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question : "I am just curious how the declaration that JJ also returned shares helps clear the way for an announced JV?"
answer from HR : "I don't think it has any impact one way or the other on the JV and there isn't any kind of sequential cause-and-effect relationship between JJ's share return and the JV that I know of or can think of. "
HR, since you hadn't thought if it, how's this for cause and effect: JJ fails to deliver a jv in 2013 therefor decides to give his shares back for the year. I guess the possibility is so obvious you must have missed it.
For anyone wondering why this year is a bust, doctor "brainwash" decosta has posted an essay over on mp. Nice big fat log jam he's presenting.
this year is toast for adl jv
Still waiting for Rick to post some guidance to the contrary
guilt shares?
thanks Rick, and please accept my guidance :
As much as the updates are favourable for shareholders, the timing of them is indicative that this year is off the table for a funded jv on the adl. As the first of the deadlines (december 1st) was missed,and the log jams started with the death of granma Quijano, it is clear they need to appease the shareholders with everything they can. One can argue that these were material events that needed to be reported, but the timing is obviously un canny. Please accept my guidance and temper you and other shareholders expectations of a jv this year. It is written
more signs of a failed jv
maybe it is some form of protection against litigation considering they never deliver
santa-coals is coming to medinah, again
recently resource miner posted that activity on the mountain appears to have doubled, and everyone jumped on it as great news. For all we know, there are now 2 people on the mountain, instead of one. According to baldy, resource miner has been on point with his information coming from chile. Resource miner was also the one to inform us that no ore was shipping from LDM, regardless of what medinah was telling us about ramping up from 200 tons to 400 tons. And he was also the one to inform us that the only truck activity on the mountain was jj in a pickup truck. When he made that post on mp, it was quickly erased. We wouldn't want people to know the truth now would we?
Rick, now that your " by end of first week in december" guidance has failed to procure a jv, what has your new time line changed too? Would you agree that this year is looking off the table due to the holidays, or have you readjusted your time line to further into december? I think if someone was to ask decosta as to whether he thought we would have a jv in december, he would honestly answer no. I am hoping someone will ask him. Mariner?
I heard the same
and it has been conformed, that JJ is now allowed to ship 20 pickup trucks worth of ore a week instead of 10. It is also true, but not a well known fact, that claro greg and LP cornered JJ at the cantina and pleaded him to to give up control in order to make it look like they could finally close a deal. You are also correct that due to the new rules in chile, the jv has been moved to the new year.
"I'm assuming that Medinah keeps its portion of the $20,000 cash penalty that Serena paid during the summer." -HR
I wouldn't be too quick to make any assumptions, all things considered.
I'm glad this update clearly puts decosta in his place, eloquently asserted by baldy :"To think of all the brain cells wasted with the "in the know Geo's " about the merits of further diluting shareholders to acquire these unproven properties"
latest intel from chile
activity on the mountain has doubled in recent days. Apparently a couple of rabbit hunters have been on the property, illegally hunting on JJ's property. In other news we are expecting an update on ldm because there is no news on ADl other than everything is still on schedule. And still on schedule means missing every date put out there, december 1st being the first one. According to LP, the jv contract is still intact, in other words, too early for a default, this scam has legs.
from jim gold ;
There is no fraud (no one is good enough to keep a fraud going this long, especially not these guys). Oh no? When you combine LP with fraud expert GC and market savy doctor slime decosta, you have the makings of a pretty good fraud team. Hand has faxes 16 years old from LP and decosta claiming a deal was imminent. There is a reason why they went with a criminal partner like ulander. I'm looking forward to ricks revised bell curve now that his current on is doing the bell bottom flop
other than the december ist drilling stated by the company, it appears that all other guidance offered came from rumours. Regardless of where the rumours came from, we all know they were started by LP or any of his promoter friends. Looking forward to your newly revised bell curve, which I presume will go well into the new year. The market seems to be in accordance. Nothing wrong with admitting your bell curve proved inaccurate at best
and to think that Rick's recent shareholder guidance is mostly based on rumours initiated by LP
with this understanding, it is easy to see why Rick's bell curve is doing the bell bottom flop.
lot's of smoke and mirrors
always happens when a deal is due. According to mike, the JV schedule is intact. Generally when they start using words like "intact, onside, contractual obligations" it means things are lot less rosier than they would have us like. Let us not forget how LP convinced us ulander was meeting all his contractual obligations right up until the default. It's going to be coals for x-mas once again, but for the sake of Rick's bell curve, let's let the week play out.
the carrot dangle torture has begun
neither stock is going up, guess it's BS
either that or the deal is already priced into the PPS.
