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What is your reason for selling?
Do you expect to do worse than under present management?
Is that PR dated 04/18/19 or is it an old reposted one?
If it's current, perhaps the stock will take off on Monday.
Uh, he's not the CEO nor employed by Medinah yet.
I've been told that I shouldn't have posted that.
Thirteen years ago the precusor to NPER had a lot of "projects".
What happened?
To: EtTuBrute who wrote (10037) 1/2/1998 10:34:00 PM
From: EtTuBrute Read Replies (3) of 22810
Summary info from NPEC unofficial website:
NP ENERGY CORPORATE HOLDINGS/PROJECT STATUS:
Total Shares Outstanding: Estimate at 70 Million
Total Shares In Float: Estimate 30 Million.
Latest Earnings: 3 cents/share last 6 months.
POCONE PROJECT, MATO GROSSO, BRAZIL
October 10, 1997, NPEC announced its acquisition of a 51
percent interest in a processing mill along with 2,000,000
tons of stockpiled gold ore in Mato Grosso's Pocone field.
The original tonnage had been recalculated to 2.5 million
tons of ore and we acquired an additional 600,000 tons of
stockpiled ore, bringing the gold ore reserves to 3.1
million tons at present.
October 20, 1997, Paul Baker, NPEC geologist and project
manager, announced the commencement of hydrostatic tests on
the 1000 ton a day flotation plant. ''We have completed
three days of flotation test and the system has functioned
perfectly, achieving a very stable flow of 'head foam'; gold
platelets could be seen in concentrate. We plan to make only
a few changes to the system before production.''
Installation of a 125,000 liter tank leach system is in
progress and completion is expected by the last week in
October. The leach system is capable of processing
concentrates from five flotation plants which will be
completed in the next three months.
Systems, running at full capacity by January 1998, are
projected to produce 62 ounces of gold per day with a net US
$132,000 per month to NPEC.
ANDACOLLO PROJECT, CHILE
Under term a of an agreement with Medinah Energy Inc.
(Medinah), NPEC retained a 20 percent working interest in
the Mina Claudia and Andacollo fields in Chile, as well as
an equity interest in Medinah of 14,000,000 shares.
Medinah has recently released information regarding the
Andacollo field through A.C.A. Howe Consulting International
(Howe), Medinah's consulting firm in Chile. Highlights of
the report includes a recommendation of additional property
development at a cost of US $1.35 million, including up to
24,000 feet of drilling. This work is now proceeding.
Medinah's basic thrust has been in the Andacollo field at
this time, while still doing exploratory work on Mina
Claudia.
METROPLUS
On May 20, 1996, NPEC acquired 100 percent of Metroplus
Communications Corporation by way of a shares exchange
agreement. Since its acquisition, Metroplus has expanded its
customer base and its service area to include the US
(service capability will be completed in November, 1997). In
addition, Metroplus has added a paging service (Canadian,
American and International). Financial reports to the third
quarter of 1997 show a net profit exceeding $100,000.
WASHINGTON STATE SILVER PROPERTIES
In a News Release on May 14, 1996, the Company announced
progress on a sampling program on the multi-vein system in
the old workings. Assays, ranging from 0.87 ounces Ag per
ton to 108.41 ounces Ag per ton, were realized in chip
samples. Further work has been undertaken and additional
ground has been staked with acquisition of two main groups.
Initial first assays in these areas as show significant gold
content with vein width. A winter program is now being
developed.
INDONESIA GOLD PROJECT
The Indonesian gold project of which NPEC was a 20 percent
participant was part of a consortium pledged to provide
exploration and development funds for the project. Lease and
mining rights have been maintained in good standing and a
joint venture partner is being sought to provide the
necessary capital to proceed.
CISCO DOME, UTAH
A dispute over contractual agreement as to the legal
operator on the field, plus cost overruns not concurred to
by NPEC has led to NPEC position of a settlement offer to
relinquish our portion of the field for an equity position
with the disputed entity, Pease Oil and Gas. Negotiations
are being handled by the law firm of Gerald Conder.
ECUADOR OIL FIELD
October 1996, NPEC entered into a joint venture agreement
with BPZ, entitling NPEC to 15 percent working interest with
an option to purchase an additional 15 percent interest if
available and cash flow participation from the field to
begin on July 1, 1996.
To August of 1996, NPEC had earned a carried interest of
$232,913 dollars, which was returned as working capital to
the field.
Frequent attempts to obtain additional cash flow and
production figures have been ignored by BPZ.
Under terms of the agreement, NPEC was to provide a cash
infusion to the joint venture in 1997. NPEC responded with a
ready, willing and able but was notified that their terms of
the agreement were to be modified whereby NPEC's equity was
to be reduced to 10 percent, our cash flow participation was
adjusted to commence in 1997 and the capital costs increased
by 50 percent.
