Medinah Minerals (MDMN)

[easymillion]

RD759 - Yes You Are Correct, Of Course!
Not what many here want to be hearing.
Major and Junior Mining companies are near a bottom, according to many chartists.

As to your second question, I really don't know; I cannot fathom out the way the stock market operates. The company I worked for is currently trading at $0.61 after the JV; Six months ago it was trading at $1.20. Another company I worked for, a junior with a string of good projects is trading at $0.035 and another company with an excellent producing gold mine is trading at $0.09. I have to scratch my head when I see people predicting MDMN will reach over $1. I'm not saying it won't, just that I don't understand why!

As to why, look at what paper trades on the CME have been doing. For every 100 trades (paper) there is estimated to only be 1% delivery of physical gold. Presently, there is historic backwardation in the futures gold market. Major firms can sell today and buy future contracts for less than the going PPS for gold today making instant profit. Google the terms "backwardation and arbitrage in gold futures market". Same thing in the silver market.
It can't and won't last. Present cost to produce an ounce of silver is $25. A few investment "experts" are saying silver is going to $75. Time will tell. That 1% delivery of physical gold to investors year over year has depleted the physical gold inventory in CME by more than 75%. Major minors (GDX) down over 50% in the past year and Junior Minors (GDXJ) down 65-70%. Commodities market trading in paper has definitely had an impact. Check the charts and see. All profitable miners, and those with potential resources, and especially those with proven reserves, are due for a major reversal according to many who follow these markets. I think MDMN will surprise to the upside before year's end. Awaiting details of contract announcement. As the saying goes "a rising tide will float all boats". Your present company (or the one you were working for) is no exception, IMO.
Invested in the Mountain
... and That's What Counts!
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