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Sterling - Question for You
A little OT, but you remember SOCU, don't you?
Did a 1000 to 1 reverse split a few years back and changed to GMUI.
All I had was about a shot glass full.
Lost it's pulse for quite a while.
Changed from oil to gold.
Today they brought out the paddles and shocked it!
Maybe all this one needs is a little "shock" treatment. lol
Definitely set sail on the waves of recovery.
Let me know what you think.
TIA
CORRECTION! It was AUG 27 Update:
Shareholder Update
August 27, 2013
Dear Medinah Shareholders:
Medinah Minerals, Inc. (symbol: MDMN) Announces the Acquisition of 100% ownership of the shares of Medinah Mining Chile.
Medinah Mining Chile has now been restructured in order to facilitate a new Joint Venture Agreement. Medinah Minerals, Inc. has contractually purchased 100% of the ownership shares from each of the parties of Medinah Mining Chile. Medinah Mining Chile has acquired 21 additional properties including 100% ownership of the entire Gordon breccia. The consolidation of these claims now formulate the definition of certain properties identified as the Altos de Lipangue group of breccia claims to be entered into the Joint Venture Agreement.
The trade of all of the outstanding shares of Medinah Mining Chile to Medinah Minerals, Inc. was transacted by the issuance of 35 million non-voting Restricted Class “C” Preferred Shares of Medinah Minerals, Inc.
** Medinah Minerals, Inc. wishes to advise that this is our official Web Site. Medinah Minerals is not responsible for the presentation of any Company information made available on any other site.
Dear Medinah Minerals, Inc. Shareholders:
Medinah representatives, Dennis Tenney (CEO), Les Price (Trustee for Medinah Mining Chile), and Gregory A. Chapin (Secretary/Director), recently travelled to Santiago, Chile to meet with Juan José Quijano Fernández, President and Board Chairman. Over the period of August 18 to 26, 2013, the parties transacted important company business with various mining company officials. During the course of continual negotiations, we traversed and featured the Altos de Lipangue properties. Additionally, we visited, reviewed and inspected the progress at the Las Dos Marias/Los Amigos #1 mining operation. We also visited the San Pedro Mill in the town of Til Til where we observed our copper ore being processed.
Furthermore, as a result of our combined efforts, we are pleased to report the following: Medinah Mining Chile successfully acquired 100% of the Compañia Minera Altos de Lipangue Limitada mining claims that were previously owned by Mr. Juan José Quijano Fernández and related parties. Medinah Mining Chile also acquired twenty-one additional properties, including 100% of the entire Gordon breccia claims.
Medinah Minerals, Inc. in turn, has contractually purchased 100% of the ownership shares of Medinah Mining Chile. All of this was necessary as a condition of final negotiations with a major joint venture partner. These foundational negotiations are proceeding in an expeditious manner.
** Medinah Minerals, Inc. wishes to advise that this is our official Web Site. Medinah Minerals is not responsible for the presentation of any Company information made available on any other site.
DonD: "We are extremely pleased to announce..." THANKS
Yes, I (and I believe other shareholders, as well) welcome the company's movement toward timely accurate information being released in updates and future NewsWire releases. It helps move our investment here forward. I'm reposting my comment from the earlier Sept. 4 Shareholder Update at the urging of a PM I received. These newer updates and releases under Dennis Tenney are a step in the right direction welcomed by all.
Re: Hurricane_Rick post# 59129
Post # of 59343
SHAREHOLDER UPDATE - Thanks for Posting HR!
Beyond all the nefarious fear mongering conjectures, I think the explanations are really simplified into two major points. No more forward carrying interest notes in the way of one-sided loans to JJ for accountants to explain. Simply stated, it satisfies reporting requirements of publicly traded companies as it cleans up any grey areas of one public (MDMN NA) and one private company (MDMN Chile) trying to explain who paid what and when. Simplifies all the financials to one company reporting under:
Alternative Reporting Standard: When SEC registration is not required, companies must generally still make information publicly available pursuant to Federal securities laws, including Rule 10b-5 under the Exchange Act and pursuant Rule 144(c)(2) under the Securities Act. OTC Markets Group offers the Alternative Reporting Standard for companies who choose to make material information publicly available to investors.
Also, now there is only one company and it's officers to deal with in determining signing all requirements and future details of any negotiation. Best possible outcome for all shareholders at this stage. We have the first step in becoming a profitable and fully reporting company announced today, IMO.
Invested in the Mountain ...
and That's What Counts!
$$$$ I'll be Taking it to the Bank $$$$
easy
RD759 - Yes You Are Correct, Of Course!
Not what many here want to be hearing.
Major and Junior Mining companies are near a bottom, according to many chartists.
As to your second question, I really don't know; I cannot fathom out the way the stock market operates. The company I worked for is currently trading at $0.61 after the JV; Six months ago it was trading at $1.20. Another company I worked for, a junior with a string of good projects is trading at $0.035 and another company with an excellent producing gold mine is trading at $0.09. I have to scratch my head when I see people predicting MDMN will reach over $1. I'm not saying it won't, just that I don't understand why!
Alert With Information - AWI In all seriousness, it makes no sense to have open pit mining without substantial acreage, access, and yes, I believe you are right ... proven reserves. When a company without deep pockets signs a contract with a producing mining company, the primary purpose is to have the JV partner fund the drilling and be responsible for turning potential resources into Proven Reserves on the claims. It helps to have property of sufficient size and promise based on initial drilling, surveys and reports, which I believe Medinah Minerals has acquired. We'll just have to wait to see who signed, and for what amount of $$$. Bottom line - Will the theory of "shallow" centimeters or "deep pocket" square hectares pan out in the end.
Exactly right JP ... my Bad!
Thanks for the correction, although a little overboard for an inadvertent slip that HR correctly and expertly explained in detail in response to your comments. Thanks HR!
