Since the done done done announcement, to date, roughly 360 million MDMN shares have been traded. This begs the question of who is selling and who is buying. I am one of those buyers. However, I can assure you I did not buy 360M shares. I did sell some at a loss, and so did others whom I influenced to buy.
Coming right to the chase, a legitimate question is how much of the selling is by insiders.
I don't begrudge insider sales. I do however take umbrage when it's done in secrecy and in large volumes during the run up, while dragging their heals at announcing there was and there is no done done done deal.
If there is no deal, let us know. Don't drag this on while statements are made "hoping" to close the deal bery bery soon. Come right out and say it: "The deal is unwound and we are going to do it alone. We will explore with the funds we raised by selling you the stock." I can live with that.
Although the chart showed a constructive pattern of late, I wonder is this recent upside again another opportunity for insiders to sell into strength?
If they can announce the buying terms of $180M, and that the buying consortium has decided that since the deposits are so vast that they have increased their original exploration expenditures to $7M from $5M, why can't they announce simple, yet truthful explanations as to the delay.
Can JJ say "I do" and consummate this deal? And again, if there is no deal, how about announcing the reasons for the delays and give us plan "B". And this time, please don't tell us there's another buyer in the wings and that will of course take another year to negotiate, and by the way, we are under NDA and can't disclose anything but the following terms. "The new buyer is a major mining company and the new deal with these guys is much better. They are paying us $360M for the ADL and another $360M for LDM and we have a trailing interest of 30% instead of the poultry sum we had in the previous deal. See, aren't we doing a good job for y'all?
And oh by the way, the truck that had the ore that was waiting for the weather to clear up to take the ore to Enami, remember that? well, it never made it to Enami. It was hijacked on the way there. We have it on good intel that the hijacked ore had a value of $100K, and the hijackers are using those funds to mine their own claims with picks and shovels that they purchased from those funds. And we also heard that they took their ore that they dug with those picks and shovels to Enami and sold that ore for another $100K, those shifty slick backwards miners. We are really mad at them for doing all that while we wait and pick our noses.
But we can't prosecute them now for hijacking our truck full of ore because we don't have the funds to hire attorneys to file a claim against them. So sit and wait and buy some more shares while we sell at every peak and we'll tell you when we can lift the NDA and tell you when we have another done done done deal so you can come in and buy some more shares and we'll just keep mining the stock.
Enough!
