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Did you read what I wrote? AURYN just completely unwound it.
He doesn't know what he's talking about. AURYN unscrewed us. All of LDM, Nuoco, Mambo, etc was put back into MDMN. MDMN has 15% / AURYN has 85% after option exercised. In exchange for that it seems like the boys will get some post option exercise cash or possibly stock in MDMN for the $3M they invested so far in the project.
This is easy money.
AURYN didn't submit an offer for the LDM / NUOCO property and not plan on fully exercising their option.
Easily 10 to 12 cents a share minimum to start.
By the verbiage I think Chapin wrote it and Vittal signed it.
Not correct. There were auxiliary agreements to the main contract that have already been signed. This trip has nothing to do with those.
Returned shares to the treasury.
This shouldn't be a surprise to anyone. The full agreement including all the claims, terms, and conditions were published when it was entered into. They are still available on MDMN's site.
There was no requirement to hit 10 cents. The value was $0.10 a share conversion. So it doesn't make economic sense to convert below 10 cents. You're converting into a loss at that point and losing preferred status.
Of course, if you know that an option is about to be exercised or an offer is coming that you want to be able to vote on, you may want to.
Why do people think updates are coming when a site is momentarily down?
There is no reason to take a site down to put up an update. It is FAR more likely that there is a connection issue on a hop between you and them or that their shared host has the surfer offline for a moment.
IN FACT, the site is up just fine.
Anyone selling MDMN under $0.20 are one of three things.
- Ignorant of what is going on
- Financially Desperate
- Flippers trying to trade for profit
It doesn't matter what Greg, Les, or Juan do. It doesn't matter what or why people sell into the bid. It doesn't matter what shareholders and non-shareholders pontificate.
The game is over. MDMN properties are sold (and probably the whole company.) They are just haggling over price.
AURYN didn't cap the share issuance, drill what they're drilling, setup offices in Santiago, put in an LOI to buyout LDM and NUOCO, because they aren't sure what they're going to do.
The writing is on the wall for those with eyes to see. Too bad management's issues getting to this point has so jaded most people to the point of blindness.
Criticize me and my post all you want. My friends and I will make a fortune.
It looks like Medinah now has a corporate Facebook and Twitter page.
http://www.facebook.com/Medinah.Minerals
http://twitter.com/MedinahMinerals
They didn't miss that. Drilling exploration beginning doesn't mean necessarily that drills are turning at the immediate start of the exploration stage.
Drilling begins within one week. Next week they finish road work, move the drill rigs up, position them, and drill.
This is so easily manipulated. Taking candy from a baby.
Expect to see more AURYN type folks come on. Buyout coming soon.
JJ when do you we cross 10 cents for good?
No inside info need Veblen. MDMN is significantly discounted at these prices. Anyone can see that by looking at all the information which is publicly available and not listening to those with agendas.
Good luck getting at at $0.081. You better hope AURYN isn't too serious about wanting to buy MDMN stock on the open market.
I'm not speculating.
You can speculate all day long about what is in the agreement but what is not announced. Hopefully MDMN will publish the full agreement so we can but an end to negative speculation and baseless hype.
As for why AURYN would want it, here is my take. Board members of AURYN own shares in MDMN. At a minimum Roberto owns 2,000,000 shares for being an MDMN director. It is much more but I will not give you documented evidence. It would not surprise me if AURYN itself buys shares now that the agreement is announced.
MDMN has had a history of being a little loose with their share issuance. AURYN plans on paying MDMN at least 100 million to buy out 85% of the ADL. I expect they recognize the incredibly low valuation the market has given MDMN. Putting a cap on share issuance and buying stock gives them a nice discount on an eventual 100+ million ADL purchase option.
Greg is responsible for helping see us through "Little Caesar" controlling the property. Kudos. However Greg controlled the Q&A and Shareholder Update writing over the years. Writing isn't his gift. Hopefully he won't be like the "Napoleon" and will turn that area over to someone more qualified.
It's only unclear for people who don't understand what "fully-diluted" actually means or for people who intentionally want to make it unclear, or for people who think everything MDMN does is unclear.
Seriously folks. We know MDMN has written ambiguous and lousy press releases in the past. This isn't one of them.
Fully diluted has one meaning and only one. Issuance also has only one meaning. They can issue as many shares as they want until the fully diluted share count reaches the 1.5B cap. After that they can no longer issue shares of any kind or class for the 3 years of the agreement.
The language is as plain as day. Anyone interpreting any other way than it is plainly written is doing some serious word gymnastics.
Then tell them to start eating. There are plenty of shares available.
Why are they waiting?
If the party has started where are the guests?
Lucky you. 8 years means you bought under $0.02
It does not. But anyone who understands the sector realizes that is the case.
I'm not sure what you're talking about. That story doesn't play. A decade ago this was trading under a penny. It's already a 10x return from there. It will probably be another 10x+ return over then next 3 years.
Great commentary & spreadsheet posted by Hurricane_Rick comparing several years worth of joint ventures!!!
MDMN has a big one.
Chilean Joint Venture Comparison
Thanks Rick. Can you put this in the Intro box or make it a sticky? This is absolutely fantastic due diligence. It must have taken you hours and hours. Thank you for sharing it.