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IMO, Auryn thinks of MDMN as the creepy uncle in the room. You know the one who is always at thanksgiving dinner, smells of cheap booze, and makes random sexist comments at your sister. Everyone tolerates him but no one really wants him around. But he's family so he gets invited to every holiday. Secretly though, everyone is trying to come up with a reason to never invite him to another event because it's just plain awkward. MDMN is the creepy uncle and sooner or later, "the family" will find a way to get rid of him and the kicker is, they won't feel bad when they do. He'll be the punchline at every other gathering; while he's drunk in a gutter, the family will be dining in style and laughing all the way to the bank.
The odds of MDMN hitting $1 without some sort of reverse split are about as good as the odds of finding Les Price's integrity intact.
One of the principal clowns pumping MDMN on their alternate shareholder site posted this gem:
Why is Auryn staying off of Facebook until after the holiday? It isn't a Chilean holiday, why do they care? These may be written by a company man but they are heavily influenced by some insider at MDMN. This is my opinion, but I've spent a lot of my career as an analyst and those tweets and FB posts are not free from MDMN insider bias.
Squirrel.
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HR, I agree with your comments. Shareholders have been given the shaft for so long and some may still think that they are getting screwed. While the company must make economic decisions, my math demonstrated that it wouldn't take much to give shareholders a bit of respite from what they have been enduring. It would also have the added bonus of helping out the financiers. But I agree, if the dividend isn't coming out of money gleaned from the property and is only a transfer of wealth from the financiers, it probably doesn't make sense to do it simply in the name of good will and to prove the point that "we aren't going to screw you".
MDMN owns 25% of AMC
Doing some rudimentary back of the envelope calculations and assuming that MDMN keeps the share cap at 1.5 Billion, if AMC decided to issue a $0.01/AMC share dividend, that would be equal to $0.0001667/MDMN share.
So if you hold 1 Million shares of MDMN, you by proxy hold 16666.67 shares of AMC. A $0.01 dividend by AMC gets you $166.67 in your pocket, or if you reinvested at todays price of 0.0143, 11,655 more shares of MDMN.
Seems like a reasonable thing to do for AMC to prove that they have the best interests of the MDMN shareholders in mind. Why not spend $1 million, issue a $0.01/AMC share dividend, and recoup the money once they begin production? We've been told they are spending millions on the mountain, this seems like a pretty decent gesture of goodwill given that they now control the mountain. If the mountain is as rich as people claim, this is a drop in the bucket compared to the amount of money they will make.
Thoughts?
Masglas and Auryn needed MDMN for one reason and that was the property. This was the only trump card that MDMN shareholders had to play. Unfortunately, rank and file shareholders never had an opportunity to play it because they were never really in control of MDMN. Insiders like Lester were always in control of the majority of shares and never gave people like you the opportunity to chart the course of the company. Have you ever been able to vote your shares on any BOD proposal? The answer is no and this was intentional (and is with most craptastic pink sheet stocks). Now that Auryn and Masglas control the property, do you really think they gave a rip about some crappy pink sheet stock that doesn't even trade on a legitimate US exchange and produces kindergarten-quality financial reports (my apologies for insulting kindergarten children)? The obvious answer is no and while various entities do own shares in MDMN, my guess is they didn't purchase them so they aren't out any real money. They were given these shares either via compensation or some secret deal wherein their risk is substantially less. Any loss due to these shares can probably be written off on their taxes. My point is, they don't give a crap about MDMN. They accomplished what they set out to do, gain control of an unproven property. They took a risk but like good businessmen, they minimized this risk to ensure that if the property doesn't pan out, the losses will be minimal. I concede they are spending money to see what they actually purchased and they are hoping that their exploration program yields results that will net them good returns. But if it doesn't...they'll move on to the next property and MDMN shareholders will be looking around with not even a pot to piss in. You and your fellow shareholders are at the poker table and you are "all in". Given the fact that major companies in the area have been passing up on this property for decades, I'd venture to guess your odds aren't good. Your only hope now is that the mountain delivers in spades AND the folks running the show in Chile care about you. If they don't, and I suspect they don't, you will probably come away with a pittance at best and a big fat goose egg at worst. Lester, JJ, and the whole s***show of a management team screwed you. I think Auryn is more ethical but this game isn't about rewarding longsuffering shareholders - it is about minimizing risk and maximizing reward. I'm positive Masglas and Auryn did this and sadly, MDMN shareholders will probably pay the price.
