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all the better that it's a scam
It means multiple times to play it. Things will get boring if they ever deliver, luckily the odds of that happening are very slim, historically speaking.
what said "dumping" paddy ?
quietly unloading is more like it. You don't need to fear monger with medinah, I think their track record speaks for itself. It's a game of hot potato, you just want to be out before it becomes obvious that yet another deal has gone down the drain. If decosta says his gut tells him the deal will go through, then be sure to bail
4.4 million and closes red
insiders are obviously unloading shares. I guess they know something
rumour mil is back up
next week is the one, don't forget to dump some shares
decosta being reasonable
he says this could come crashing down, or we could land a jv. And if we do land a jv, he is pricing us at 8 cents post jv.
I think the calculus for many right now is whether or not it's a better buy today at 5.5 cents pre-JV with the risk/reward scenario being perhaps ultra high risk offset by ultra high reward or immediately post-JV at perhaps 8 cents after the discovery has been validated, the development stage financing has been secured and the access to technical expertise has been gained and maybe the risk reward scenario might be characterized as being low to moderate risk offset by ultra high reward.
The answer to this would differ as to one's own level of risk aversion as well as one's projection of the share price after the development efforts are completed. The "big money" is the "big money" because they place their bets proportionate to the CURRENT risk/reward scenario and they (unlike us) have the patience to wait for a favorable ratio and the ability to discern what the main risks are and more importantly when they've been mitigated. What the hope in a scenario like this is the ultra high risk factors all being simultaneously addressed with the simple execution of a JV and those risks all crashing to the ground leaving a favorable risk/reward calculus up until fair market value is eventually reached.
no need to make excuses up for the company, they do great on their own
Another week down the drain, while LP's latest lies fade away in the distance. This week he is simply keeping his mouth shut, shareholders are ruining his drinking. There's nothing like a good drink to clear away the guilt, as shareholders clamour for the carrot. Is it next week yet?
"Couple that with the "manana" way of doing things found in the Latin countries and this story can get old in a hurry"
I would be careful with those stereotypes. I think you would have better luck blaming the fact that LP is a known fraudster (think the widows) in understanding why this company never delivers. Seeing as the company has offered zero guidance as to where we stand with this jv, only lies from LP, I would say things are not looking rosy at all. Just a matter of time before we are talking about partner D
thanks Rawnoc
I'll admit that that wasn't always your opinion, but glad to see you came around and realized this was a scam. Some folks come around sooner than others
you missed the point. I wrote "there is nothing in decosta's posts that indicate we are close to closure. " In the context of what every other shareholder is saying, one in particular (decosta) has not said we are close. That was my point rick, and I corrected dnicke. You yourself have been dead wrong as to the closure of this deal, so maybe you are not reading all the signs? You have to read between the lines with medinah, in a case you didn't know. You were wrong about the two previous deals closing, so something isn't adding up in your due dilly
actually, can you cite specifically where Dr. Decosta states or creates the impression that Medinah IS close to a deal?
I think decosta knows LP is lying through his teeth, and prefers not to get involved with the lies. Considering how close the two are (remember chummy photo of the two at AGM), or at least his proximity to the company, one would think he would be the go to person to corroborate the validity of the rumours. Rick, to prove my or your point, why don't you ask decosta if LP is going to peru shortly, and why he believes this to be true or not. I don't have an account over there, otherwise I would ask him myself.
And by the way, I did not say that he says medinah is not close to a deal, I was talking about finalizing a deal. Medinah is always close to a deal, heck they seem to have 5-6 suitors constantly nipping at their heals in case you didn't know. But closing a deal for adl? It's never happened.
from dnicke40 :"Hulk, based on some of the great DD of a few shareholders on this forum, we've got every reason to believe the JV deal is just about complete. If you haven't been reading, you might want to. Check out the posts by cornhuskergold, geoly37, Hurricane Rick, GC Capitol, brecciaboy, bald eagle and Karl - just since yesterday. Even if you only read their posts and none other, you will get a lot of information and will have a greater sense of content that this is happening any day now. "
One big mistake he's made on his list: Brecciaboy AKA doctor "scam" decosta. As I have posted earlier, there is nothing in decosta's posts that indicate we are close to closure. Rick has been hailing "close to closure " since november, but as he has seen, nothing could have been further from the truth. Decosta does not seem to think we are close to anything,and seeing how close he is to the company, I think it is worthy of note. Also, I have noticed folks are talking about LP travelling to Peru. One has to ask themselves, where did they get this information? The answer is from Les himself. And what has Les proven to be? A compulsive liar.
