recovered and placed in the high grade gold pile at the surface. All of this will be immediately placed on a truck and sent directly to Enami for processing.
Day 24. Now what? Do the miners linger at this level or do they proceed with completion of the planned 100 meter vertical shaft? (Note: Miners generally design the vertical shaft to the maximum depth of any expected future workings.) I assume that the horizontal adit will be worked on simultaneously as the vertical shaft. Working on a horizontal adit is easier to do so development of it will exceed that of a vertical shaft. However, the length of it is much longer so it will lag that of the vertical shaft. It doesn’t much sense to complete the vertical shaft well ahead of the adit-the optimum being at the same time. I estimate that the miners have two weeks to kill so they might as well make the best of it! The next thing to consider is the orientation of the vein relative to the vertical shaft. It appears that vein plunges steeply down(and up towards the surface) with about a 30 degree offset from vertical. The miners would likely test both directions. If we assume that stay in the 75 grams gold/tonne material, this will indeed be exciting couple of weeks for Medinah! Each day, they could be pulling out around 200 ounces per day of material. By day 38, another $2.8 million of gold has been extracted. There is now no doubt about it..the LDM project is a success!
Day 39. With the adit quickly moving forward, the miners on the vertical shaft regretfully leave behind the pay zone and work toward completing the rest of their shaft. Below the fault zone between 70 and 80 meters, the miners will encounter bleached breccia and andesite with numerous quartz-carbonate-pyrite-chalcopyrite veinlets and factures. They will then go through a thick sequence of porphyritic andesite with varying amounts of silicification and fine disseminated pyrite along with quartz-carbonate-pyrite and arsenopyrite-chalcopyrite veinlets. Overall, the gold grade will be low. By Day 50, the vertical shaft is complete and miners from the adit and the shaft are able to shake hands through a hole congratulating themselves on a job well done! With the shafts complete, the next month or so will involve completing all the necessary utilities, airflow, material handling, safety issues and like. Beyond that, the miners will go back to the 70 meter level to complete the workings there until that vein is exhausted. Other veins will be targeted as discovered. In particular, the hanging wall of the shear zone near the footwall interface will be high value target. Simultaneously to all of this, one can assume that surface exploration will be on-going such as more IP survey’s and drilling to identify further targets to be exploited. New shafts will be sunk further to the North in the shear zone..with lateral drifts heading back to the South to hook up with the exiting new workings. By the time, all of this taking place, I suspect Medinah will have already been bought out due to a sucessful JV at Lipangue. Either way, it will be exciting/interesting to follow as the project goes forward. Cheers!
Jack. In a few more weeks, imo, you will not be able to buy shares at the current price. But thats okay. Many large investors are waiting on the sidelines to buy post jv but pre exploration. That would be a safe but effective stategy.
Jack..Inspite of some nonsense on MP there are a few that can offer insight. The property is a rare gem..GLTY.. Mike