Medinah Minerals (MDMN)

[Zhenli]

Last release from Masglas/Auryn list quite an impressive group of members of the management team. Christian Hub will lead the geological team and David Brownrigg will lead the mining development team. Great! But when are they going to start managing. Maybe they haven’t even begun to carry out their designated responsibilities because there is no financial backing to pay them. Very impressive in a release, but so far, nothing from Masglas/Auryn/Maurizio as to their performance and efforts on the properties.
Tic toc, has Maurizio left Medinah shareholders at the altar?
One shareholder’s speculation is that Maurizio pulled the JV Option Agreement off the table because his financing fell through. Could be, but we can’t say because we don’t know their financial strength because a financial statement was never provided when the “sales contract” was announced.
This from one of the mining journals quoting Maurizio. “the company is aiming for significant production volumes, but with careful management of cost.
We want to develop the veins and generate the cash flow of a small scale mine, almost artisanal, but still significant.”
For what I know they are only permitted to produce on 5000 tons per month.
Will this be enough to generate a cash flow to pay for the management team, exploration cost and diamond drilling cost which is very expensive???
Tic, toc..we need to hear from you Maurizio!