Still $100,000,000 USD and 15%. Sounds good to me! Also acknowledging the greater value of the 15%. Nice attention getter. I am in for the long haul, with dividends.
it was a good update reiterating what we all expected from the mountain and why I have been in this investment for 18 years. I would have liked to hear about how we are going to benefit from mining taking place on our claims. moo
Put this in the vancouver mill category until you see it publicly announced. I don’t know how accurate it is.
MDMN gets
20% of what comes from NUOCO claims
30% of what comes from ADL claims
5% of what comes from Caren claims
5% of what comes from Fortuna claims
My assumption on those percentages is that it’s after shipping and milling expenses. We’ll see.
AMC owns all of the above claims except for the ADL. Per one of AMC’s latest updates they will use early production revenues to supplement their exercise of the $100 million option.
The longer it takes for AMC to exercise the option, the better it is for MDMN. Once AMC exercises the option MDMN will be subject to cash calls for development costs. Until then we just share in the revenue stream and don’t risk dilution of our AMC equity or having to spend down from the $100 million cash option.
Also I heard secondhand that they valued AMC at $180 million and gave up 5% each to NUOCO and CDCH. MDMN ought not to give away cash from the $100 million for more equity unless we’re given the same valuation of AMC equity that was given to NUOCO and CDCH.
Newleaf, you are absolutely correct, it’s a great confirmation but it’s not gonna do anything for the share price because it’s a statement of future intentions and not a statement of executed intentions and Medinah has a track record of the former and not that many of the latter…
I had reason to be in Sandy Utah over the weekend, which is just South of Salt Lake City. I looked across the valley and saw the terraced waste tailings of Bingham (Kennecott) Copper Mine. It seemed very very close. On google maps it ended up being 27 kilometers but it looked like it was right next door. How far is the Altos de Lipangue from Santiago?
I think it is great that Medinah took the initiative and released this update on their own, without following Auryn’s lead. Let’s just hope it turns into a wire release, as opposed to just a web site shareholder’s update…
You have now officially lost me. I can’t keep up with the points you are trying to make but, unless you’re trying to convince yourself, just assume you’re right and be happy with the status of your investment. I am.
This almost makes it sound like Medinah has intentions of surviving as a dividend paying company for the entire life of the mine properties. Did I miss something?