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Last week I said that I had been told that there were 2 offers in and a third to come. Check for the first offer in the bank.....some backtracked on that at the end of the week.
Now hearing that back tracking was not necessary. Two offers are in and they are accompanied by checks. I trust my sources on this. They are to connected to wrong. I would guess my original estimate of April 13-17 is still a good one. I would be suprised if it goes out beyond that.
then you know something nobody in the whole world knows......except you.
Lasthope what is the date on the email you got from Greg if you don't mind my asking?
Darth, that wasn't me. I think that's Doc....I ain't that smart.
Indy I hate to say this but I won't miss you....
However, have been told today that none of the other 2 or 3 offers are in. Just the one they came back with from Chile what 3 weeks ago. Don't know where this is going but the thought is that if the others don't hurry up they will accept the first. It is supposedly very, very, very, very acceptable.
Had it confirmed by a source in Chile.....
Is there some reason Indy that you have decided to single me, Geoly and Hand out as being lied to? If you don't like the information we provide go get it yourself....oh wait you can't can you.
If you've been in this stock for more than 5 minutes you've been lied to.........
That may be true but they don't have a 15% net smelter royalty and upwards of 150 million euros being paid up front to mine their property. Superdow please continue to think small that's about all you've ever done on these boards./
No JJ and Les can't sell the company without bringing it to the shareholders. They may own a lot of stock but it has to be put to a vote and they don't own 325 million shares.
Oh and one other thing I think is wrong is Kirk saying look for this to finish arounf the end of the month of April. I can only guess he put that up as an April fools joke. This ain't going to take that long unless somebody down in Chile is just.....well I won't go there.
No later than the second full week in April. April 13-17.
There are several posts over on Mining Play that I think everyone who owns this stock ought to think about as they pertain to a buyout of our position in this JVA, whoever that JVA may be with.
And when you read those post remember this.....THEY ARE ALL WRONG!
Mike has decided that he would be happy with just $1.00 per share. And he is quite correct that 50 x's our initial investment would be a great return.
But and here's the BIG but, look at the size of the mine that they have pictured over on Mining Play. Or better yet go on line and google Kinnecott copper mine south of Salt Lake. And then remember that those mines are less than 40% the size of the property that Medinah and Cerro and Juan own.
Is there mineralization throughout the entire Alto? I don't know and neither does anyone else for sure. And does it go all the way down to sea level. I got no idea.
But if you just do the math there is over 296 billion metric tons of dirt on the Alto. If just 1% is mineralized that still equals 2.96 billion metric tons of dirt. Now the question is....How much is a mineralized metric ton of dirt worth? Obviously it depend on how much gold, silver, copper and moly can be found in each ton. Even if the total is just $100/metric ton you're talking $296,000,000,000. Yes that's billions. Over the life of the mine.
So we get 15% of that (I have heard a rumor that our percentage is now up to 20%), that's 45 billion dollars of which 40 -45% belongs to Medinah. Juan gets 15 Billion (his cut is 33 %), Medinah gets 19 billion and Cerro gets the rest.
Our share is roughly $30/share. Mining stocks trade at 6 itmes value.....no I won't even go there. But my point is that I would hope when we all start thinking about selling out we take a much harder look at how much we are willing to sell for.
Oh and for those of you who wish to check my math I used 120#'s per cubic foot of dirt, a normal cubic foot is 99#'s and I figured quartz, copper and all that other stuff 120#'s per cubic foot was fair. I also used the Alto at an average of 5000 feet. Of course it could be less but since I only took 1% of the total I have to believe it averaged out.
Folks this is a Medinah board not any other stock board....if you need to talk about another stock please do so somewhere else. If we don't delete them IHUB admin will come in and do it for us.
Thanking you in advance for your kind consideration.
B, what we should be doing is emailing Greg. he's the catalyst for all this and he will be the one to get this back on track by just telling us the truth.
Actually, Mediduh, I think posts on this board do work in a negative fashion on the stock price.
I got a call on Saturday from a Medinah investor who had convinced a friend of his to invest in Medinah last week based on the positive update and of course the influx of volume based on that update.