JV doing the dodo dance
we are starting to get into the translation excuses. Last week it was LP travelling, yet some how that excuse still has some legs. It appears we'll be playing where's waldo, mixed with every other excuse under the sun for a while to come. This week is officially off the table.
contact the company Rick, let them know of their fraudulent behaviour
"Industry Guide 7
The specific disclosure requirements of Industry Guide 7 under the Securities Act and Exchange Act apply to all issuers, including small business issuers, engaged in mining operations. Guide 7 is applicable to all mining companies, not just small business issuers."
http://www.sec.gov/interps/telephone/cftelinterps_indguides.pdf
The term "Issuer" means any company that issues shares to the public. That includes non-SEC registered and reporting companies. Claiming reserves without a final (bankable) feasibility study is fraudulent. Quite a few reporting and non-reporting companies have been nailed on that specific issue.
only if you sold
as far as doing DD on this stock, I think most here know all about medinah's miserable track record of promising and never delivering. Sell on the hype,and you'll do fine. Hang on for the pie in the sky, and you end up like the miserable longs who get fooled by medinah lies, time and time again. Folks are getting weary though.
delusions are high
from karl :"Hopefully there will be a major press event with dignitaries from both Chile and Peru when everything is official."
this kind of talk always precedes a failed deal.
notice how decosta is the only one not excited?
I have a feeling he knows more than other shareholders, and he certainly doesn't appear to think we are on the verge of any deal. I assume he knows all the rumours are lies, and simply basking in the opportunity to sell his cheap shares.
relax everybody
It was supposed to happen this week, but volcan CEO decided at the last second that he wanted to meet the notorious Lester Price in person, hence the confusion and delay. My sources says there are now two signatures needed, but it is unclear who the second signature is for, so the BOD will work on that next week. A lot of good rumours out there, apparently this is a much bigger deal than expected. The end of the month should bring closure, but as all thing medinah, things never pan out as expected. The twitter office will remain on high alert over the weekend, in case there are some fools out.
there won't be any adl closure announcement anytime soon
If they do release anything it will be along the lines of "everything on schedule, blah blah blah" They will though offer the new and improved LDM as a distraction . It's the medinah carrot exchange program. Everytime one carrot is due, they offer the other one, but bigger and better than expected. Of course they never deliver (IE massive highway trucks moving tons of ore ) on anything that was promised, but the trick seems to work. Judging from the cues the promoters are handing out, there doesn't even appear to be a deal for ADL. Or if there is, it is so sketchy they need to delay it as long as possible before presenting it to shareholders. Same old medinah games going on, with traders looking to cash in on the hype.
friday or weekend makes sense considering it won't be good news.
That always gives the promoters the weekend to turn the bad news into good news.
january is off the table
"if things go as said" translates to "things never go as said" . We knew last week that this week would be a little back channel pump and dump, and it was.
from geoly ; classic example of how LP keeps everyone in smoke "
geoly - "LES WILL HAVE to travel to peru so thats the indicator!!!"
2 minutes later from geoly again "bottom line is LES has to travel to CHILE to sign a deal."
He seems a little confused as to where LP has to travel to. And then from BE - " Les does NOT need to be south for a deal to be announced"
ROFLMAO
mike gold is doing stock promotion :
tweet @TheMiningPlay: Trading Alert on Medinah..Ask at .059. It appears to be due to speculation about a pending announcement on a JV with major miner.
Major miner? Sure mike
LP's lies need to be accompanied by some buying
otherwise no one will fall for it. As far as reliable sources on medinah, good luck with that one. Everything goes back to LP eventually
I remember that
We were told that the JV was a sure thing, LP renting the celebratory limo proved it. But since they didn't have his favourite colour, the jv was delayed until next week. And then one of JJ's family members died, so things were delayed again,and eventually the deal fell apart due to shareholder inquiries
latest update from geoly!!!!!
