Medinah Minerals (MDMN)

[Medinaminer]

It's a pump and dump, pure and simple.

Frankly, when I first came upon this stock, just based on the verbiage of their announcements, and with no fundamentals to back up much, I came to the same conclusion.

Fast forward, a friend had gotten involved, and upon representations of certain "known" facts by my friend, and having known my friend for a while, I believed the junk that was fed through my friend to me.

So when the sp was spiking due to the announcements of JV's, partners, etc. I was encouraged to take a position. I did and in turn got others involved.

I believe this scenario is quite the norm here, where people in our spheres of influence got us in and we did so blindly based on those relationships.

I also felt as though these men of the BOD would not be so callused and brazen in their efforts to mislead or otherwise defraud. Except for Les, the others had a respectable background. No public history of any ill repute to point to. So, it looked better as time progressed, until we came to the Ulander fiasco.

Well, no need to repeat. We all know how that ended.

So now you think this group put together by friends and members of the Letts family would be a party to a pump and dump? I find that difficult to believe.

I don't believe they are willing accomplices in this game of pump and dump. I think they are there to discover the value of this property. They are of enough means not to need this shell game and risk their reputation and sour their name?

Only time will give us the real picture. I am obviously incredulous at the manner in which the BOD continues on. And you rightly point out, there is not much we can do. Our options are to sell and get out, or win or lose, just wait it out.

I do believe trading this stock was the way to go. It gave many opps to get in and out. However, if come January and the offer for LDM is another fluff offer with no details and the typical crappy announcements, then you can kiss this story good bye for a long while.