This individual purchased over a million shares back when we were all talking positive talk and having positive thoughts. And then about 3 or 4 days ago out comes the naysayers, the gloom and doomers, and of course the swing traders with their BS and the price goes down.
After that the purchaser called his friend to ask what kind of idiots would get on the internet and bad mouth a stock after the just posted good update and then continue to say bad things about Medinah.
It may not be much but with this stock it doesn't take much to move it.
Guys everyone needs to get on the internet and look up the rules and requirements for pink sheet stocks....there really are none. We can cry, bitch, moan....anything that makes us feel better, but they don't have to tell us anything.
Should they? Yes. Do they have to? No. THey started well when they came back from Chile. Do they need to continue? Yes. Do they have to? No.
I personally would have liked for them to tell us when they got new offer sheets. Each one. If one came Monday just a note on Medinah would be great.
I have had several conversations with professionals who have done deals like this before and they don't see an open ended offer sitting on the table. There has to be some kind of drop dead date. Greg Chapin has made the comment that we are dealing with multi billion dollar companies.....I can not possibly believe that they would leave an agreement on the table that would allow us to come back three months from now and close a deal.
This has to be soon.
Richard, You are da man!!!!! Well said, at the end I was laughing out loud. Reminded me of an old Rowan and Martin routine.
So quietwon, you actually think based on Les' reply that Greg Chapin has got NPER ready to be up and running because of what..........? They're talking about bottled water. If you're so damned smart and you really know something as opposed to just running your mouth, tell all of us what you KNOW....otherwise take that crap somewhere else.
NPER does not own any of the Alto or any of the other Chilean companies (ie. Medinah Gold)....NPER's only claim to fame is 14 million shares of MDMN and the promise of water....
And your point would be Hand????? LOLOLOLOL
It's actually 167 million shares of NPER and they do have 14 shares of MDMN.
None of the shares I am counting George are double. These groups are to spread out to be included in a double.
You are correct.....
I am going to post this again so all of us can chew on it. I personally know 10 individuals who control 450 million shares of MDMN. I know 25 individuals who control 750 million shares of stock.
With 6700 share holders in MDMN and so few holding over the entire float....how many shares do the other 6675 share holders hold? If it's just 10000 shares apiece that's 667,500,000 shares plus what's held by the other 25. I think the average share holder beyond the first 25 I mentioned is probably holding more like 100,000 shares apiece.
Something for everyone to think about.
I would bet that has already been done....
I agree with you Trampas, but they have never been known for their communication skills.
I would hope they now understand it's not business as usual with us but there is no accounting for what's happened in the past and what should happen in the future.
Unfortunately Geoly where have I heard end of week before? I wish we could get some information from Greg.....
There is an awful lot of supposition about what is different this time than in the past. Having been to Chile and spoken with Juan and others, I am of the opinion that the difference is Juan has finally seen the light. If there is anybody out there that doesn't think Juan has been driving this bus for the last forever number of years you are wrong.
Yes, Juan put the deals together as Kirk has mentioned and Les and Greg went down to finish, but I do believe that there was some arm twisting done to get him to do that. Juan's hard work and desire to make the best deal for all of us is greatly appreciated and always will be, but I think the real catalyst to finishing this has been Greg's push to get this over with.
We can debate this till hell freezes over. And nobody in management is going to say or do anything to make the other appear less than stellar. Although HISTORY is written by the victors there will always be two sides to the story. And this one will always have two sides.
Is that like next week next week or next week this week? Are you sure you're not Les in Spanish speak.......??????
Sorry for all the bold print I really ain't very good with this computer stuff....
the increase in the A/S was based upon the anticipated needs to close a deal with Chinalco, when there was talk about a 300 MM shares equity swap. That is reportedly not part of the latest negotiations with the South American group, and therefore, may not be needed at all.
In addition, absolutely no one that I am aware of, at least no reasonable person that I am aware of, actually believed that MDMN was going to issue ever single available share. It always seemed strange to me that everyone was going ballistic over the 1.5 billion A/S but never balanced those concerns with the fact that CDCH, did not make any significant changes in their A/S that I am aware of.
