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Mike, the point is there hasn't been an offer accepted. He can have 100 offers with "crazy" numbers in them and if he doesn't pick one then it doesn't mean sqwat. Unfortunately there has been "offers" in hand for far too long without any sort of public agreement being released, how long do you suppose this can carry on for before it becomes obvious that maybe there aren't any "offers" in hand??
I don't think the update is coming out until next week man. I would also like to know who was able to buy in at .0045? Steal of a deal, and where's Momo, didn't he predict .005?? Good one Momo, haha, you were finally right!!!
Hey Blockman, what happened to the .06's??? LOL Damnit this is a kick in the pants, eh?
Thanks for the 2 cents!! Well I guess 4 cents!! Haha.
Is anybody still following Industrial or what?
the old profile basically just said they owned properties in Chile, this one goes a little bit into detail, it's better.
Haha, amazing!
New company profile;
Medinah Minerals, Inc., (ticker symbol MDMN) headquartered corporately in Las Vegas, Nevada, is a junior mining exploration company with mining properties located within the continent of South America, just north of Santiago, Chile. The company’s assets consist primarily in high-grade deposits of gold, silver, copper and molybdenum (moly). At the present time, Medinah Minerals, Inc. is in final Joint Venture Agreement discussions with several potential partners to establish an economically viable bulk mining production operation.
Specifically, Medinah’s chief holdings consist of the Alto de Lipangue and Las dos Marias claims. Medinah Minerals, Inc. claims are registered (Medinah Mining, Chile) and recognized under the Chilean “Mensura” mining laws. The recently expanded contiguous properties cover an area of approximately 10,000 hectares.
The Alto de Lipangue Breccia Mineralized Zone is a very large hydrothermal diatreme breccia pipe intruded at contact between the granodiorites of the Central Batholith and the intermediate volcanics of the Cretaceous "Formación Lo Prado." The granodiorite batholith is deemed to have formed in the early to mid-Cretaceous age and may have been formed contemporaneous with the volcanics of the Formación Lo Prado. The hydrothermal breccia pipe was intruded at later stages and includes brecciated fragments of both rock types.
The Las dos Marias mineralized deposit is different in that it is a manto-type deposit, which is a deposit wherein hydrothermal solutions emanating from a late stage intrusive event, such as the adjacent Alto de Lipangue Breccia pipe that percolated through porous or permeable volcanic tuffs or lavas and deposited the contained copper and other metal sulphides into the host rock. The hydrothermal solutions were able to replace permeable volcanic rocks without causing extreme alteration of the less permeable or impermeable rocks within the stratigraphic column, thus there are horizons between the "mantos" in the deposit.
Medinah Minerals, Inc. also participates in ownership with a 5% interest in the Madre de Dios project located in South Central Chile that was the subject of a recently completed Joint Venture production agreement with Global Gold Corporation (ticker symbol GBGD). The equipment for the processing of metals is now on the Madre de Dios site and being assembled to begin production.
As well;
Medinah Minerals, Inc. is pleased to announce that James R. Stock of Stock Enterprises has been retained, effective September 15, 2008, to coordinate all Investor Relations activities on behalf of the Company. These activities will include the distribution of news and information, responding to shareholder inquiries, interacting with Market Makers as well as the financial community. Mr. Stock will act as Medinah Minerals' official liaison with respect to the maintenance of the Company’s website.
Mr. Stock’s services will be corporately administered and headquartered at Medinah Minerals, Inc.’s new offices in Las Vegas, Nevada.
As of October 1, 2008, the listed Market Makers providing Medinah Minerals, Inc.’s trading services are as follows:
ABLE
Natexis Bleichroeder Inc.
AUTO
Automated Trading Desk
DOMS
Domestic Securities, Inc.
ETRD
E*Trade Capital Markets LLC
HDSN
Hudson Securities, Inc.
HILL
Hill, Thompson, Magid and Co.
MSCO
Morgan Stanley & Co., Inc.
NITE
Knight Equity Markets, L.P.
SALI
Sterne, Agee & Leach, Inc.
UBSS
UBS Securities LLC
VFIN
VFinance Investments, Inc.
Brokerage America LLC
Crown Financial Group Inc
Domestic Securities, Inc.
Wm V. Frankel & Co.
GVR Co. LLC
Hudson Securities, Inc.
Hill Thompson Magid & Co.
Knight Equity Markets, LP
Sterne Agee Capital Markets Inc.
Schwab Capital Markets LP
vFinance Investments
Did somebody say attractive takeover target??
News Story
TAKING STOCK: Paramount set to ride out junior mining storm
By Krystle Chow, Ottawa Business Journal Staff
Wed, Oct 22, 2008 12:00 PM EST
Paramount CEO Chris Crupi. (Darren Brown, OBJ)
Bear market hurting industry, but analysts say company could outperform expectations
With the ongoing turbulence in the financial markets, junior mining companies are hurting for cash, and it's reflected in their stock prices.