Lapse from late night memory if you were following my entire thread where I had the exact quotes highlighted (with a few more added tonight). So I'll repost, with the correction. Tell me again if you think it was germane to what I expressed concerning the 2007 Satellite Report of Clemente Sepulveda Perez:
Results From 2 Translators
Spanish to English
CONCLUSIONS
1. In this area of study have located: a deposit which can be classified as PORPHYRY copper type (in the area of the plain of los Altos de Lipangue) and molybdenum-in addition, a PORPHYRY of copper in the immediately adjacent area located to the South of the former.
2. The types of mineralization found in total include; porphyry disseminated, stockwork areas of cizalle, brecha-pipe, cloaks, skarn, mineralized faults, veins and gold mines.
3. The exploration efforts already made, have crystallized into the formation of legal mining companies which possess valuable history of resources and reserves. Some of these reservations have already been carefully assessed and are now traded in the United States metals bags (U.S.A.).
4. The volume of mineral resources identified to date, already varies reaches hundreds of millions of tons, mainly assigned to the porphyry and skarn added together.
5. Exploring strategic and current tactics of the owners, aims to follow up reservations from the mining resources already identified.
6. The exploration methods used to raise reserves include:
a detailed geological mapping
b geophysical exploration methods
c drilling campaigns.
7. All the foregoing clearly shows that we are here facing a famous old district miner who today presents a potential resource, which can be certainly classified as world class.
CONCLUSIONS
1. - In this study sector they have been located: a deposit that can be classified as of the PORPHYRY type DE COPPER - GOLD (in the area of the plain of the High places of Lipangue) and, also, a PORPHYRY ONE OF MOLYBDENUM - COPPER in the immediately contiguous area located to the south of the previous one.
2. - The types of mineralization found in whole include; porphyry spread, stockwork, areas of cizalle, breach(gash)-pipe, cloaks, skarn, you fail mineralizadas, veto and golden laundry rooms.
3. - The already realized exploration efforts, have crystallized in the formation of mining legal societies who possess valuable precedents of Resources(Resorts) and Reservations(Reserves). Some of these Reservations(Reserves) have been already appraised in detail and today they are traded in the metal Stock Exchanges of the United States (U.S.A).
4. - The volume of Mineral resources identified to the date, it already reaches to varies hundreds of million tons, principally assigned to the porphyry ones and skarn added as a whole.
5. - The strategic exploration and current tactics of the proprietors, point to keep on raising reservations(reserves) from the already identified Mining Resources(Resorts).
6. - The methods of exploration to be used to raise Reservations(Reserves) meditate:
a. - Detailed Mapeo Geológico
b. - Geophysical exploration Methods
c. - Polls(Soundings) Campaigns.
7. - Everything aforesaid shows clearly that we are here opposite to an ancient(former) and famous Distrito Minero who today presents a potential of Resources(Resorts), with which it can qualify undoubtedly as of World Class.
Lookup phrases and idioms related to "CONCLUSIONES 1.- En este sector de estudio se han emplazado: un yacimiento que puede ser clasificado como del tipo PORFIDO DE COBRE-ORO (en la zona de la planicie de los Altos de Lipangue) y, además, un PORFIDO DE MOLIBDENO-COBRE en el área inmediatamente contigua ubicada al sur de la anterior. 2.- Los tipos de mineralización encontrados en total incluyen; pórfidos diseminados, stockwork, zonas de cizalle, brecha-pipe, mantos, skarn, fallas mineralizadas, vetas y lavaderos de oro. 3.- Los esfuerzos de exploración ya realizados, han cristalizado en la formación de sociedades legales mineras que poseen valiosos antecedentes de Recursos y Reservas. Algunas de estas Reservas ya han sido detalladamente tasadas y hoy se transan en las Bolsas de Metales de Estados Unidos (U.S.A.). 4.- El volumen de Recursos Minerales identificados a la fecha, alcanza ya a varies cientos de millones de toneladas, principalmente asignados a los pórfidos y skarn sumados en conjunto. 5.- La exploración estrategica y táctica actual de los dueños, apunta a seguir levantando reservas a partir de los Recursos Mineros ya identificados. 6.- Los métodos de exploración a utilizar para levantar Reservas contemplan: a.- Mapeo Geológico detallado b.- Métodos Geofísicos de exploración c.- Campañas de sondajes. 7.- Todo lo antedicho muestra claramente que estamos aquí frente a un antiguo y famoso Distrito Minero que hoy presenta un potencial de Recursos, con el que puede sin duda clasificarse como de Clase Mundial." in our phrasebook.
and
Bottom line :
Yes, I underlined the correction in the 2nd quote of my thread.
Did you really think it changed much of what I was emphasizing?
Invested in the Mountain
... and That's What Counts!
easy
JP - Who's Foolin' Who?
MDMN has nothing close to the legal definition of "reserves". To continue to throw that term around is misleading. If you speak to a mining expert at the SEC, they take the casual use of this term quite seriously.
"7.- Todo lo antedicho muestra claramente que estamos aquí frente a un antiguo y famoso Distrito Minero que hoy presenta un potencial de Recursos, con el que puede sin duda clasificarse como de Clase Mundial."
Beth, I'll just say Good Night!
Please spell this out for me.
In all seriousness, careful readers would do well to translate the original Clemente Sepulveda Perez report, which is in Spanish. You'll find the "summary" Easy presents is courtesy of rather wide and favorable editorial license. I promise you won't find bullet items #1-12 in the actual report. But everyone can do that DD on their own time!
Beth, "...square kilometers does the Atacama Desert encompass?"
The Atacama Desert covers an area of 181,300 square kilometers.
How Many Square Kilometers Included in Howe Report?
How many Square Kilometers are the ADL Claims now?
