Medinah Minerals (MDMN)

[Medinaminer]

Rick,

Lipangue has many unique advantages as far as altitude, location, proximity to infrastructure, etc. that make it more valuable...and to that extent, commands a higher price tag

Surely this advantage was not compelling enough for Buyer A who walked at the risk of being sued rather than fund the deal. As far as I can tell, no one has offered a reason for the failed deal. What we were told during the protracted delays was the deal was completed and it was going to be funded. Shareholders have to be told candidly why it the deal failed. I have to believe it was not over valuation. Why? Because negotiations were ended and the only thing left was to be funded. Rumors were abound about all kinds of problems with regard to the transfer, patriot act, on and on.

If a listed company acted in this manner, the company directors and officers would have been ousted long ago. JJ et al probably have a majority holding position, so in this case it will not fly, even if the shareholders vote in unison for an ouster.

The other point is that not too many here are as well versed in the state of the claims as JJ and a buyer doing DD. Are there issues with regard to the claims that have come up and that do come up during the DD that the board is cognizant of but fail to be transparent in informing the shareholders? Certainly major mining companies will not pass up a world class property, especially when their competition is also knocking on the same door. JJ and the gang are quick to tell us the deal is done, but fail to let us know why the deal is not done or why it isn't funded yet, twice to date.

Look at the price tag that JJ has put on these claims. As I said before, if you as a shareholder don't agree with JJ's valuation for Lipangue based on what you know of the property, then you should not be invested in the company as it would be commanding a price that you don't agree with.

Rick, the price tag is not the issue. The issue is they announce at the shareholder meeting the deal is done, the price is $180 and free 15% trailing interest and if the production is above a certain dollar figure Medinah participates in the windfall. Yes they tell us these things, but then the deal is not done.

I am not in a position to tell JJ how much to sell the company for and how to make certain the deal closes. However, I as a shareholder, do not want to be told the deal is done and funding is "imminent" when it was not twice now. This type of call it premature at best, less than truthful at worst. Which is it?

I am sorry, I will not reply to the remaining answers to my questions at this time. Not because I do not respect you for your positions, but we disagree on the substance of what is going on with the BOD. Their behavior does not pass the smell test. What are they hiding? To be continued.