Paramount Gold and Silver Corp. is no exception; in the past six months, its share price has dropped from a high of more than $2 to a low of 40 cents at the beginning of October, with news of its $8.7-million buyout of its partner in a Mexico mining project only slightly helping to move its value. Paramount hasn't been helped by its two trading halts earlier this year following suspicions of corporate hijacking, nor by news of a near-delisting from New York's American Stock Exchange.
However, analysts seem impressed with the company's aggressive property development strategy and with the potential of its mining projects. So what are Paramount's prospects once the markets recover?
The company's view: Paramount CEO Christopher Crupi says the credit crunch is forcing investors to dump riskier stocks, which often include small-cap mining companies like his firm.
"Around the world, people are going, 'I need cash now' and are looking at their portfolios. The major funds are looking for liquidity because there are lots of redemptions right now, so they must sell stock to generate cash to pay people back. Some are in bad shape, so it spirals quickly," Mr. Crupi says. "Pretty much every mining stock below a certain size has an almost identical stock chart right now – they're pointing down."
He says the company is more or less ignoring market dynamics, instead focusing on developing its principal San Miguel asset, since market capitalization is only one of many ways to determine a firm's value.
"At this point, the stock market has no connection to Paramount's value in the ground," he says. "We can't control market dynamics; there are strong, powerful forces ripping through the markets right now, but in the long run, we hope (the market) will catch itself back up to the value of the company."
Mr. Crupi says the junior mining sector will likely see market volatility continuing until at least early 2009, although he says he expects the price of gold will break through $1,000 soon, boosting interest in mining stocks.
Until then, though, the markets are an unfriendly place for raising money, especially since there have been few exits to help investors replenish their funds.
Mr. Crupi says Paramount has reduced its burn rate since August to $300,000 per month from $1.5 million, and it's also looking at the possibility of merging with other small mining companies to create economies of scale.
And now that the company owns 100 per cent of the San Miguel mine, that means it's also a more attractive takeover target, giving Paramount a number of options.
"We aggressively developed a resource that was mineable, so we will get a reward for that," he adds. "We have a reason to survive."
The analysts say: In some ways, Paramount's bold approach has been a positive surprise for analysts. "My expectation was that they had the opportunity to double their resource, and I believe they've tripled it. I also didn't expect the Tara Resource (buyout) would happen this year," says Mike Niehuser of Beacon Rock Research, who is in the midst of writing an analyst report on the company and doesn't have a target price. He doesn't own any Paramount shares.
He says the company's strategy of consolidating its San Miguel property position is a good move, and notes that its early drilling results for its other Mexican project, Clavo 66 in the La Union area, have been "quite promising."
Mr. Niehuser agrees that precious metals prices should stay stable or increase in the next while, and adds that the cost of developing mining projects, which increased in the latter half of 2007 and the beginning of 2008, should now come back down again. That's a good thing for Paramount and its brethren.
Meanwhile, Craig Stanley of Blackmont Capital agrees Paramount's additional discoveries were positive developments he had not been anticipating, but he notes that the company also hasn't carried out other drill programs he had expected.
"It's roughly in the middle of the pack (of junior mining companies)," he says, explaining, "Paramount's had nothing yet that indicates it could build a mine; it's had the odd hit, but it warrants further work."
He adds: "Unless it can raise more money, it will be challenged in advancing its project ... but the markets have been seized for the large part of the year, so it's been incredibly onerous of late."
However, Mr. Stanley, who has a target price of $2.50 and a speculative buy rating on the stock, says Paramount is exploring in a great location that is very close to a mine about to go into production, and Mexican authorities have been very supportive of mining endeavours, both of which are factors in the company's favour.
"The governments are good and the geology is good; they just need the markets to get back," he says.
Catalysts to watch: Higher commodity prices; lower development costs; an increase in Paramount's new resource estimate; additional property acquisitions; development work on existing properties; takeover/merger interest; normalization of equity markets; ability to raise more funding.
So MDMN hasn't traded yet today and CDCH is almost at 600,000 in volume, hmmmmmm
You really are a nice guy Block, thanks man!! LOL
Can I be the 3rd party that holds the funds??
there you go again with your price predictions. did you miss the 2.5 mil shares that went through yesterday at the end of the day? I suggest you hold your breath for the .0001's!!
What's in NJ?
Since last Thursday the volume on both stocks has been picking up, if this continues throughout the week I would say we are looking at a good sign of whats to come. The rumors going around suggest this could be it, but then again they are just rumors and don't mean squat.
Quick Block, buy another 250,000 to put us over 1mil!!!
It's nice to see some good volume so far today for CDCH, who's buyin'?