No, but I sure like Conclusion #7! lol
In all seriousness, careful readers would do well to translate the original Clemente Sepulveda Perez report, which is in Spanish. You'll find the "summary" Easy presents is courtesy of rather wide and favorable editorial license. I promise you won't find bullet items #1-12 in the actual report. But everyone can do that DD on their own time!
Ciao.
CONCLUSIONS
1. In this area of study have located: a deposit which can be classified as PORPHYRY copper type (in the area of the plain of los Altos de Lipangue) and molybdenum-in addition, a PORPHYRY of copper in the immediately adjacent area located to the South of the former.
2. The types of mineralization found in total include; porphyry disseminated, stockwork areas of cizalle, brecha-pipe, cloaks, skarn, mineralized faults, veins and gold mines.
3. The exploration efforts already made, have crystallized into the formation of legal mining companies which possess valuable history of resources and reserves. Some of these reservations have already been carefully assessed and are now traded in the United States metals bags (U.S.A.).
4. The volume of mineral resources identified to date, already varies reaches hundreds of millions of tons, mainly assigned to the porphyry and skarn added together.
5. Exploring strategic and current tactics of the owners, aims to follow up reservations from the mining resources already identified.
6. The exploration methods used to raise reserves include:
a detailed geological mapping
b geophysical exploration methods
c drilling campaigns.
7. All the foregoing clearly shows that we are here facing a famous old district miner who today presents a potential resource, which can be certainly classified as world class.
CONCLUSIONS
1. - In this study sector they have been located: a deposit that can be classified as of the PORPHYRY type DE COPPER - GOLD (in the area of the plain of the High places of Lipangue) and, also, a PORPHYRY ONE OF MOLYBDENUM - COPPER in the immediately contiguous area located to the south of the previous one.
2. - The types of mineralization found in whole include; porphyry spread, stockwork, areas of cizalle, breach(gash)-pipe, cloaks, skarn, you fail mineralizadas, veto and golden laundry rooms.
3. - The already realized exploration efforts, have crystallized in the formation of mining legal societies who possess valuable precedents of Resources(Resorts) and Reservations(Reserves). Some of these Reservations(Reserves) have been already appraised in detail and today they are traded in the metal Stock Exchanges of the United States (U.S.A).
4. - The volume of Mineral resources identified to the date, it already reaches to varies hundreds of million tons, principally assigned to the porphyry ones and skarn added as a whole.
5. - The strategic exploration and current tactics of the proprietors, point to keep on raising reservations(reserves) from the already identified Mining Resources(Resorts).
6. - The methods of exploration to be used to raise Reservations(Reserves) meditate:
a. - Detailed Mapeo Geológico
b. - Geophysical exploration Methods
c. - Polls(Soundings) Campaigns.
7. - Everything aforesaid shows clearly that we are here opposite to an ancient(former) and famous Distrito Minero who today presents a potential of Resources(Resorts), with which it can qualify undoubtedly as of World Class.
Lookup phrases and idioms related to "CONCLUSIONES 1.- En este sector de estudio se han emplazado: un yacimiento que puede ser clasificado como del tipo PORFIDO DE COBRE-ORO (en la zona de la planicie de los Altos de Lipangue) y, además, un PORFIDO DE MOLIBDENO-COBRE en el área inmediatamente contigua ubicada al sur de la anterior. 2.- Los tipos de mineralización encontrados en total incluyen; pórfidos diseminados, stockwork, zonas de cizalle, brecha-pipe, mantos, skarn, fallas mineralizadas, vetas y lavaderos de oro. 3.- Los esfuerzos de exploración ya realizados, han cristalizado en la formación de sociedades legales mineras que poseen valiosos antecedentes de Recursos y Reservas. Algunas de estas Reservas ya han sido detalladamente tasadas y hoy se transan en las Bolsas de Metales de Estados Unidos (U.S.A.). 4.- El volumen de Recursos Minerales identificados a la fecha, alcanza ya a varies cientos de millones de toneladas, principalmente asignados a los pórfidos y skarn sumados en conjunto. 5.- La exploración estrategica y táctica actual de los dueños, apunta a seguir levantando reservas a partir de los Recursos Mineros ya identificados. 6.- Los métodos de exploración a utilizar para levantar Reservas contemplan: a.- Mapeo Geológico detallado b.- Métodos Geofísicos de exploración c.- Campañas de sondajes. 7.- Todo lo antedicho muestra claramente que estamos aquí frente a un antiguo y famoso Distrito Minero que hoy presenta un potencial de Recursos, con el que puede sin duda clasificarse como de Clase Mundial." in our phrasebook.
How Many Square Kilometers Included in Howe Report?
How many Square Kilometers are the ADL Claims now?
Do the Math:
January 2008 - Satellite Imagery Report by Clemente Sepulveda Perez
SATELLITE IMAGERY REPORT OF CLEMENTE SEPULVEDA PEREZ (“REMOTE SENSOR ANALYST”) TRANSLATED FROM SPANISH
(Note that this report is truly a “Summary” report compiled after an exhaustive review of all of the information gathered to date which was then overlain with recent satellite imagery reports that successfully coalesced all of the prior information into the model utilized by nearly all of the major mining suitors involved in negotiations i.e. that of the existence of two “Classic Sillitoe type” porphyry systems. Sr. Sepulveda Perez was retained by 2 of the top 5 major mining firms in the world to perform this research and file this summary report.)
1. At the plateau at Lipangue, Medinah Minerals and Cerro Dorado have a mineral complex containing gold, copper, silver and molybdenum. Lead and zinc in lesser amounts was found out near the periphery of the deposit.
2. The mineral deposit underlies both the Lipangue plateau and its outskirts.
3. There are “at least” 2 porphyry bodies there. One is a low sulphide copper-gold type of porphyry and the other is a copper-moly type of porphyry.