Now, I realize the CDCH is the illegitimate child in this disfunctional family, the baaaaad seed, but one would assume that what is going to affect MDMN would also have some affect upon CDCH since they are Co-conspirators in this JV scam.
And can someone please explain to me why the negative rumors of plans to max out the O/S are the only rumors that count? What makes that soooooo much more appealing than the rumors of a buyback, a creative dividend program, or a $25 MM investment by one of the partners at street values? WHY do we constantly have conversations about the NEGATIVES, instead of balancing them with ALL OF THE FACTS and RUMORS. That is a pathetic world view, IMHO
Okay Richard I will try to answer all of your questions and you aren't going to like the answers but what the hell.....
First the original equity swap you are talking about with the Chinese (Chinalco was a possiblility it could have been Minmetals or even someone else)was in fact a rumor although some would swear it was gospel because supposedly it came from Les Price. I remember personally having a long conversation with Kirk about this and it was supposed to be 400 millionshare equity swap at 20 cents per share followed by a market buy of 400 million shares with a subsequent request for certificates. which would have given the Chinese an 80% ownership of Medinah. The point is moot because nothing happened and nobody knows why. Some say the Chinese never showed up for the final signing. I wonder how the Chilean Government felt about that?
As for those going ballistic over the A/S, those were mainly individuals invested looking for a quick return on investment who had invested based on some good faith rumor givne to them by someone they knew and they probably should never have been nor should they now be invested in this stock. You really have to do your own work and DD and not just sit on the sideline doing rah rah work. There are several of those on MP and they like you only want to see one side of this discussion.
As for CDCH they are a completely different animal. If you don't believe that look at Juans' last update for them. He's paying all their bills and it's obvious at least to me that he's not happy about it. You and I have beat this horse dead....the folks at CDCH are fine men with good hearts, but they really haven't done anything they should hav done to protect their share holders as befits any BOD, penny stock or not. Particularly in light of all the information, true or not true, available.
One other thing everyone needs to think about, Juan isn't negotiating on behalf of CDCH. He's negotiating on behalf of Medinah. If the RUMOR about the $25 million coming into Medinah stock after the deal is closed is correct it will do little or nothing for Cerro and will greatly enhance the value of Medinah. I have been told but cannot verify that Juan is a large stock holder in Cerro. I have personally seen a large number of stock certificates from Medinah in Juans' name. Cerro will get a free ride because of their ownership and I think it will be a while after the Medinah run that Cerro gets a real move only because I think Cerro is not really ready for this. That is my OPINION.
And Cerro didn't make any changes to their A/S because again they really aren't part of the deal. They are not or have never been part of any equity deal.
I also missed the day when someone said only the negative RUMORS about the O/S counted....when did that happen. Again people who either aren't paying attention or who shouldn't be in this investment are taking things out of context and running with them. Some posters on this board are bashers that's obvious. Some just want answers, George is one of those and quite frankly George is perfectly within his rights to question, bitch, whine, moan and complain if that's what he wants to do. That coupled with the fact that George and Handshake are the only ones who have been correct so far. Their batting average is far superior to yours, mine, Mike Golds or Kirks. We have all been wrong. Are we all going to be right? God knows I hope so!!!!
As for facts I truly don't have any when it comes to this stock and that's the only fact I do know. I have the suppositions of some investors who claim Joe Schmuck said this or that. While we all want to believe that what we are being told is the truth or is a fact it is only supposition or rumor or hope. Only Juan knows the absolute truth of the matter. I do know that Juan is real. I think based on my meeting with the man that he is an honorable individual who wants a deal on his terms and when he gets that we will get rewarded for all the BS we have been thru these last many years depending on how long you've been here. But as I have said and I was told by another investor, Juans concerns are not mine and he quite frankly isn't concerned about mine. This will get finished when Juan wants it finished or the supposed JV partners decide to close it which ever comes first.
