Medinah Minerals (MDMN)

[jetpilot1101]

Here is a follow up post on that same forum by cornhuskergold. Very level headed analysis. This isn't coming from the evil 'B' word either, this guy is an MDMN supporter.

Thanks for the clues but I think I have done enough leg work at this point. He has a past and it is relevant to a point. But I don't feel the need to spend my time diving into family history. If you have all the data already, feel free to share details instead of just leaving cookie crumbs around. We have more than enough of that behavior already.

My conclusion though is that ultimately, even if one wants to give Johann Ulander the most giant benefit of the doubt, I will go back to the "have you done this before" and "how did that go" questions. Even if he now has all the best of honorable intentions to make this thing work, it is unclear that he has ever put a complicated real and successful business operation together. Thus it is unlikely that this one will be successful even if he coughs up some money in the short term. His clearly repeated modus operandi is to make big promises, use securities as pledges, and pay up partial payments as unmovable deadlines approach in order to move them, then rinse and repeat. The claimed pattern of ultimately paying of penalties and making full payments eventually, frequently pointed to by HR and others, I am afraid is a pattern claimed on the basis of too few examples, and these amounting to modest amounts of money compared to the ADL, to provide any comfort to our circumstance, IMO.

If one is less inclined to be so gracious and give little to no benefit of the doubt, one has to think that we have simply become the latest cog in his ongoing global scam operations as he tries to land actual tens of millions of bond investment money, which may be his actual real goal. It also seem very unlikely to me that anything remotely close to a real major would be caught up with this guy. There may be some actual operating miners involved hopeful to find a score in Chile, but I would have to guess that "major" is a significant overstatement. And finally, just a crazy wild no-basis in evidence thought, since Ulandia seems to be in real trouble and the bond scamming jig may be up now, maybe his rumored trip to China was less getting money for Ulandia than preparing for his next state of global conquest by prepping a move to the far east and starting Ulandia2 in Singapore or something. On the other hand, that's probably just wishful thinking on my part.

One can also now see why "legal" talk started emanating out of Les' mouth about 2 months ago even before the promised March timeline came and went. There has even been a reference to a "legal opinion." Our boys are nervous about the whole situation now. They don't want to do anything or say anything that could end up as cause or fuel for a protracted legal dispute. I suspect they are sitting and waiting as nervously now as all of us as to whether that initial check will really show up, almost (or in fact) hoping it doesn't. They also better have some real Chilean mining knowledgeable lawyers at hand.