Replies to post #59304 on Medinah Minerals (MDMN)

[Beth0515]

Obviously there is a lot more exploration and geological analysis that will be necessary before a determination of that magnitude can be made. However, to completely disregard the possibility of an open pit at Lipangue essentially dismisses the professional opinions of Gordon House, P.Geo (dec.), ACA Howe and the conclusions of Sepulveda Clemente Perez in his report on the property, among others.

I can see your way of thinking on this, and may have been rash in my quick dismissal. There MAY be a minuscule chance such an enormous operation could happen on the ADL.

"CAPEX", a term bandied about here quite a bit, for such a project are orders of magnitude beyond the capacity of anything MDMN and it's revealed partners to date could begin to comprehend. To even begin to envision such an operation would undoubtedly require the participation of a major. It is reasonable to assume 5 years of pre-feasibility/feasibility study and development of operations would be required before we process an ounce of ore, and it is certainly not unreasonable to figure a $50,000,000 budget to JUST GET STARTED (I realize you already know all of this) Nothing in our history or current mode of operations suggests the likelihood of such a relationship with a partner capable of funding such an endeavor is a anything more than extremely unlikely. I've whined at length in here regarding my dismay in term of monetization of the LDM, so we needn't revisit that, but you must concede it is very difficult to imagine our "boys" being involved in such a complicated and challenging operation.

It is also a leap of faith to believe JJ and company could successfully negotiate a deal with a major where they're investing millions of capital and years of development where stockholders like you and me don't end up with the short end of the stick.

But alas, I got in here on such a leap of faith, so I suppose crazier things have happened! Bring me news of a Rio Tinto or Codelco JV or flat out sale in October and I'll HAPPILY eat crow! In any case, thanks for sharing your perspective. To make things interesting, I'll wager $10,000 we've got nothing approaching an open pit op in the next four years, provided we can find a mutually acceptable attorney who can be trusted to hold the funds (sorry, no checks, Rick! ;-) ) Granted, BE would rightfully conclude the NPV of such a wager stinks...