Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Well now you're moving the goalposts. I was responding to your query about if shareholders had been asked about the company direction. I simply provided the rationale for why the shareholders were not asked nor could they be in the face of such massive fraud.
MDMN management is doing what they believe is best for the company. If this does not appeal shareholders and they believe that it will only cause the company to lose money, thereby hurting current shareholders, then they are free to sell and move on. In fact, I would encourage them to do so. If the financial risk associated with BOD actions is greater than the potential reward, then clearly, holding shares of this company is not advisable for those who have engaged in this calculus. At that point, the sound financial decision would be to sell and put the capital into companies who are making better choices.
http://www.amlforensics.com/home.html
Looks like a 2 person shop based out of San Francisco. Decent credentials for both principal employees. Let's see what happens.
Lets think about this for a minute. Les has stolen 1.5 BILLION shares from the treasury. We have to assume that while he has probably sold a lot of these, the smart money is that he and his band of John Does still own a fair amount. For all we know, they may still have a controlling interest in the company. So if you were one of them and the proxy came across your desk with the question: "Should the MDMN board of directors use funds to pursue Les and any John Doe who assisted him in order to recover stolen shares and bring the perpetrators to justice?" would you vote for it? No, Les and his buddies are all going to vote no and IF they still have enough shares, this completely derails the process and screws shareholders. So the fraudster who stole shares, now uses those same shares to ensure that his crime is not going to be prosecuted. Seems like a good deal for Les and the John Does...doesn't seem like such a great deal for honest shareholders who got bent over and nailed by Les.
How was your trip to Morocco?
The vast majority of shareholders think that this is a really good idea. Even those of us who think MDMN is one big scam think this is a good idea. It really doesn't get any more bipartisan than that. They aren't throwing good money after bad, frankly, they are trying to rid themselves of the "scam" stigma that is attached to this company. In addition, the current management is actually demonstrating that they want to hold those who engaged in potentially criminal actions accountable. I don't see how holding Lester the Share Molester and all the John Does accountable for their actions is a bad thing. Sure it may cost money but it sends a message not only to Auryn and Masglas but also to the general investing community that they are at least trying to clean up their act. Anyone with two brain cells to rub together knows that new, outside investors need to find out about MDMN in order for the SP to rise and for it to have any modicum of legitimacy. There is no way anyone in their right mind would invest in this steaming pile UNTIL they clean it up. Getting rid of Les and his pals is a huge step in the right direction.
How was your trip to Morocco?
As do I. Mr. Chacma is livid and called me this morning. He was drunk as usual and in particularly rare form. I heard expletives in 4 different languages and a few in a tongue I couldn't identify but I'm fairly certain was Klingon. I told him that going after Les and the John Does who screwed over shareholders was exactly what needed to be done to return a modicum of value to MDMN. He vehemently disagreed, said that they needed to make smart business decisions and spend money elsewhere. Before I hung up, he told me I was an imbecile. I politely asked him not to call me again.
Well I guess they figured throwing good money after bad was a good investment. Les and the John Does are going to need some soap on a rope.
I believe you are referring to this press release correct?
http://aurynmining.com/auryn-mining-chile-spa-auryn-or-the-company-or-amc/
What we don't know is what price they paid for these shares and to my knowledge, only the people privy to the contract know this. So while they do claim to have purchased 218,763,318 shares of MDMN, we can't accurately gauge their confidence in MDMN given that we don't know how much skin they have in the game. Once someone lets me know how much they paid per share, lets dialogue about confidence.
No, they may have confidence in the mountain which they own...but they could give a crap about MDMN. All MDMN to them is a part owner. I'm sure if MDMN ceases to exist, there is another company or person ready to take their place. MDMN provides zero value to Auryn. What little they had, they already gave up. MDMN is nothing more than a leach to Auryn and I'm guessing they'll look to offload this steaming pile as soon as feasibly possible.
No one really has confidence in MDMN. The long-time shareholders are burned and just hoping they can somehow break even. The "John Does" put up a good façade and exhude confidence from behind their keyboards but really they are just doing so to try and sell more shares to the gullible rubes. They are erecting their own version of a "Potemkin Village" and by the looks of it, it isn't fooling anyone
Auryn is due to release assay results soon from the ore they processed. If those reports can be verified by a good source (read QP), then maybe MDMN has a chance. However, a 3 BILLION share structure is pretty hard to overcome especially when Les is probably still selling and will most likely sell into any surge in share price.
