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Sounds like the scam of the century Raw. I'm sure glad this was taken down to a level that I could buy more as my cost basis is now $1.25...SWEET!!!! Ready for the pop. Just popin'
You only lose money if you sell. However if you let things play out you will sell for a profit. Just profitin'
Are we rich yet? Just kidding Raw, but between JBII and that other stock we will be soon enough.
My point exactly Raw. Someone coming on a board and giving a "Strong Sell" signal at this point in the MDMN adventure obviously has no idea where we are in respect to the big picture.
Between MDMN and that other stock that we are both involved in I find my anticipation level almost out of control. Processors or refineries...refineries or processors. I like my odds on both.
Anyone that takes their investment advice from an anonymous poster on a message board should have their head examined.
If on the other hand you choose pay attention and understand the DD that has been done by the more intelligent investors of Medinah Minerals you will understand that the mountain is FULL of precious metals that given today's political landscape will only go up in value.
This story goes beyond just MDMN and has to include all Jr. mining/exploration companies. The major miners are running low on in-ground metals and they need to expand their portfolios to keep the shareholders happy. They do that by buying stakes in companies just like MDMN. It just so happens that we have a killer piece of property ripe for drilling in a country that is probably the most friendly to mining and at an elevation that can produce year round.
The elevator is loading up. Time to get on board.
My only point is that there are some big hitters that have done far more background investigation than is ever talked about on any message boards. Fortunately for me I know these people personally and trust what I am told because of their knowledge and experience in the area of mining. People can denigrate management all they like and to an extent it is deserved but it has nothing to do with the underlying story which is that mountain is chalk full of gold/silver/copper/moly/iron and if you don't think that those 5 metals have any value in today's economy then that is all you should base your MDMN investment on. If however you think that these 5 metals have immense value going forward...well then Medinah is an elevator that is sitting on the bottom floor right now but the motor is being fired up and the top floor is coming rapidly. All aboard.
I have absolutely zero worry of this play being a scam because I have done my DD and believe in the company. If anyone believes that MDMN is a scam it would only be prudent to sell and move on wouldn't you agree?
I have never posted on SI Mr. Mong.
As for your cost basis I truly believe that you will be rewarded and look forward to your excitement as this plays out. Anyone that chooses to pay attention to the DD that has been provided on various message boards will understand that we are indeed very close to funding of the ADL.
Everyone should also take into account that this is a pink sheet Jr. mining/exploration stock and as with any company in that arena there is an inherent risk.
Negative. I have all of the shares that I need. My average is below 3 cents as I have been a buyer since mid 2006. I have sold some over the years to recoup my costs and am now playing with house money.
Patience is a virtue my friend. Those with patience will be handsomely rewarded. Thankfully I have a great job and am not dependent on the outcome. It all boils down to which side of the belief fence you sit on.
Awesome information Rick but what is a porphyry and a skarn?
Never going to happen. Does that answer your question?
The cut off for refining 5 g/t is NOT an industry standard it is simply the cut off grade used by the state refiner Enami down in Chile that Medinah will be sending our 20 ton trucks to. There is a small refiner where I live that caters to small miners and they will take anything.
Jumping to conclusions and speculating. Sounds like every conversation that I have read on this board for over a year. Par for the course.
Here is some great advice for anyone thinking of buying MDMN before the announcement...
"don't buy or sell stocks based on the day's headlines. Ignore your emotions and buy stocks because they represent a good long-term value."
Warren Buffett 5/7/12
Long term value, as in a 30 year mine loaded with GOLD/SILVER/COPPER/MOLY
nuf said!!!
I don't see anything on the official Medinah Minerals website where they stated that the deal would be announced four months ago. The SHM was Feb 12th. By my calculation that was less than 3 months ago.
As for contingent partners, why not? I can't see anything wrong with having a back up plan, do you?
I also don't see anything about litigation with the current partner. Can you provide a link to that?
The only ones looking away from the Alto deal are the people that think this is a scam. I can assure you that no real investors are looking away we are simply enjoying the great news on the LDM which will make Medinah a capitol company in short order.
The share price will work itself out but it looks like it's above 12 cents right now. What does your screen show?
You are wrong on all accounts.
I am a long holder and my cost basis is below 3 cents. How am I doing?
If you understand the dynamic of the property you can easily see how this goes to $5 and beyond. It will take time but that is the nature of the mining business and this still remains a highly speculative stock. Although the risk is dropping precipitously by the day.
The ADL being in trouble is YOUR OPINION and should be stated as such.
You are right on the LDM however. It looks like we sold 1 of the 10 claims that comprise the LDM. CMLDM will bear all the costs and MDMN will sit back and collect the dough. God I love that business model.
Pay attention folks, it's about to get real good around here.;
All we did was sell 1/10th of the claims at the LDM to Compania Minera LDM of which we own 20%. In addition we will receive 30% net profit interest without forking over a single penny. Not bad. They do the digging and we collect our percentage of the money AND we still own 9/10th's of the LDM property outright. Really not bad. Can't wait for those assay results.
Don't count me in the group that thinks there will be no announcement of the closure of the deal for the ADL. I firmly believe that there is a deal and it will be announced in short order. Meanwhile the news out of the LDM is very positive. 20 ton trucks of ore will be rolling down to the Enami factory for processing at a minimum of 5 g/t. Cash will soon be piling up in the Medinah bank account as we don't have to pay a single penny for the work being done. Make money money, make money money.
