Medinah Minerals (MDMN)

[Hurricane_Rick]

You did defend this stock at all times (besides this very last time) even when there was so many red flags.

Not so fast. As an active investor in this stock, obviously I've held a bullish lean on the long term outlook and my opinions historically reflected that. No argument there. However, go back and read my posts before you wrongly say "you did defend this stock at all times". I didn't shy away from criticizing the company when it was warranted (more so in the other forum than here). I try to approach my investments in a balanced fashion because if I ever felt as negative as some shareholders here, I would've liquidated my position a long time ago.

Some of my criticisms off the top of my head:

1) Shareholders giving more credence to Les Price's back-channel rumor-mongering when they contradicted known facts or his previous commentary.
2) The failed deal with Volcan that eventually morphed into Auryn and Medinah trying to cover up the failure in their PRs.
3) The illegal claims grab of CDCH properties by JJ and Claro, and Les lying to shareholders and Bill Hoffmann about the reasons behind it.
4) The unreliability and lack of geological protocol of the geological reports at LDM.
5) The lack of communication by the company to its shareholders. And more specifically, the lack of professionalism/accuracy in their PRs and the historical inconsistencies.
6) Their improper references of NI 43-101 in their PRs and marketing materials.
7) The exorbitant share issuances to Greg Chapin's son for serving as the company's agent.
...and so forth.

What I believe you are misconstruing though is that in this forum in particular, the opinions often go to extremes. When I read an opinion that was exaggerated or ignored the facts at hand, I would often counter it, particularly when I had the facts to support it. I'm not going to go back and link to examples, but everyone I've debated in these forums, whether they agreed with my opinions or not, knows this has been my m.o. as a shareholder and an active participant in this forum.

I've said this many times before, but the only time I met Les Price was at the 2012 AGM. After I introduced myself, he said "Oh yeah, you're the guy who runs 'hot and cold' on the company". I took that as a compliment.

That is exactly why you are still around trying to make sense of this investment( you are probably swimming in worthless shares like many of us).
You also did some timid criticism to the stock but up until the shares issuance fiasco you admitted buying the stock in the mid .01`s, like you were outsmarting everybody else.

I did buy shares as recent as only a couple weeks before the revelation that Les Price had been illegally issuing shares. Unfortunate timing on my part. But at the time, the risk/reward profile for the stock was probably at the best since I've been an investor and I wasn't going to let it pass without putting some more skin in the game.

The reasons for my buying were as follows:

1) The Chilean spring (drill season) was coming up in a month and Auryn had stated their intentions

2) Auryn announced that they would be presenting both at the Chile Explore conference and the shareholder presentation on Oct.

3) Auryn announced their production goals for 2016 and 2017.

4) Auryn was beginning to refurbish the Caren mine.

5) The stock price was at an opportune level to average down.

6) Gold prices were at/near 52-week highs.

7) The old BOD had stepped down, JJ was out of the picture and Auryn owned ADL. MDMN had minimal expenses going forward as just a shareholder in Auryn.

With the agreement by Medinah with Auryn to cap the share issuances at 1.5 billion, and with the quarterly reports being filed showing the share counts, there is no way any reasonable person being could know that Les was siphoning shares away on the side, and at the level he was doing so. A dutiful BOD member should've known this or had checks and balances in place to prevent this from happening. But by all counts thus far they were blindsided as well.

Obviously if I or anyone knew or even thought that Les had the capability and sociopathy to fleece the company to the tune of 1.6 billion shares, then it would be a different story.

And let me make this clear - my confidence in the potential that ADL remains. From a geological standpoint I'm as excited as ever and those points stated above are not affected by recent events. However, the endgame has been cut in half due to the unexpected dilution. And there is obviously much more risk involved in owning MDMN shares due to the uncertainty of how Auryn will handle recouping their losses and how that will affect MDMN.

Too bad Les was outsmarting you and a lot more shareholders.

I don't consider someone falsifying signatures on documents, lying to shareholders and the BOD, illegally dumping shares, and so forth as "outsmarting" anyone. Perhaps if I were of the criminal mindset, then I would agree to that assessment. Les did not outsmart the couple he fleeced in the CUMO stock fraud case. Perhaps Les outsmarted the FBI by not getting pinched in the Bermuda Shorts Sting operation. But Les didn't outsmart me or any other MDMN shareholder. He robbed us.