Medinah Minerals (MDMN)

[Hurricane_Rick]

It will take a LOT of volume to punch through .19 as there are very large shareholders who have been holding for years that will want to lock in profits they've squandered the last 3 or 4 times MDMN has been in the teens. IMO, there needs to be significant news to bring in that kind of volume. I'm not sure the finalization of the ADL JV (as huge of news as it is) will be news enough to achieve this. It has been publicly known for several weeks and much of that expectation has probably been baked into the price already. I have no way of measuring how the market will receive this significant news - it has been a monkey on MDMN's back for years and many of the skeptics no doubt have remained on the sidelines until that long-waited and ever-elusive confirmation of an ADL JV has been completed.

I anticipate the whales will continue accumulating; however, based on their buying behavior over the last 5 months, at some point they will step off the gas and let the share price come to them rather than chasing it with the momo players.

Other follow-up events such as the commencement of drilling and exploration, news of ore shipments/revenues from LDM/NUOCO, the mining plans from LDM/NUOCO and so forth may push the stock higher and bring in new buying; however, I'm choosing to remain conservative in my short-term outlook for MDMN's share price. Of course I will gladly welcome being wrong!