4. The copper-moly porphyry was responsible for most of the mineralization in the “Lipangue Mining District”. (Note that a study of 55 porphyry deposits by Mutschler, Ludington and Bookstrom reveals that the average “Copper-gold” porphyry has approximately 300 million tonnes (metric or long tons) of economic mineralization while the average “Copper-moly” porphyry “weighs in” at approximately 500 million tonnes of economic mineralization or “ore”.)
5. The area in question is about 140 square kilometers.
6. The volume of mineralization between the surface level of the plateau and the 1,500 meter depth level below the plateau alone contains “Hundreds of millions of tons of resources
7. Mineral containing bodies include: Porphyries, stockworks, breccia pipes, mantos (Layered replacement deposits), Manto type skarns, fault zones (Shear zones) and mineralized veins.
8. Added to this are gold-bearing “Placer” deposits located on top of the plateau and peripheral to the porphyries (In the mountain’s watershed area both current and historical (Paleochannels)).
9. Over 30 years of recent exploration many roads have been built and access has been improved. Thousands of meters of tunnels and trenches have been completed and sampled. This included petrographic analysis of drill cores (Thin rock sections studies under a microscope.)
10. The petrographic analysis of 11/6/00 (Vancouver Petrographics) was very revealing in confirming the origin of the rocks (And the multi-phase nature of the mineralizing events).
11. There are high concentrations of gold, moly, copper and silver between the 60-meter and 120 meter level below the plateau (Which is at the 2,000 meter elevation above sea level). In general, the concentrations at or near surface average 5 to 20 times the concentrations of the valuable minerals at depth (perhaps from secondary enrichment blankets-“Supergene enrichment zones” which result from surface leaching of the metals which then trickle down through the strata to the areas of the water table where they precipitate out of solution).
12. The nature of the mineralization was poorly understood until recently when it was revealed that there were a series of intrusions involved over time (Petrographic analysis).
37. HIS CONCLUSIONS: 2 PORPHYRIES ARE PRESENT AND A VARIETY OF MINERALIZATION TYPES WERE IDENTIFIED. AT LEAST “HUNDREDS OF MILLIONS OF TONS OF RESOURCES” ARE PRESENT IN THE UPPER PARTS OF THE PORPHYRIES AND SKARNS. HE SUGGESTS GEOLOGICAL MAPPING, GEOPHYSICAL STUDIES AND DRILLING. HE CITES THAT THIS IS WITHOUT A DOUBT A “WORLD CLASS” DEPOSIT.
Thanks JP, I'll Take That as a Compliment!
CMIIW
Just keeping to the facts:
http://www.medinah-minerals.com/pdf/geologic_june19.pdf
Invested in the Mountain
... and That's What Counts
easy
so ... "Why didn't they?"
At the time of the Howe report which you reference:
The Lipangue Property consists of a total of 5 claims (3 mensuras and 2 manifestacions) covering 1,363 hectares. The Dos Marias property consists of one "mensura" (mining claim), which covers a total of roughly 130 hectares.
The recently expanded contiguous properties cover an area of approximately 15,000 gross hectares.
SHAREHOLDER UPDATE - Thanks for Posting HR!
Beyond all the nefarious fear mongering conjectures, I think the explanations are really simplified into two major points. No more forward carrying interest notes in the way of one-sided loans to JJ for accountants to explain. Simply stated, it satisfies reporting requirements of publicly traded companies as it cleans up any grey areas of one public (MDMN NA) and one private company (MDMN Chile) trying to explain who paid what and when. Simplifies all the financials to one company reporting under:
Alternative Reporting Standard: When SEC registration is not required, companies must generally still make information publicly available pursuant to Federal securities laws, including Rule 10b-5 under the Exchange Act and pursuant Rule 144(c)(2) under the Securities Act. OTC Markets Group offers the Alternative Reporting Standard for companies who choose to make material information publicly available to investors
Beth, Really? "The first thesis was interesting."
Of course it was ... It Was from Berkley! lol
... and then you go on to say:
"For instance, one can not take any study sponsored by The Heritage Foundation (your third link) as being anything other than script supporting their political manifesto." lol
The chairman of the U.S. Securities and Exchange Commission, Christopher Cox, has said that business practice audits required by the Sarbanes-Oxley Act are too costly and represent the "one notable exception" to the positive impact of the law.
Companies' bills for first-year compliance were especially high because of start-up costs and excessive efforts by the firms and their outside accountants, Cox told a hearing of the House Financial Services Committee…
Cox said Congress might have erred in subjecting companies to "the magnitude of the regulation that came all at once." …
Small companies have complained that the cost of complying with the law stifles growth by forcing them to spend their limited funds on audits rather than on research and development….
Beth, NOT JUST ONE MAN's OPINION
The SBA may have had good intentions, but it was an unmitigated disaster and death knell for many smaller companies.
While it seems as though Sarbanes-Oxley has improved the quality and processes of corporate management, financial statements, and auditor independence, these benefits have come at harsh costs to companies. Furthermore, these costs have inadvertently impacted smaller companies more severely than larger companies.
Taken together, these results are consistent with the view that, on net, SOX Section 404 proved to be too costly for small firms.
