There will not be an Alto deal. There will not be a buyer C/jv or anything practical to create/produce revenue. This is now getting old and no one will believe JJ if he comes up with that scenario. So the future announcements will revolve around Medinah mining its own claims and working the mines, skarns, adits alone, as no one seems to want to close a deal with JJ and his friends. Not even the attorneys who work for the buyer(s). If they close the deal, their legal fees will stop.
Here is what I see.
JJ and his minions will continue to do their comingling deals with other claim holders and among themselves. Taking small/large percentages from and with each other.
They will give worthless stock to buy/take minority/majority interests in other claims and with other claim holders. These new stock holders sell their shares at market which will continue to depress s/p even further.
They will make statements and make claims of discoveries, plans to explore, new finds on new adits, excavations, shafts, skarns, but with no apparent results or actual concrete drop dead dates for monetizing any of the assets, that is assuming there is anything to monetize.
You will note that each and every announcement/update has a never ending saga. There is always the next string that needs to be revealed for the announcement to have any real impact. And guess what, that conclusive deal maker announcement, that the deal is actually funded, or tons of ore have been sold for actual revenue/income never come.
The real question is, will it ever come for current shareholders to benefit those who took the risk. Will Medinah ever perform, or just keep adding new claims, new royalty deals, new discoveries and never ever take advantage of the current prices of metals and minerals and bring an ounce or two to market and raise a few Yankee dollars instead of trading worthless paper/stock. And if so, when? Next week?
For those who have been fortunate enough to own the shares from sub penny days and have recently added to their holdings, MDMN looks good. But for others who have gotten in based on done, done, and done deals, near the top end, and all the other representations made by friends, insiders, JJ and BOD, this does not look so good.
One more silly question. It seems to me I recall reading that the attorney for the buyer(s) was making demands on JJ to fly to NY to sign the finalization docs. JJ could have walked to NY by now and returned to see the snow capped mountains of Chile, had he started the hike to NY, and had he really been interested to do the deal or should I say, (please forgive me die hard Medinah believers) if there ever truly was such a $180M deal for 15% of Alto. Perhaps the only real Alto is JJ and his cronies singing in Alto while they sell shares of MDMN.
Nice!
