the increase in the A/S was based upon the anticipated needs to close a deal with Chinalco, when there was talk about a 300 MM shares equity swap. That is reportedly not part of the latest negotiations with the South American group, and therefore, may not be needed at all.
In addition, absolutely no one that I am aware of, at least no reasonable person that I am aware of, actually believed that MDMN was going to issue ever single available share. It always seemed strange to me that everyone was going ballistic over the 1.5 billion A/S but never balanced those concerns with the fact that CDCH, did not make any significant changes in their A/S that I am aware of.
Now, I realize the CDCH is the illegitimate child in this disfunctional family, the baaaaad seed, but one would assume that what is going to affect MDMN would also have some affect upon CDCH since they are Co-conspirators in this JV scam.
And can someone please explain to me why the negative rumors of plans to max out the O/S are the only rumors that count? What makes that soooooo much more appealing than the rumors of a buyback, a creative dividend program, or a $25 MM investment by one of the partners at street values? WHY do we constantly have conversations about the NEGATIVES, instead of balancing them with ALL OF THE FACTS and RUMORS. That is a pathetic world view, IMHO
Okay Richard I will try to answer all of your questions and you aren't going to like the answers but what the hell.....
First the original equity swap you are talking about with the Chinese (Chinalco was a possiblility it could have been Minmetals or even someone else)was in fact a rumor although some would swear it was gospel because supposedly it came from Les Price. I remember personally having a long conversation with Kirk about this and it was supposed to be 400 millionshare equity swap at 20 cents per share followed by a market buy of 400 million shares with a subsequent request for certificates. which would have given the Chinese an 80% ownership of Medinah. The point is moot because nothing happened and nobody knows why. Some say the Chinese never showed up for the final signing. I wonder how the Chilean Government felt about that?
As for those going ballistic over the A/S, those were mainly individuals invested looking for a quick return on investment who had invested based on some good faith rumor givne to them by someone they knew and they probably should never have been nor should they now be invested in this stock. You really have to do your own work and DD and not just sit on the sideline doing rah rah work. There are several of those on MP and they like you only want to see one side of this discussion.
As for CDCH they are a completely different animal. If you don't believe that look at Juans' last update for them. He's paying all their bills and it's obvious at least to me that he's not happy about it. You and I have beat this horse dead....the folks at CDCH are fine men with good hearts, but they really haven't done anything they should hav done to protect their share holders as befits any BOD, penny stock or not. Particularly in light of all the information, true or not true, available.
One other thing everyone needs to think about, Juan isn't negotiating on behalf of CDCH. He's negotiating on behalf of Medinah. If the RUMOR about the $25 million coming into Medinah stock after the deal is closed is correct it will do little or nothing for Cerro and will greatly enhance the value of Medinah. I have been told but cannot verify that Juan is a large stock holder in Cerro. I have personally seen a large number of stock certificates from Medinah in Juans' name. Cerro will get a free ride because of their ownership and I think it will be a while after the Medinah run that Cerro gets a real move only because I think Cerro is not really ready for this. That is my OPINION.
And Cerro didn't make any changes to their A/S because again they really aren't part of the deal. They are not or have never been part of any equity deal.
I also missed the day when someone said only the negative RUMORS about the O/S counted....when did that happen. Again people who either aren't paying attention or who shouldn't be in this investment are taking things out of context and running with them. Some posters on this board are bashers that's obvious. Some just want answers, George is one of those and quite frankly George is perfectly within his rights to question, bitch, whine, moan and complain if that's what he wants to do. That coupled with the fact that George and Handshake are the only ones who have been correct so far. Their batting average is far superior to yours, mine, Mike Golds or Kirks. We have all been wrong. Are we all going to be right? God knows I hope so!!!!
As for facts I truly don't have any when it comes to this stock and that's the only fact I do know. I have the suppositions of some investors who claim Joe Schmuck said this or that. While we all want to believe that what we are being told is the truth or is a fact it is only supposition or rumor or hope. Only Juan knows the absolute truth of the matter. I do know that Juan is real. I think based on my meeting with the man that he is an honorable individual who wants a deal on his terms and when he gets that we will get rewarded for all the BS we have been thru these last many years depending on how long you've been here. But as I have said and I was told by another investor, Juans concerns are not mine and he quite frankly isn't concerned about mine. This will get finished when Juan wants it finished or the supposed JV partners decide to close it which ever comes first.
In short Richard I don't have the crystal ball that you or some of the others on MP have.....I only have the facts and the truth is that all those facts are pretty much just rumor. Either you believe or you don't....I do, but my patience is wearing thin and when it runs out it won't be pretty around the household anymore.
