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I've heard from a definitive source...next week is the big week! But if that doesn't happen, don't worry, there's always another next week waiting in the wings. Imminent news is upon us!
That's a blast from the past lol. I see this scam has finally hit the double zeros...I'll swing by again when it hits the trips which shouldn't be too far off given the death spirals and the scammers running this sorry excuse for a company. They should probably dredge up old monkey boy, he's probably good for a decent pump 'n dump - at the very least, he's good for a laugh.
In a nutshell...
(1) Become a principal of some non-SEC reporting pink sheet company.
(2) Cobble together a bunch of gullible investors and unleash them on internet message boards.
(3) Issue yourself as many shares as possible without raising the eyebrows of the SEC.
(4) Spread some rumors to your band of faithful followers and let them be your mouthpiece on the message boards. They'll pump the worthless stock and you enjoy plausible deniability.
(5) Watch the price appreciate as greed takes over.
(6) Sell your free shares but tell everyone you have no idea who is selling
(7) Rinse and repeat...been working for 20 years, what makes you think he's going to stop now.
Last I heard, Les was drunk and sending out on of his insider shareholder updates. I'm sure all kinds of wonderful things will happen "next week".
On to other topics...speculation has run rampant on who has been unloading shares on the market like a man empties his bladder after a hard night of drinking. Surely Les, JJ, and the rest of the miscreants should be done dumping their shares. Unless that share cap was a farce...
Great example of how a real company does business.
http://www.northernvertex.com/s/NewsReleases.asp?ReportID=711300&_Type=News-Releases&_Title=Northern-Vertex-Announces-Feasibility-Study-Results-for-the-Moss-Mine-Proje...
It took them 4 years and 6 different consulting companies, not to mention a ton of money to complete the feasibility study.
The initial cost to build the mine will be $33 million.
Now compare that PR with the crap that regularly comes out of the MDMN BOD. Even Auryn doesn't hold a candle to this type of well-written missive from a professionally run company.
Remind me again, how much money Auryn has spent proving up the mountain and how many decent PRs have they issued?
Business pros? I suppose if call destroying shareholder value professional business, you have a valid point.
Does phantom office space constitute professional business?
Does lying to shareholders constitute professional business?
Does jumping into bed with a known criminal constitute professional business?
I'm not concerned at all and frankly I could care less if Les or the BOD tell shareholders to FOAD. This is a stinky pinky which is why it is so entertaining.
True but if there is no wrongdoing on the part of the BOD, they should welcome the opportunity to clear their name and finally put that disgruntled group of shareholders in their place.
Why is there resistance to a shareholder funded audit that would definitively answer the question: are the insiders responsible for the current wave of selling?
Les is beyond reproach correct? I believe you have stated that on several occasions. Why would he balk at the opportunity to prove what a man of character he really is and do so on the shareholder dime. It costs him nothing - open the books and let an accoutant verify that he is as pure as the wind-driven snow.
Good point. Those auxiliary documents have yet to make an appearance. Maybe they detailed the insider share selling enrichment scheme. Sure would explain the heavy selling that has been throwing a wet blanket over the share price. Personally, I don't think they ever existed; Les just used the hype to continue the con and keep the faithful believing in the mountain.
I'm still trying to figure out where the "massive hi-way rigs" that MDMN crowed about in an update 18 months ago ended up. I suppose they got lost but I'm betting MDMN just lied.
That's not entirely true. We shouldn't confuse people who went down there.
Dr. Kleen traveled to meet JJ and released a video of his findings. I'm not sure if it is on youtube but it was posted at the other site. I'm sure it is still there. As far as I know, Dr. Kleen is still a shareholder.
The man I think you are refering to did go down to Chile and met JJ. He was unable to tour the property but thought highly enough of JJ to buy several million shares in the company. On a second trip, he asked to meet with JJ because he had some additional questions and some concerns. JJ refused to meet with him and essentially cut off all communications. He saw the writing on the wall and exited his position. I spoke with him while he was in the process of selling millions of shares. He was very careful and used a liquidation strategy that had the lease impact on the share price. He still had friends invested in the company and didn't want to affect the value of the their portfolios. This all happened around 2010 - I still have the emails.
Yes this is hearsay and rumor. He sold a lot of shares, made a lot of money and never looked back.
I've posted about this before.
07/04/2015 04:49:56 PM
We can't verify revenue since their financial statements look like they were put together by a group of 3-year olds. Oh and did I mention they are unaudited. MDMN can make anything up and report it as revenue and there is no way of verifying their claims.
So it still doesn't answer the questions, how is this firm getting paid?
It actually seems like a pretty legitimate IR firm. Most of their clients are listed on the TSX.
http://www.chfir.com/
Seems odd to affiliate themselves with a pink sheet stock like MDMN but I guess if they are getting paid, they probably don't care.
Speaking of getting paid...how are they getting paid?
The TA is gagged. They have been gagged for a long time - as long as I can remember.
The NI 43-101 does not apply to MDMN. They are not a Canadian issuer and do not report to Canadian regulators. When a non-Canadian stock starts talking about issuing a NI 43-101 report, bells and whistles should be sounding as a plethora of red flags are raised.