In short Richard I don't have the crystal ball that you or some of the others on MP have.....I only have the facts and the truth is that all those facts are pretty much just rumor. Either you believe or you don't....I do, but my patience is wearing thin and when it runs out it won't be pretty around the household anymore.
Dear Shareholders:
During the Year 2009, I have continued to maintain the various claim groups of Cerro, including paying assessments and taxes as they became due as well as maintain the Chilean Company, Cerro Dorado (Chile) S.A.
Do you get the impresion that Juan is taking a shot at Cerro????
I do.......
Trampas,
I hate to say this but if you get an update on Monday or Tuesday it could cause you to slit your wrist as it won;t have anything good in it. Platitudes would be about all you can expect.
However don't think that there aren't many of us circling Medinah looking for blood......we are. At some point this will either hit just be another History lesson from Handshake and at that point there will be some blood letting. And it won't be pretty....
I've heard ALL ABOUT IT for the last couple years regarding THIS play, but I'm saying I can't remember hearing about it in regards to ANY OTHER play.
Have YOU?????
Talk about "spewing BS", aren't YOU the guy that said JJ "assured" you he would be drilling "something" within two months of your little chat with him?? ROTFLMAO
+++++++++++++++++++++++++++++++
Fascinating Jack you've never heard of a DL600 since it's required part of deals in Chile over $5 million. Must mean you've never been involved in a deal for this kind of money. Would explain your ignorance.....
What JJ said to me at the end of August was that if we didn't have a deal in 60 days he was going to put his own money up and drill. He's doing that at LDM. Man did what he said he was going to do. Now did he drill exactly at 60 days? No. Never thought he would. But hell if you are of a mind get off your dead ass and head to Chile yourself and get some answers you like. Because it's obvious you don't like mine and I don't give a Shit.
Uneverknow thanks for your kind words. But Jack is a light weight and handling him is childs play.....that's why he's always ROTFLMAO.
You're the only one on this board who has never heard of a DL600......Makes me wonder how much of the BS you've been spewing for the last several years you really know or don't know....LOL
I don't know that she is involved in the JV. She could be since her husband built Antafagusta(?) Mining, but I am told she is sitting on the sidelines with the $25 Million dollars and is waiting for the announcement to jump in with both feet.
As I said that is what I have been told......I ahve also been told they aren't waiting on the government, but waiting on the JV partners. In which case what Les told me was a lie and he is golden.
Hell the whole thing could be a lie and we're all just chasing rainbows......LOL
As for others buying in the volume over the last few weeks could hve been the aunts, uncles, maids and pear pickers buying what they could....the real question is would you recommend this stock to anyone? I wouldn't.....
Les did not say not to post and at this point I could give a rats ass....if I got information I post. I have way to much money involved as do my friends to worry about the content. I just want everybody to be on the same page. I like to think of that as being fair.
And why is it so strange to you superdow? Because Les actually said it to me or because I posted it?
After speaking with Juan almost 2 weeks ago, there have been several things that have come across the radar...
THe people on the other side of this equation are saying they know a lot of things that have not even come across on any of the boards that lend credence to the idea that this is going to get done.
There was a statement by someone with good information that as of 2 Mondays ago this would be done on one of the "next 3 Mondays"...tomorrow is the 2nd Monday in that string.
I had previously thought based on information I had that this was going to get done tomorrow.
I am now looking beyond Thanksgiving because of new information.
Either I believe or I don't.....
What would the price do if they announce the deal with a major group to mine the Alto and the major group was paying 50 million Euros in three separate payments for a total of 150 million euros for the rights to mine?
Sell out Jackrix it's only a hand job.....
I have to much money invested to want to see them crash...instead I want them to get moving forward in a positive direction with serious disclosure to their shareholders. None of us are asking too much....
Actually the "forced disclosure" statement Mike made is absolutely correct. But, and it's a big but, if there is any indication that there has been FRAUD you no longer have to go the EGM route. Hand it over to the State of Nevada and let them handle it. And if you've done your homework you already know who to talk with and what information and documents you need to hand over. Gee I wonder what those would be?