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March 7, 2012, "Several Auxiliary Agreements detailing final preparatory matters; including legal parameters, drilling and exploration operations, mandated duties of the Purchasing Group, and final delineated responsibilities of the parties, are now being presented for signature."
March 23, 2012, "Yes, as reported earlier by Medinah Minerals (Chile) S.A., the sale of the 1,508 mineral claims deal is signed and several Auxiliary issues have now been clarified."
Two weeks have passed since the Auxiliary Agreements were presented for signature. As of today, those Auxiliary issues have now been clarified but obviously have not been signed off on.
I would venture to say that those Auxiliary issues would have had to have been clarified on March 7th before they could have been presented for signature.
In my view, this most recent Q&A says nothing new and is merely damage control to buy more time and prop up the falling PPS.
One might argue that this statement, "The release of the first tranche of funding is imminent and will be reported immediately upon receipt.", is a new statement. However, even though this is the first time that the word imminent has been used, I think this word has definitely been implied by MDMN ever since the SHM.
I have to say though, one has to admit that it is kind of freaky that it was exactly a year ago today on March 23, 2011 that MDMN released the following Shareholder Update:
http://www.otcmarkets.com/stock/MDMN/news?id=28204
"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."
Talk about deja vu all over again!!!
For all here that have been waiting patiently, I truly hope these following words will come true:
"The release of the first tranche of funding is imminent and will be reported immediately upon receipt. Further, the identity of Principals will be reported simultaneous to the report of funding and a complete summary of the Terms and Conditions pursuant to the sale."
I think it all comes down to each individual investor’s willingness to believe what they are being told.
There are those of us, myself included, that have come to distrust anything that MDMN says in a Q&A or in a Shareholder Update. From the sounds of his posts, it seems that Medinaminer is getting to that point as well.
A few years back, I would read each document that the company put out with excitement and anticipation of how great my life would be once I started selling my shares for huge profits. Now, I read every word with skepticism thinking that each one was deliberately chosen to convey a meaning that is actually far from what is truly taking place. I look at each statement and try to decipherer which words were selected to give MDMN an out or an excuse a few weeks down the road when everyone is still waiting for the big announcement that hasn't come.
You are obviously sold on MDMN and believe everything that the company puts forth will eventually come to fruition. In fact, your last post sounds just as strong today as a strikingly similar post from March 31st of last year in which you stated, “While shareholders wait for the impending joint venture announcement, one would think that it would be beneficial for an active investor to exercise a bit more due diligence perhaps by expanding his/her understanding of the industry in which the investment is a part of and learn or at least become conversant in as many of the fundamental and/or peripheral topics that directly or indirectly affect that investment,…”
I read your posts with a great deal of respect and admiration for all of due diligence that you have obviously done in regards to MDMN. I check in here every day because there is a part of me that thinks that your conviction and belief in this company could actually be justified.
However, there is another part of me that looks at MDMN like an old girlfriend that slept with my best friend, and I no longer trust a thing that she says!!!
We have seen the scare tactics and the dumping on fear three or four times over the last couple of weeks. And every time, GDSM has shown tremendous resilience. You think people would learn!!!
Those who are holding strong probably have the following in mind and realize that they too will be able to sell at a much higher PPS:
To complete the future funding requirements of the JV, the Company has further agreed to grant the funding investors warrants to purchase shares of the Company as follows:
Ten Million (10,000,000) warrants exercisable at $0.10 per share
Ten Million (10,000,000) warrants exercisable at $0.15 per share
MDMN PPS heading back towards January levels. Patience is wearing thin. If MDMN continues to follow last year's pattern of trading, .07 will be coming soon to video monitors near you.
L2 shows that the ask is very thin back up to .01.
Looking at the three month chart here on ihub, it looks like MDMN peaked about 10 days ago and is now moving onto that slippery slope back down.
The company needs to release some positive news fairly soon or they are going to lose a good many shareholders on the backside of the mountain.
Low volume pull back consolidation day. In spite of endless negative posting, looks like most here are holding tight with the idea that the future of DKGR is going to be much brighter.
Doesn't hold any water with me. It is not like these guys are fresh off the boat.
So, is what you are saying that the new management team has no idea that they just signed up to be part of a con job?
Thoughtful analysis, and I am definitely with you on this statement, "I never could figure out how so many really good people could be in Management here if this is not solid go".
I can't imagine that Mr. Smith and Mr. Jackson would want to tarnish what looks to be very successful careers by throwing in with some BS scam. It just doesn't ring true. People that have had the drive to become successful throughout their lives don't suddenly change course.
