MEDINAH MINERALS Question & Answers
July 30, 2010
Question & Answer postings are compiled from time to time, as an information source as to company actions and/or activities. Q&A posts will continue in the post-Joint Venture Agreement phase concerning Company activities, to provide ongoing information for the benefit of Medinah Minerals shareholders.
Q: Has the company decided on a specific Joint Venture Agreement partner to finalize contracts with yet and if so, how soon until you can disclose all the terms and names of the participants?
A: Yes, a preferred partner has been selected. Through continual negotiation, both parties have prepared and completed the necessary documentation for signature that will be filed with the applicable government offices, agencies in Chile, and the appropriate consular offices. This process is very time consuming and we will not speculate as to the exact date when a fully documented release will be made to the public. As was stated previously, the final Joint Venture Agreement completion announcement will be made when all necessary Chilean government agencies have signed off, and funds are received and verified into the Medinah Chile bank account.
Q: Will an annual meeting be held in Las Vegas in August?
A: Medinah's Company policy has been to give 30 day's notice for a shareholders meeting. This allows for all shareholders to have an opportunity to attend in person. We do intend to call an AGM as soon as we have confirmation of the JVA signing. Hopefully we will be able to shorten the notice period for the celebratory AGM.
Q: Why does the company not post information on a timelier basis?
A: Not all parties want to see Medinah Minerals, Inc. prosper. Informational streams are used both positively and negatively depending on one’s agenda. MDMN will only report credible and verifiable information on the company website. The company has repeatedly stated verbally, and in print, that we cannot be accountable for misrepresentations, rumors, or speculation posted by person(s) known and unknown.
Q: I have heard, but am not certain, that we were very close to Agreement deals in the past with other companies when various individuals shared sensitive NDA information publicly. These persons made the information public and caused the companies to pull out and the deals to fold. Is a similar scenario happening again?
A: No. The company’s policy has been to try and maintain NDA information in strict confidence. However, several times in the past, we lost potential partners because of violations of NDA agreements and well-meaning shareholders pestering the potential Joint Venture partners’ offices and employees for information. Nefarious individuals also utilized this information to cause and create mistrust of Management’s honor relative to NDA mandates thereby “killing” potential deals. This cannot be allowed to happen again as the company has moved toward completion of a meaningful agreement and the resulting consequences of violating NDA provisions would be disastrous for all parties. To assist the shareholders in understanding the sensitivity and restraints of the situation we have published, on the Website under the heading News Odds & Sods, two current NDA agreements, one in English and one in Spanish.
Q: How do you account for the recent volume increases/decreases in the daily trading? Are the shorts covering at this price? Are people trading on rumor or speculation?
A: Medinah Minerals, Inc. maintains, as it always has, a free-trading market and person(s) can, as is their right, LEGALLY buy, sell or short shares. This is quite different from ILLEGAL naked shorting activities.
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