I hear some guys in Morocco are going to be buying a bunch of shares soon...
I want everyone to know that I'm going short on MDMN and...I only go short while I'm naked.
Hey look, they made a movie about MDMN.
https://en.m.wikipedia.org/wiki/Gold_(2016_film)
Oops, that's about Bre-X but you might as well swap Indonesia for Chile, you pretty much have the same story.
Last one left, turn out the lights on this carcass.
No, I'm around here to provide an alternative narrative to the fairy tales that circulate on this and other forums. Tales of riches that lead people to think that investing in garbage like MDMN is going to net them huge profits and a comfortable retirement. I've been burned on penny stocks before - never again and if I can help others to not make the same mistakes I made, then these posts have been worth it. I own no penny stocks, I won't own penny stocks, and I pity those that do.
MDMN isn't worth any more than what the market says its worth. It doesn't matter what I or others believe; Mr. Market is always right. If the tests indicate that the "mountain" is economical to mine, the market will price this in just like it has priced in the 3 billion O/S and 1.3 billion shares that a dirty insider stole from shareholders. At this point, MDMN is worth .0046 cents per share and not a penny more. Just because I believe I own a flying unicorn doesn't make it true.
As for the translations of "sophisticated geos", the only ones I'll listen to are those who are designated as qualified persons or can prove their geological credentials. Just because some dude has been studying geology after he gets off his job of drilling teeth doesn't make him an expert. I can google really important sounding geological terms and baffle you with BS to...he's been doing it for years, I don't see why he'll stop now.
Thanks for your thoughtful response. Please allow me to retort. Since I am not a lawyer, I'll leave that be.
Auryn is conducting a test but until the results come back, I wouldn't go so far as to say the dentist has been vindicated. Let's see what the results say and then we can discuss who was right and who was wrong.
I'm also a designated naval aviator and am always aware of my surroundings. FYI, I have zero skin in the game. I posted when I sold all of my MDMN holdings and can prove that with brokerage statements. FWIW, I sold most of my position at .171 and the other bit at .17 (I think I did OK considering I purchased those shares at around .04 although I'd have to go back and check my statements as it was a loooooong time ago.)
Happy New Year to you and yours as well!
Here is the fascinating part about all of this - Les will get off the hook. He knows it, the John Does know it, and every shareholder knows it. Les wins again...BOHICA.
Br. Bubba, I'm not getting my hopes up. I know the SEC will never get involved nor should they. MDMN is a scam like thousands of other penny stock scams out there. It will never amount to anything, that was never the intention. As I pointed out years ago, MDMN was nothing more than an insider share-selling enrichment scheme. I was roundly berated for this but it turned out to be true.
The SEC doesn't care about these scams unless they can press for criminal charges. In addition, the fines they levy generally cause the defendants to go bankrupt and the shareholders never see a dime. My solution: shut down the entire pink sheet and OTC market. If companies want to sell shares, then let them become legitimate entities and do it on a reputable exchange. Spare me the platitudes about cash-strapped startups, I heard that line for years about MDMN but it turns out if Les was actually honest, he could have turned some of the 1.3 billion shares he stole into cash, proved up the mountain, and possibly turned MDMN into a legitimate junior miner. But he didn't because he was a thief and MDMN was his method of robbing shareholders to pay for his lifestyle. Ever wonder who finaced all those trips around the globe to meet Ulander, JJ, lawyers, and whoever else he could tell you about? Ever wonder who financed his lavish meals, the booze, and any other sort of entertainment he enjoyed? You did and you are going to keep subsidizing him until someone shuts him down. Since the SEC won't...how do you suggest the shareholders stop him from unloading the hundreds of millions he and his cronies probably still hold? Civil litigation is expensive as you point out and rarely nets the shareholders anything...so what is your solution?
Splendid. I say we just let Les and his cronies off the hook. Never mind that MDMN lost 97% of its value and crushed shareholder value. That's ok, Les should be allowed to walk and never face any consequences for his blatant theft of 1.3 billion shares. He should be allowed to live the rest of his days in blissful retirement while Auryn mines the mountain; a mountain I might add, that hasn't been proven to be worth anything. I think shareholders should actually contribute to his retirement fund and possibly his long-term care insurance. Oh wait, they already did when he ROBBED them blind.
