Replies to post #59267 on Medinah Minerals (MDMN)

[Goldstrike]

The defined difference between authorized and outstanding shares should be noted when throwing out numbers in a legitimate discussion.

[easymillion]

so ... "Why didn't they?"
At the time of the Howe report which you reference:

The Lipangue Property consists of a total of 5 claims (3 mensuras and 2 manifestacions) covering 1,363 hectares. The Dos Marias property consists of one "mensura" (mining claim), which covers a total of roughly 130 hectares.

http://www.medinah-minerals.com/pdf/geologic_june19.pdf

After seeing such positive drill results early on, it was imperative to acquire as many surrounding claims as possible, which now shows in MDMN's claims inventory. From the company profile today:

The recently expanded contiguous properties cover an area of approximately 15,000 gross hectares.

Invested in the Mountain
...and That's What Counts!
easy

[Beth0515]

As for DeCosta's math; no one disputes it since it is basic multiplication. What is being discussed is the legitimacy of his numbers.

Indeed. I'm sure the dentist is a very nice fellow, but he is not a geologist nor an engineer, nor has a background related to extractive industries unless we're talking teeth.

Your points regarding MDMN never proving anything and dropping the ball with respect to ACA Howe's recommendations were well articulated a few months ago (see post 48899, or any of the others by the same author, one who actually DOES have industry experience and DOES NOT have a vested interest in MDMN doing well)-

The original scoping studies by ACA Howe were excellent, but a work in progress that was never followed up. DeCosta's report on the property is lengthy and goes into a great deal of detail, but it's ultimately based on Howe's data taken out of context and with extrapolations of other reports to produce the ultimate best case scenario.

Having worked extensively (including at present) with porphyry, breccia and skarn deposits I know that breccia systems are not always indicative of underlying mineralisation (it is quite possible for all the potential energy in the system to be used up in breccia formation without the formation of a crackle breccia or relict mineralisation in the host porphyry); the presence of abundant quartz is indicative of high fluid flow, not economic mineralisation; IP surveys are not gospel and can respond equally well to barren iron mineralisation as well as to copper and, most importantly there is an enormous difference between a mineral resource and a mining reserve - quoting a figure of 722,000 contained ounces of gold (based on only a few holes, as if they are representative of the whole) for the Gordon Pipe may, for the sake of argument, possibly be correct, but when you do a rough calculation based on likely tonnages, the overall grade would have to be below 1g/t for the pipe as a whole, and even if you selectively mined the pipe to take higher grade zones, the likely returns would still render it sub-economic.

At the moment you have a low grade breccia pipe and some potentially economic gold veins, but not much else that can be positively confirmed. The Lipangue area has potential, but talk of World class deposits is at present without foundation, and talk of mineralised porphyry systems and billions in the mountain is just wishful speculation. The answer is simple - bring back ACA Howe and let them complete the job with a definitive drilling campaign and verifiable modelling of the data to give you a real idea of what the mountain is worth.

Thanks to Bre-X and other mining scandals, potential investing/venture partners are used to relying on independently written NI 43-101 reports, which fleshes out the crooks from the real deals. Maybe because we do not have such a thing explains why we have no partner in the ADL. Without a 43-101, we have nothing but hopeful promises and old, incomplete and completely unbankable samples, which just can't be taken seriously, I fear.