I think the new management team possesses all the skills and drive necessary to turn DKGR into a very profitable venture.
Good things coming our way!!!
I'm ready!!!
I think that we have some real seasoned professionals at the helm right now. This is definitely not their first rodeo. It is not like we are dealing with people who are lacking financial or oil & gas experience who just decided to try their luck at reworking some mature oil fields. The combined professional careers of Mr. Smith and Mr Jackson give them a wealth of knowledge to turn DKGR into a very prosperous enterprise.
I am looking forward to many green days ahead.
From my recollection, at the time of the shareholder meeting, the deal had not been signed. Then, the March 7th Q&A pointed out that there were still a few more details that were, "now being presented for signature".
Bottom line, as far as anyone here knows, the final agreement has yet to be signed.
Possibly, we can agree on that point.
Did I miss something or are we simply making stuff up now?
"It has already been announced at the shareholder meeting and in the subsequent Q&A that this agreement is signed."
You do realize that, "Market Capitalization = Number of shares outstanding multiplied by the price of the stock."
When the DKGR starts heading north of a penny in coming days, our market cap will be heading north as well.
With the new management's prior accomplishments as a glimpse of our future, I do not see DKGR spending much time at present PPS levels.
It wouldn't surprise me a bit if that 1.9m sell order is AON.
What a cheese head!!!
To me it is very simple:
A.) DKGR is now an Oil & Gas stock.
B.) DKGR’s new management team has a wealth of experience in this industry.
C.) DKGR OWNS 40 currently producing wells with more coming on line.
D.) These wells are domestic as opposed to some potentially volatile country.
E.) Oil & Gas are proven commodities with huge demand at premium prices.
F.) Producing assets + Huge market demand = SSSSSSSSSSS
G.) The share price will soon reflect the above.
I think you are correct. Very low volume, very short lived, and a very quick recovery. That says a lot about strength and confidence of this stock and the new management team.
I agree 100%. Selling was induced prior to the interview in order to scare up some cheep shares.
People who see the true potential in the new direction of DKGR held tight or were able to pick up some bargains.
Unfortunately this is a common tactic in subpennys, and those who sold most likely sold for a loss and are regretting it now.
I have noticed in the past that when I have been trading in fast moving stocks that E*Trade will always give me the lowest ask price even if my buy order was set higher.
Very nice buying now!!! 19 of the last 21 trades have been buys at the ask.
40 producing wells presently that DKGR owns with more coming on line in the near future, that sounds quite promising to me and what I was expecting to hear. So far, management is right in line with their stated goals.
When the next PR gets released, most likely within the next few days, much more definitive information will be released that could not legally be released in the limited format of an interview.
Everything is setting up nicely for those who are truly paying attention.
My thoughts exactly!!!
The new management team here has dramatically increased the shareholder value of every prior company that they have been associated with. They will do the same thing with DKGR.
It is not a matter of "IF", it is simply a matter of "WHEN"!!!
I am expecting a spike up after the interview when those who may be waiting on the sidelines get all excited about the many positive things that the new management team are setting in motion with DKGR.
I think any information on financing would legally have to be disseminated in the form of a PR because it would contain material information which would affect all shareholders. Nonetheless, I expect the interview to be very positive, informative, and forward looking. We may get an indication of when we might expect such a PR though.
I like how Rainmaker summed things up in post #33404.
I copied that information directly from the DKGR intro message at the top of this message board page. If you have not read it, it is a must read. It is quite informative on many aspects of the company, the company's new direction, and the stellar prior accomplishments of the new management team and their intentions for future growth.
"The company has targeted the acquisition of 300 wells in the Appalachian Basin."
"Estimates have the proven secondary oil reserves at approximately 330 million barrels (1 Million Barrels = 1 MMbls) of oil in the Appalachian Basin Reservoir, based on a report by the US Department of Energy, with OOIP (Original Oil in Place) remaining reserves exceeding 60 billion barrels."
With the newly appointed CEO, CFO, COO as well as a new board of directors, and with their wealth of experience in the oil & gas industry, DKGR should be witnessing very rapid growth in the very near future.
Have you checked out the intro message on this board? If you have, you will see that the new Chief Executive, Operating and Financial Officers all have extremely impressive track records. It seems like every company that they have been involved in has seen tremendous growth in a short amount of time. That fact alone should be a great indicator of what is about to transpire with DKGR!
Barchart lists DKGR as Strong Buy.
http://www.barchart.com/quotes/stocks/DKGR
Short volume actually seems fairly substantial.
http://www.dailyshortvolume.com/CompanyData/CompanyData.aspx?Ticker=gdsm
"Pay no attention to the man behind the curtain."
