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Folks, posting about other members is grounds for post removal. Below is a quote from iHub's TOU. Read and heed.
That is good to hear. Dropping the hammer on non-filers is a huge step in the right direction. I've got a few more names I could give them.
Falcon 20 is quite a relic and those turbofans didn't help my hearing at all. I have 3600 hours in that plane and she was fun to fly.
I'm flying a desk right now.
I don't know and frankly it doesn't matter. My question was rhetorical. We still don't know who Partner A was and I doubt we will ever know who the members of the "consortium" were.
What would be nice is for MDMN to disclose the end date of the NDA. Couldn't they just come out and say the NDA for Partner A ends on such and such a date and the NDA for Amarant ends on another date? Why not tell the shareholders when the NDAs terminate?
I was being facetious.
If MDMN ever wants to be taken seriously by investors and the mining community, a good start would be actually filing paperwork with the SEC and becoming a fully reporting company. If MDMN can be believed, they should have $100k coming to them in short order from the Ciclon sale. If I was managing MDMN, I'd hire a good lawyer and tell him to get cracking on becoming a fully reporting company with audited financials. Robert Hackney, the bankruptcy guy from Jupiter FL, doesn't quite meet muster in my book. I'm not sure how much this will cost but I'm willing to bet that $100k would make a nice dent.
Assuming they go this route and the books are clean, everyone will know how many shares are out there and what the real state of the company is. At this point, MDMN can begin to prove up the mountain and figure out if there is anything in the hills AND if it is economical to extract. A legitimate study done my a reputable drilling company would get a lot of people looking at them IF the drilling turned up some viable resources.
For 16 years, MDMN has been kicking rocks, wheeling and dealing and coming up empty. Why?
I was invested in this thing for some time as well. I was lucky and got out at .17 after the Vegas AGM. I had serious doubts about the company. The key was divorcing myself from the financial aspect of MDMN and having NO money at risk to cloud my judgment. I'll be labeled a "disinterested observer", the B word and all manner of names for admitting that I don't own this company but the fact remains, with no money at stake, it is very easy to be completely objective.
My advice to the current shareholders is to do a bit of digging on their own. Don't listen to the "MDMN experts", go find your own experts from the mining business who can objectively read the PRs, look at the property and make educated decisions. This is what I did and it is why I sold a long time ago.
PS - I won't share my sources because shareholders will do one of two things: 1. They won't believe them or 2. they will harass them.
Did those companies previously file and then become delinquent or were they non-filers from the beginning? I understand the SEC suspending delinquent filers; what I'd like to see them do is suspend all the companies who currently trade yet have never filed with the SEC nor have any plans to do so. I'm talking about the companies who use the various tiers of the OTC to feign legitimacy even when they haven't filed one piece of paperwork with the regulators.
I'm typed in the Falcon 20 but I've promoted myself out of the cockpit so my flying is very limited.
That's a great start but they should suspend trading in any company the doesn't file with the SEC. File the required paperwork or you don't trade. The carnage would be a thing of beauty.
Maybe they just need a new word. How about...
alliance, band, bunch, club, coalition, combination, combine, compact, company, confederacy, confederation, conference, crew, gang, group, guild, loop, mob, order, organization, outfit, partnership, pool, ring, society, sodality, union, unit
but my favorite is: plunderbund
I don't care which way they say it, I'd just like to know who the members were. Is the NDA still in effect even though the contract and "consortium" collapsed?
You need to take anything said my Les with a grain of salt.
1. How can you have a verbal LOI or MOU when by definition, those are written documents?
http://www.thefreedictionary.com/letter+of+intent
http://encyclopedia.thefreedictionary.com/Memorandum+of+understanding
2. He admits that MDMN is dealing with "major" entities.
3. It appears news on LDM is forthcoming.
4. He admits he is meeting with "institutional investment firms" and those firms will be with MDMN for the long haul.
Well I'd like to know who they were. For months, other forums were throwing around "consortium" and yet nothing materialized.
If they meant a "consortium" of all of Ulander's shell companies, that strikes me as a bit disingenuous. If I were a casual observer, I'd read "consortium" as a group of independent yet like-minded companies pooling their resources because the financial burden was too great for one entity to go it alone.
http://dictionary.reference.com/browse/consortium?s=t&path=/
Since Ulander appears to have been just shuffling the same paper money between companies, calling his group of entities a consortium is stretching it.