You are correct, it all depends on the property. I do think that they (Auryn, Masglas, etc.) knew exactly what was going on with MDMN before they entered into a deal regardless of the wording in the press release. Because they knew the absolute mess that MDMN was, I believe they structured the deal to be incredibly advantageous to themselves and not the shareholders of MDMN. Taking on risk requires reward and in my opinion, Auryn, Masglas, and whoever else is involved behind the scenes in Chile will reap whatever rewards come down the pike and leave scraps for the shareholders. This is how shrewd businessmen operate - a far cry from Lester, JJ, and the clown show that has been running MDMN for decades.
Hopefully for the shareholders sake, the deal is fantastic and you all make out like bandits but I wouldn't hold my breath. The MDMN BOD has NEVER once done what is in the best interests of shareholders. They have always sought to enrich themselves at the expense of shareholders. I doubt this time was any different. Sure, Lester and his merry band of flunkies will make out but I'm of the opinion that shareholders will once again get screwed. Remember, this is the last go for shareholders - if this deal doesn't work out, there is nothing left, there is no partner D, E, F etc.
...which will never be answered by anyone affiliated with MDMN.
Interesting. One of the many mysteries that makes iHub such a fascinating place. Maybe Monk and Yak are in some remote monastery, deep in the Hindu Kush mountains; one mediating on his crimes, the other planning his return to cyber chat rooms.
These clowns have promising revenues, dividends, and all manner of pie-in-the-sky dreams to shareholders for decades. None of their promises have ever come to fruition.
Why should shareholders believe them now?
All,
This may be an odd question and one that may have been answered before but I never did get the story.
What ever happened to the Yak?
He was a prolific poster and then one day just dropped off the map. Did he suffer a fate similar to the infamous Monk or was it something else.
Any thoughts, speculation, wild theories, or just the truth would be much appreciated.
v/r
JP1101
The regulators don't care about MDMN. There are so many insider enrichment schemes flying around the OTC and pink sheets; they don't have the time to deal with them all. As long as Les and the rest of this clown show don't do anything blatantly illegal, they can keep fleecing shareholders for perpetuity. I suspect this is the plan and has been since day one.
http://web.tmxmoney.com/article.php?newsid=8057321937642612&qm_symbol=RPM
At the request of the company, pending news.
A new chapter or dawning occurs about once every 2-3 years in Medinahland. Typically, it happens after they ink some "deal" with some entity that more often than not turns out to be a complete fraud. We'll just have to see how this latest "chapter/dawning" turns out but if history is any indicator, it won't end well.
Mr. Market sure seems thrilled with this news.
This guy is pretty smart.
http://www.cnbc.com/2016/05/16/buffetts-berkshire-hathaway-takes-new-stake-in-apple.html
Gray sheet stocks NEVER become viable again. NPER is suffering the same fate as countless pink sheet scams that have fleeced investors and left some destitute. NPER will NEVER have it's day and will NEVER be a legitimate company. It doesn't matter if you want it to be true, facts are facts. The gray sheets are where scams go to die and NPER is no different.
As for MDMN, I'm fairly confident it will suffer the same fate but I think that the guys who run it are going to continue to drag it out for as long as they can. Remember, MDMN is Les Price's and the BOD retirement ATM. They need to be able to dump shares on clueless investors until they all take the dirt nap. They have great army of shills to help them sell this desert dirt scam so I think we'll be discussing MDMN for a long time. They will make sure it is viable so they can continue to live the lifestyle they are accustomed to all courtesy of the shareholders.
