Medinah Minerals (MDMN)

[jetpilot1101]

MDMN has no revenue in spite of the apparent "mountain" of ore they have stockpiled. Shareholders have been trying to get management to ship it to Enami or some other mill but as of today, various challenges have prevented MDMN from accomplishing this task. Rumor is that the mountain road is being worked on with heavy equipment and that "blasting" is occuring.

I assume that the miners/workers stockpiling this ore, working on the road and continueing to the drive the adit into the side of the mountain are not working for free. I also have to assume that JJ, Les and the rest of the crew are not shelling out money from their own pockets to travel to various places aroud the globe to negotiate deals. But if they are, I assume they are keeping careful expense reports and will be expecting the company to reimburse them if/when MDMN begins to turn a profit.

So as MDMN continues to pile up expenses with no revenues, it appears that issuing shares is how they are paying for said expenses. If there is another way I'm not addressing, please enlighten me. I know many fledgling companies dilute to raise capital for ongoing operations but MDMN has been doing this for 16 years and coming up empty. When will the shareholders stand up and say enough is enough?