Sarbanes-Oxley Section 404 Places Disproportionate Burden on?Smaller Public Companies
While the SEC initially estimated the cost of complying with Section 404 to be $1.24 billion in the aggregate, multiple studies have projected the actual cost to be $35 billion, almost 30 times that of the original estimate.5 CRA International’s survey data indicates
5Hearings, The Sarbanes-Oxley Act 4 Years Later: What Have We Learnt? Subcommittee on Regulatory 5
that total year-one Section 404 implementation cost per company with market capitalization between $75 million and $700 million, known as a small accelerated filer, is $1.5 million, or 0.46 percent of its revenue; and that per company with market capitalization above $700 million, known as a large accelerated filer, is $7.3 million, or 0.09 percent of its revenue.6 A more recent estimate pegged the average cost of direct compliance costs and outside audit fees in 2006 at 2.5 percent of a company’s revenue.7
*********************
Conclusion
Our analysis of Sarbanes-Oxley Section 404’s impact on public companies, especially smaller 404 filers, suggests that:
?Section 404 has imposed a heavy compliance burden for all 404 filers: 404 filers experienced a median increase of 66 percent in audit fee as a percentage of revenue from base year to the second compliance year, while non-404 filers only experienced a median increase of 9 percent during that period.
?Smaller public companies have inherent disadvantages in internal control over financial reporting, and 404 filers with ineffective internal controls were significantly smaller than those with effective internal controls in terms of market cap, assets, and revenue.
?Section 404 has placed disproportionately heavier burden on smaller public companies: 404 filers in lower market capitalization categories have undergone substantially larger audit fee increase. ?Specifically, our regression analysis demonstrates that:
?Company size measured by revenue or assets is negatively associated with percentage increase of audit fees from base year to the first compliance year.
?Being an S&P 500 company is negatively associated with percentage increase of audit fees from base year to the first compliance year, while that is the opposite for S&P 600 small-cap companies.
?Each additional material weakness in a company’s internal control structure is associated with a roughly 10 percent increase in the percentage increase of audit fees from base year to the first compliance year. ?Based on our statistical findings, we conclude that:
?Small and large public companies operate in different manners, thus the kind of internal control structure Section 404 requires to assess is not as necessary for smaller companies as for their larger counterparts.
?Section 404 has imposed disproportionate cost burdens on smaller public companies that exceed the benefits they could derive. ?We thus recommend that:?PCAOB should give a clear definition of “smaller public companies” that Auditing
37
Standard No. 5 has referred to for scaled audits on internal controls, using revenue as
a complementary indicator for company size and complexity.?Congress should further consider amending Sarbanes-Oxley Section 404 so as to
allow smaller public companies to opt in and opt out of the requirements of Section 404. For those companies that choose to voluntarily comply with Section 404, they should be able to obtain scaled internal control audits that are proportionate to their size and complexity.
The Sarbanes-Oxley Section 404 is a regulatory failure in that Congress overreacted to the political pressure following the Enron scandal without adequately understanding the origin of the problem. It has generated tremendous unintended consequences that could possibly outweigh the initial problem it tried to correct. Congress, the SEC, and the PCAOB should take serious actions to alleviate Section 404’s side effect on smaller public companies’ competitiveness.
Audited Financials for all “Penny” Stocks…Really?
I see keep seeing a repeated “mantra” for all stocks under 5 dollars, including “cent” stocks to have audit financials. Facts, not fiction or wishful opinions, say this is sheer nonsense for small companies. How about some reality here?
It’s true that, as Motley Fool columnist John Reeves puts it, “for every superstar stock out there, there are dozens of clunkers.”2 Careful investors are aware of the risks, and still want to take the chance.
But now, a law is robbing investors of their rights to place their money in stocks that carry risk but also have potential for great returns. This law’s prescriptive mandates are making it more difficult for companies of the size that Home Depot, or even Wal-Mart, were in 1982 to raise money in America’s public capital markets. Even if someone were to come back from the future to 2007 with stock market data through 2032, he just might come up empty-handed if looking for growth companies with the successful returns for investors of Wal-Mart and Home Depot.
Why? Because of the Sarbanes-Oxley Act of 2002. Substantial evidence shows that the law, which was intended to protect investors from corporate abuses, is hindering honest firms’ ability to raise capital and the average investor’s capacity to grow wealth. Enacted after major corporate scandals, the law increases penalties for fraud, but it also contains many mandates that unduly restrict legitimate entrepreneurs.
Section 404 forces auditors and executives to sign off not only on the accuracy of a company’s financial statements, but also on its “internal controls,” a vague term which the law does not define. 404 has turned out to be the law’s most costly provision, but contrary to some accounts, is far from the law’s only problem. In Section 301, Sarbox also mandates the one-size-fits-all requirements that only “independent” directors sit on companies’ audit committees, intruding on the cohesiveness and efficiency of different types of boards. And Section 201 prohibits a company’s auditor from performing any other services for the firm, which has caused costly duplication of many accounting tasks.3
As a result of these costly rules, it is highly unlikely that today a retailer in Home Depot’s position in 1982 would be able to afford the cost of going public. As Home Depot co- founder Bernie Marcus told Investor’s Business Daily last year: “I honestly don’t believe we could...start the Home Depot in today’s legal and regulatory climate.” He worries that today’s public companies “can’t make a decision without a lawyer on one side of you and an accountant on the other side.”4
Dear Medinah Shareholders:
Medinah Minerals, Inc.
Shareholder Update
Chile Business Trip
May 28, 2013
Dear Medinah Shareholders:
Upon the termination of the Amarant Mining/Johan Ulander Purchase Agreement, real alternatives for meeting with potential partners and development of new monetization options for the Altos de Lipangue mining claims needed to be expedited.
Legally bound by the very restrictive July 10, 2012 contract the Medinah Mining Chile company could not contact, inform, engage, or feature in any business representation/negotiation with a potential/interested party until the date of May 11, 2013.
Medinah Minerals, Inc. Trustee and Board Director then travelled to Chile over a 10-day period between May 13-23, 2013.
