Thanks for posting the chart Rick. I really felt this was going to be the result, even though I was wrong about a possible reversal after Tuesday's close. Whether or not the chart shows a head and shoulders pattern is a mute point. Regardless of what the chart showed, the real issues relate to integrity and a major credibility gap from which management suffers.
What I am simply asking for is transparency. I realize that you do not expect that of a pink sheet company. However, MDMN wants to convey the wrong message about their status at almost every turn. This has been the historical modus operandi for a significant number of years and not just months or just for a short term.
You're right. No one is forcing longs to hold on. That said, MDMN has shown bad faith by making claims, on which well meaning longs act, and then the bottom falls out of any sort of credible word coming out of MDMN's management.
The latest statements from DeCosta regarding the stock action of a few days back was unwarranted. If he had no connection to the seller of the shares on Tuesday, then he should have made no comments that were for public dissemination. In my opinion, his position is not to teach stock holders what constitutes a bear raid, or how stock traders are subject to margin calls or any other statements regarding the stock action when the share price goes up or down. The daily price action/fluctuation of shares is not and should not be any of the management's concerns, unless there is fraud and criminal intent by any traders and stock holders. Management should focus on activities of the company, perform their duties with great care and in an expeditious manner, and engage in activities that will bring to bear great results in terms of identifying, production, and sales with profit, to the extent possible of the underlying products of the business.
In the case of MDMN presumably as the owner of over 1,500 claims that have been studied by the owners, and then by many, many prospective buyers or JV candidates, and presumably these claims have huge world class deposits begs the question why doesn't the company mine enough of the product(s) to raise enough capital to mine the next amount and keep parlaying this asset and transform this company into the world class capital company that it now claims it is, which so far, based on their financial statements, they are anything but.
It has been mentioned that there is quite a huge amount of gold not too far from the surface on claimed land. So if the people of Congo can dig the earth with shovels, why doesn't MDMN find a way of extracting just enough to purchase some equipment, then use the latest and greatest equipment to drill those rich shafts full of gold.
I am really perplexed. I think you understand what I am getting at. Is this a real deal or are we being played with here like a string instrument.
I have another question. Has anyone other than the BOD or management, any third objective and independent parties, come forth and put their name to any documents that show the validity of these claims made by MDMN regarding the mining claims, the geological claims, the shafts, the gold, the silver the moly and copper.
I mean, hell, we all know that regions of previous mining activity had metals that were extracted, some small some large, but what is the current status of these claims? Who has vetted the veracity of these claims that are made with regard to the deposits of metals. Has anyone other than at the top JJ and crew? I really want to know.
For those of you who have owned shares of MDMN since the $.005 days and seeing your holdings shoot up from those levels to these lofty levels has not given you enough reason to sell. You obviously know more than I and are long because you believe the management's stories. Well, please help some of us who are long from these levels in garnering some sense of what the hell these statements are all about.
When I am involved in a transaction, when I say the deal is done, I would only make that statement because I have a mutually signed agreement and I have received consideration to clinch the deal. Otherwise, if those two things are missing, then I can only say that we are still in discussions and the deal is almost done. We expect the deal to be completed by the following date. Yes or no?
The BOD was present at the SHM, and there and then the repeated statements were made that the deal is done. Well, then there were a few minor details, then there were signatures to be singed. Then the documents were delivered to be signed. Then the stock takes a dive.
OK. I am just looking for answers. I want to know if any insiders have been selling since the share price was up at these levels. I would like to know if this is a genuine operation or just like the other pink sheet promoters, only with a better story to tell, and maybe a glimmer of truth, just enough that even all who tell lies even believe those lies because therein lies some truth.
Really frustrating to see people who are so mislead day after day after day. All I am saying is that if there is gold in those hills, it should not take this long to get the damn gold out. There are many gold mining companies down in SA who are doing a primitive method of extraction and making money instead of pumping and dumping stock. Tell me it ain't so!