decosta not convinced we have a deal
" Although generating huge cash flow right from the get-go at the LDM would have been wonderful I'm pretty content with the ability to provide a view of the belly of the mountain to prospective suitors"
what prospective suitors would he be talking about when we are apparently on the verge of finalizing a deal with a chosen partner? Now that the predicted log jams have officially started, I have a bad feeling about decosta's premonitions, that maybe there will be partners d, e and f. Get ready for a juicy carrot update this week, and say goodbye to this year for the adl, rick's bell curve is about to do the bell bottom flop.
waldo held back in canada
apparently he was supposed to travel last Sunday, then Monday then Wednesday and now this coming monday again. Some speculate that he went on a week long bender, but an unexpected yet overdue death in JJ's family was the real cause. No need for concern,as the signing parties were not due until this coming week anyways. The volcan boys insisted finalization would proceed thanks giving and precede x-mas, this way everyone gets to maximize their time spent with family. The Quijano family are all too familiar with waldo's party antics,and decided it would be best if he did not attend the week long, chilean tradition of mourning grandma quijano's passing with plenty of red wine and prime chilean steaks. Next week we will see if rick's bell curve does the funky chime, or the bell bottom flunk out.
it appears we may be acquiring some new worthless properties. I suspect this will be the new carrot to tide us past the holidays.
Doctor scam decosta certainly seems in favour of the PG modell
"Every year this week there is a Metals and Minerals show held in San Francisco. Although I didn't attend this year I found this interview of Rick Rule by KITCO to be very relevant to Medinah. The interviewer chides Rick a bit by stating that last year he told her that we're heading into a "discovery cycle" wherein a lot of new discoveries would be made by the junior mineral explorers and she made the case that the juniors haven't discovered diddly for quite some time. He comes back and cites African Oil, Reservoir Minerals and Sirius Minerals which were all in between 10 and 20-baggers.
His message was that although the juniors might not have made that many new discoveries those that did were handsomely rewarded by the markets once the discovery was confirmed. He cites a "bifurcated" market in the junior mineral explorers. You've got a tiny fraction with nice discoveries and then you have all of the rest. His favorite group were the junior "project generators" or "PGs". These are the juniors like Medinah with access to large amounts of prospective properties in mining countries usually via relationships with the "Quijanos" of the world. What the "PGs" will do is consolidate large groups of mining concessions and steward them through the pedimento to manifestacion to mensura stages (in Chile) of property development. We all know the story of the ADL concessions and a similar phenomenon has been going on at the Jota properties where the Quijanos assimilated 6,350 hectares of mining concessions over the last several years and vended in 20% of the action to Medinah, NA.
Since gold peaked in August of 2011, the majors have pretty much shut down their in house exploration divisions and they don't have the local expertise nor time to be consolidating large groups of mining concessions in the various countries favorable for mine development. Yet they need a constant inflow of new reserves and resources on their balance sheets as their existing properties become depleted. Often the PGs end up becoming "royalty streamers" as they accept royalty payments in exchange for the major with the financial and technical expertise to develop the property.
The majors need the "PGs" because of the inordinately long development cycle involved in mining. As the Pierre Lassonde report I've posted many times states it takes an average of 17 years to go from the initiation of exploration activity to production for those fortunate enough to make a discovery. Nowadays the majors pretty much have to grow by "acquisition" instead of organically through their own exploration activities because of these timeframes. So from our point of view the fewer the discoveries to compete against the better. It's only a 5 minute interview well worth listening to.
sounds like all you have are rumours
and we know how those pan put. The other rumour I heard is LP got so drunk he missed the flight. Guess he started celebrating a little early in the day. Happy thanks giving, and looking forward to the next log in the jam.
from rick :
"LP's travels may have been delayed by a day or two, but everything still remains on target."
Don't you think it would be best to wait for official guidance, as opposed to giving shareholders false hope and then having to heavily moderate them when these hopes are dashed? There is zero proof LP is even leaving vancouver, and considering he is a documented liar, why would you give any credence to what he says? All I can say is that like clockwork, the log jam has now officially started, expect a lot more of the same from here on in. It always starts with a little "personal outside issue" and quickly escalates to "the sub partners, yada yada"
Wrong about one thing
As far as rick portraying a long position, and his posting style reflecting his position, I would agree. I on the other hand do not have a short position, my posting style reflects an untinted view of a company that promises and never delivers. I suspect the BOD are about to hit us with a nice distraction to buy time over the holidays. There's going to be a lot of angry shareholders, I suspect some heavy handed moderating over on MP will be due
" As of now, I don't believe we go past December 1st "
I guess as time goes by, you will keep tacking time on to your guidance. Considering we have yet to start hearing any excuses about the sub partners etc, I believe we'll be looking back at this guidance months form now and saying "whoops, we forgot that with medinah, there are always a millions issues" . Looking forward to the first log in the jam which we should be getting shortly.