Question: rumor has it that there are upwards of 5 new companies looking at the ADL property and that they are all "reputable". I'd assume some of these were involved in the previous negotiations but Amarant was eventually selected as the winner. So if all of these companies are chomping at the bit for a piece of ADL now, why did Les, JJ and the BOD pass them up in favor of Amarant?
Does anyone know who the "consortium" partners were that everyone was talking about with Partner B?
http://www.medinah-minerals.com/pdf/inf4483.pdf
New copper adit results dated 29 April.
Last time they used FGF Analysis Mineros
This time they used Metalquim.
The SEC aught to shut down every "junior mining company" that either doesn't file or is delinquent in their filings. This arbitrary assignment of value to a property without a credible sampling program by people who obviously have no clue about geology or mining has got to stop. It doesn't take a PhD from Harvard to figure out that 99.99% of these pink sheet "junior miners" are nothing more than share selling schemes that only serve to mine shareholder pockets. And why do all these scam company CEOs wear fedoras?
What happened to Enami's "giant hi-way rigs" that were supposed to pick up all the ore that MDMN has been stockpiling for the better part of 2 years?
Where is the $500k Ciclon payment that was due on May 27th?
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=1380643186
I realize they only own 10% of the sold claims but even $50k is good when you are operating on a "shoestring budget".
Maybe they will let him write the whole PR. After all, he does drill and work with gold for a living.
LOL. I hope they expound on the incredibly "complex geology" and identify some of the "chair quarterbacks".
Here is some stuff from Les...
Yes and I believe JJ fits in that demographic as well. I wonder how many years these guys have left? They aren't spring chickens anymore and all that traveling has to be taking its toll. I'm sure all those dinners with the prospective suitors aren't terribly healthy and probably end very late.
Given the clowns who run this company, Chaplin seems like a fine fit.
HR, I'm willing to give you and MDMN the benefit of the doubt as to why they worded their Q&A the way the did. I won't quibble but frankly, it does seem a bit disingenuous. Why put out the Q&A with information that was later proved false? Better to keep their mouth shut and let things play out wouldn't you agree? They obviously knew things were going south so why even put out the info?
My bigger problem is the two links below.
http://www.amarantmining.com/altos-de-lipangue.html
http://www.amarantmining.com/news.html
In light of the default, why does Amarant still claim to own 85% of ADL and still claim the contract with MDMN is legit? It's been week now; surely the BOD and JJ has addressed this. Any ideas as to why Amarant is still claiming ownership? If Les Price can be believed (that is a stretch since he's been caught in a few lies), MDMN is speaking with 5 interested parties. Seems like they should tie up some lose ends before moving on.
As an investor in MDMN, it must trouble you that their previous partner is still claiming ownership of the flagship property.
Did MDMN lie in their Q&A?
Q&A - April 19, 2013
Q: What are the problems with the Lipangue deal? Where is our money? Tell us what is going on? Are we still NDA bound?
A: Again, Medinah Mining Chile has the lead in all negotiations with Amarant Mining Ltd., related to the 1,508 Altos de Lipangue claims. Medinah Minerals, Inc. is in a subordinate position, and not a signatory as to the Purchase and Sale Agreement, among parties, dated July 10, 2012. Medinah Mining Chile, is under a very strict Non-Disclosure Agreement. Medinah Minerals, Inc., as an affiliate, is also bound by the identical NDA terms of the signed Purchase and Sale Agreement. Although we work closely together with Medinah Mining, Chile, they hold negotiating and signing power on the contract. At this time (April 19th) we are informed that all terms and conditions of the contract are still in full force and effect and proceeding.
Yet, just 9 days earlier...
On April 10, 2013 a Final Termination Letter Notice was sent to Johan Ulander and the
Board of Amarant Mining Ltd. to abide by the Terms and Conditions of the Contract, or
be deemed in default and the Contract would become null and void.
http://www.medinah-minerals.com/qanda.html
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=1965803480
I wasn't speaking to you. I was refering to another poster who indicated that many people were happy that shareholders were losing money.
No one is having an episode of schadenfreude.