I just shorted 4 trillion MDMN shares yesterday.
If I provided you airplane and hotel receipts along with pictures that proved boots on the ground AND that MDMN was a scam, would you change your mind?
With one exception, every sell today was larger than every buy.
I'm very concerned and you should be to. It is high time this clown show came to an end. Maybe shareholders who have been bent over for 20 years grabbing their ankles while Les socks it to them should rise up and do something about the con men running this circus. Or you can do what you've always done, apologize for their actions and hope. Hope isn't a strategy and neither is investing in MDMN stock.
This is the big week for MDMN. This is when the final negotiations are complete and the big MOU gets signed. You know it isn't going to be good for shareholders when the typical shills are trotting out the now debunked "MDMN short" theory again. Les has traveled to Santiago for important business (read: getting loaded, staying at 5-star hotels, and eating fine Chilean goat cheese all courtesy of loyal MDMN shareholders). Personally, I'm standing by for another slew of excuses to come pouring forth from the BOD. These people couldn't find their ass with both hands and their ass; how do you expect them to negotiate a deal with shrewd South American businessmen? Shareholders will get taken to the cleaners yet again.
This is a shameless pump and dump that has cost people a lot of money. Good grief, some older folks even died waiting for the promise of riches. Les and his cronies should be ashamed of themselves. When this thing finally collapses, I hope he and all the other slime balls are held accountable. Doubt it will happen but you never know...
Until then, trade it like you stole it Ex!!!
The $0.012 lvl seems to be good support but the consistent lower highs do not bode well for a higher share price in the future. MDMN shareholders got screwed again and they should be downright pissed at this point in time. I'm not sure when they will all realize that Les bent them over and stole their money but when they do, it will be quite the epiphany. As they say in the military...BOHICA - Bend Over Here It Comes Again.
I'm turning blue as I type this, thanks for the advice.
I wonder how long Les can continue to string MDMN shareholders out like a drug dealer with a legion of addicted junkies. I figure this MOU is probably good for at least a year.
Keep flipping and making money on this pig. According to the echo chamber, you will only have three weeks left to do that before the magical MOU makes everyone rich. MDMN has been down the MOU road before - a good excuse to string shareholders along for another few years. If you have the courage to trade this stock, I strongly suggest listening to Ex Blockman - he knows what he's talking about.
FYI, I have it on fairly good authority that this latest MOU is nothing more than another smokescreen. Nothing coming out of this company is legit, why should they start being legit now? Boots on the ground are a wonderful thing.
Share buybacks, dividends, bonanza-grade gold, world-class deposit...they have been spouting this BS for decades. It is nothing more than smoke and mirrors carefully orchestrated to keep retail buying MDMN shares while management continues to dump millions of free shares on shareholders. They make this crap up as they go along and when it all fails, they recycle the same old tired excuses and fill shareholder heads with promises of new and better deals. 25% of this and 10% of that; all just fuzzy math designed to bamboozle anyone who thinks they'll get rich quick in this desert dirt scam.
The SEC is too busy with bigger fraud cases to care, the BOD knows this. Nothing will ever happen to these guys; "da boyz" are too smart and don't want to give up their ATM. It is one giant scam - the difference with this one is that "da boyz" have been at this for so long that they have hoodwinked some fairly intelligent people into believing their lies. They have defenders who don't want to admit they have been suckered and will defend "da boyz" until the bitter end. It really is sad but there have been people warning about MDMN for years and no one wanted to listen. It was much easier to run off to highly censored message boards and bask in the glow of their own echo chamber than it was to actually admit that maybe some of the posters on iHub were right. I know this may come as a shock but there are those of us with decent resources who are capable of performing good DD. Sometimes listening to an opposing viewpoint is critical in ensuring your DD is correct.
