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Grate, I will share what has been postulated:
__company buy back of shares and make it public
__Sell a large block of stock to one of the shorts for them to cover and use that money to buyback shares as the short stock is placed to cover
__dividends paid out to share holders of record
I am no expert in this but personally I like to dividend idea as I hold a large number of shares. Or you can hang your hat on LP's belief that the market will self correct the shorts. I think the beauty of the BOD actively working to correct the short situation is that you will get a artificial inflation in the stock price while the shorts cover.
I personally think this is very ripe for a tender offer and a buyout. Others I know with a whole lot more long term info than I have think the buyout is "sooner rather than later."
Actually, I think the new total number on CDCH makes it about 40 percent of MDMN OS. Not enough to hurt but I think the big deal will be the move by the BOD to cripple the naked shorts which will artifically inflate the price for a little while.
I asked that question myself about 3months ago when I bought more. The real answer is that at these prices it doesn;t matter.
Geoly on my way to the simulator. Will call you when I get out. It's been a long wait but I think we finally made it.
With Codelco signing a deal to provide China with 55,000 tons of copper a year.....how long does it take someone to figure out that with "the volume of identified mineral resources to date, reaches already to several hundred millions of tons" this is not long for the market. Buy now and hold. The buyout will make you very rich.
Brent, I have said this before and I say it again. Jim Robertson is a nice guy but he really doesn't know anything and I mean anything. He doesn't even think that the BOD has a responsibility to the shareholders. Any responsibility!!
We are nothing more than people who have gotten in the way. As he told someone yesterday CDCH was doing just fine as a private company before they bought a public company. ANd maybe they were, but now that they are a public company they really should be answering some of these questions without having to be asked. THis is the same arguement we had about a month ago. What is a BODs resonsibility to it's share holders? Well my $300K says it's alot more than what they are doing now. It ain't rocket science....I do that every time I go to work. This is just about integrity and character. And please don't tell me I don't have the right to ask and if I don't get an answer criticize them for failing in their obligations. I do. I paid for that right when I bought their stock. Do I think they are going to make a bunch of money _____ yes. Do I like they way they are handling themselves and my investment______definitely not. And plesase don't any of you say you can sell....that will not change the necesity for the BOD to act like a BOD.
Aren't we all?
Thanks. I hate to admit it but you are absolutely correct!! LOL. I need the money last week. And it does feel like a crisis. Oh well. Guess I better hunker down for the long haul.
Dave, you have any reliable info on some kind of time line? I know it is unreasonable on my part to expect it yesterday....but how much longer?
Alright, where the heck is everybody? Wake up out there and give me some encouragement. Offer me some good news. Tell me everything is going to be alright. Tell me you love me....well let's not go that far. Hope all had a great Thanksgiving!!!
ANybody hearing anything about a buyout?
Dave, I agree. Just wish I could hear something from CDCH to make it unanimous. This is really killing me.
Anybody got any words of wisdome after the news update on the MDMN board. This is absolutely mind boggling.
I just got off the phone with Etrade. I asked about CDCH and being unable to trade on line.
I was told that the stock was put on a hard watch list as a possible pump and dump and that you could only trade it by talking with a broker. Buy or sell.
I told the guy they had better get ready because the stock was getting ready to go nuts. I wonder what they are hearing?
So....did you hear the one about the 2 monkeys and the football?
This is starting to get very old. Anyone know anything new?
Anybody out there? Hello? Geoly you are always out there. By the way congrats to Rutgers....Did you enjoy the game?
I have been told the same but that is not a good reason for this to keep going. At this rate it could be next year before this gets done.
Well, another day of no news and no info and no movement and no money.....too many no's for me. I did speak with les this morning and he says as he always says he is looking forward to Thanksgiving with a lot of money to spend. I hope that applies to all of us as well. He also said he had a PR firm in place ready to start. Have been told that the major will make the initial announcement and CDCH and MDMN will follow. Let's hope they do a better job after the deal is signed....
I will. I think we can thank Geoly more than anyone else. He was like a pit bull.
Dave, that is all anyone has asked for and more than I expected. Wasn't so difficult was it? My thanks to the BOD for looking out for all of us. That is their job and they obviously are doing it well.
And your point is Rich......?
Brent,
You are absolutely right about integrity and time frames. But I think my post to Dave covers that.
Let's hope for better things. Soon.....
Dave,
thanks for your reply. I agree totally with you that I don't want a fluff PR simply for the sake of receiving one. That is not my desire or my point.
This process has taken much longer than any of us thought including the BOD's of MDMN and CDCH. And it will probably be a good deal for all concerned. I think that's great!
But it doesn't answer for the basic idea that as a member of a BOD, especially for a penny stock, that you have an obligation to all your stock holders to at least give them some info that helps protect the price and at the same time shore up the confidence of every one who has invested in their company. Did you invest here because of the company or the BOD? It doesn't matter. With a penny stock they are one and the same. Actually I am not so sure that the BOD isn't more important to the success of a penny stock than the company itself. No matter how good a company is without the proper BOD it's dead in the water.
As for the idea that MDMN is the one who made the promises that really doesn't fly either. CDCH made the commitment the minute they tied their future to MDMN and don't kid yourself that's just what they did. If MDMN goes in the toilet CDCH will follow. Regardless of how good a company it really is.
I and several others are not asking for a big deal here. Just enough information to protrect the stock price and let the average investor know that things are moving forward and that the company understands our concerns and is doing everything they can to bring this to great outcome for all concerned. Sounds like a lot but I could do it in 2 sentences. And in less than 3 minutes. Is that really that big of a deal? I think not.
