Replies to post #74910 on Medinah Minerals (MDMN)

[jetpilot1101]

Masglas and Auryn needed MDMN for one reason and that was the property. This was the only trump card that MDMN shareholders had to play. Unfortunately, rank and file shareholders never had an opportunity to play it because they were never really in control of MDMN. Insiders like Lester were always in control of the majority of shares and never gave people like you the opportunity to chart the course of the company. Have you ever been able to vote your shares on any BOD proposal? The answer is no and this was intentional (and is with most craptastic pink sheet stocks). Now that Auryn and Masglas control the property, do you really think they gave a rip about some crappy pink sheet stock that doesn't even trade on a legitimate US exchange and produces kindergarten-quality financial reports (my apologies for insulting kindergarten children)? The obvious answer is no and while various entities do own shares in MDMN, my guess is they didn't purchase them so they aren't out any real money. They were given these shares either via compensation or some secret deal wherein their risk is substantially less. Any loss due to these shares can probably be written off on their taxes. My point is, they don't give a crap about MDMN. They accomplished what they set out to do, gain control of an unproven property. They took a risk but like good businessmen, they minimized this risk to ensure that if the property doesn't pan out, the losses will be minimal. I concede they are spending money to see what they actually purchased and they are hoping that their exploration program yields results that will net them good returns. But if it doesn't...they'll move on to the next property and MDMN shareholders will be looking around with not even a pot to piss in. You and your fellow shareholders are at the poker table and you are "all in". Given the fact that major companies in the area have been passing up on this property for decades, I'd venture to guess your odds aren't good. Your only hope now is that the mountain delivers in spades AND the folks running the show in Chile care about you. If they don't, and I suspect they don't, you will probably come away with a pittance at best and a big fat goose egg at worst. Lester, JJ, and the whole s***show of a management team screwed you. I think Auryn is more ethical but this game isn't about rewarding longsuffering shareholders - it is about minimizing risk and maximizing reward. I'm positive Masglas and Auryn did this and sadly, MDMN shareholders will probably pay the price.