Medinah Minerals (MDMN)

[Goldstrike]

If I were being introduced to MDMN for the first time, I would be pleased to learn that there is not only a producing mine with very rich values in gold, silver, and copper, (crosscuts in the tunnel have yielded gold averages of 8+ g/t on the east crosscut and 5+ g/t on the west crosscut and samples from a newly discovered secondary tunnel showed 6.5% copper per ton) but that there exists a contract to explore, map, and drill a contiguous property for which we have a 180 million dollar purchase price along with a ground-breaking 15%FCI and a 7.5% NSR (net smelter royalty until fulfillment).
I’d say that looks pretty good. What doesn’t look so good is the pace at which things have moved for the patient long-term investor. Promotion from both the company and the shareholder base has led many to believe that development of this resource should have happened “yesterday.”
Everything is falling into place, albeit slowly. Patience is needed now more than ever. For those who are overextended, let this be a painful one-time lesson to never put all ones eggs into one basket.