NPEC demanded specific performance under the terms of the
agreement, but after intense negotiations no resolution was
resolved. Every attempt to settle the problem without
litigation was pursued by NPEC. An ultimatum to provide
specific performance under terms of the agreement was issued
by our Law Firm, Gerald Conder, on October 15. The demand
called for an immediate specific performance or we would
seek legal recourse.
Appears that the company has "the goods" after all.
Real properties and real deals. It's not a scam as some would imply Still time to get in on the ground (containing copper, moly, gold, silver) floor.
All this talk about tranche payments are a carryover from the previous proposals to the mining consortiums, is it not? If we retain the greater percentage of the property and are calling the exploration shots, why would a financing company agree to pay Medinah more if the drilling programs are successful? I can see them investing more monies to finance mine construction and, by doing so, they may or may not get a larger percentage of the pie.
But I think one payment directly to mdmn/cdch/juan is all we'll get and there will be no multiple tranche payments anymore.
Apparently Medinah/Cerro/Juan will be calling the shots and not the financing partner who will just be providing the investment funds and advising.
From the March 8, 2011 Q&A
A: Medinah Minerals Chile and Medinah Minerals, Inc. USA members have been working on numerous collateral matters in furtherance of the companies short and long term goals. These efforts, in concert with the ultimate goal of acquiring funds through the Joint Venture Agreement, are provided below:
1. Meeting and soliciting a highly professional international geological management firm to augment the direction of the Alto de Lipangue project. This to further provide additional 43-101 qualifying reports leading to further exploration and eventual full production of the claims. This firm is ready to assume immediate duties upon the receipt of payment(s).
2. Discussions with Chilean contractors, including geophysical surveyors, diamond drillers, geologists, and mining engineers. Accepting resumes of those deemed qualified to assume required duties upon Medinah Minerals Chile receiving anticipated funding.
Probably some government entity (probably the State of Florida) has frozen all the financing company's funds until they can prove they are running a solvent operation and won't need these investment funds to meet their current and future obligations. Who knows if or when these funds will become unfrozen. Maybe it's time to start negotiations again with the three finalist mining consoriums
1. The property is at an equivalent latitude as San Diego CA and has a temperate climate. Exploration can proceed the year around unless interrupted by a heavy winter snowfall on the mountain.
2. A successful drilling program using all available funds was accomplished in the early 2000s. Medinah had not "missed" drilling since then as no monies have been available.
3. JV negotiations have been underway for the past five years with different JV partners. Surface, trenching, and satellite exploration, done mostly by our potential partners, have continued over that period. Results were very favorable and are known by Medinah. This work continued up until a month ago when it was stopped awaiting clearance of the JV funds.
Do your "sources" say for what possible reason our financing partner would want to string out the deal? How could it possibly be advantageous to him to delay the joint venture? If he doesn't want the deal, all he has to do is walk away as there will be no JV unless the money is paid.
Because of the three hour time difference between the U.S. east and west coasts, it is almost pointless to constantly watch the boards for a JV announcement during market hours. When trading starts at 9:30, Les hasn't yet arrived at the office and would not have time to prepare the news release before the opening. Assuming that the release won't take place during trading hours so as to give everyone an even break, then one can safely await until the market closes to catch up on the Medinah boards while awaiting the news.
Of course I knew this, but, as of yet, have not been able to put this time saving tip into operation.
I believe that Mike Gold has stated on several occasions that Codelco, the national Chile mining company, owns some of the leases next to Lipanque.
i'm with you Geoly. The other board reads like a never-ending short squeeze symposium. Who needs it?
Interest post. Thanks. Can you let us in on how you made your conclusions? Was it because NITE moved away from the ASK in the afternoon?
Volume picked up at the end but it was all selling.
Better take a Tums.
I guess my problem is that we don't know for sure that the money is at or in the bank (our bank anyway). We have indications that it is there basis 4th hand knowledge, but no one has officially said that it is in there for the record. If I were Juan, I would have put out feelers to our former suitors a month ago when the money arrival deadline was extended. Juan is a cautious negotiator and I expect he did just that Hopefully we will never know as this week is THE week. I'm just saying that the game isn't over if this JV falls through and the next JV could quickly build on the learning curve.
Who's to say that Medinah/Cerro/Juan won't eventually tire of the JV partner failing to produce the money for whatever reason and restart negotiations with the three previous suitors? The basic agreement is already written. All we should have to do is to get one of them to agree to essentially the same terms. Shouldn't take more than a couple of months to get back to this same stage with a new partner. Once a bidding war starts, the price is never lowered.
The process could be done by publicizing the minimum terms required
and asking for bidders - that would give an immediate stock boost.
Expect a steady rise in price beginning Monday as people scurry to invest their money in Medinah and its sister company Cerro. This is their last chance to go all in at the low prices and achieve a 5-bagger (maybe more) fairly rapidly. And everyone knows it. It's going to be a fun week.
What you say is sooo discouraging. I am very discouraged that my shares have only increased from 2 cents a share to 13 cents instead of the probable one dollar a share they would be worth if those rumors had come true. But as you imply, there is always next week.
