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Based on the share price decline, it appears that more and more shareholders are "freeing" themselves from the worthless pile of garbage they own, otherwise known as MDMN shares.
The world will forget Les Price ever existed once MDMN is gone for good. He'll be just another skid mark on the boxer-briefs of history. Do you remember when Les fell down the stairs on one of his many junkets to Chile? The shareholders were all wishing him well and hoping everything was going to be ok. Boy how times have changed.
I just received a call - Mr. Chacma now claims he's purchased nearly 2.6 million shares of MDMN today. I'm now convinced that the fall he took seriously impacted his ability to make rational decisions. He's also begun to cackle and speak to me in incomplete sentences that as I mentioned before are largely incoherent.
I did manage to get one piece of information out of him. He received his accounting degree from Thunderbird University and cheated to pass his Series 7 exam. I can only hope that the poor folks who sign up for his services are aware that he's dangerously unhinged and prone to make horrible decisions that will cause them to lose vast sums of money. He also told me he's planning on selling most of his IRA assets (now held in dividend paying blue chip stocks) for MDMN shares. He says the untold wealth he knows he's going to have once MDMN goes "to da moon" is worth any risk. He "knows what he owns..."
Mr. Chacma is doing fine albeit a little worse for wear. His plunge through the glass table resulted in 18 stitches and a rather large lump on the side of his head. He called me this morning and said a cocktail of Percocet, Valium, Oxycodone, and Military Special whiskey was just what the doctor ordered. In fact, he said his recovery was going along so well that he planned on buying 1.8 million shares of MDMN today. I see that Mr. Chacma is a man of his word and has in fact purchased the aforementioned toilet paper.
As always, when talking to Mr. Chacma, you need to pay attention to those miniscule nuggets of wisdom that are carefully placed in his otherwise rambling, incoherent babblings. He mentioned to me that while he was planning on purchasing a large number of shares, he did feel the price would go lower as tax-loss season was in full swing. He seriously believes that it could go to the trips, at which point, he'll be loading boat, backing up the truck, and praising his good fortune.
Now given that Mr. Chacma had been berating me mercilessly about even the thought of purchasing a load of refuse like MDMN, I can only conclude that the fall must have impacted his judgment and possibly his medulla oblongata. I can only surmise that his massive fall caused his brain to involuntarily purchase garbage at inflated prices. I'm not a doctor, but I quickly called his personal physician and he said he'll look into it.
They are having one heck of a discussion trying to figure out exactly what "bi-monthly" means. Regardless of wether it is once every 2 weeks or once every 2 months, it will provide fodder for discussion and more entertainment. I think hiring Mr. Chacma to analyze these missives will be money well spent. If he's willing to supervise IR, that would be an added bonus as he certainly would put an end to the buffoonery and poppycock.
FYI, Mr. Chacma called me this morning, drunk as a skunk, and told me he's buying MDMN like crazy now. "If everyone is tax-loss selling son, well I'm going to be tax-loss buy-in'..." He trailed off and I believe fell through a glass coffee table before the phone went dead.
From your mouth the God's ears. Thank you for confirming what all of us on this board already knew.
What he meant by the trips was three zeroes before the actual number (e.g. $0.0002/share).
You should take a look at the MDMN private forum - that's a great one to read. I think it is on its 4th or 5th iteration. They've swapped sites several times and most of the good stuff has been sent down the memory hole but its still a hoot to read the missives of the shareholders. To the best of my knowledge, no actual company officials post there regularly (one of the longer term shareholders recently became the CEO) but I wouldn't be surprised if they read it especially given the theft of 1.5 billion shares by Les price. I think that scam is probably on its last leg but who knows. The latest twist was Les Price suing MDMN for defamation of character. Got to love it when a scammer does that.
A footnote to this little story, he called me back 10 minutes after our initial conversation and asked in all seriousness if I was considering buying MDMN. When I told him I was, I swear I heard his beverage spray into the mouthpiece of the phone and then the line went dead. Two minutes later he called me back and apologized but said his phone shorted out, caught fire, and exploded after he sprayed a fine mixture of coffee and Bayleys on it. Apparently, the forcible ejection of his beverage also ruined his keyboard and monitor. His final comment to me was "son, if you plan on buying this load of whale excrement, you better plan on having a big garden that needs fertilizer."