More news out.
http://www.medinah-minerals.com/?p=3479
SHAREHOLDER UPDATE
April 5, 2016
Dear Medinah Minerals, Inc. Shareholders:
Management and the Board Directors of Medinah Minerals, Inc. (“MDMN”) are very pleased to announce the signing of a Memorandum of Understanding (MOU) with AURYN Mining Chile SpA.
This MOU articulates Terms and Conditions conditionally agreed upon by the parties regarding the sale of MDMN’s Altos de Lipangue group of mining claims. This adds to AURYN’s previous holdings and will now encompass an area in excess of 10,000 hectares that has been determined by numerous mining professionals as a potential “world class” project.
The MOU is subject to final negotiation and contract signing in Santiago, Chile before a Ministry of Mines Notary to fulfill Chilean law requirements. This transaction will be formalized by the parties during the week of April 23-30, 2016 in Santiago, Chile.
This MOU provides that AURYN acquires and assumes all rights as well as the encumbrances of the mining claims owned by Medinah Mining Chile (“MMC”), and known as part of the Altos de Lipangue Project, in exchange for a 25% equity stake in the AURYN Mining Chile SpA’s capital structure.
Furthermore, AURYN has also granted an option to MMC/MDMN Company to acquire an additional 5% equity stake in AURYN’s capital structure. The option is for a five (5) year time period that formally begins after the signing of the Sales Contract before the Notary. The option period is exercisable by MMC/MDMN, at its sole discretion at any time within the option time frame, with designated payments to be determined among MMC/MDMN and AURYN Mining Chile, SpA.
This MOU, in conjunction with AURYN Mining Chile SpA’s three (3) previously reported acquisitions of other proximate mining exploration entities, effectively amalgamates 100% of the Altos de Lipangue (“ADL”) Project claims.
Of note, MMC remains as a 15% shareholder of S.C.M. NUOCO, a Chilean Company in which AURYN Mining Chile, SpA holds the remaining 85% interest of the stock issued. MDMN, under the MOU Terms and Conditions, would have 36.25% of all production from the NUOCO claims (25% of AURYN’s 85% = 21.25% + its original 15% holding = 36.25%).
Through the provisions of the MOU, AURYN Mining Chile, SpA will assume all responsibilities and liabilities of the ADL Project. On March 31, 2016, all land use and mining claims taxes, corresponding to calendar year 2016, were paid by AURYN.
Upon memorializing the MOU into a formal contract, AURYN Mining Chile SpA will further its negotiations to add specific surface rights of adjoining mining claims in order to continue its extensive exploration program leading to production on the denominated Pegaso Nero target.
Upon formal completion of the MOU, all previous Option Agreement contracts and addendums thereto will be deemed null and void.
AURYN Mining Chile SpA, after expending millions of dollars towards exploration, drilling, trenching, excavating, and assaying thousands of samples, is confident that this Sales Agreement Contract will be mutually beneficial for the parties involved. AURYN will continue to bear all exploratory, drilling and operations expenses to prove up all of the Altos de Lipangue Project mining claims.
AURYN Mining Chile SpA has already secured required environmental permits that allow production operations on the ADL this year. Additionally, AURYN has initiated several applications for expanding production goals with each of its acquisitions on the Altos de Lipangue Plateau. Chilean Mining Laws demand applications for increased production tonnage as well as environmental impact issues from mining operations. AURYN has already made several anticipatory applications to the Chilean Ministry of Mines.
As the 25% equity owner of AURYN Mining Chile SpA’s capital structure, MMC/MDMN will now benefit from their share of production rewards from several properties, not previously owned, including the Fortuna de Lampa (CDCH), Caren, Pegaso Nero, Columbo, Mambo, and the LDM/NUOCO claims. MDMN would also have a like 25% equity holding in other properties that AURYN may add to its portfolio.
