Replies to post #49106 on Medinah Minerals (MDMN)

[Hurricane_Rick]

The relevance is that from the point of the first pick-axe, and single shovel of dirt to the actual production of gold for this miner in the cold frozen climate, even with the obstacle of weather, being shut down for nine months of the year, the infrastructure went up, (clearing timber, building roads while having to traverse wide creek beds and iced over terrain) building housing, building smelting areas, hauling huge equipment to the site, setting up camp, with all this, it took three years to produce gold.

Some operations take longer than others. All mining operations have their own set of delays and obstacles, and that may go beyond physical development of the operation. For all anyone knows, the ownership of the mine you describe was sold off for a pittance given those challenges. Lipangue has many unique advantages as far as altitude, location, proximity to infrastructure, etc. that make it more valuable...and to that extent, commands a higher price tag. JJ sets the price. It's been "his" way for years. If shareholders don't like it, they are free to sell their shares and invest in companies with perhaps cheaper price tags...and less value.

Sure, it has been known for some time, certainly longer than three years ago, that these claims of Medinah's are rich in metals and minerals around Santiago, along with the deep deposits, there are supposed tailings that can be smelted. And just how long does it take, when properly equipped, to drill through the mountain? How long does it take to convince the major miner that these 1500+ claims are really worth spending $7M to explore. Rick, it's either worth exploring or it's not. Enough of these very soon, funding is imminent on and on.

Look at the price tag that JJ has put on these claims. As I said before, if you as a shareholder don't agree with JJ's valuation for Lipangue based on what you know of the property, then you should not be invested in the company as it would be commanding a price that you don't agree with.

Yes you did misread. My reference to shutting down the mine was not to Medinah, but to the other one that is located in the frozen tundra nine months of the year where it gets to 50 below, and has all the obstacles in the way, and yet it is being mined in very short period of time from the first pick-axe going into the ground.

I did misread your statement as I thought you were discussing Lipangue. I don't really care to discuss other mines/deposits on this thread that have no comparative relevance (IMO) to Alto de Lipangue.

Please be candid Rick.

I always have been, so I don't understand the nature of your request.

You have to have some degree of frustration, if not frustration, then dome degree of question as to why it is taking so long, while we sit and wait, and read the extrapolated messages from the leaks and announcements made from the top.

Every shareholder is frustrated by the delays. Any shareholder that isn't frustrated is either lying, myopic, naive or clueless. Do not for one moment interpret that frustration means suspicious or bearish or helpless. Some shareholders understand the dynamic and unpredictable nature of business. Some do not. It is up to each shareholder to determine what delays, adjustments or changes they believe to be reasonable or acceptable based on their due diligence, experience and knowledge...or lack thereof, and to act accordingly. Any shareholder that thinks otherwise and still holds their shares is, in my opinion, foolish. I have expressed this sentiment countless times in many forums.

Don't you agree that it has reached a point of even asking the simple question? What is there left, when there was nothing left to do but sign the agreement.

As I understand it, there are still some minor things left to finish. Perhaps our understandings of the current situation differ...so I can't agree with what you are asking.

Isn't it ridiculous for them to keep us in suspense. They never come out and tell us anything of substance. It is always "let's see what tomorrow brings" kind of statement.

I'm as anxious as the next shareholder to move on to the next phase of this investment, but I am capable of figuring out with a reasonable degree of certainty and understanding as to the nature of the delays and therefore do not share the same feelings of despair from the suspense that you have.

Stock dividend? When they issue hundreds of millions of shares and pay out a 10% stock dividend, it is supposed to keep shareholders satisfied?

The stock dividend has been discussed ad nauseum. Why is this still an issue for you? It was a zero-sum non-dilutive transaction that was approved by a unanimous quorum of shareholders at the SHM. If you didn't like the idea or effect of the stock dividend, you had the opportunity to vote it down. Maybe you did, I don't know. However, since the overwhelming majority of shareholders approved it, you had ample time to sell your shares (most likely at a profit from where you bought it) prior to the distribution and you could have bought back in at .08 or lower and received many more shares than if you held through the dividend. That's what I would've done if I didn't like the dividend transaction. If the share price is above .20 come October 2012 when the restricted dividend shares are freed up, there won't be a single shareholder complaining. On second thought, maybe there will.

