Medinah Minerals (MDMN)

[easymillion]

OK,I Was Referring to Illegal NSS Used Manipulatively
as a strategy, and not to provide liquidity in the market, as is allowed occasionally under very specific circumstances.
As Forbes put it:

In regular short-selling, a trader borrows stock, sells it, and waits (or prays) for the price to drop before buying shares back to repay that loan and pocket the difference. There are rules for assuring that the shares have been properly borrowed, and everyone is supposed to abide them.

In naked short-selling, the trader sells the shares without properly borrowing the stock. When the stock isn't properly borrowed, the buyer at the other end of that short-sale doesn't get delivery of the shares within the mandated three-day window. The buyer also loses out on voting rights and tax-advantages until the short-seller closes out the position.

Now, fast working market makers are allowed to sell without borrowing to keep orderly markets. But naked short-selling as a strategy in and of itself is illegal. It is, however, highly tempting for both prime broker and hedge fund trader.

The systematic level of short vs long trading volume in MDMN over an extended period of time makes it highly unlikely that this pattern of trading is legal, IMO. The SEC denied there existed such a thing as NSS before enacting REG SHO to correct the problem that it said never existed. The SEC has not enforced the regulation, as MMs are readily able to hide any NSS by wash trades amongst themselves to avoid reporting and trading restrictions required by the law.
Once the funding announcement is made, and it will be made, it will be a moot point regarding pps. The valuation will be shown as drilling progresses to be much more than the present $2.2 Billion shown from the old drilling results of only 2% of the property.
If You're In, You're In
Invested in the Mountain
... and That's What Counts
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