Medinah Minerals (MDMN)

[Money_For_Nothing]

Have you ever been involved in any deal, your statement suggest otherwise.

"Your reference to due diligence suggests MDMN must NOT know "what it owns"

Due diligence is not an expedition to find something that might or might not exist, it is a process the parties to an agreement go through to disclose information regarding the contemplated trasaction related to ownership and title to property, legal issues and known liabilites, rights and obligations to third parties, contracts, structure of agreements and current and future consideration, and an endless list of other items that allows the parties to fully understand the risks and rights surrounding teh transaction.

Both parties have certain due diligence that is required before signing any agreement. MDMN is not going to enter into a transaction without fully understanding the other parties ability to deliver on their responcibilities under the agreement.

Additional due diligence related to regulatory issues post JV will also be addressed as part of this process. If you go back and look at previous posts regarding chilean JV you will find we are still within the expected timeframe for completion of the agreement from beginning of negotiations to signing of the JV.

Here is a reference:

FOX BUSINESS - On August 24th, 2010 Codelco (Chile Ntl Copper/mining)entered into a JV with Antofagasta Plc (Eng Mining Co) under a 4 year agreement, Antofagast will invest $2.5 million US in drillng program covering 1,900 hecters, at the end of 4 year program, Antofagasta will then carry out feasibility study. Should properties go into production Codelco retains 40% Antofagasta 60%. In 2008 Codelco signed similar exploration agreemnt with Rio Tinto.

This agreement took over twelve months from beginning to end to complete. During that process both parties expended considerable time and money on the due diligence related to the project.

Finally, MDMN's legal counsel is not driving the boat in this process, as the web site has stated on many occasions, the JV agreement will be completed upon the deposit of the first tranche and not before. That means the investor decides when his due diligence is complete and when the deal is complete.

Like it or not, the Company is not is control of the process. JJ's skills as an CEO or his ability to communicate to the shareholders of MDMN will not change the pace or execution of the agreement. The mountain itself has more to do with this than anything JJ does or says.

Understand the process and understand the investment and you will understand that accusations related to the timing and closing have no informed basis.

If you're In, You're In