Prior to the above-referenced Agreement, several notable mining concerns had visited and displayed serious interest in the Lipangue properties. Each of the parties were re-contacted, meetings were set and discussions reopened. Medinah Mining Chile’s intention(s), with Medinah Minerals, Inc.’s (MDMN) concurrence, is to negotiate a new definitive agreement involving an upfront monetary outlay requirement as well as fund a significant drilling and exploration program to more fully evaluate the ADL exploration/exploitation potential. During the trip, representatives of several regional and international firms, including their mining engineers and geologists, toured the Lipangue claims. The visiting company representatives and their mining colleagues also visited the Las dos Marias claims. This was important due to the fact that the Compañia Minera mining project had opened up several additional adits into the mountains interior. During this time sequence, government mining officials inspected Minera LDM's exploration/exploitation activities and required Minera LDM to add two vertical chimneys to surface for escape and ventilation, add more timbering of adits and other mining safety protocols. Minera LDM is now recognized as a fully compliant mining operation relative to Chilean Ministry of Mines safety and environmental standards. As of this writing, LDM has completed over a mile of tunneling through the additional adits following homogenous vein structures. The interested parties were able to view and evaluate the physical evidence of exposed manto-type mineralization associated with porphyry-skarn complexes and clear indications of numerous epithermal feeders of chalcopyrites, chalcocites, pyrites, and bornites. The visiting parties requested details of previous exploration results of the Altos de Lipangue properties, including the 28 diamond drill hole program conducted by Gordon House, P. Geo, all A.C.A. Howe International reports, geological mapping, IP surveys, petrographic analysis, geochemical surveys, sampling(s) as well as all Certificado of Analisis' from the present LDM mining operation. All requested documents were processed to the four different parties with the admonition to present offers as soon as possible.
It is the intention of Medinah Mining Chile, with full concurrence by Medinah Minerals, Inc., to not be burdened by obtrusive and restrictive Non-Disclosure Agreement (NDA) provisions as in previous contracts, so as to allow for more transparency regarding contract Terms and Conditions.
Medinah Mining Chile and Medinah Minerals, Inc. representatives also discussed the need to explore and capitalize on all avenues of potential cash flow options from the Altos de Lipangue claims. The parties visited the most accessible plant to the Altos de Lipangue claims and Las dos Marias mining operation. The name of this recently upgraded processing plant is the Minera San Pedro Limitada. This plant is a very modern plant operation located near the town of Til Til, approximately 15 kilometers north of Lampa, Chile (see pictures in photo gallery). Of note, Chilean President Sebastián Piñera, personally visited the San Pedro plant and proclaimed that their operation was a prime example of environmental ingenuity. The San Pedro plant is an Enami recognized technology and transferring facility for producers of copper metals. (See the attached YouTube presentation).
As Compañia Minera LDM has continued stockpiling various high and lower grades of copper and gold ore, they joined in the discussions at the San Pedro plant to possibly handle their shipments of copper ore, rather than the much longer distance to the Enami processing facility. By processing at the San Pedro plant, Minera LDM can insure the required high concentration of metals for sale to Enami via the San Pedro Limitada processing operation. Alternative plant owners were also contacted relative to the handling/processing of the high and lower grade arsenopyrite gold ore shipments. Processing contracts are presently being formulated with each of the parties.
The LDM operation is currently focused on two goals. The first being the exporting of the high grade copper component for the purpose of cash flow production. The second is the continued explore/exploit of the actual intended target of the high-grade gold enrichment zone encountered by DDH-002. It is anticipated that this target will prove to be a super-enriched zone of high-grade, gold-bearing ore. In published documents, DDH-002 drill results had encountered a 2 meter section of +7 grams/gold at 40 meters and the higher-grade section of +100 grams/gold over 5 meters starting at the 65-meter station. Winching to reach the DDH-002 target areas is in process and results will be reported. This targeted high-grade gold material, if consistent, will produce significant cash flow to fund operations, anticipated drilling, and to further define the exploitation goals of the LDM discovery.
Medinah Minerals, Inc. was awarded a 30% free carried interest, without participation costs, in all net production profits from the Compañia Minera LDM mining operation. As well, Medinah Mining Chile has a 20% interest in Compañia LDM which also adds to Medinah Minerals, Inc's, potential cash flow interest. Medinah Minerals Inc. will receive documented accounting of its cash flow percentage portion(s) on a Quarterly basis.
Further developments will be reported as they occur.
Gregory A. Chapin
Board Director
Medinah Minerals, Inc.
"Even a bankrupting of Medinah USA"
Who's this fear mongering ex-shareholder trying to scare here?
Surely not investors, who although frustrated at slow progress since the SHM, have seen steady progress with developments at LDM, and are hanging in largely due to multiple project advancements, and specific updates from Amarant:
http://www.amarantmining.com/1/post/2013/01/update-regarding-geological-work-in-altos-de-lipangue-chile1.html
Invested in the Mountain
... and I'll Take That To the Bank!
easy
$$$$
HR-I Should Have Added to My Last Post
I've been accumulating shares since Feb 2007, so I've seen more than my share of DIPS during the time I've been a accumulating shares in MDMN!
Invested in the Mountain
.... and I'll Take That to the Bank!!!
easy
$$$$
Neither a Flipper or Bagholder Here
Don't know why folks like to put labels on shareholders. Seems rather silly. The only reason to own a stock is to make money, and everyone has their specific style of realizing capital gains from investments. I don't have time to day trade, but I have invested in this company based on carefully researched DD, and the mineral wealth contained within the mountain. Over the years I have chosen to accumulate my position on a regular basis. I certainly haven't been a flipper, although if I were adept and had time for day trading, I would certainly have a much larger position. I certainly don't consider myself a bag holder either. Taking advantage to buy whenever the NUMEROUS DIPS have appeared has been a method that suits my chosen style of INVESTMENT. I appreciate the charts and DD that someshareholders have been kind enough to share with all over the years. We all have expectations of profit. It is the timelines and circumstances in life that differ.
Invested in the Mountain!