We can agree to disagree. I understand that. I have a huge investment here. This is my future. It probably shouldn't be but then again I have never done anything half way. I am all in. This will make me or break me. All I want to know is that those people responsible for the company are looking out for me. It takes 2 miutes.
And I have talked with Jim Robertson. Nice man. Doesn't know squat that he should know if he is going to represent the company. And I left a message with CDCH and MDMN within the last 10 days and no one has bothered to return my calls.
Dave, While I understand yours and Brents' position on this I do think there is something to be said against a BOD that says one thing and then doesn't follow thru. I wasn't at the AGM but enough people have reported that the companies both said there would be updates and deal closings and the share holders would be kept in the loop. And that hasn't happened and it speaks of a lack of integrity on the part of those who made the statements. And if they get upset about that being said then they know they are in the wrong.
I realize that you and Mike Gold have an inside track to what is going on and can get someone to talk to when you want...the rest of us don't have that luxury. I know because I have tried and no one will return my calls. And while I very much appreciate you and Mike keeping us updated there is a valid argument for having the companies do this thru their web sites or thru PR's. It would stop the bickering, let the share holders know that at least the BOD's are looking out for them and add some integrity to the process. This hiding behind nothing is just plain wrong. ANd if the BOD at CDCH doesn't like that then maybe just maybe they should correct it.
So eat, what are you hearing? I can only assume it's the same as me and everyone else. I heard Sumi came off the mountain and will make their offer next Tuesday or before. I have also heard that our "new partners" read the internet boards daily. I for one have had all I can stand let's light this puppy!!!!!
Brent and David, glad to see someone is still around. Just sent Mike an email and have heard just some rumors lately. Some people are speculating that the real buy is coming after the close of the deal. People who can't get if are going to get in then. The movement this morning was me buying or rather trying to buy just over 2 million share of MDMN for a retirement account. Hope it makes me happy very soon.
Have a great weekend!!!!
Is there anybody on this board any more?
One more thing. One broker on the east coast put in an order for 3 million shares of MDMN this morning and there is a micro cap mutual fund that is going to reccommend both these stocks to whoever they recommend to.
Thing from the AGM....Had two people separate (not) from these boards call me about both of the meetings.
MDMN...same as posted here. Share structure just over 487 million, 80 million out this year to pay some bills and cover payments by other to pave the way for digging. Oh and the geologists who did the work own 16 million shares of MDMN. Should tell us all something. One guy thinks Sumitomo is going to make a better offer. Could become a bidding match.
CDCH...also the same as posted here. Jim DeCosta did speak for about 15 minutes and talked about the naked short position in CDCH. DeCosta is close with some of the people in Cerro and I think is going to work with them to correct.
Dave are you at the share holders meeting?
Brent, now that is funny!!!!! And remember that sheep lie!!!
Way to quiet on this board. Let's get it up for a big body getta.....oh wait that's an Auburn cheer. Oh well, WAR EAGLE!!!! I got a new wife, a shot at the national championship, a really good lottery ticket(MDMN/CDCH). It's getting kind of scary. Too many good things at once. Like Alan Jackson says "Too much of a good thing...is a good thing".
Mike and Brent, sounds like this is finally happening for all of us. Congrats to you Mike for staying around all these years. ANd to you and me Brent for being lucky enough to find out and get in.
I do have one request as I will be unable to make the AGM. We, the share holders, need to get a very clear picture of the share structure of both companies. And we need to find out what management is going to do to correct the share structure to protect their share holders and fix the very obvious short position in both stocks.
It is just my personal opinion but I am willing to bet that all the trades in MDMN and CDCH in the last 3 or maybe even 4 weeks have been all shorting. Would you as a share holder knowing something is coming down the pike sell your shares at this price? I dont' think so. CDCH should be easy to correct but I think MDMN will be tougher. Let's hope they are going to do something to get the full value of the deal expressed in their stock prices.
Wish I could be there but will probably talk with you both next week.
Bill
Right now the person feeling bad is me. And I haven't sold one share. Les and the CDCH board need to do something or they will run this price bakc down into the nether worlds. This is crud of a major proportion. Enough is enough.
David, You heard anything about a date? Mike says before the AGM. Geoly says next week. I say light this puppy.
Does my agravation show? I apologize.
Bill
Okay Mike. So do you think that when I get back from Athens, Greece on Tuesday afternoon I will be rich or really rich? I think it's time Les and CDCH got on with this. I have bills to pay and a retirement fund to fund.
Hey Grateful, What makes you think the JV hasn't been completed yet? Let me guess.....
Dave, would that be hope on your part or do you have some inside info?LOL I kill myself sometimes.
Mike, I very much enjoyed the conversation today. Although I think I am more confused than I was before we talked. That however is a good thing! Let's hope some thing good happens very soon.
Bill
AHHHHH! Do I feel better!!!! My new buds are here and we are about to have the party we have been waiting on. Anybody heard anything? I talked with Les Price this morning and asked him if he was going to do this. He said he thought this week. I told him I had an awful lot of money invested in his company. He didn't reply to that. I do hope he does this sometime in the next 6 or 7 trading days. I bought some more CDCH this morning. I would almost swear the MM's are shorting just to sell it.
Let me guess....nobody cares!!!! Where is everyone? Hello? Mike? Brent? David? I feel so alone!!!!!!