I called a financial advisor today, a man by the name of Mr. Chacma. He is very intrigued with MDMN. I explained to him at length the fraud that has been perpetrated here but he insisted that I hadn't done any good DD and was only listening to what I wanted to hear. He told me he planned on rigorously researching MDMN and Auryn right after he purchased 5 million shares as I was speaking to him on the phone. I asked him why he was so confident that MDMN would succeed in spite of the thievery, piss poor management, and cult like behavior of shareholders. I could hear he disdain in his voice as he answered my questions - "son, when you are as good of an investor as I am, you need to ensure you buy a real piece of crap every so often. Tax loss season baby...tax loss season". I hung up the phone and pondered his words. Three seconds later, I wrote him off as just plain nuts. Five seconds after that, he called me and said he was just joking about buying the shares, that would be an asinine thing to do at these prices. If I wanted to buy MDMN, I should wait until it hit the trips. I called him an idiot and hung up. two minutes later he phoned me back and called me a jackass.
Here is what Auryn told shareholders:
I was being a tad facetious. Les and JJ are scammers cut from the same cloth. They figured it was easier to make money robbing shareholders than actually mining a property. Because of their inability and unwillingness to work hard and develop the property, we don't know what the mountain holds. For all we know, majors were clamoring to drill it but Les and JJ turned them down. (FWIW, I find this highly unlikely but given their pension for thievery and malfeasance, it is a possible option.) So now shareholders, who have been screwed nine ways to Sunday, are left with Auryn. If Auryn doesn't classify the property as economically viable, shareholders better get used to "tax loss selling time" for the next decade or so. A non-economical property is the final death knell for MDMN. The final chapter is about to be written in this tragedy and I honestly don't see a happy ending. Pass the popcorn.
They've been trying to develop this mountain of dirt for 2 decades and haven't figured it out yet. Auryn is their last and best shot to do it. If Auryn determines the mountain is worthless, MDMN folds. Maybe MDMN could go into the marijuana business next. Seems like a hot market right now and I hear you can grow ganja on worthless mountains in Chile.
My apologies - what I meant by "listed" was "continues to trade". You are correct, MDMN is an OTC stock that the SEC cares little about.
The MDMN three ring circus continues unabated. Every time we think the final act has played out, a whole new bevy of clowns pile out of an old beat up beetle and the music starts again. Les suing for deformation of character is akin to a whore suing a client for taking her virginity.
I'm sorry, Les can't unring the fraudster, scammer, con man, liar, thief, charlatan bell. Every one on this planet knows his character blows goats - why can't he just accept the fact that he's a defective human.
It just keeps getting better.
http://www.stockwatch.com/News/Item.aspx?bid=Z-U:MDMN-2426181&symbol=MDMN®ion=U
Les files a second suit against MDMN. Popcorn please.
http://www.stockwatch.com/Quote/Detail.aspx?symbol=MEDINAH®ion=U
It sounds like the lawyer filing the claim on MDMN's behalf is a good firm that specializes in this type of law.
http://cooperlitigation.ca/
http://cooperlitigation.ca/people/
The lawsuit from the fraudster Les Price is probably frivolous. It appears to have been based on a verbal agreement many moons ago. Les is angry because his ATM (read free supply of MDMN shares that he can dump on unsuspecting shareholders) is having a few glitches. So he tosses a lawsuit at the illiquid company to get them to focus on things other than his thievery.
I think MDMN remains a listed company. It trades on an exchange with very few requirements so unless trading completely dries up, I don't see this dying just yet. The SEC is clearly not going to suspend trading so that avenue to delisting is off the table.
Walking away from this loathsome ticker is probably best for everyone's health. I really feel bad for the older folks who dumped their retirement into this black hole. I doubt MDMN ever recovers and I wouldn't be surprised if this heads down to the trips on no news and minimal involvement by Auryn. This is what happens when a property turns out to be a bust.
