did they ever officially say they had a deal?
seems there was a lot speculation thrown out that the supposed partners had us do all this work. Even decosta offers that this was "apparently" the case, but it was never offered officially by the company
from doctor slime himself :
"After the partner's BOD apparently mandated that we amalgamate all of those concessions into one entity i.e. MM Chile and then have MMINA buy out MMC and then have the Chilean Mining Registry check off on the status of each and every concession as to title and tax issues then I would hope that some type of quid pro quo was involved like them funding the drilling account or something similar. Until the marriage is officially consummated the two parties need to keep their task lists somewhat in balance. That was a tremendous amount of work they mandated us to do. "
He forgot to add apparently to the last sentence, which should have read " That was a tremendous amount of work they apparently mandated us to do.
from Resource Miner (the poster that confirmed there was no ore being shipped)
1. If a board of a real mining company, which is public, approves a JV that will require a significant investment, it would be public. Which tells me either a deal is not done or the partner is private. Real mining companies don't operate like MDMN which announces things whenever they feel like, if at all.
2. Why would Volcan, which just got down graded, jv on the ADL. Yes, diversification was one of the items noted. But as importantly, if not more, was deteriorating cash flow and liquidity. Taking on a JV for the ADL only compounds those problems.
3. Someone posted there has to be a quid pro quo for amalgamating the properties/entities, such as funding a drilling account. A real mining company would not let MDMN anywhere near a drill program. They have the experts and experience, MDMN is having trouble mining a simple project like the LDM.
4. Lastly, why would a jv partner pay us anything when the partner will be funding 100% of the exploration and development of the mountain?
Maybe I think this way because I don't have much invested here and have been in the stock for a relatively short period. But I classify this as nothing more than a gamble on a pink sheet. How can you trust a company that calls there quarterly report a 15-211 which is really just a rule and has nothing to do with reporting requirements. Not to mention no explanation on where the revenues reported are coming from.
