Replies to post #65514 on Medinah Minerals (MDMN)

[Beth0515]

The amazing thing is that if they're putting up "hundreds of millions" to mine it, that means they believe the property is way more valuable than that.

Your post demonstrates a lack of understanding about our agreement with AURYN, and is dangerously incorrect.

Here is what we have:
The finalized Agreement obligates AURYN Mining Chile, SPA to immediately initiate its first phase drilling and exploration program with a US 10,000,000 budget that must be submitted to Medinah Mining Chile and Medinah Minerals, Inc. no later than August 15, 2014. All drilling and exploration costs will be borne solely by AURYN Mining Chile. AURYN Mining Chile does not earn any equity in the Altos de Lipangue properties for their expenditures in the drilling and exploration program.

AURYN has three years to poke around and decide whether it is economically feasible to mine the property. They hold an option to purchase 85% of the ADL claims for a "minimum" of $100,000,000 expiring in 36 months:
The final Joint Venture Option Agreement grants AURYN Mining Chile, SPA an exclusive 36 month option to purchase 85% of the Altos de Lipangue group of claims for a minimum price of US $100,000,000, in an all cash transaction, upon the final exercise of the Joint Venture Option Purchase Agreement.

I hope this helps you understand your investment.

[heyheyhey]

padrino, where in the world are you getting this info ? Read the updates ...

[Medinaminer]

The dilution clause in the agreement is accretive to the buyer, and is a deal breaker and serious breach of a buy/sell agreement. So, the asset value does not erode over a period by the seller.

The old adage, "buy on the rumor, sell on the news", applies even to pink sheet stocks.