Medinah Minerals (MDMN)

[Hurricane_Rick]

MDMN's properties have always been there.

As I've answered countless times, Medinah's properties were historically a patchwork of claims on ADL, but not a complete package that would garner interest by majors for joint venturing until about 2007 when Medinah increased their claims on ADL to a size (5x greater than previous) that warranted interest by majors. Now the claims are one contiguous block of 1508 unencumbered claims.

Nobody's shown any serious interest.

Well the ones that have been revealed in the past are Mitsui Mining, Hoschild and Amarant. The problem has been that JJ was not willing to relent on his terms. After the last two debacles, it is reported that he has relented to an industry-standard type of deal.

Why should any major do that now?

As I explained in the previous post, because ADL's proximity to Santiago and its infrastructure as well as the low elevation make it an attractive low Capex target. Even at times when PM prices are depressed, miners don't halt exploration, particularly not for potentially low cost projects.