No it isn't a waste of time, money, and resources to try and make shareholders whole. I can tell you from personal experience that if the SEC ever gets involved in this mess, they will come looking for the "John Does". Good grief, I can remember when MDMN stock was priced at $0.17; now it's trading at $0.005 which equates to a NEGATIVE 97% Return On Investment! The reason the ROI is negative has a large part to do with Les Price and his band of John Does. If I was a shareholder, I'd want him prosecuted, along with all the clowns who assisted in his thievery. It appears most level-headed shareholders can grasp this concept.
Lets be perfectly clear here, I still believe MDMN is a scam and always was. Please don't misinterpret my post as anything other than trying to demonstrate to another poster why in the minds of some shareholders it would be wise to go after Les. Personally, I don't give damn what MDMN decides to do, this saga is nothing but entertainment for me. I don't own this any of this pile of sticking excrement nor do I ever plan to.
Good point so its worse than my math indicates. Even more reason to go after Les and his band of thieves.
Mr. Chacma is endowed with a special kind of weapons grade stupidity that only comes along once in a generation. He honestly believes he's in Chile helping to sort through a pile of ore in the hopes of producing fantastic results that will save his bacon.
I've tried to call Mr. Chacma three times today but his phone went straight to voicemail. I even tried to reach his assistant, a Mr. Privy Lagomorph, but only got his voicemail as well. I don't know what is going on but it is odd that both are out of the office and not answering calls.
The whole John Doe angle to MDMN's response is fascinating. I personally think that there will be John Doe's named and that long suffering shareholders are going to be furious when that list is revealed. I'd venture to guess that some of the posters on the cult board will be named and even though they have tried to shove countless iterations of the cult board down the "memory hole", one thing that they neglected to account for was that the internet is forever. Everything that was ever posted on the cult board can be dredged back up and I'd venture to guess that when it is, they won't be happy.
Mr. Chacma called me from a number I didn't recognize this morning. When I asked where he was, he let lose a string of expletives. Throughout the initial tirade, I was able to make out the following words..."I'm in Santiago Chile you little b**** and I'm driving trucks for Auryn; I'm going to be f***ing rich!"
I highly doubt that Mr. Chacma is actually driving the trucks for Auryn but I did hear traffic noise in the background and a Google search of the number revealed it to be a payphone in the slums of Santiago Chile. I'm not sure what Mr. Chacma is doing down there but in his mind, he believes he's employed by Auryn and the MDMN share price is going to soar.
I'm waiting for a call back, I do hope he has his personal cell on him. Once again, he sounded drunk.
To be fair, Auryn did post a picture of a similar looking truck on their facebook page. I'm of the opinion that Auryn is actually a legitimate entity; what I am not convinced of is if the mountain is economical. If this picture is in fact legit, then the shareholders of MDMN won't have long to wait until the results come back. Assuming that Auryn is legit, they have no reason to fudge numbers so if the report sucks, I expect them to report that it sucks. If it is decent, I expect that as well. We shall see what happens.
Shipment Arriving At Enami
https://www.facebook.com/aurynmining/photos/a.389127464769985.1073741836.303413610008038/389191248096940/?type=3&theater
Update: as I was typing this post, Mr. Chacma called me from his personal phone. He now claims that he's helping run the ore through the Enami plant. Now I really think he's lying - I told him to be careful and try not to fall into the rock crusher.
I think Mr. Chacma may be named and could be the reason they have John Doe as a defendant. I also fully expect some posters from the cult board to be named as well. I would not be surprised if Dr. Decosta's name is eventually linked to this. He isn't now but it wouldn't surprise me in the least given his complete lack of impartiality and continual defense of the old MDMN BOD.
Let me check with the man and see if he is willing to have his email posted on iHub. I don't think he'll mind as he's always looking for more clients. I got a call from him at 3:47 AM this morning; he was drunk as a skunk and kept telling me he was best friends with Mauricio and the guys at Auryn and Masglas. He mumble something about his son being married to Les' sister before he trailed off. I heard a loud thump and the line went dead.
