This type of information is both perplexing, reprehinsible and incomprehensible. Medinah is under a strict confi agreement. But yet friends and close associates of the BOD, seem to be given the wink and a nod from time to time to spread the Medinah gospel.
So which is it? Is there a NDA in place? If so, who talks to these guys who seem to know what the latest happenings are within Medinah Land? If the public gets these filtered rumors, then what good is the NDA. Who is talking to these close associates and friends?
Here is another thought. If insiders are feeding info to close friends to send out these signals of the imminent funding, deal closings, name of one of the current buying entities, then can anyone tell me why Medinah does not release the name(s) of the previous buyers of the failed deal. The NDA on the failed deal is not in force at this time. Why keep the name wrapped in a Chilean tamale.
So shareholders are to believe these rumors coming from those who know what is to transpire within days, weeks and on and on from an insider who is leaking info that is not public knowledge which info is presumably governed by the NDA. This type of game is beyond the pale. This is manipulation for personal gain.
The direction of the share price is signaling a huge disappointment, even if the funding will go through. Just as some here were sure that the direction and share price action was positive in anticipation of the announcement of the buyout, since the topping action in the share price and continuing to the present, the share price and direction is signaling a weak or a no deal.
With regard to the so called deal, I have long been asking what is the first tranche of the $180M, if in fact the deal is real and still alive. If the first payment is a substantial number, compelling the buying consortium to stay committed, then we may be in for an appreciation in sp. If the first payment is a token payment, a nominal amount, then there is nothing to cheer about. The consortium will drag things out forever and Medinah's only option would be to try to break the contract and seek remedies in court. And that could take years to unwind.
Imagine, if it has taken all this time since the announcement of a done deal, and we still do not have a clue of when or what, then if there is trouble in River City, how long will it take to unwind the legal mess between the consortium and Medinah.
I would be thrilled if this deal is real and the buyers are ready to perform. I would be more than pleased to see real lab results of the assay from ldm reporting a potentially great find. But the historical record of Medinah makes me doubt each and every word. They have always carefully crafted their announcements.
My paper loss in MDMN is my fault. I fault no one else for my decision. That said, being candid and forthright to the shareholder is not a quality I find in Medinah's bag of tricks.
Let me take a moment to correct the error in my last post. Of course what I meant to say is that the $180M purchase price is for 85% of the claims not 15%. My bad.