... and I'll Take That to the Bank!!!
easy
$$$$
Shareholder Update: As I was saying ...
Stay Tuned!
HR Thanks ... Commendable DD as usual! Your diligence these past few years is greatly appreciated, and much underrated by those who would choose to denigrate the company and management.
Investors should know there's been some great DD on this board over the years showing Medinah, and recently, Amarant are the real deal.
HR - Yes I'm Nitpicking!
... but indulge me.
It's my BD!
The correct term is pincer, as in the pincers of a lobster or other such crustacean. But, I get pincher, b/c it's the same movement your hands make to pinch. So much for my charting skills ..... and I couldn't be happier regardless of how it's spelled. lol
The charts you and ExB post are right on the mark.
Investors should know there's been some great DD on this board over the years showing Medinah, and recently, Amarant are the real deal.
Invested in the Mountain
... and You Can Take That To the Bank!
$$$$
easy
Reminds Me of a Post Quite Awhile Back!
I'll be laughing all the way to the bank for a very, very long time!
lol, lol, lol
Folks gotta love the slapstick put up day after day ....
Did someone say the Circus was coming to town?
[earlier quote in response to a poster]"As you have aptly pointed out, we are worlds apart on where we view this investment. I know where I'll be taking my view. I’ll just have to stay content with being invested in the mountain and taking it to the bank, even if it takes another 5 years. Where do you intend to take yours? lol
You did, however, fail to address the irrefutable fact below, or answer my question to you":
Quote:
“As you are aware, there is a very clear statement by the company that they are under an NDA. They have also clearly stated they have a signed JV. Time will tell. Will you be buying when the announcement comes?"[again – end my earlier quotes]
Will you be buying after the 1st, 2nd or 3rd announcements and PRs?
I am still quite content with my investment, and it is looking ever so more likely I won't have to wait 5 years! When you know what you own you won't be so quick to sell ...
Glad I didn't wait so long to buy, either! lol
Invested in the Mountain…
And that’s what counts!
EasyMillions
777 - Ditto That
I am a long, long time holder here...
A Gagged TA Doesn't Determine Success of Medinah
and has never been a central focus of shareholders, except in the minds of a very few. This should have been put to rest when you posted this, Karl:
Our policy is to forward inquiries regarding issued shares directly to the issuer itself. The contact information is available on their website: http://medinah-minerals.com/contact.html
As far as any accusations of a “gag order” it’s something that, in our experience, is said to try and elicit some sort of reaction out of us. American Registrar & Transfer Co. is an independent transfer of Medinah Minerals, Inc., which is often confused with an information agent. People often call or email us asking questions looking which are not required to respond to because we are not Medinah Minerals. That is generally the point where the accusation of a gag order comes into play, which we choose not to respond to.
At any rate, American Registrar & Transfer Co.’s policy with all 220 companies (for) which it is the transfer agent is to forward inquiries such as issued shares, number of shareholders, float, etc. directly to the issuer itself, unless we are specifically authorized and instructed by the issuer to provide the information.
Christopher M. Day, CEO
American Registrar & Transfer Co.
Innuendo Does Not Constitute DD.
The share structure is what the TA has certified, and what has been stated numerous times, not the conjecture of a few here that pull "facts" out of thin air and imagination. Amarant certainly has done enough DD on Medinah Minerals to know exactly what the share structure is. A $180 Million purchase agreement isn't put together with less knowledge than those posting anonymously on a blog site.
easy
Is There News Yet?
Where's the Promotion?
When there is news ... There will be news
... and it will be good!
... then there will be Promotion
... and lots of it!
Until then, ACCUMULATE!
Invested In the Mountain
... and That's What Counts!
easy
$$$$
Not me! My order for 50K@0.018 Didn't Execute!
Low ball bid for support, in case MM shenanigans.
Had the order in for over a week now with ATurd.
MMs just messin' with any chartists here.
I've seen it on other penny stocks just before news arrives.
Hang in there. Scott will come through, and this will reward shareholders handsomely. Patience pays off in the end, when you know what you own.
ENAMI-The Chilean National Mining Corporation-Stay Informed
ENAMI(“Empresa Nacional de Minería”) was founded on the 5th of April, 1960, inheriting a long tradition of small and medium size mining promotion that started in 1927 when the Mining Credit Fund (“Caja de Crédito Minero”) was created.
Mission
ENAMI´s mission is to promote small and medium size private sector mining in Chile, by providing incentives aimed at correcting market failures, and supplying technical, financial, metallurgical production and trading services they require in order to be competitive.
ENAMI´s incentives and services enable small and medium size mining firms to access international metal markets, and thus to benefit from the better position of ENAMI to attain competitive “economies of scale” and “economies of scope”.
A central principle of ENAMI´s management is to balance developing promotion activities with self-financing restrictions, since the Company should not be a net burden for the Central Government Budget. In fact, Government benefits from a special 40% tax, applied only to public sector companies’ gross income, and net profits withdrawals (100% dividend withdrawal) which, certainly, tend to more than balance annual Government Budget contributions to ENAMI´s expenditure on promotion activities.
In order to fulfill its mission, ENAMI’s assets include one smelter, five processing plants, purchasing agencies, and a network of technical support and technology transference facilities, focused on some 2.000 small size private sector producers of copper and precious metals.
ENAMI provides loans, especially to small size producers, allowing them to explore and identify new ore reserves, develop and enhance their mining facilities, buy equipment, and reach adequate levels of working capital.
Production, purchasing, treatment, technical and financial support operations of ENAMI spread along seven regions in Chile, covering a large area from the coast to the Andean mountains.
ENAMI purchases ores and concentrates from small and medium scale producers, process them in the concentrating and SX-EW plants, and the smelter, and exports the proceeds as mainly cathodes and refined copper to international markets. Besides, a wide range of fostering programs focused on small mining are aimed at increasing their business competitiveness and sustainability.