Mr. Chacma has come a long way. If my hypothesis is correct, the reason he now can afford glass tables and avail himself of the opportunity to take drunken swan dives through them, is largely because he's been funded through the ill gotten gains earned by being the lackey of Les and JJ. While he is no longer my financial manager (at this point Mr. Mandril is working out well), I'm beginning to wonder if his claims of purchasing MDMN shares are nothing more than fantabulous yarns spun got his own enjoyment. Obviously he deserves to lose his license if this is the case...but did he ever have one?
I wasn't aware that Mr. Chacma posted on this forum. I also wasn't aware that you were in contact with Mr. Chacma - if you are, please regale us with the stories.
I think Mr. Chacma may be in the employ of Les or JJ but I have no proof. All I know is that he is an ardent MDMN supporter and feels that it is a good investment even if it loses another 50% from these levels. While I believe him to be a poor financial advisor (who I have fired), an imbecile, and the village idiot, he is entitled to his opinion. I just can't have him managing my money anymore. I also think his judgment was severely impacted by the fall the fall through the glass coffee table.
You raise a good point, why the ceaseless promotion of MDMN
Even to the point of harassment. I don't have an honest answer
For you although I think you may be on to something. I too
Suspect that Mr. Chacma may be in the employ of either Les Price
Or JJ Quijano himself. I don't have any proof of this but I think
It best to continue to maintain a relationship with this man in
The interest of getting to the bottom of who he is working for
And why he is promoting MDMN.
But I do think he may be working with some nefarious
Individuals who have ulterior motives that may
Guaranteed them a stream of income that would allow these
Banditos to abscond with continually larger sums of money
All the while, keeping shareholders in the dark.
Basically, I think there is a concerted effort among an
Organized group of people to continue to paint MDMN as a company
On the up and up. Auryn is the latest trick in this charade.
Never mind that MDMN has failed for two decades to bring even an
Insignificant deal to the table. There has never been a
Substantive deal with anyone that would in any way shape or form
Allow shareholders to recoup their initial investment.
No one, with the exception of company apologists, care about the
Inner workings of MDMN. Common shareholders simply want to
Move on and extricate themselves from this horrendous company.
But there are those I mentioned, the apologists, who will
Earnestly push the BS out to anyone who will listen because
Common people who don’t do their DD and insist on believing
Illogical arguments and wild fantasies, will always be
Led down the primrose path to their financial ruin. This
Embezzlement will continue unabated until something is done.
I believe Mr. Chacma to be an imbecile and gifted with a special kind of stupid only reserved for those poor unfortunate souls who spend most of their lives in a relative's basement. He has now begun to harass by sending me emails every time he purchases MDMN. Last night, he sent me 23 missives that consisted mostly of the following text (and I quote):
I called Mr. Chacma today to discuss the situation with MDMN. I told him that it appeared that MDMN was going to go after Les Price and potentially try to recoup some losses. He laughed at me and told me that it was most likely a futile pursuit that would cost a ton of money with minimal benefit to shareholders. I told him that we appeared to disagree on just about everything related to MDMN and maybe he shouldn't be my financial advisor anymore. He told me to pound sand and said he didn't need my business as he had purchased a ton of MDMN shares and since they were going "to da moon", he'd be fine. Then he hung up on me after calling me a very nasty name.
I was a bit disappointed but had already planned for this eventuality. I called my back up advisor by the name of Mr. Mandrill. He asked why I was shifting my business to his office and I told him that Mr. Chacma was blessed with a real special kind of stupid. Mr. Mandrill assured me he would look out for my best interests and began asking questions about MDMN. I'll have to report on the conversation later as I was prepping for a colonoscopy and had to run to the bathroom.
I think Mr. Mandrill is an advocate of pursuing Les and prosecuting him to the fullest extent of the law. I believe I've found a good advisor, I hope Mr. Mandril works out better then Mr. Chacma did. More to come...
With credit to Minichiello
So let me get this straight (and this is a hypothetical situation so please try to keep up) - if a Canadian citizen stole your identity and absconded with half of all your assets, including your offshore accounts in the Virgin Islands, you would be perfectly fine with not doing anything because some of your assets were in a foreign country and the thief was a Canadian citizen. You would be ok with just sucking up the theft of half your assets and hope that you recoup your losses through good business practices and decisions? I'm trying to wrap my mind around your logic here. It seems to me that if MDMN can recoup the massive losses they have incurred because Les stole their assets, at the very least, they break even and at best, they recoup much of the ill gotten gains and shareholders are made partially whole. Seems like a good investment especially since this case appears to be fairly open and shut.