An NI 43-101 is not applicable to MDMN since they are not a Canadian issuer. They can come up with a report in the same format but it won't mean a thing since it won't be reviewed by Canadian regulators. Canadian regulators frown on non-Canadian companies touring NI 43-101 reports. It is a standard for Canadian companies not some format that can be copied to make a company look legit. This horse has been beaten to death on multiple boards - from my vantage point neither side will give an inch so it is probably best to let dead horses lie. I am highly skeptical that an NI 43-101 will ever be produced. Les has made these claims in the past and nothing has come to fruition. He's a charlatan, plain and simple and those who listen to his geriatric, drunken ramblings do so at their own financial peril.
I think they all just like to travel to nice places to have meetings. Shareholders get billed through dilution.
That doesn't sound like DD; that sounds a lot like insider information. Why would he have to "keep it to himself" if it was available to all by just doing some DD?
And these people wonder why we think MDMN stinks.
Sure sounds like it. Gee, I thought that was illegal.
Has Auryn begun the purchase of 100 million shares?
When does the "London Group" start buying?
Are there drill rigs on the LDM?
Have more drill rigs been added to the ADL?
Why are the MDMN corporate offices a private residence in LV and the their website admin uses another private residence across the street?
Who has been dumping all the shares into the market recently?
The lower it goes, the more fun it gets. It's really exciting watching the SP on your investment crater while management makes out like...well bandits. The excitement is only going to build to a fever pitch when the SP drops below .01 - it will be a three-ring circus at that point, monkeys will be swinging from chandeliers while the crowd (those who aren't dead yet) will hoot and holler just begging for more. The fun never ends with MDMN but that's why they call it a long con.
"As far as self dealing... that makes less then zero sense... Our management is completely above board and aren't even close to crossing any questionable lines... let alone being involved in any criminal activities... in fact your statement is very close to being slanderous... where are your facts...??? where is your proof...???"
I'm absolutely speechless. As they say, you can't fix .....
I'd have to agree. Pears are sweet, juicy, and from what I hear can be made into a fine fermented drink. I suppose that drink would be a welcome escape for any shareholder who took a peek at their account today. JJ souls go into the liquor business, he'd make a killing selling booze to shareholders who need something to drown their sorrows.
JJ's Pear Wine: for those who have made a really bad investment in a pink sheet stock but just can't admit it yet.
Pear farmers do bring a certain panache to corrupt, share-selling, insider enrichment schemes. Plus I bet Les was really happy with the free pears he got - I heard he parlayed some of the pears he received for shares...it was it the other way around?
I suspect you are not the only person who regrets not selling when they had the chance. Remember - those who tell you they are buying are probably selling.
I'd love to know who is selling all the shares. I doubt it is retail players which leaves only a few options. Someone knows something is amiss and that someone seems to be voting with the sell button.
Apparently the last "World Class Deposit" on the planet is only worth a little less that 3 cents/share. Maybe if they removed the stock promoter, pear farmer, and landlord from leadership roles and installed some legitimate businessmen, the SP may improve. On second thought, this is a non-SEC reporting pink sheet stock, who else but a bunch of crooks would run the company.
Assuming Auryn is legit and they want to own the company then the lowest possible share price benefits them. Why pay 5 cents/share when you can let the price languish and pay 1 cent/share or even less. At this point, they have 2+ years left on their option to purchase...why not depress the share price and then make a tender offer at the lowest possible buy out price. They are holding all the cards, including any insider information on what the exploration has uncovered. It looks like Auryn is playing hard ball and team MDMN is woefully outmatched. Welcome to the big leagues boys, too bad all you have is Les Price and a geriatric pear farmer in your corner. This one is going to leave a mark.
That is not a pretty chart. The saga continues...
I'm going to assume that Auryn is legit. If I'm correct, there is no way they did not have built in protection for themselves and planned for eventualities like JJ's ego. This could be why we haven't seen any of the auxiliary agreements that were supposed to be released months ago.
Auryn appears to be the most legitimate partner MDMN has ever worked with. If they are legitimate, then current shareholders only need to be patient and let events unfold. If they are shady, I'm fairly certain we'll see a decent pump to 6-8 cents before the price collapses again.
FYI, the professional mining outfit Auryn misspelled "project" in the title of their first figure.
http://aurynmining.com/third-gordon-breccia-drill-hole-expands-zone-to-the-east-fourth-hole-intersects-high-grade-vein-in-hanging-wall-of-breccia-zone/
It is spelled correctly on the second one.
This isn't a MDMN filing so I don't know if it qualifies as "slop" in your book. I just thought I'd point it out.
MDMN doesn't have any sort of reserves proven or probable as per industry guide 7.
http://web.cim.org/standards/documents/Block474_Doc32.pdf
Kindly refrain from posting anything regarding "reserves" until they are publicly announced as such.
Why doesn't Auryn just negotiate a private placement at below the market price for the shares they want?
There have been an inordinate number of posts removed from this board recently. I realize that emotions run high when people have their hard earned money invested in any financial instrument but that is not an excuse for not abiding by the TOS that iHub has published. You may not agree with them and you may think they are biased but that does not nullify them nor does it give anyone license to ignore them. If you can’t abide by the rules set forth, kindly find another forum more to your liking. As of now, the moderators have been keeping the posting in check but if the violations continue to mount, we will have no choice but to involve admin. Let’s all be mature, follow the rules and keep the discussion to topics germane to MDMN.
Enclosed is the iHub user handbook.
http://ihwiki.advfn.com/index.php?title=Handbook#Deletion_of_Posts
Thank you HR.
I find this line particularly interesting: