MDMN - 2016-04-04 Weekly Discussion

Uneverknow, best answer I can provide, is compare to the two releases, there a several differences on key points, e.g. subject to negotiations, timing of eliminations of all conditions (cap on issuances), future 5% option price… Not to mention FCI on production revenues.

Depends on who to believe. I think once the deal is signed, the real deal points will quickly become apparent.

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If the CAP issuance’s gets lifted who’s to say that Les or anybody on the BOD will not keep stealing from the cookie jar and diluting us to oblivion?

Back to Wiz comment to my question Auryn Control that right there will be our Savior but if Medinah is still around we might keep facing what we faced before Auryn capped us Dilution Dilution Dilution. Or am I wrong?.

I welcome a TO sooner rather than later

Andy, I have no answer. All I can say is, that as part of the pending deal with Auryn, they paid the claims payment of $500k. My guess is that the folks who lend money to MDMN are getting converible notes, that convert at the standard 50% discount, so that saved MDMN $1 million of dilution or 67 million shares.

My approach is buckle the seat belt, hang on the ride for the next 2 months, and evaluate. I sincerely believe that we won’t be trading below today’s share price.

But what do I know, I am a small shareholer.

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I hate to be the bearer of bad news, but I disagree. The company risk is still too high. It needs to be properly fixed.

Exactly. The ink being dry doesn’t prevent MDMN from doing crazy things with distributions from AMC. It doesn’t prevent them from issuing another billion shares. Until those things are dealt with you will have a disconnect.

Personally, I don’t think any of those things are likely to happen, but I’m generous in my view toward the current BOD managing company affairs appropriately from this point forward. The big money people it’s going to take to buy millions and millions of shares to move the price have fiduciary responsibilities are much less generous in their view.

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We’re free to disagree. :smile:

There’s a reason your friend hasn’t put $3 million in. People with a lot of money or who have a fiduciary responsibility for someone else’s money don’t think the way you do. :wink:

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We as in shareholders? Or we as in BOD?

An Open Letter To:

Aquiles Alegria - David Bent - Luciano Matias Bocanegra - Mario Arancibia Nanjari - Felipe Andres - Astudillo Rojas - Enrique Lopez Albujar - Italo Volante - Patricia del Carmen Opazo - Aquiles Alegria - Katherine Narea Cavieres

Thank you very much for your work and dedication in providing the technical support to the ongoing efforts on the mountain in Chile. Auryn has assembled a pretty impressive team of professions. With the recent memorandum of understanding between Medinah and Auryn I, as a Medinah shareholder, feel a greater sense of pride in you and your qualifications.

Along with my note of appreciation I want to also state the obvious. As you uncover the jewels hidden within the mountain – you can participate in those riches along with your employer by purchasing stock in Medinah. Unlike Auryn, Medinah is a publically traded company and will eventually reflect its proportionate share of the wealth you are discovering. You probably should consult with legal professionals on when the appropriate times will present themselves for you to enter the market.

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Try this… He was HANDED his shares, and it was to his benefit to promote (Yes Les is a promoter!) them. HE also was on the inside, so HE had a much better view on reality than we common shareholders had.

Is that motivation enough?

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On a side note, day before yesterday someone put up 2.5 million shares on the ask. At the end of that day 1.86 million shares remained unsold. Yesterday at 11:00 EST that person/group put up 1.86 million shares for sale at the ask. At the end of the day 1.82 million shares remained. Today at 11:00 EST that person/group put the remaining 1.82 million shares for sale at the ask. Unfortunately, everytime this amount hits the ask the other sellers jump under it and the ask continues to fall.

Looks like they plan on selling them. I wish I had the money to help them out.

geofear, if you’ve ever serve on a BOD, then you know the legal exposure one has for doing so. These gentlemen DESERVE to be compensated for their time and services. So, he was NOT “handed” his shares. Yes, I would assume Les has had a better view of things than we do - that’s the way it works.

I guess your point is that Les LIED to shareholders in order to make the share price go up so that he, as a shareholder, would benefit from the appreciation of the price? How’s that worked out for you?

He never said It was a great plan. One could argue that all the deception and mistruths from Les over the years created enormous distrust and hence price erosion. That doesn’t mean Les wasn’t trying to prop up the PPS.

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Deserve to be compensated? Yes.

Deserve to be overcompensated? No

And overcompensation is EXACTLY what has happened for many, many ,many years.

And frankly, the term Board of Director is a gross stretch by any imagination. It’s not like our esteemed crew was working hard on any regular basis and they were never held accountable for their multiple bad decisions yet they got compensated anyway. If these guys were sitting on a board of any real company they would have been ousted many years ago and probably would be facing litigation for failure to perform the fiduciary duties of a BOD.

But if I can get myself elected and compensate myself as richly as they have for copy and paste jobs please tell me where to sign up.

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Oh, so you (and he) believe Les promoted the stock just to get people he does not really know to buy it in order to cause damage to them and just for the sport of it?

I think you and others had better think this through very closely before you leap. Something tells me management is loaded for bear.

Could it be that Les, out of the goodness of his heart, was simply making an effort to give shareholders confidence good things were coming? That is the reason shareholders initiated contact with him, right? If Les was a shareholder, would you expect him to say the sky is falling? Would you expect him to not talk to you?

Believe it or not I am no apologist for management. However, I have been personally involved in enough of these cases to know that things are not always as they seem on the outside looking in. Maybe you ought to draw up your indictment and present it at the shareholders meeting to we can all discuss it face-to-face. That would be the courageous/right thing to do. Will you? I’m thinking not.

“I think you and others had better think this through very closely before you leap. Something tells me management is loaded for bear.”

Something tells me Les would want nothing to do with disclosure.

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In my experience with pinks, emotion/greed seemed to play a big part in the quick rise (and then fall) of a penny stock, and I’ve been burned because I didn’t sell on the way up and then couldn’t get out on the way back down. Now that this deal is almost reality, I would think there’s gonna be an irrational, emotional “I gotta buy this stock before I miss out mentality” run by ALOT of people out there. Any thoughts?

Vark

This board has turned into something a little smarter than IHUB Getting close though and that doesn’t mean IHUB is improving

Has there ever been agenda items brought up at a SHM by shareholders? I don’t know the exact process, but I’m quite sure only certificate holders can even propose agenda items. Personally, I only have street shares. My few email requests over the years have gone unheeded. Are there really still 3,293 shareholders of record? If so, a few could start formally writing the BOD and go through the formal process of adding desired agenda items to be voted on. The proposals I would like to see brought up are that the current BOD will order a NOBO/OBO list, engage Broadridge for proxy voting prior to the next SHM in order to ensure a real shareholder vote, and openly communicate with shareholders prior to any meeting. Common shareholders should be allowed a process to propose agenda items before the GSM (ASM, or SHM - whatever it is to be called), including a vote for shareholder BOD representation and a freeze on future property “investments”. Reducing the current BOD compensation as well as a reduction in the current Authorized Share level of 3,000,000,000 is a must. I’m sure others here would have additional requests, but just talking about it here on the forum will not produce the desired results.

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