I think the market/new blood is tired of seeing words and want actual action, yes the deal is done but the actual mining should help us out of the hole we are in. Once the mining starts and the mountain begins to prove itself, the buying will start.
MOO, but what the hell do I know anyway?
Consider the short-term price action as a final phase of cleansing. You have to realize that there was still a large group of shareholders believing that this deal involved royalties (FCIs) on near term production and upfront $$. Doc posted something along those lines just a few hours ago. As has been stated and now FINALLY confirmed, this is a pure equity deal, initial cash flow will be used to self-fund exploration. MDMN’s share price will appreciate as the value of the asset is proven out and, ultimately, on a multiple of cash flow/production.
The sale of JJ’s shares is a huge positive any way you cut it. Yes, it points to the higher likelihood of a shorter-term tender offer but this will/would be confirmed if/when Maglas starts buying in the open-market.
Lespeak is finally dead. Vague updates from MDMN with open ended innuendos can be ignored. Looks like its time to hunker down and wait for some drill results. Enjoy your summer vacation. See you for Back to School.
Somebody just unloaded
Very interesting case on naked shorting handed down today from the United States Supreme Court:
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
ET AL. v. MANNING ET AL., No. 14–1132
State courts can now entertain these cases. An excerpt from an article I read:
“This is EXTREMELY IMPORTANT to the MARKET INTEGRITY of the trading in your and every other public company in the United States. After years of fighting against “naked short selling” (20 years from our efforts), the United States Supreme Court has blocked Wall Street’s attempt to stop companies and its shareholders from suing them at the state level. The Supreme Court ruled this morning that companies and investors CAN SUE at the state level for Federal Securities Laws violations of Regulation SHO (rule governing short selling) and the RICO (anti-racketeering statute) can be applied! This is the beginning of the end for the practice of short stock without disclosing it, locating it, borrowing it, paying the interest rate to borrow it and never covering the short position. RICO violations are punishable as a criminal offense and jail time.”
Might be time to get to work here.
Look at the price now. .015 on 4 million shares traded…And we can’t even get a “wire” release…REALLY…
And it can no longer be said that JJ and Claro are responsible, right?
We will have to wait for production reports and reserve estimations before new blood raises our share value. So, instead of “done, done ,done” it will be “wait, wait, wait”. At least we know what we are waiting for.
I’d give it more than a few hours…
It looks like some have swooped in on the seller to take those shares off his hands. The bid is starting to build again and this seller appears to be out of shares at the moment.
May 16, 2016
I swooped in to the tune of about 165,000 sh - not much but thinking about doing much more.
I love how BMIC keeps showing 10k on the ASK looks like they are at it again
Recall from the previous news release:
“This transaction is expected to be completed by the third week of April at which time AURYN Mining Chile SpA will start negotiations of the surface rights to continue its exploration program on the Pegaso Nero target”
It is my understanding that is what the hold up is, not the lack of funds from production to start the drill program. Hopefully, this issue will be resolved in the very near future.
Mike
Is the situation the same at Merlin/Fortuna?
As I understand it: no
This was an issue with the Pegaso Nero area on the side of the mountain. The surface access issue has been hanging around for months and sounds like it has waited for the resolution of these other matters to be resolved. This hinders drilling because you can’t trespass.
Auryn stated they would begin Caren mine prepping 2nd week of June, about 3 or 4 weeks from now. So that is clear. And it appears to be highest priority.
They also mentioned “further drilling of the Merlin-Fortuna targets” implying there had been some already, although we know nothing about this formally yet. They have already been all over those areas doing trenching so there is nothing holding up drilling in terms of access. I don’t believe there is any further permitting required for drilling, but it is possible. Ultimately they will need some further permitting to start mining the Fortuna area and the non-Caren-mine parts of the Merlin veins.
Update on the OTC now.
Still not on the business wire. I assume it will be eventually. I just can’t believe that we have a bad trading day, on perhaps the best news day we ever had…
Now that this news is released about JJ shares being resolved and being delivered does anyone think they will enter the market and start buying n the next couple days?
Since Greg is now out of the picture (as well as his wallet), is it safe to assume that Vital is now in charge of making information such as today’s release available to the wire services? If so is he now paying for that service out of his wallet? Or should we expect more share dilution to pay for news on the wires.
Hopefully Auryn/Masglas kept in place the clause for no further dilution. I assume that we will have to see the full details of the deal to know for sure?
MarketWatch
ALERT (SYMBOL: MDMN)
Medinah Minerals, Inc. Announces Completion of Sales Agreement with AURYN Mining Chile, SpA.
By BusinessWire - BZX
5/16/2016 4:19:25 PM
