This is why weāre all here - waiting on that one piece of good news we always āknewā would be coming, and then this thing FLIES. Yesterday, we saw just how quick that flight can happen, and without any news. There is a basis for this - the geological structure is there (courtesy of brecciaboy and Mike) - and we are basically at the beginning of the Lassonde curve, waiting for the slightest bit of āevidenceā (in this case production) the company could be profitable.
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I find pumping this, after all these years, to be quite nauseating. Anyone else?
The odd thing about yesterdayās price action was that at one point there was a bid of over 13 million shares at .0075. That equates to close to $100k on the bid when the stock was already up 180%. Without knowing the circumstances, it appears someone is either desperate to take a position at any price or someone is very careless taking a position at any price. Whether or not that person or persons has some sort of foreknowledge, tangible or otherwise, or other rationale for their aggressive buying pattern, remains to be seen.
Disclosure: I took advantage of the spike and sold some shares at .0075 and .008.
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Rick, both of those scenarios bode well, it seems. Whether they know something or are just careless, at least theyāre taking a position. But Iām wondering exactly WHO would be taking a position in a stock that sells for a fraction of a penny - unless they do in fact know something - bwahahaha!
āPumpingā? That implies weāre just here for the sport of it.
FYI, the people around here have basically been regarding this money as dead money for years from a micro standpoint. To add fuel to the fire, Hochschild has done very little to advance the project under the contract, and then on top of that the Chileans are looking to change their constitution - and who knows how THAT will turn out (Ecuador and Fruta del Norte comes to mind). And youāre offended because we finally have an opportunity to get some of our money back? Sorry pal, weāre not āpumpersā - we have been around here for years and have dissected the local geology to death - very reputable people have opined. ADVICE: Do a search of brecciaboyās posts so you can get educated.
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My 2 cents - someone knows this is for real and they cannot buy AUMC shares with any scale. There is only 2.5 million out. Only choice - buy MDMN - for now.
Rough guess of around $300,000 of investment in MDMN moved into the $0.007 range. AUMC moved proportion on $12,000 investment.
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Nicely done 
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My fleeting thought on this was someone took some crypto profits and placed it here instead. 
The charts are starting to look interesting, along with the slow, but methodical progress being made. At this point, management has a long term plan to turn this into a successful company. It has been agonizing for longs that thought this stock could move on the merits of the property alone.
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Bubba, I have been around so long I have Medinah GOLD shares. Want some? And I remember how you constantly stroked LES et al, and supported all his lies and obvious, to most, illegal activities, at the cost of us shareholders. I canāt believe you even show your face around here. Oh, but wait, you donāt have to show your face, do you. I guess thatās why.
Yeah, your pumping is nauseating to anyone with half a brain. I guess thatās why you canāt see it.
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Most here have moved on to better āinvestmentsā as shown on the other forum threads and contribute as we may to the success of all. Individuals must take responsibility for their own investments, even those that miss the mark miserably. Sour grapes is not the same thing as putting an unfruitful investment into the sock drawer. Even though Iām not buying or selling MDMN, I have a very large unprofitable position that I donāt need to beat up or berate others for. Most shareholders continue to feel the pain, but remain hopeful that we will not loose all here. Those that have sold and moved on are free to do so, FWIW.
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good for you. wish I would have sold a bit.
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This seems to be the most logical reasoning, IMHO.
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HR,
For your situation, Iām sure this was a very wise descision. For most, an informed look at what it will take to make MDMN share price to be āequalā share for share with AUMC one should really work the price and conversion ratios out for MDMN. Of course, day and swing traders have a different strategy than long term investors. Remember that MDMN has not yet been reduced by the 1/100 that CDCH underwent before becoming AUMC. Also, remember in your comparison that CDCH historically traded about 2.5X MDMN share price. Once this reduction to MDMN shares has been done, the 0.558 per share conversion can be applied. It is not a pretty comparison, so my MDMN shares are in the sock drawer. Also, Fidelity does not allow purchase of MDMN from a retirement account where most of my āinvestmentā is held. I was relatively āluckyā in that initially I had equal dollar amounts in CDCH and MDMN.