sorry SteveJ
I didn't mean to sound deceptive, but point taken. I was trying to draw attention to the key words being used, and that they are now starting to pop up. I think it would be a fools errand to assume that medinah is suddenly going to finalize a jv without the usual log jams that eventually lead to a default. We are simply waiting for that first log to hit, and Rick's "by december 1st" guidance will soon be history.
ominous words from geoly :
"I HAVE YET TO HEAR OF ANYTHING GOING WRONG"
tie that in with mike's post earlier today about a new delay ,and you know there are going to be a lot of disappointed people in very short order. Soon we'll be looking at ricks" no later than december 1st" prediction in the rear view mirror,and hopefully celebrating yet another useless piece of property that JJ has secured in what doctor "scam" decosta calls the "project generator" plan.
translation :
no news this week (LP is just heading over to chile now after all) ROFLMAO. Next week we hear about ciclon and any new deals JJ has secured in an effort to make us a PG (project generator) . Hopefully these announcements on all the other deals will excite enough us to bare the fact that no juicy details on the main JV will be announced until next year.
waiting for first round of excuses
mike gold is already hinting they will be forthcoming : "(Or until rumors conclude that a new delay has reared its ugly head)
we have been warned. Thanks mike
next week is a dud
There are still way too many issues to resolve. Soon we'll be looking at Rick's "by december 1st" prediction in the rear view mirror and understand what he meant by misinformed best guesses.
perfect set up for disappointment
As you say, it is the shareholders that have come up with any deadlines based on rumours and assumptions. One would have to be a fool not to know the outcomes of this set up. Kirk is claiming announcement before the 1st of december. Why would he make himself liable for insider trading unless his information is just lespeak? The carrot will dangle until december,and once in december the holiday excuses will take over. There's going to be a lot of squirming going on from the fool me three times camp.
well said. Rick's speculation that someone is holding this down is laughable at best. Any opportunity for LP and his cronies to be selling shares is a good opportunity. Throw in some misinformed rumours and you have a great opportunity.
who? doctor "scam " decosta?
the fact some shareholders have bought over 10 million shares of a pink sheet stock on his recommendation is all you need to know about the shill. "fool me once, fool me twice" those words sound familiar? paddy?
turkey baster buying spree
I'm sure glad everyone did their part with the rumours.. Unfortunately decosta is not of the "this year camp", someone should ask him why he feels that way. Hands obviously concurs, but history has proven his own predictions wrong year after year considering the deal always does the dodo
boom boom, medinah love you long time
usually the silencing of the board, along with predictions of finalizing pre-holidays, is a sign that this year is off the table. Throw in mike's use of the word "intact" IE "It still appears that the rumored JV completion timeframe for the end of this month remains intact", and you know that this year is a bust. I can't blame them for doing everything they can to keep the PPS from sliding further, or hoping for a bump in order to dump on unsuspecting newcomers.
or maybe there were no trucks moving dirt?
It is usually safer to believe the opposite of what the promoters will have you think.
today from Rick H:
"I am still sticking with the JV being completed in November. If I'm wrong with that expectation I can't see it going further than a week into December, but I'm sticking with November."
Let's not forget this is coming from the same person who has wrongly predicted the success of the two previous JV's . In Rick's infamous words" it's a when not an if" . Unfortunately what he didn't understand that it was a "when" the deal went south. I have noticed his tune has changed this time around, and he is now saying "if" the deal finalizes. That being said, do not expect anything this year in terms of jv closure. Ricks near term prediction is a clear sign of what is not about to happen.
and to think mike gold and doctor scam decosta had the audacity to start multiplying those 400 ton shipments, and waved carrots of millions of dollars in front of shareholders. Of course they were trying to distract everyone from the recent ulander scam deal
rick must agree the company lied about shipping ore
I assume his no comment stance says it all. One thing rick should take notice of is that the source in chile may be more reliable than he suspected. The chilean source said no ore was being shipped, the only ore activity seen was jj in his pickup truck. This chilean source could be a good addition to rick's medinah weekly round ups
from rick "no whining = $"
let's hope it works, something's gotta stop the bleeding. We know this year is off the table, they won't fool me three times in a a row that's for sure. Hopefully decosta can entertain us with his great humour while we wait for 2014 to begin
option B, 18 years of history can't be wrong
what's important is that when hurricane starts getting excited about the deal, that we pretend we believe it's for real, and watch the lemmings head for the cliff.
is it 2014 yet?
it is clear that november and december will both be a bust, history has not been wrong yet.