"And the Party is Just About to Get Started."
Got that right! Accumulating a sizable position for 5 years, now.
Smears aren't going to hold this company back.
Acquitted of all charges says it all. Jury saw a clear case of entrapment, and throwing the book at someone they sucked in to a scam sting operation.
Sure it cost shareholders and the company. Set the drilling program back quite a few years, but allowed JJ to grow the mining claims from only about 800 hectares to something more than 10,000 hectares.
But as current shareholders know ...
If You're In, You're In
Invested in the Mountain
... and That's What Counts!
easy
Much has yet to be revealed
despite the phenomenal DD done by investors. The iBox is a good start, but dig a little deeper and the upcoming ADL drill project will open a few eyes as to just what is in store for shareholders and company revenues. LDM can only add to shareholder value. Much of the risk has been removed because of the facts we do know. However, until all companies officially announce the deal, and the PR campaign is started, it is premature to comment on the success or failure of just one of the known partners involved in the funding deal. Shareholders are confident of what resources will be shown by additional drilling and core samples. Time will tell where the pps is headed. Over the last several years we have seen pps grow from 0.04 to 0.125-0.14, and that says everything is moving forward, albeit slowly. Those getting in at this early stage will be glad see their dimes turn into dollars, IMO.
Just saying'
Invested in the Mountain…
And that’s what counts!
Easy
$$$$
AU-These investments can turn dimes into dollars ...
Hey if the stock hits a $1 than I am an idiot and missed a big money maker.
So, when it comes to property, make sure that you are investing in companies that are chasing elephant- sized deposits... that don’t insult your intelligence by pretending that early sampling or gross value calculations represent anything other than wildly speculative assumptions... and for companies with significant drill results, whose geological theory makes sense.
In the final analysis — bet on the winners.
If you are seriously considering investing in natural resources, don’t put it off. The leverage on these investments can turn dimes into dollars...
Jetpilot - Great Little Article!
Thanks!!!
So, when it comes to property, make sure that you are investing in companies that are chasing elephant- sized deposits... that don’t insult your intelligence by pretending that early sampling or gross value calculations represent anything other than wildly speculative assumptions... and for companies with significant drill results, whose geological theory makes sense.
In the final analysis — bet on the winners.
If you are seriously considering investing in natural resources, don’t put it off. The leverage on these investments can turn dimes into dollars...
Save, Invest, Speculate, Trade, or Gamble?
OK, so Casey's article is now a little over a year old, and I posted it a year ago:
"But resource stocks impress me as a first-class speculative opportunity. A good speculation, you’ll recall, is one that offers – in your subjective opinion – not only a very high chance of success but a significant multiple on capital. Resource stocks, and the juniors in particular, definitely fit the bill." It's well worth looking up the article and reading it in it's entirety. He summarizes by saying, "Someday we will look back fondly on today’s period of relative calm as the “good old days,” at least compared to what’s coming. The time to get positioned is now, well ahead of the crowd."
“Is this a world class deposit, is it a company maker? This is based traditionally on the grade and tonnage, and other intangibles such as the location of the deposit,” stated Berry.
The location of the deposit is also an important factor in determining investment; more specifically, is the deposit in a mining and business friendly environment?
WOW!
Current . Previous . . Gain
$0.125 . . $0.054 . . 76.06%
The Rocks are starting to Rock!!!
easy
Lovin' That 10% Divy!
Be Lovin' it even more come October!
easy
$$$$
Well, I Admit I Was Wrong
when I said:
Very few need to post and cheerlead for those who refuse to DD the progress and value added to the size of the mineral claims. Copper, Moly, Gold and Silver will tell the story when all is said and done. Paydirt will equal PAYDAY!
Money - I agree
"It is in process and time will tell what that little piece of the mountain is worth."
The more Longs have done DD on the mineral wealth of the ADL and LDM claims, the more we Longs have accumulated over the years. Very few need to post and cheerlead for those who refuse to DD the progress and value added to the size of the mineral claims. Copper, Moly, Gold and Silver will tell the story when all is said and done. Paydirt will equal PAYDAY!
I'm extremely comfortable with my position, and don't need to check here daily to see what the latest news is. There are very few longs that need a daily progress report from iHuber's ... we've seen the value, PPS, and long term accumulation increase the past 3 years. As you said,
If You're In, Your In
That about says it all for this Long!
It's okay with me if some want to watch every movement and trade.
Everyone has their own style of what they're comfortable with.
Me?
INVESTED in the Mountain...
and That's What Counts!
easy
$$$$
Longs Know What They Own!
Longs have invested and accumulated for years, all the while having performed the necessary DD showing the mineral wealth of the ADL and LDM. May have been a long, frustrating time coming, but DD does PAY off HANDSOMELY when ALL IS SAID AND DONE. This DEAL is rapidly coming to FRUITION, and longs can COUNT on taking THAT to the BANK!
If You're In, You're IN
Invested In the Mountain ...
and That's What Counts !
$$$$
easy
An-FTD-By Any Other Name Is Still An FTD
Technically, you may be correct - the RegSho site lists daily short sales.
Consider however:
Threshold securities only include issuers registered or required to file reports with the Commission ("reporting companies"). Therefore, securities of issuers that are not registered or required to file reports with the Commission, which includes the majority of issuers on the Pink Sheets, cannot be threshold securities. This is because the SROs need to look to the total outstanding shares of the issuer in order to calculate whether or not the securities meet the definition of a "threshold security." For non-reporting companies, reliable information on total outstanding shares is difficult to determine.
Mandatory Close-Outs of Threshold Securities.
Regulation SHO requires broker-dealers to close-out all failures to deliver that exist in threshold securities for thirteen consecutive settlement days by purchasing securities of like kind and quantity ("close-out").