Momo, it seems like you just say more of the same every day. We get it, there isn't a JV yet, there's no point in announcing that every hour. Come up with something new to say and people might not think you're a basher. Although I do find your price predictions humerous, mark my words "you need a hobby!".
It would be nice to at least be at $1.50 again but I guess it could be worse. When is silver going to explode again?
3:30 AM ET, October 7, 2008
OTTAWA, CANADA, Oct 7, 2008 (Marketwire via COMTEX) -- Paramount Gold and Silver Corp. (PZG)(US:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) has engaged Delve Consultants to prepare a new NI 43-101 Technical Report at its San Miguel Project, in Chihuahua, Mexico. The report will be based on all drilling to date in the San Miguel and La Union zones, including Clavo 99 and Clavo 66, based on the excellent drilling results reported during the past few months. This will be a first pass estimate, intended to demonstrate the tons, grade and gold-equivalent ounces potentially present.
From the recent drill intercepts Paramount envisions that both of these zones can quickly be converted to measured and indicated reserves by infill and step-out drilling and metallurgical testing. That would put these two deposits on a fast track toward production.
SOURCE: Paramount Gold and Silver Corp
Yeah, this sucks, I have stopped looking at my PZG holdings in my trading account, every time I do I get light headed, haha. It has to stop some time, it gets pretty expensive trying to average down in times like these.
Did you sell yesterday for .0185?
Instead I think I will email Juan asking for some free pears!! LOL
Gregory A. Chapin GregoryAChapin@medinah-minerals.com
Larry Regis LarryRegis@medinah-minerals.com
Juan Jose Quijano JuanJoseQuijano@medinah-minerals.com
Investor Relations InvestorRelations@medinah-minerals.com
Should I email and ask when the JV will be announced?? LOL
Yes, the answer I got was BS (the one from Admin about the cheeeeese was a little cheeeesy is what I mean). I think KMT summed it up nicely with his 3 ways of looking at it. I think at this point it's safe to say that there isn't anyone with an accurate "inside scoop" and as it has been all along, it is out of the shareholders hands. I am just going to play the sitting/waiting/drinking game for now.
I do have one question, ERNOMAD; Do you really love Les?? Haha.
I think my problem was drunk investing! damn
Well George, over on your former 2000+ post board they are sending out "news tests" via PM's and throwing polls for when the JV will be announced, dates ranging from friday 26th - friday 3rd or a "dont go there" option, in case you still aren't even aloud to view the board (for whatever reason is suspicious). Obviously certain people are pretty hot and heavy that a JV announcement is coming in the next week or so, can't say that I don't want to beleive it. Could we really be that close? Time will tell, history says no! I don't know what to think any more.
Well Block, they did state in one of the Q&A's that the JV would be announced before the years end, at the time I thought it was a little pointless to ask about the years end, and I guess I could have always specified which year, haha. If you look at the big picture, whats another 3 months at the very most!!! I find going day by day with this thing only frustrates the hell out of me, but it's so hard not to with all the rumours. I just hope we don't see Miningplayof2009!! Also, I won't lie, if this drags on another month or 2 I will most likely be picking up more shares, this addiction is way more costly than drugs!!
For the storm that they're predicting I would imagine that any time would be a good time to let it start. Now would be the perfect time to announce, it makes sense that they would make the announcement now, but how many times before has everyone gotten their hopes up? What happens when October rolls around? Everyone seems tight lipped because what else is left to say? What else could be left before they announce, any ideas?
Round, they tossed you from the MDMN IHUB forum?
Well I finally convinced my brother to buy some of these 2 rockets waiting to take off. He works for a big bank in Toronto and has always told me I was getting scammed!! If he can be convinced to buy, then when this news hits this puppy really is going to the moon!! Come on Block, I'm ready for the .60's not the .06's!!!!
Boys, the new toll free number is up 1(877)290MDMN, now you can call all day long for free and ask as many questions as you'd like.
I bet there is already a "sell" in the works, their drill results have been positive and steady. I like your question of how much, anybody want to take a stab at it?
George, I vote you MVP!!! Keep on busting balls and demanding answers buddy!
"next week"!! LOL
Blooooockmaaaaan, where are the .06's??
Hey KMN, do you know when we will see the upgrade?
You're right, there would be no point in doing all of this without a deal. What's the status on our upgrading of our Pink Sheets listing, do you think this is another step for the deal or something MDMN wants to do on their own? If it's another step for the deal then how long until we see this accomplished? I'm still thinking weeks or so, but here's to hoping for something sooner!
Thanks for the info KMN, I was kinda just joking around. However it got me to thinking, if the IR firm just signed an NDA, how long would you suppose it will take them to get up to speed, as well they are just getting the new office up and running and the PR group was hired but doesn't know when their work will begin?, could you say that maybe we aren't as close to getting this thing done as we all hope? I'm thinking we are weeks or months out from seeing an announcement. What are your thoughts?