MDMN responds. If anyone is a subscriber, it would be nice to get the full release although I doubt it will shed much more light on this lawsuit.
http://www.stockwatch.com/News/Item.aspx?bid=U-s0144076-U:MDMN-20161128&symbol=MDMN®ion=U
Medinah Minerals accuses ex-CEO Price of forgery
2016-11-28 10:51 ET - Street Wire
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Mike Caswell
Medinah Minerals Inc. has accused its former chief executive officer, North Vancouver's Les Price, of carrying out unauthorized and fraudulent transactions. The company also claims that he forged a number of documents over an extended period of time. The forgeries related to the shares and assets of Medinah, the company contends.
The statements by Medinah come in response to an unpaid debt lawsuit that Mr. Price filed against the company in the Supreme Court of British Columbia on Oct. 18, 2016. He claimed that Medinah owed $2,017,066 to a private entity that he controlled, GXK Ventures Inc. (All figures are in U.S. dollars.) GXK paid Medinah's bills over a nine-year period, but received no reimbursement, the suit claimed.
Medinah has now answered that lawsuit, and it says that it does not owe any money. In a response filed on Thursday, Nov. 24, the company denies that GXK advanced any amounts on Medinah's behalf. It also denies authorizing or approving any such advances. It further says that it never acknowledged owing money to GXK.
The remainder is available to Stockwatch subscribers.
In all fairness, Kevin Tupper did post twice over on the other site within the past few days. While he didn't say much (he can't for obvious reasons), I think it is at least noteworthy that he's working behind the scenes and attempting to make contact with the shareholder base on a limited basis. FWIW, I do not think Kevin Tupper is cut from the same cloth as Les Price. I believe him to be a shareholder, burned like the rest of them, who has a set of skills that he believes may be help extricate MDMN from Les' black hole. We'll see how he does but for now, the jury is still out. If he is honest, he would be the first in a long line of insiders.
Fair enough...mea culpa on my part. Kirkland is hereby absolved - who do you suggest should pinch hit for him?
Well they had a pretty bad lineup:
Les Price
JJ Quijano
Claro Quijano
Gary Goodin
Greg Chapin
The Piano Man
Dr. Decosta
Dr. Kleen
Vital Kara
...and a whole host of supporting cast members who drank the Kool Aid and brought in friends, family, and acquaintances to buy this garbage and line Les' pockets. This team ain't going to the World Series anytime soon.
This is the time of year where people offload their worthless, underperforming dogs that have plagued their portfolio for too long. MDMN fits perfectly into this category. I'd venture to guess that the current selling is coming from les and his cohorts. They are probably trying to unload as many of their ill-gotten shares as possible before those high-priced lawyers figure out that more people than les are in on this scam.
Don't worry, the die hard supporters are now telling everyone to just wait. While I don't disagree with their assertion given that the mining business is a slow slog that often takes years, I think it is a bit insulting to shareholders who have been invested in this scam for years to just keep waiting. The lawyers won't have a resolution on the Les Price affair for a few years and meanwhile, there is a seller who just keeps dumping shares and driving the price down. At the rate MDMN is collapsing, I fully expect this to be in the trips inside of 6 months. But hey, more shares for 'Les' money - just hold on and wait...for what?
I'm still of the opinion that Auryn is just looking for a way to offload the albatross. MDMN is on borrowed time here, either they figure this out and provide shareholders some idea of the way forward or I think its going to be curtains.
Who cares what he's saying, the story never ends well for scam stocks like MDMN no matter how much you want it to. Best thing to do is cut your losses and move on...or...you can stick around and watch the slow moving train wreck. Pass the popcorn.
There will be no distributed profits. Auryn doesn't want MDMN anymore than you or I want herpes. The faster they can rid themselves of this plague, the better. Thinking they will give anything back to a fraudulent company is like believing that unicorn farts are the solution to our energy woes.
It ends in bankruptcy and total loss for the shareholders. MDMN is the 7th circle of hell for investors.
You don't say...it's an S curve that plunges shareholders right off a cliff into a bottomless abyss. Les is driving the bus. How's that for descriptive language.
Mike,
Les Price turned MDMN into a steaming pile of fecal matter. The company never had a chance to see what was actually in the mountain. With Les at the helm, it was always nothing more than an insider enrichment scheme. I'll venture to guess that if the lawyers manage to pull the curtain back and expose the secrets, you won't be happy. I'd bet Les had a lot of help and probably rewarded those people for pushing his little scam. I'll bet there are a few people out there who don't want MDMN to do investigate anything because they will be implicated.