I can't help but wonder if this whole stock dividend business is the shinny object that shareholders are supposed to focus on instead of focusing on the fact that the deal has yet to be signed and funded.
If investing in the stock market was a simple matter of assessing facts and making objective decisions based on those facts, like verifying that 2 + 2 = 4, we would all be very well off.
Unfortunately, investing is more like making an educated guess or a bet based on (A) one’s prior experience in the market, (B) one’s prior experience with and the study of a given company’s history and the primary individuals involved with that company, and (C) one’s ability to take all of the relevant information put forth by a given company and then being able to determine for oneself how reliable that information truly is. However, very rarely is such information carved in stone, and especially not in the world of limited information pinksheet companies like MDMN.
With such limited information, the “facts” can be a bit fuzzy and hard to define. And the process of “filtering out the noise” can also be individually subjective.
Two different investors, such as you and me, can look at the statement below and garner two separate impressions that are 180 degrees apart.
In 2007, President & CEO Juan José Quijano Fernández stated the following in a Q&A in response to a question on whether or not MDMN would be able to conclude a JV that summer. Senor Fernandez responded explaining that he, “is in active negotiations with more than 12 corporations, several of which are combined proposals. [He] is working as quickly as possible to finalize one agreement. With 12 companies involved, projecting a finish date is difficult”.
I look at the “fact” that the above statement was made in 2007 and I can’t help but think that it sounds very similar to what I heard from MDMN throughout most of 2011. I also can’t help but think that it seems eerily similar to what is going on with MDMN presently. You seem to have the ability to read the above statement and see it as “noise” and irrelevant to the deal that is supposedly in the final stages of completion. I look at the above statement and combine it with the “fact” that last year’s deal also failed to come to fruition and I see a company with a history of failure to deliver on their assurances.
There are numerous “facts” which I could site regarding this year’s supposed deal that in my opinion raise red flags. I am sure that you are aware of all of them. To me these “facts” suggest an attitude of caution. Your ability to dismiss these certain “facts” as “noise”, in spite of their potential negative indications, suggests to me positive attitude on your part.
I can't help but admire your positive attitude!!! I don't share it, but nonetheless, I do admire it.
As I said last week, the key phrase in the last Q&A was and remains, "are now being presented for signature".
It has been "NOW" for a while now. Tomorrow, it will have been "NOW" for a week.
.14s could be coming sooner than you think. Things are looking a bit nervous on L2.
This is a fascinating read! My brother and I both had the same reaction. We had to check the dates to make sure that what we were reading wasn't present day.
I find it very interesting that one of the main sources of confidence for the die hard MDMN crew, which was proof positive that last year's deal would actually come to fruition, was the fact that the PPS had risen so fast and so high.
Fast forward to March 2012 and look at all the small share ask painting seen on L2 and that has been going on for weeks, it seems as though someone has found a formula that yields positive results.
One could conclude that as long as the PPS remains high, regardless of whether or not a deal ever gets signed or funded, the faithful will remain pacified and you might even pick up a few new interested investors.
That's a heck of a system. And, if it's not broken, don't fix it.
As I mentioned earlier, I am currently not a shareholder.
It seems as though I am becoming a bit of an annoyance. That was not my intention. I too can't stand reading negative posts like, "This will be at .0001 in next month." Those types of posts have nothing substantial to offer. I have been watching this stock for years and I just wanted to share some of the observations that I find a bit peculiar. I thought that was what these boards were for.
I have been in many stocks where people slap the ask to keep the momentum moving in a positive direction. However, when those stocks retrace and consolidate, there is no one there to stop the carnage. While in such stocks, there is always a certain psychological boost when the ask gets painted up at the end of the day even though your common sense tells you that such a paint is not as legitimate as a 100,000 share buy. It still feels good.
What I am seeing on L2 with MDMN is quite different than anything that I have seen before. Every large sell at the bid is followed immediately with a small buy at the ask. I thought it was worth mentioning as an oddity or something that is not quite right. It very well could be someone not connected to the company who has found MDMN to be a flippers paradise and has learned how to game the system. But then again, you would think that individual would eventually run out of shares to sell. After all, this practice has been going on for some time now.
In my investing, I have always thought that the more information that I had the better I felt about my investment decisions; to buy, to hold, or to sell. The only reason that I follow this stock and read this board is because I think that there is a chance that 2012 might actually be the year that MDMN gets it done. And even though I might be a bit skeptical overall, I have no hidden negative agenda.