I guess it pays to do your homework when investing in a penny mining stock eh? I mean why throw good money at a bad product.
Would you mind explaining to the group exactly what it is that Jim Decosta has lied about. You seem to know an awful lot about a man that you have never met.
For those of you that are interested Dr. James Decosta is one of the most stand up people I have ever met. He has been doing my teeth and my families for over 20 years now. There is no truth to the lies about him whatsoever and I dare anyone on this board to prove to me one instance where he has lied. Go ahead and show me. I'll save you time however, because you won't find any lies. Just because he has a greater understanding of the mining world than just about anyone on this thread does not in any way make him a liar. In fact if you read his post he has always said that there is no deal until the money lands and until it does this is just another highly speculative stock.
I'm waiting patiently for the proof.
Mining activity has already commenced over at the LDM site. Money will soon be rolling in by the truck load.
Myrtle...are you proficient with Chilean mining code?
My next best guess is May 1st through the 4th.
Do you think that the partner is having trouble raising their initial drill program from $5million to $7million? And again please find me an example of one deal that was announced prior to drilling ANYTHING!!!
Can you find me an example of one mining deal that announced a specific month that they would announce a deal? I can't seem to find one.
Would you or Hey please post an L2 snapshot.
And the good thing is that JJ didn't have to fork over a ton of shares to get all that property wrapped up in to a 10,000 hectare hill. That is what I call looking out for your shareholders. Soon he will be paying us back with interest. Looks like a grand slam walk off homer run to me.
A clear mind, after reading and understanding the scope of this project, will lead you to the conclusion that a 30+ year mine will vindicate all longs. Soon my friends, very soon.
Much hard work has been performed by JJ and the BOD on behalf of the shareholders. That hard work is about to be realized. The Following PR machine will let the world know about the project and then the big money investors will line up and create a world of pain for anyone on the wrong side of this trade. Now that will be sweet music to my ears.
Then again if you have read all of the historical geological data that is available you would know that that 10,000 hectare HILL is full of gold/silver/copper/moly/iron. The first trucks of ore will be heading down to the Enami factory very soon and the checks will start rolling in.
By the way, how long do you think a company like Enami would allow a company like Medinah to use their name on the Medinah website if they were a scam as you purport?
The first quarter of the game is in the books. When this world class discovery is announced to the world and a mine with 30+ years of life starts puking out gold/silver/copper/moly/iron then all the longs will be vindicated while sitting on the beach of their own private islands.
Just my opinion but I believe that we will get some kind of news by the end of tomorrow. It may not be the announcement we are all looking for but it should provide some clarity as to the LDM work and the recent trip to Chile.
While the LDM news has fallen on deaf ears in the market those of us the understand the property and the mining industry as a whole know that this is huge for Medinah as a company. When we start receiving regular checks from Enami we will be in a position to dole out increasing monetary dividends which will put those on the wrong side of the trade in a spot of bother.
It's been a long rode but I look at it as being then end of the first quarter of play. We spent 14+ years buying up a huge piece of land. the next few years after the announcement will be the start of the second quarter. As we head into halftime we will have drill results from our partner and that will move the needle in a big way. As we come out of halftime the actual mining will commence and the checks will be rolling in in rapid fashion. A buyout will follow in short order.
I can only speculate but since the update came from the LDM and not the Alto then one would conclude that it has to do with the JV that is now in exploration mode at the LDM. Compania Minera LDM Chile as stated in the last update is the current JV group working on the LDM area.
SHAREHOLDER UPDATE
April 20, 2012
Dear Shareholders:
Medinah Minerals, Inc. Management is pleased to report an update from Compañia Minera LDM Chile representatives as to developments at the Las Dos Marias mining project in the Santiago Region of Chile. The mining project is designed to drift a tunnel into the gold-bearing structures discovered in the previous diamond drilling intersections of high-grade gold mineralization, and is proceeding.
Super, by now you should know that only information that appears on the official Medinah Minerals website should be trusted. All other nuggets of information are simply rumor.
The company told us they were working on the LDM and what do you know, we got a great update on the goings on at that part of the mountain.
The company told us they were in the process of hiring a new attorney and what do you know, they reported the hiring of said attorney.
While we would all like the BIG announcement it is best to remember that there are many balls in the air right now and things are moving quickly. We have a 4 man team trying their best to get this done in a timely fashion. This isn't some huge company with a marketing department or an HR department or Senior and Junior management.
It looks like we have the basses loaded with JJ coming to the plate. For some reason I think a grand slam is in the works.
Now that is a nice pitch. Did I hear JB correctly when he said the cost for each new processor would be $587K? How does that compare to the perceived competitors? Agilyx?
Do you have proof of that? I'll answer for you, NO. I only know that because I know who Sherwin Williams is and it's no one with ties to the company
Some will want popcorn no doubt...
Others will want Pampers starting with Knight Capitol
I guess you did not read the latest update on the LDM did you . The game is bigger than one piece of property my man.
Just got home from shooting an 84 on the beautiful Black Butte Ranch Big Meadow course. Wow what a day. And what a day for Medinah. If you don't understand that update then you have no business playing on this field. Mucho gold on it's way down to Enami with checks to follow. Make money money, make money money. So that just leave the ADL deal which I think will happen Monday. All longs are about to be vindicated.