As sad as it is, you are correct. I don't think there is any way that MDMN digs itself out of this hole. AURYN doesn't give a crap about a worthless pink sheet stock. They are probably figuring out a really creative way to offload this albatross. MDMN was Les' piggy bank and boy did he make good use of it. I think it is a tragedy that shareholders got snookered but when it comes to the pink sheet markets, getting scammed is the rule, not the exception.
I sincerely hope you are able to recoup some of your loss. I know what it feels like to be scammed.
v/r
jp1101
LOL over a game of Parcheesi; I think les is too old for shuffleboard plus it gets his Depends in a bunch.
Canada doesn't have a version of Pacer and from what I've been told, it costs a lot of money to get any documents. I think we'll just have to follow along in the news. The other board is talking about it and boy are they mad (rightfully so). They may actually be a good source of information because they are motivated to make Les pay for what he did to MDMN.
That would be most appreciated. I suppose when you have Les Price involved in anything, these are the kind of things that happen. Cracks me up - tow of the guys who he made the oral agreement with are dead and the other hates his guts. Should be an interesting day in court.
This will make you laugh your ass off...Les Price sues MDMN for over $2 million.
http://www.stockwatch.com/News/Item.aspx?bid=U-s0143946-U%3aMDMN-20161025&symbol=MDMN®ion=U
LOLOLOLOLOLOLOL
Well considering Les Price just sued MDMN for over $2 million, I can't imagine anyone in their right mind would want to buy this stinking pile of fecal matter.
This is rich.
http://www.stockwatch.com/News/Item.aspx?bid=U-s0143946-U%3aMDMN-20161025&symbol=MDMN®ion=U
The comedy never ends with MDMN. Now Les Price, after robbing the company blind, is suing for unpaid debts. You can't make this stuff up.
LOLOLOLOLOLOL
Yes we know everyone makes their own choice. Thankfully there are forums like iHub where investors can come and hear the other side of the story. Thankfully, there have been people with integrity on this board who had the courage to call out MDMN for the scam that is was and warn people not to invest. Thankfully, those people continue to speak out and uncover new evidence that MDMN is a fraudulent company with the sole aim of ripping off investors.
As the price continues to drift lower and lower, one can only wonder who is selling. My guess is that Les is unloading all he can while he's still able. 1.6 billion fraudulent shares is a lot to dump on a limited shareholder base but my guess is he is trying as hard as he can.
Maybe the SEC should suspend this garbage and end this for good.
Auryn only cares about Auryn, they don't give a hoot about MDMN. I think Tupper is the right guy for the job. I think he'll do a really good job of letting shareholders know exactly what is fact and what is fiction. He'll probably tell it like it is and not feed shareholders BS about dividends, $60/share prices, gifts from managements, and all the ellipsis' that come with that general line of garbage.
He should add all those guys. Just getting them on the board to be a decision-making body would be a huge benefit to MDMN. What Tupper needs is some quality people in his corner who can really move the needle forward. Having shareholders with legitimate skin in the game would be a bonus. I don't see why Mark, HR, Baldy and Tupper can't run this board the way it is supposed to be run, clean up the books, and get MDMN back on track. I understand these guys may not have a lot of time to dedicate to this but given that its probably going to take 2+ years for the lawyers to figure out how bad Les f***ed this company, I'd say they have plenty of time.
Here's another thought - instead of having them jetset all over the globe going to meetings, why don't they leverage technology and use Skype or gotomeeting? Sure would limit the need to dilute the shareholders.
Bottom line, what MDMN needs now is good leadership to right the ship. I honestly think Tupper is a good start; now lets round out the management team with folks who actually care about the company. Not to mention, they are all pissed at Les which makes it more likely that they'll nail his ass. Pass the popcorn!
You make a good point but they always thought they had someone working for them on the inside. Turns out everyone involved was a crook although maybe Gary has done redeeming qualities given his stated desire to at least try and clean up this mess. Tupper is one of the good guys who just got hammered like everyone else. I don't know how much he can do given the carnage Les left in his wake but I give him serious props for trying. If I were him, I'd look to get HR and Baldy on the BOD as fast as possible.