"In their SEC filings, in addition to the disclosures required by Regulation S-K and 20F, mining issuers must include the disclosures required by Industry Guide 7. All U.S mining companies that are SEC filers are required to report under its rules."
Interestingly, Medinah was so hell bent on upgrading its listing status and become a reporting company a few years ago. At the AGM, based on the newly forged agreement with an illustrious Sweedish meat ball, they were so high, in no uncertain terms, on the propogation of their mission statement to the shareholders, the public, that Medinah had turned the corner and was now moving forward with all required steps to become a reporting company. Further, Medinah had now become a "capital company", whatever that meant. Hiring an attorney to start on that road was one of the announcements. In the least, the BOD made all sorts of forward looking statements. Whether these statements were made with intent to create a buzz and thereby promote the SP is to be proven. But, history has proven that their agreement(s) were anything but complete. So it would not be a reach for an objective observer of the company modus operandi to see through these statements.
So as long as Medinah is not a SEC filing mining company, in the eyes of the public, the BOD will continue to be less than reliable in any of their representations. Each and every statement published by the company now and in the future has to be taken with doubt and disbelief until what they claim has proven up.
Why? Because it appears they are still hiding behind the veil of the "non reporting" status and therefore cannot be held responsible for the outcome of their misstatements, under the same high reporting standard of a SEC reporting company.
In that context, any attempt at floating the notion of dividend payout again has to be taken as an intent to appease shareholders, rather than using any new funds for operational purposes to fund activities that would truly enhance shareholder value.
What would be the source of the dividend? The answer is, an investor, partner. Why would an investor, JV group that puts up any money, want those funds to be used for shareholder distribution? If I were making this agreement with Medinah, I would insist on a cooperative move in sharing the exploration capex, rather than see my investment dollars be used in paying dividends. My opinion is there is no dividend coming. Par B to my opinion is that if Medinah uses stock dividend, sp is headed south, unless it is coupled with substantive news, new capital in the bank.
So here again, if in fact Medinah is allowing information to be leaked to the "annointed" ones regarding dividend distribution, so in turn they then get the message out to their sphere of influence, and eventually to the ears of all shareholders, the company is using again a tactic to keep the share price up and appease shareholders. This type of hype is so transparent, it really is too odious even for this BOD. I wish they would simply stop throwing out bones and move ahead with the business of mining/wrapping up an agreement already. That is if there is a group out there with whom Medinah is still talking. Enough!