"Small problem of LES having to be present or not(doesn't make sense they wouldn't know this before this week but what ever) If he has to be there a few days delayed for him to be there if not RUMORS have this wrapped up in days!!!" ROFLMAO
So the latest game of where's waldo is " does he need to be there or not?
-Hmm I don't know, does he?
- I don't know either. Let's ask volcan?
- OK good idea, but they are off work right now.
- Ok, let's ask tomorrow.
- But, how about les's plain ticket?
- Maybe we can get him in on standby?
- Ya, and he can still make it on time.
- Ya, but where is he flying to?
- I don't know either, we'll deal with that later
- good idea,let's deal with these issues one at a time
market thinks LP is lying
Can you blame it? The rumours I've been hearing is that nothing has come up YET. But in reality, what are people actually expecting? A finalized JV? How ludicrous. Let's not forget that we are still in the multi month, multi stages of closure. The company hasn't even begun to tell us what these stages are, yet alone if we've gotten pass stage one. If the frustrated shareholders do start selling as reported, there will be plenty of time to get shares cheaper.
this week is a bust
the company has not offered otherwise. But expect the ldm carrot to keep growing, deocsta sure is helping out on that front. I wonder why?
rick, it looks like the shareholders are taking the ldm bait
"LDM news should be very interesting to say the least.... Bring it on"
Throw in some safety issues for good measures, and this week we are good to go for no jv closure on the adl . "Soon, berry, berry soon"
wrong "which purportedly will not occur until after the ADL joint venture has been completed"
Rick, you seem to miss the point of the sudden LDM interest and photos. They are doing their usual carrot switch. They will not have any positive news on the adl front, other than the usual (all is on schedule , crossing t's BS),and that is why the sudden LDM interest. They need to distract the shareholders from the gorilla in the room,and LDM has traditionally been the means to do it. Watch and learn, next week is adl bustaroonie
I'm slow Beth
Of special interest today is Geoly's post "things are still looking good. HANG tight this is about to go positive again!!
THIS time should be it"
A couple of key words " still " looking good, and "should" be it. As in all things medinah things STILL look good until they don't anymore. Like LP telling geoly on the day of the default that the jv was coming. It's always coming until it isn't anymore. And let's not forget LP continuously telling us that ulander was "still" in compliance. Will this be a head in the sand weekend, or will the anticipation of next week be a cause for much celebration? I'm thinking it will be a head in the bottle weekend, and the hangover starts on tuesday
I'm starting to question whether the company's use of back channels to communicate to shareholders isn't a way of protecting themselves against legal action. In the past their MO was to officially promise and then never deliver, but we have heard from shareholders the possibility of legal action if the BOD continue in their old ways. That could be why we haven't heard zip from the company, yet the rumours abound. Silence is golden for those seeking protection against liability.
do you agree LP is a liar?
or would you say that when he told geoly that the jv was coming the day it was defaulted, he meant partner C? I can pretty much guarantee that there is going to be a lot of disappointed shareholders next week in regards to alto, as the only thing they have to base next week on is rumours. Lp saying it's coming this month is almost a give that it won't. The back channel rumours of "almost there" are more of the same. What we will get next week is an update on ldm, and how swimmingly well things are going there. It's the carrot exchange program, prepare yourself for the BOD pitchforks.
looks like the lDM carrot is being prepared
Unless one is foolish enough to think that next week we will get some closure on the adl, it appears the LDM carrot is being prepared to distract shareholders from the gorilla in the room.
ominous words from mike gold :
"all remains very well indeed" Usually when they tell us that things "remain" intact, or "still onside", it's because the deal has YET to go south. Historically speaking it always does go south, but usually preceded by comments like "still" good. According to some sources, there has been some toe stepping going on behind the scenes. This is code for the deal may go south. The fact we have heard almost nothing at all in regards to any deal from the company, leads one to believe that things are not all that rosy in medinah jv land. I have a feeling we'll be hearing about a change in plans very soon, the recent posting of LDM photos being the possible seed. According to Rick .04 has traditionally been the line in the sand demarcating whether we have a deal or not, so it looks like we may not have a deal after all.
things are all set in motion!
