Medinah Minerals (MDMN)

[superdow]

IT seems clear that AMarant is going to begin drilling in October. What's not to like about that. They probably do not have to complete the drilling program if the initial results aren't good. I don't expect MDMN to receive any type of cash if the drilling results aren't good. Common sense tells you that AMARANT isn't going to pay a cash bonus for the privilege of drilling with no results. However, if AMARANT continue with the program, because results are good, cash will flow to MDMN through a successfull IPO , and MDMN will end up with a 15 percent FCI. If Amarant abandons the mountain, we get the property back (it would seem)and have lost nothing but time.


This news was out before the bell and did nothing for the share price. So probably even notice of actually drilling isn't going to make any difference. Just drill results that are good. Also the actual receipt of 5.4 million if it every were to happen won't make any difference. Geeze this company has a $100 million market cap. What difference does a measly 5.4 million make. It will just be wasted by management as soon as they get their hands on it.