Medinah Minerals (MDMN)

[paddydaddy]

Good morning Beth. I got your PM, thank you. I don't have that feature but I will answer here.

In regards to the LDM, and I stress that this is only my opinion, there were a number of contributing factors that have played in to the delay of shipping/mining of ore. The first factor seems to be the safety and security of the mine and it's workers. I believe the additional rules/regulations stem from the trapped Chilean miner issue a few years back and secondly the environmental/power consumption issue that the country faces going forward. Inherently the mining industry has massive regulations for obvious reasons.

The second factor that I see is financial. The group that formed CMLDM had a relatively small initial operating budget. They did what they could to set up the mine with the initial funds available but like pretty much any mining company in the initial stages of development there were various factors that required more time/money which slows the process.

Thirdly I believe that the ongoing negotiations with Partner C may be playing a factor. To what extent I am not yet sure but my thoughts are that they want to include the LDM in the purchase of the ADL. It would make sense as this property is essentially the low hanging fruit and could be used to create near instant cash flow while drilling and proving up the ADL.

Hopefully this answers your question. I would be interested to hear your thoughts on the issue.