We are entering into the multi stepped closure phase, and the market is reflecting it. We have many, many steps to go before going into the "final stages" of money transfer. Like decosta says, the lawyers are doing a lot of heavy scrutinizing, making sure that no party gets screwed in a contract that could span the mine life of 20-30 years. This deal is so huge, we are clearly months away from final stages of money transfer. Heck, the company hasn't even mentioned a word of money yet.
Consider it another gift to the longs,as the inherent delays of signing a contract for a mine of 20-30 years will toll heavy on the PPS.
silence is golden? ROFLMAO
we've all understood the spiritual gains to be had by being put through the medinah torture tunnel, 16 years of "next week " flagellation has served many well. There is nothing like losing friends and family to finally be alone with our inner selves, and ultimately our creator. But shareholders are now realizing that medinah not coming through with a jv has health benefits as well. From mp :
" silence is golden, because quite frankly right now an Announcement would give just about everyone a heart attack"
Thank God medinah never delivers, lives could be at stake of they did.
"There will probably be some unavoidable games of "Where's Waldo?""
forget about waldo Rick, in your own words, I don't think it matters anymore where waldo is, so I would discourage any talk about"where's waldo". As far as being close to finalization, I think you are forgetting that we are barely heading into the multi stages of completion. Key word: Multi . That translates as multiple months, historically speaking that is, and after all, history is all we have to go on.
great news from mike gold!
"I believe the multi step closing process commences this week"
multi steps, means multiple issues! Yay! Can't wait to hear how the logs start jamming up, while decosta praises management in the background
we knew LP read the forums
but your post officially removes all doubt. I can imagine after every brainwash post in defence of the BOD that decosta makes, LP is wondering to himself "did it work, did it work?" while chugalugging his favourite cocktails.
a perfect answer to your defence of decosta's 20 /20 hindsight argument from baldy to decosta :
I'm disappointed. You manage to contribute a few very constructive posts delineating the "history' of claims and this investment only to follow up with the comments above that help remind most of us that you are at a complete loss of objectivity when it comes to this BOD. Why do you insist on recreating the Ulander situation when most of this board was able to see the issues with the Ulander empire (or, in your words the "Yankees") within months of the Amarant announcement?
Dr. D, you have such a incredible wealth of knowledge for the mountain. I would suggest you set some of the geology aside and dedicate your "research skills"/efforts to matters related to the actual business and/or investment. You may not know that our BOD was oblivious to the unfunded debt offering by Amarant until shareholders informed them of the same. You also be unaware that our BOD had NO idea that Amarant was not honoring their pending deals with several other mining entities, for 6+ months, until shareholders call the BOD and informed them of the same. "20-20 hindsight"?? You must be joking as a few minutes on the internet (keyword: Amarant/Ulander) would have raised more flags than a 4th of July regatta.
To infer that the Ulander situation was an unfortunate, business as usual, uncompleted deal, that our BOD couldn't have anticipated (not to mention Partner A) is candidly, an embarrassing suggestion.
Naïveté and unfounded accusations? Please don't make me go back into the archive and pull your posts (the tank will offer little in protection).
Thankfully, JJ has finally been sidelined (another thing you probably don't know) and people who actually care about the investment over the dream are handling things. Here's to the "New Medinah" and a profitable January.
you are wrong rick
name another shareholder who gets introduced with the BOD :
"Greg Chapin (Director) acted as Chairman of the meeting and introduced Juan José Quijano Fernández (Company President/Director), his son Juan José Quijano Claro, Les Price (Company CEO), Dr. Jim DeCosta, Dr. Steven Kleen, and presented apologies, voiced to the gathering, on behalf of Larry Regis (Director), absent due to recent medical issues"
your defence of decosta, the BOD and medinah is becoming tiresome for those using this site for meaningful due diligence purposes. And for the record, most shareholders already knew ulander would default, decosta was the only one saying weeks from the default he still believed ulander would fund. I wonder why?