Don't you have any questions about the way things are continually delayed.

I've had most of them answered to my satisfaction. There are a few delays I wish knew more about. I've found the most productive way to get my questions answered about a company is to ask the BOD directly, not a message board forum.

I understand your average sp cost is really low along with other early "investors". I congratulate you on what is now for you a tremendous investment. But, does a profitable position lull you to the point that you don't even ask what is going on in Medinah land?

I'm not sure why you are compelled to put the word investors in double quotes as every single shareholder with a lower cost average than today's price has been a bona fide investor, most likely for more than a year.

There was a time 3 or 4 years ago when my cost average was in the .022 range and MDMN never traded over .04, and only a few times over .03. MDMN dropped down to .004. At that time I had the same or perhaps greater feelings of anxiety that come with being under on an investment by greater than 75% which perhaps some late comers have to a lesser degree today. So while I have a certain degree of sympathy to those shareholders currently averaged in at higher prices, they have the same opportunity now to average down as I did then, although by all publicly disclosed information should have far greater confidence with their investment now than shareholders had back at .004. That is not a recommendation to buy more stock. I bought at a time when the outlook was EXPONENTIALLY bleaker and the risk tremendously greater as there was little to no hope of a JV in the near term at that time. I do not or will not apologize for gains I've made with the risks I took in this investment, nor should any other shareholder who had the balls to step up to the plate at a time that was one of the company's darkest periods and take advantage of the risk/reward scenario that was presented. Every shareholder that has a lower cost average than the current price deserves every single penny they risked and earned.

Having said all of that, where on earth do you think or see or assume that my cost average has anything to do with the questions I ask of the company or how that affects the tenacity with which I continue to perform my due diligence with regards to this investment? If anything, having a position of profit gives me far greater incentive to protect those profits. Go back and read my posts. I probably don't share more than 25% of my due diligence on this board so where could you possibly get the misguided opinion that I'm "not asking what is going on in Medinahland?" I'm always asking, finding and figuring out what is going on in Medinahland...as all diligent shareholders should be. It sounds like you're looking for some kind of Ted Koppel "Aha moment" with Medinah. I hate to disappoint you, but you're probably not going to get one.

Again I ask with all respect, don't you ask yourself why are things the same, but only a year or two later?

I don't ask myself that question because I know the difference and I'm confident of the outcome. Nobody will know the difference until the outcome. I'm confident in both the difference and the outcome.

Why can't JJ close a deal?

JJ closed LDM and Global Gold. Alto de Lipangue will be closing shortly. If you feel he can't close a deal and Medinah's success hinges on JJ's ability to close a deal, why would you keep your money invested in MDMN?

Maybe he will come through in the end, but the process would have been truly excruciatingly tedious. I have had some friends in this stock who finally have had to take a tremendous loss and close this chapter.

I find nothing tedious about making several multiples on my investment. This investment is not for everyone. Like I said earlier, I was down 75% at one time.

Sorry, I think this is a legitimate question to put to any shareholder, not just you.

I don't generally give buying and selling advice, but my legitimate answer to you is that if you have all of these doubts that are plaguing you, why on earth are you invested in MDMN? As you indicated in your response, you know of mining companies that develop their deposits faster in more challenging circumstances, so why would you continue to keep your money parked in MDMN? If I had the same questions and consternation that you had (I don't) I would've sold months ago. There is nobody holding a gun to your head telling you to stay invested here. JJ and the BOD certainly aren't mandating that you keep invested in MDMN so why blame them? Take your profit or your loss, whatever the case may be, and move on to another investment with better management, better potential, less risk, a clearer path to profit and relieve yourself of the attachment anxiety with Medinah.