Iāll fess up to selling 100 shares of AUMC yesterday at a buck simply as a āmarkerā to alert me when to start looking at this again. Since I donāt use/have level II, Iāll ask how many shares sold at $1 yesterday? I had placed that offer at least six months ago, or longer, because it has relevance to me. That is the AUMC price I believe AUMC must attain and sustain before divy shares are distributed. I donāt know this for sure, but I suspect it is true. I actually am hoping that AUMC shares sustain a $3/share price so that many MDMN share holders can recoop some value AFTER a distribution occurs. I also believe that would kick-start AUMC to much higher visibility and attain multiples of the AUMC price that any conversion takes place at.
This may be quite an overestimate on a comparative rather than actual basis, depending on how you do the math. ($300,000 X 0.00558 = $1740 X 2.5 = $4350). Of course, AUMC shares shares could comparatively be more valuable than that CDCH historical factor of 2.5. There is little doubt in my mind that, although at only a trickle, AUMC shares have been getting accumulated by some entity that looks at things analytically.
One of the very few things that worked out in my favor (for the time being) with this investment.
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Hmmmm ā¦ 6 million shares volume today aināt that bad, but one does have to wonder why SOOOOO much volume yesterday. Maybe Mike is right - people moving into gold plays from crypto.
Nice to see the volume but my guess is that one of the old market makers from the past was flattening out legacy NSS holdings. There are several laws coming into place later this month that are going to royally screw some bad actors who abused many micro-cap stocks over the past 2 decades and, for the handful that are still trading, even on vapor (like MDMN) the books need to be balanced. Iām sure many here have noticed the 100ās of shell companies that have ripped on 100ās of millions of shares over the past few months absent any fundamental drivers.
Iād argue that MDMN is no exception. The company is on a shoe string budget so any monumental developments are going to take tiiiiiiime. We know that they hadnāt even generated revenues let alone profits as of the latest financials so what would create some buyer to aggressively accumulate shares? Is there some drill program that Iām not aware of? Maybe the tolled their first ounce of gold?
Additionally, AUMC is the only price that matters at this point. Unless it starts to move on large, sustainable volume, these short-term pops are most likely technical in natureā¦and fleeting.
Just my opinion
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I generally agree. Both were bought yesterday. At the one point yesterday afternoon when I looked there was a 70,000 share bid at $0.56 (I think) for AUMC, which is still small potatoes, but the spread was $0.56 / $0.95. You couldnāt get anymore shares without driving AUMC over $1. So someone bought both.
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I sold shares yesterday as well. Presently I am not inclined to be buying them back at a lower price which I can do now. Since these shares are in my IRA I have no tax write off concerns. Will you be buying back shares if the price is right? Thanks for your feedbackā¦
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I donāt think so, though it is tempting given the price has more than halved since I sold. Iāve been trading biotechs for the past couple of years now and have found more success in that space than holding long on stocks where Iām way ahead of the curve (or so I think). Iād prefer to swing-trade stocks that offer me better visibility and a shorter time horizon. And one thing Iāve definitely learned from the volatility in biotechs is to take profits and not be greedy. That is why I didnāt even hesitate to sell yesterday when I saw the spike in MDMN. There are only a few stocks that I hold for the long term, but I trade around a core position with those.
Iām not bearish on Medinah and there seems to be a compelling case for price appreciation in the near term, Iām just tapping out and putting my money to work where Iām more comfortable. I want more than anything for the stock to do well so that everyone who has suffered all these years has an opportunity to make back their losses and maybe even bank a few bucks too.
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Thanks for your feedback. I feel the same way. I was happy to sell half my position at .007. Perhaps if it dips below .003 again I might grab a few more. I will be probably tempted to sell the other half if it runs again. Enough is enoughā¦
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