HR is spot on in his analysis. He isn't being irrational and certainly not prone to outbursts of anger. MDMN doesn't have much left at this point and to give up even more by just accepting that Les stole half the company is the definition of irrational and frankly, cause to fire the entire board of directors. Shareholder, who have been screwed left, right and nine ways to Sunday, deserve some justice and if that is going to cost a bit of money, then so be it. At the very least, they are entitled to let their voice be heard and vote on a resolution to either go ahead with the investigation or let it die.
Some have written it off but there is a core group of people who do think this will rebound. Most are in this so deep that all they have is hope. I don't believe much of what I read on the chat forums but when you see the same folks posting for years, I have to think they haven't moved on.
It does sound like a reverse split but I don't think they do it. Poncho is right, if they did a reverse split, the torches and pitchforks would come out. A reverse split is the absolute worst thing they can do right now, it will crush what is left of this pile of steaming excrement.
I don't think anything stops them from authorizing new shares. At this point, anymore dilution and the shareholders will get out their pitchforks. I think Mr. Tupper is an honest guy and he's genuinely trying to inform the masses of what is going on. He's in a bad spot and currently the CEO of a company that is hanging on by a thread. I'm sure relations between Auryn and MDMN are cordial but I doubt that Auryn will go out of their way to help out MDMN. If it fails, so be it...
The New Medinah
http://medinah-minerals.com/the-new-medinah/
The interesting nugget is that Mr. Tupper is now getting paid $100/hour up to a max of 30 hours per month.
I don't begrudge him the paycheck, he probably deserves a lot more for running this crappy company but how is MDMN going to pay him with zero revenues, zero cash, and virtually no room left to dilute.
I had a private conversation with my proctologist yesterday and just because I said it here means it's a fact right? I also called Hillary Clinton and she told me she needs a hobby and she's buying MDMN shares. I suppose that's a fact to right? No one is buying MDMN shares. Any person who does a modicum of DD into this company will run screaming in the other direction at warp speed. The declining share price shows people are unloading positions and with virtually no hope of this company ever becoming legitimate, let alone profitable, they won't be rebuying. Not sure what you are doing for the holidays but you are welcome to join Mr. Chacma and I for a relaxing weekend at my unicorn ranch. We have a whole flock of Dodo birds and a small velociraptor as well and that's a fact jack!
You claim they are facts...how about posting some screen shots of these mythical unicorn investors scooping up boatloads of MDMN shares. I think at this point, given all the empirical evidence to the contrary, you owe us some hard evidence of your wild assertions.
He fell through a plate glass coffee table, got 18 stitches and bruised his medulla oblongata. How sane do you think he is at this point in time?
You owe me a keyboard, I just spit coffee all over it after reading that load. No one is buying this garbage. It would be akin to buying a Pontiac Aztec for your wife for Christmas.
http://content.time.com/time/specials/2007/article/0,28804,1658545_1658544_1658540,00.html
Would any sane individual seriously consider doing anything you are proposing? The simple answer is NO.
No one in their right mind is buying back any MDMN shares they sold. Most are happy to be rid of this steaming pile of excrement. Selling MDMN shares to them is an early Christmas gift; they can look their significant other in the eye and say:
"Honey, I know we've been fighting about MDMN for a decade but I want you to know, I love you and yesterday I our sold our entire position in that worthless stock. I don't want to fight with you when I know you are right. I made a horrible mistake thinking I could get rich quick by investing in a company run by a fraudster and a thief. I realize now I was an idiot and made foolish decisions. My head was jammed way up my ass and I couldn't see how f***ing stupid I was being. Never again will I flush money down a toilet and let a total scam come between the love we share. This whole sad affair is now behind us and we shall never speak of MDMN again. I may have lost some money but I strengthened my relationship with you. Les Price will heretofore be known as "he who shall not be named". Merry Christmas!"
I can see this playing out in households everywhere this holiday season. I hope it plays out in the home of my good friend, Mr. Chacma.