Giving the BOD the benefit of doubt has not helped those who've held their positions. In hindsight, instead of trade and wait for a better entry point, those of us who held, have experienced a significant decay in the value of our positions. This wait period was in anticipation of the news after the Ulander debacle, of a major mining partner. But it only served to buy more time for many to distribute shares and move on. The further erosion of shareholder and company value has been significant.
I note that Tenney was hired to turn this ship around. So we were supposed to see clarity, candor and cash. The three C's so far have not materialized. I also note that while Tenney has made some progress with regard to the consolidation of ownership, there has been not one solitary mention of any resolution of any potential claims the company may have against partner A, Ulander et al.
I fear greatly that if in fact there is a serious partner, I find it difficult to believe this partner would continue its discussions and conclude an agreement absent a clear signal as to where we stand with Ulander. I know we have severed ties, and called Ulander on his bs purchase, but he still shows on his web site ownership of Medinah. So, BOD, how do you expect a self respecting major partner to come to our table to feast, when there is a wolf out there who could potentially disrupt this party? Just a question. Perhaps I am concerned about a non event, one that has not taken place yet. Why worry? Right?
The AGM announcement to many shareholders was potentially a signal that the JV was either near at hand or we were in the no turning back zone with the partner C. Again, giving the BOD benefit of doubt.
Prior to the above, the amalgamation of the ownership of claims into one entity had a practical purpose, which was to the end that the negotiations with the prospective partner would be streamlined and far more effective. Without which, it was claimed, the prospect would not move forward with the discussions. With that out of the way, we again give the BOD the benefit of doubt as we await the news of a consummated agreement with our partner C, as the update implies.
So, our anticipation is that this partnership will be announced soon, imminently, next week, next month. We give the BOD the benefit of doubt.
It would be quite a disaster, if we go the distance, and no news of a pending partnership is made, and at the AGM, as Dean implies, there is no partner, but the company has shifted its outlook on how to monetize our assets.
Here we go again. The aha moment has arrived to the doors of the BOD, and their decision may well be "to hell with our prospective partner", let's just go it alone. After all, each passing day, there is the accidental finding of new deposits, skarns, veins of gold. So we are now a royalty generating company, and we are not for sale or not willing to dilute our value by giving away so much to get so little in return. We will hold the properties and collect 100% of the royalties from allowing others to mine our gold laden properties.
That would be great. Just like the gold mining operations where they allow daily access for a fee to idiots who would want to pan or dig for gold.
I see it now. Medinah puts out a massive advertising campaign here in the U.S., invites those who cannot afford to purchase mining claims to come out south with the family on a gold exploration vacation to Santiago Chile. Medinah will charge daily, half day or hourly access to the property so the family could mine for gold all together, having such fun and discovering gold and silver, and don't forget the copper and lead. Oh the family ties will get stronger, and we will get rich on the backs of poor suckers.
And they will of course be greeted by none other than LP and JJ as they pull up all loaded up in their station wagons with pick, shovel and pans in hand. Oh what dignitaries await the slobs who will be lined up to get fleeced.
I can just see it now. Our royalty payments, revenues from these inexperienced slobs, gold diggers, will surely double, triple, even quadruple our share price. Why we might even see that long awaited cash dividend, finally!
Get ready folks, forget the old terminology "capital company", we are now a royalty generating company. The Beverly Hillbillies are headed down south to mine for gold. And we gonna be rich. Yankee dollars without end will be flowing into our bank vaults in such numbers as to even confound our illustrious CPA. He will have to invent new ways of reporting such revenue/wealth. Why this is our big chance to do another reality show. The Beverly Hillbillies in Santiago, with LP and JJ as their hosts.
Of course, don't forget our legal beaver. He will have to write up a legally binding general release of liability form for our prospects to sign before they step onto our properties. So he will be a happy camper too, generating income from this new profit center.
WOW! This is kinda like the "I could have a V-8" moment. Why did LP and JJ not think of this years sooner? It took a guy inexperienced in mining to come up with this scheme.
Absent a real partner, don't dismiss this plan. Incredible as it sounds, that may well be our way out of this circus.