AURYN Mining Chile SpA has multiple world class P.Geo’s, Geologists, and Mining Engineers that have analyzed the data from their ADL drillings and trenching discoveries and determined that various claims targets are assaying results referred to as Bonanza Gold finds. Several Mining Engineers and Mining Geologists have also reported the evidence of Copper and Gold Porphyry structures on the Altos de Lipangue Plateau that are yet to be fully drilled and explored. Recently, AURYN officials uncovered a 1.7 kilometer gold vein at surface that they assayed over one (1) meter intervals. The results of these activities, as determined by the AURYN geological team, have expressed USD billions of dollars of commodity values. AURYN Mining Chile SpA has initiated site locations for early stage production activities on the Altos de Lipangue Plateau. Further, AURYN has conferred with Enami, Chilean state production/processing locations, concerning transportation and receivership of the high-grade (Bonanza) gold to their facilities.
After having endured many years of struggles and challenges as a Company, the Medinah Minerals, Inc. Board of Directors considers this MOU to be very significant and a major milestone event. In addition, given the very difficult commodity markets, the global rout in the market cap of the world’s mining companies and the collapse and drying up of capital for the junior mining industry, MDMN is extremely pleased to have a well-funded, professionally run and highly competent partner in AURYN Mining Chile SpA.
MDMN effectively becomes an Asset Holding Company. All percentage cash flows, resulting from production on the mineral-rich Altos de Lipangue Project claims, will be disseminated to MDMN by AURYN Mining Chile SpA on a quarterly basis.
Further, the Company’s goals are to look at the real possibility of issuing cash dividends, and initiating share buy-back programs. Medinah shareholders will share in the free-carried ADL production revenues for many, many years to come.
The Board of Directors will undertake necessary steps to determine cost, a location, and a date in the near future for a Company Shareholder Meeting.
On behalf of
Medinah Minerals, Inc. Management
Cautionary Statement – Forward-Looking Information
This news release may contain certain “forward-looking statements” within the meaning of the United States Securities Exchange Act of 1934, as amended. This forward-looking information includes, or may be based upon estimates, forecasts and statements of management’s expectations with respect to, among other things, the completion of transactions, the issuance of permits, the size and quality of mineral resources, future trends for the company, progress in development of mineral properties, future production and sales volumes, capital costs, mine production costs, demand and market outlook for metals, future metal prices and treatment and refining or milling charges, the outcome of legal proceedings, the timing of exploration, development and mining activities, acquisition of shares in other companies and the financial results of the company. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially and substantially from those anticipated in such statements. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves.
All other contracts, agreements or addendums are cancelled upon the completion of the aforementioned MOU.
What this means is that the share cap that was in place (at least we were told it was) is most likely going to be lifted which gives MDMN insiders another 1.5 BILLION shares to dump on the market as they string shareholders along for perpetuity.
MDMN is nothing more than an insider ATM. Their lifestyle is subsidized by the retail shareholders who are buying into the BOD's lies.
Some of us have been saying this for years. I'm very happy I did my own DD and believed my source years ago. Exiting this trash at .17 seems like a pretty good deal at this point.
No major is going anywhere near MDMN. Assay reports are fabricated all the time. Unless MDMN can show a major that they are a clean company with nothing to hide, the majors will never stoop down into the gutter and entertain Les' wild theories and delusional stories, not to mention his borderline illegal communications with select shareholders. Let's all repeat this together...desert dirt mining scam.
Anyone who currently owns shares is being fleeced by MDMN. Anyone who previously held shares and sold for a loss has been fleeced by MDMN. It's a good old fashioned shareholder screw job courtesy of Les, JJ, Chapin, and from all we can gather, Senor Letts and Auryn. MDMN is trading at 1.4 cents; it previously traded near 17 cents. Shareholders have been diluted, the company has been mismanaged, and no amount of lipstick will make this pig the next Miss America of the mining community. MDMN is a standard desert dirt mining scam - the only difference is "da boys" have managed to keep this s***show alive for nearly 20 years.
