Replies to post #56167 on Medinah Minerals (MDMN)

[Hurricane_Rick]

Again Rick Amarant has 10 years to paid up or loose the money correct? answer this question to yourself honestly.

I've answered every question honestly, no need to qualify your question. You are not understanding the terms of the deal. Amarant has until July 12th to pay the first tranche of $18 million. That is a term of their Purchase Agreement. If they don't pay that, they will be in default. Whether that results in a grace period with penalties (ala Huakan Mining) or whether JJ et al feel that Amarant doesn't intend on making good on their payment obligations will be fleshed out well before 10 years. Everyone will know soon enough of Amarant's long term intentions and financial capabilities from how the drill program is executed, their payment of the $5.7 million Alluvia Mining collateral sale, and the $18 million ADL first tranche. And keep in mind Amarant is leading a consortium of 5 members for the ADL project. Not all of the financial burden will fall on Amarant.

Since we do not see or have seen the contract nothing stands on the way for Medinah to Cash the 3.0 billion shares in the next say 5 years or even 3.

Nothing but your imagination.

[paddydaddy]

At least you can admit that we haven't seen/read the contract...that's a start. All of this is pure speculation until we do.

To be clear, Amarant has 10 years to pay the $180 million or they get NOTHING...NADA...ZERO. At least that is what we think is in the contract but again no one has read it so we don't know what changes may have been made between Feb. 2012 and July 2012 when the contract was finalized.

As for the spending of the authorized shares I would suggest you look at the past. Medinah NEVER spent the shares willy nilly and clearly stated at the last SHM that the raise in authorized was for the purpose of acquiring new properties or positions in properties should they come our way. Think Ciclon 1 & 2 and the Jota.