What bothers me is that those who were warning shareholders about Amarant were called all sorts of nasty names yet narry an apology from those who uttered those names now that their research and warnings have been proven correct. Am I supposed to feel bad for people who don't heed the warning signs? I don't suppose anyone will be receiving an apology soon from the likes of those who post things like this:
http://imageshack.us/photo/my-images/826/2ec63bec401d6a9df565e60.jpg/?sa=0 (click on "continue to media")
Kudos to the TMP admins who deleted it.
I do not relish in the financial hardships or monetary loss of anyone nor do I think any of the people who put time into critically researching MDMN and Amarant do as well. The fault lies squarely on the backs of those who chose to buy MDMN.
Well I'm fairly certain they didn't reject Barrick, Kinross, Codelco, Volcan or BHP.
I don't think a major is in the cards.
Who knows at this point.
Look on the bright side, a protracted legal battle will afford the BOD the opportunity to take many trips to Europe and Chile to clear up the mess. I hear the meatballs are smashingly good in Sweden and the Curanto in Chile is to die for.
Begs the question, who will finance all these junkets? My guess is a couple hundred million more in dilution. Oh the humanity.
Sadly I think you are 100% correct. Sigh...
If there is a Partner C, something I'm not convinced of in the least but I'm willing to play along because this entertains me, they will most likely hide behind yet another NDA and we'll be right back to square one.
If Ulander was/is such a scumbag and MDMN management still decided to sign with him, who the heck were the guys they rejected? Must have been quite a crew of miscreants.
Then why, pray tell, did MDMN jump into bed with this guy and get led around for 15 months (give or take)? If the guy had nothing to offer, why did MDMN hitch their wagon to his horse in the first place? The answers to those questions should cause shareholders to run from MDMN as fast as they can.
There certainly isn't. Clearing this up should provide us with ample entertainment.
Frankly for the shareholders sake, I think severing all ties with Ulander/Amarant would be the best thing. It appears MDMN management has tried to do this but Ulander/Amarant don't want to go quietly.
I'd get Sasquatch involved ASAP; if he shows up on Ulander's doorstep, the Swedish sensation will crap his pants, cancel the deal and all will be right in Medinahland.
http://www.amarantmining.com/news.html
So is Amarant in default or not...
If Bald Eagle was running MDMN, it wouldn't be a pink stinker, it would actually be a junior miner. The buffoons running MDMN could learn a thing or two from folks like BE but I'm fairly certain that the clown show behind MDMN isn't interested in actually running a legitimate company. For HR's sake I hope that MDMN gets it poo in one sock and starts to function like a real company but I have serious doubts that this will occur.
Once the flock of rubes dried up from the Monk promotion campaign, PNTV had no choice but to enter into death spiral financing to pay the bills or simply enrich themselves at the expense of shareholders. This scam is dying a slow death largely because the company has nothing to offer and consistently fails to deliver on any promises. I figure the well is about dry. PNTV held on longer than the other monk scams; last one, please turn out the lights.
HR, you are correct, I did not fly to Chile. However, through our mutual interest in aviation, I did contact and speak to a gentleman (former shareholder) who did fly to Chile to speak with JJ and walk the property. He did this way back in 08 or 09 I think. I only spoke with him in 2011 or so.
The details of our coversation are not important because no one will believe them anyway. This is an internet message board after all. I will say this, because of those conversations, neither he nor I are shareholders of MDMN anymore. I have spoken to him since he and I both exited our substantial positions. Suffice it to say, his comments/predictions were 100% spot-on and I am thankful that I listened to him and made the appropriate decision.
ND, have you done research on MPIX? Heavy pumping on the board withe the typical "life changer" theme running throughout.
If he is being isolated, those doing the isolation are doing him and the shareholders a huge disservice. He should be informed that shareholders with an accumulated 450 million shares are dissatisfied with how he and the BOD have and continue to conduct themselves. The loss of shareholder equity should not be ignored by management. It is their fiduciary duty to manage the company well. I don't think they have done that. It appears that 450 million shares feel the same way. If this letter doesn't wake JJ up, MDMN is in bigger trouble than I thought.
This letter was meant to influence JJ. For the sake of the shareholders, I hope it does. If the letter does influence JJ, then it had the desired affect.
Who knows what that crazy lunatic is trying to do.
Sasquatch is a must but it must be a "bun-tussling" Sasquatch, not just your average "run-of-the-mill" variety.
He could but then the bear would feel left out.
I say scrap the entire logo and replace it with one big SASQUATCH!
But lions and tigers and bears do...oh my!