Utter BS. If the mountain was full of riches, some major would have pounced on it when gold was headed north of $2000.
Auryn isn't about to start anything except a fresh fleecing of shareholders. Auryn and MDMN insiders will be the only beneficiaries.
MDMN shareholders will be commiserating with each other in the poor house yet again. Did you hear the rumor that another long term shareholder bought the farm recently? What happened to the "London Group"?
MDMN is a scam...
You are correct, there won't be a lawsuit because shareholders won't be able to admit they got royally F***ed by MDMN management...again.
Shady dealings abound, to say otherwise is delusional.
Double...triple...four or give times your losses from here.
There will never be a lawsuit brought against MDMN (although I would love to see one because it would be so entertaining). The shareholders will one day realize that they got shafted with a rusty rake and will slink away into the shadows. While the SEC should care about scams like MDMN, the reality is that they are not staffed to handle all the fraud that is rampant in the ranks of non-reporting stocks. In the "wild west" of investment, it's buyer beware.
Shareholders are actually more comfortable sitting on a loser and not selling because as long as they hold shares, there is hope. Right now, all they have to do is admit that maybe they made a mistake but...there is the hope that they didn't and eventually the stock will go up. If they sell now, they have to admit that they made a mistake in buying and possibly a mistake in selling. If they sell and the stock does go up, they have to live with two mistakes instead one. Human nature compels them to continue to hold because it is easier to live with one mistake and hope than two mistakes and no hope.
MDMN has been fleecing shareholders for decades and yet people still believe in the stock. They all realize that this is either boom or bust, there is no middle ground. When MDMN does finally collapse, and it will, any money spent on a lawsuit will be just wasted effort. There will be no money left. Les and "da boyz" have stolen it all. MDMN has no assets that are worth anything, how are shareholders going to get their money back?
At this point in time, I'd swing this like a baseball bat and try and recoup some of the losses. I doubt we'll see 5 cents again let alone 10 or 20. I could always be wrong and if that is the case, I'll readily admit that, but from where I sit and based on the research I have done, this is sinking like the Titanic.
Because MDMN is, and has always been, an insider share-selling scheme. Everyone is in on it. They use shareholders like ATMs and have been doing it for decades. They tout the promise of riches in the mountain to obfuscate the real truth. It doesn't take a geologist or a rocket surgeon to figure out that if there was any real "economical" gold in the mountain, the majors would have been all over it like stink on a money years ago. Les and his ilk continue to bamboozle shareholders and they continue to believe his lies. The share price tells the tale and it isn't one filled with champagne wishes and caviar dreams.
LOL, too funny that someone thinks they can keep this sinking ship afloat with an EOD trade. What a farce...when do you want to bet this goes subpenny?
Yikes, am just now getting back to looking at this pig. What happened, I thought good news was just around the corner?
Hey Ex, do you remember the first time this pig ran all the way from .04 to .17? Those were to good old days, back when JJ was king dog, Les was the man, and all that needed to happen was for DHS to free up the funds. Champagne was flowing at the shareholder meeting, people were slapping each other on the ass and ordering up Ferraris, and all JJ had to do was pat his coat pocket and say they had a $180M deal in the works. Wasn't someone hawking DVDs of that Las Vegas party for a couple hundred bucks?
Funny how all the people partying it up didn't realize that Les, JJ, and the rest of the BOD scum were drinking on the shareholder dime. If I recall, you and one other guy were the only people with any common sense in the room but that was quickly shouted down by the hoards shareholders who hung on the BODs every word.
Have times changed...and why won't MDMN hold another shareholder meeting especially now that they are with a legit partner? Why won't the BOD face the music from the shareholders? Everything is legit, seems like now would be the perfect time to get the band back together and explain what is going on.