Medinah Minerals (MDMN)

[Hurricane_Rick]

This run is different than any past runs by MDMN. This run is supported by large block bid support and strong, unrelenting volume pounding the ask, then backing off and absorbing any selling with large blocks. Sure there are little yahoo traders like me picking up 100K here or there and riding the wave, but this move has all the makings of professional investors (not necessarily institutional).

There were between 2 and 3 million on the bid most of the day (most of the week too). That's 200K-300K for the most part. As I posted earlier, there was a 6.4 million bid at .098 to protect and absorb any potential profit-taking and keep the price above .10. That's $640K. A $640K bid on a pink sheet company is not some whimsy or accident. This block, and many of the other whale-like blocks that have been bought over the past week comprising the large majority of the 100 million shares traded over the past 7 sessions, have all the makings of someone who knows something. The JV has not been accepted yet so I don't think it is anything related to the specific JV bid set to be accepted/rejected on June 9. However, it could be related to what has been discovered at ADL.

The company has publicly stated that they suspect the presence of two porphyries at LDM based on current exploration by NUOCO and hitting the glory hole at the LDM adit. They have begun shipping copper via NUOCO so I imagine some people know the grades, particularly those entities currently bidding on the ADL joint venture. CMLDM is probably close to shipping gold from LDM if not already. I'm guessing this buying has more to do with what's been found in the mountain whereby large investors have had the risk mitigated and have extreme confidence and deep enough pockets to place significant bets on this 17-year old pink sheet company, with its sordid history and all.