The Mining Play

MDMN - 2016-04-04 Weekly Discussion


#318

4/7/16

15:59:31 Buy-162,566
Sell-822,814 Most at the bid


#319

User name checks out


#320

Once the MOU is official there is not much the BOD has to do. Compensation should be minimal. Non Gratis IMO. They have been compensated enough. They no longer must pay claim expenses, which is the biggest nut. Normal operating expenses can be drastically reduced with a little common sense. Expect some dilution. I have suggested, post MOU, full disclosure of all planned 2016 expenses, including compensation, and a plan to pay for those expenses via a loan on future production or dilution with a pledge to buy back shares. There are smart minds on this board that have management’s ears who could develop a solid business plan. The current BOD isn’t going away. Perhaps we can direct our energy and business savvy to help them make better decisions rather than taking a path that has little or no chance to succeed…JAS…


#321

This post was flagged by the community and is temporarily hidden.


#322

Good luck with that.


#323

This post was flagged by the community and is temporarily hidden.


#324

I read these comments along with those from Cabezon and can only shake my head. The reason why this investment has been such a trainwreck is because many of the long-term shareholders have taken a “defenseless position” as powerless common shareholders while insiders have diluted the sheet out of the company. Even worse, many of these shareholders have stuck up for seemingly obvious abuses along the way. Inexcusable IMO.

Why spend your energy and time on “papers” describing the unlimited upside of the mountain while you’re percentage of the mountain drifts away? One very simple example of how shareholders can actually make a difference was when it was discovered that Chapin’s brother was taking millions of shares for a virtual office. Or how about the ridiculous liabilities that CDCH had supposedly accrued over the years? They were reduced significantly. JJ’s claim that he owned 50% of CDCH through CDCH Chile? Gone.

If the collective shareholder base “sacked up” we can, and will, prevent these crooks from further diluting this investment. Because Les and JJ/Claro have sold so many shares, they have lost controlling interest, and the shareholders who actually have the fortitude and number of shares to change the status quo are going to step up.

This existing BOD is a group of legacy puppets and insanely unethical “managers.” The “we have no other option” mantra is not only lazy but highly destructive to the potential positive momentum of this investment.


#325

Wow great plan uneven know are u a BOD? If we have to give advise to our BOD, we are in trouble. Why can’t they retire into the sunset are they that more greedy?


#327

“and the shareholders who actually have the fortitude and number of shares to change the status quo are going to step up.”

You’ve been talking about this for quite some time. What are you waiting for? Go for it. I can’t wait to see the results.


#328

How specifically do when end this madness and prevent this from happening again. If we are going to dilute. Can’t we sell a percentage of something to get enough money’s to pay ourselves a dividend to figure out how many legit shares we have and exactly how many shareholders and how many shares are BOD have? Is that possible or is there another way.


#329

And why would they get to vote the street shares slick?


#330

like I said…“lazy, defenseless shareholders” have contributed to where we are today…hopefully, a more proactive shareholder base will improve our prospects moving forward…you are clearly not going to be part of that effort b/c you believe that insiders owning less than 20% of the company have some sort of iron-clad immunity. You should hope, for your sake, that you’re wrong. Otherwise 1.5 cents is going to be looking very attractive to where we could trade in the future.


#331

Back to my original point. Since there seems to be no up front money Medinah needs to operate on a shoestring. I was told how much the shareholder meeting would cost the company. I was floored by the amount. One can rent a very popular and professional meeting room in LV that holds 1500. Throw in some necessities the price is max 5k per day. Since shareholders attend on their own dime, so should the BOD’s. That saves 30k. It’s a start.


#332

John.

Call me and others all the names you want. Prove it. I dare you to try.

Good luck. Notice I responded without calling names. You should learn from it.


#333

Like I said. If you believe the existing BOD will remain and still stay invested in this stock there are a lot of “names” I could call you but smart wouldn’t be one of them.


#334

Like I said…so far… all talk and no action. Action speaks louder than words.
I’ll say it again. I dare you to try. Keep us posted.


#335

What specific action can shareholders take to replace the present BOD? I do not recommend anyone getting their shares in certificate form. I did it for 2012 agm to show at the door. They only checked brokerage statements and it took me 4 months to get the certificate shares back in my etrade account. Huge hassle!


#336

KBK…Ask Baldy…He seems to have a plan But has yet to act on it.


#337

#338

Doc has been talking about getting some type of monies on any of these deals for years to try and determine whether we would experience a short squeeze from naked shorting but I believe the BOD don’t want cash because it might end the viscous cycle of dilution.