Don't forget there are 11 other breccia pipes, similar to the $2 billion Gordon pipe, which have been located but not yet drilled.
No need to be "sorry" as this is not a scam. The properties exist and, if there are minerals to be found, they will be. A scam company would either not control the leases or would be making false claims which the company is not doing.
No one has "lost" money in BVIG since no one has any shares. When the shares are distributed, which they will be, the cost basis will be zero so it will be impossible to lose money on BVIG.
The cdch/mdmn ratio got out of line so traders are switching out of Medinah into Cerro. That should end soon and Medinah start up again.
Could be new IHub money coming in from those that frequently post here but don't have any shares. It's not too late to get a piece of the pie.
The timing deadline rumors have generally been wrong. However, the details of the joint venture rumors have probably been very accurate. We just don't know the details yet because the company has been very tight-lipped so as not to violate bargaining and the secrecy agreement. This is going to be a tremendous enterprise for Medinah and those that invest in Medinah are going to be rich (and very soon).
We definitely learned from the news release that a signed joint venture contract to explore and develop Lipanque does exist. Prior to now this was only a rumor (which turned out to be a valid rumor).
On MP it was said the release will go out as a news wire and not a homepage update. This would get new investors' attention.
They are saying with the Canadian holidays on Monday and Tuesday that the earliest posting of the first news release would be on Wednesday. Otherwise the Canadians wouldn't be able to go all in when they hear the news so they would be disadvantaged. But I think it is just like every other time when news was promised. Juan is a champion procrastinator and cannot be pressured to write a paragraph or two in a timely fashion. He probably doesn't know or care about the situation in the Canadian markets. Looks like again WMO will have to take keyboard in hand to get a news release out before the end of January.
No use sweating the time when the update will emerge. They have never turned out an undate, PR, or Q&A the exact day the first time the leakers said they were going to. There were always many delays generally lasting a week or two. This doesn't seem to be an exception with Canadian market holidays on Monday and Tuesday. Why do they even bother saying an update will be issued "before the holidays (plural)" when obviously they meant "after the holidays"? If you can't get your act together on the little stuff .............
give us a URL please
you usually don't post such good news
Well that's what he wrote - "This person is clearly not qualified to be a ceo of a U.S. public company, primarily because he lacks the required knowledge of his responsibilities under U.S. securities laws." Who was better qualified in Medinah? I'm not saying that he got the job done in a timely fashion. I would have rather had a combination of Juan, Les and Greg doing the negotiation in Chile, but that's not the way it has played out.
Just because a CEO is not American doesn't mean that he is not qualified simply because he doesn't know the U.S. securities laws. Most CEOs don't know the laws in detail - that's what attorneys are for. In this particular situation, no one in Medinah is more qualified to complete a joint venture in Chile.
Predictions of what the press release will say would be more worthwhile to your many fans and we might make some money trading it.
Nice post and I agree with the partners not caring about our pink sheet company. But suppose it was important to JJ and he imposed the timing as one of his conditions? Then they might go along.
With Dr DeCosta advising Medinah, that date could easily be a factor for the signing time.
According to wmo and others on the Medinah threads, the JV involving Cerro Dorado will be signed Tuesday.
Exactly what is the holdup on the share distribution? Has the company made a status report lately? If their ducks are in a row, only then should they blame the regulatory authorities for the delay.
Nope. You're the one who is wrong. When BVIG received the Handcamp properties, KATX assests were diminished by loss of those particular gold properties. However a number of posters here failed to acknowledge that fact arguing that somehow Handcamp still had much value to KATX even if it was just in its ability to be a future source of funds for BVIG (probably also wrong). Since these people said that the value of KATX hadn't been impaired, the price of KATX didn't make a step drop but declined slowly as the realization gradually sunk in that Handcamp was gone. It is apparently still in the process of finding a base to spring up from when the drilling of Rusty Ridge commences.
The true value to KATX stockholders who are also in line to receive the BVIG shares lies in a formula of KATX plus one-fourth BVIG which apparently is now about 20 cents a share.. Unfortunately the company messed up so badly in not getting BVIG trading on the market that the market price of a new share of BVIG is really unknown. Management should get the BVIG shares issued at once so that normal trading can begin. If the securities authorities aren't going to approve this plan, then management must come up with an acceptable new plan.
Uh, what's to prevent the market makers just to continue shorting the stock? They are pocketing about $200,000 a day now with no apparent difficulty in keeping the share price low. What's to prevent them from shorting 10 times as much? I think the answer lies in a cash dividend to be declared by Medinah at the AGM. A shareholder survey of holdings has indicated that there are over one billion naked shorts outstanding. Each penny cash dividend would mean the market makers, or the hedge funds behind them, would have to distribute $10 million to the holders of those phony short shares. And if Medinah were to indicate that this was an ongoing quarterly dividend, now the MMers would seriously considering covering their shorts.