Medinah Minerals (MDMN)

[easymillion]

CS - Indeed It is Amusing
... that your posts while more than polite, cherry pick phrases, yet fail to capture the essence of what is being said. Do you truly not understand the difference between an FTD and a short position, or even an abusive naked short position? Not to be too critical, but your style looses the flow of comprehension when you debate every long shareholder posting on this board, line by line, IMO. If you were actually responding to what I have said, you might have noted the following information that is factually correct in my posts:

First, the OTC site is not the only site where information can be found. I thought the stats from June's FINRA site equally interesting as the OTC's reported monthly short position that is so frequently quoted here on iHub. Granted, FTDs are a little harder to decipher, FWIW.

With 'lil Sister, according to FINRA site, the total number of shares traded for month of June was 13,092,228. Daily FTDs for the month totaled 5,921,172, or 45.2% of all trades. Total shares turned over for the month represented 6.5% of the approximately 200MM (I'll stand corrected and use MM here) shares authorized/outstanding. Not much liquidity, IMO, as many have pointed out (do a daily turnover of all shares and you get an average 0.3% daily turnover rate.) Despite appearances, I believe the stock is tightly held, and too low a liquidity to lend itself to flipping, although quite a few bailed on the recent news.

With MDMN on the FINRA site there were a total of 74,641,367 shares traded in June, which represents 10.5% of the approximately 710MM (again corrected) shares issued, or about 0.5% daily turnover. Liquidity better than with CDCH, not just as percentage, but also sheer volume. Surprisingly, the daily FTDs averaged about the same percentage for both. MDMN averaged 47.9% with a total of 35,763,968 FTDs for the month.

Don't know exactly what that means, but it seems like there was little effort to locate or secure shares to enact daily trades by MMs ... more than simple "making a market" by MMs, IMO. I could be wrong, but there are not a lot of companies with that high a percentage of FTDs over an extended period of time, as far as I know. Previous months showed similar high percentages of daily FTDs. These all seem to melt away in monthly OTC short reports, which is why I suspect wash trades may be in use for sleight of hand manipulation to cover short positions amongst MMs. Just a theory, no way to prove it until after value of a deal is shown, and maybe not even then. Perhaps we will see a change in the daily FTD pattern after JV announcement and LOI gets signed and released.

As for your contentious statement that I am "casually throwing out terms like "proves up vast resources" when you have absolutely NOTHING backing you up (other than optimistic extrapolation of Les-speak hearsay", you might want to check your facts 1st.
Here are some resources that should more directly help your fact checking:

Gordon Breccia drill holes mapping (50 meter spacing)
http://www.medinah-minerals.com/reports/Howe/gifs/01fig4-1.gif

ACA Howe's report after the first 7 holes were drilled in 1999.
http://www.medinah-minerals.com/reports/Howe/HoweMariasLipangueReport.html

ACA Howe's report after holes 8 - 12 were drilled in late 1999 and early 2000.
http://www.medinah-minerals.com/reports/Howe/howeJune19,2000report.html

ACA Howe's Report after holes 13 - 18 were drilled in late 2000.
http://www.medinah-minerals.com/reports/Howe/howeFeb12,2001report.html

Gordon House's P.Geo resource estimates (see page 38 Table A):
http://www.medinah-minerals.com/reports/docs/decosta%20-%20valuation%20of%20mdmn%2018feb08.doc

Also referred to in the 9/23/2009 company Q&A:
http://www.medinah-minerals.com/Q_A_092309.html

... And CS, your statement, "First of all, your confusing me by misusing the term "M" also shows a lack of factual information. I'll readily agree you are confused, though, if you insist. lol
However, feigning confusion as you blatantly misrepresent and traduce a shareholder for being long is beneath you. As you are an accountant, you already know when dealing with currency "M" stands for million. Do you state "my salary is $100K", or do you say "my salary is $100M"? Obviously we all like to say $100M, ... but really, M for a thousand, and MM for a million is metric, and used for industrial measures, not currency... and yes, your assumption that I meant $10 million is correct. Did you really mean a tranche of $10M (thousand) was a reasonable threshold? Really, CS, to use your words - "No question about it. In this particular case I'd say "absurd" is more apt."
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