The Mining Play

MDMN - 2016-04-04 Weekly Discussion

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Oops. Sorry! No murderer here. Just a broke mdmn shareholder

Isn’t John a name?

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Thanks John~All of us owe you a drink (even if some don’t realize it)

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Back by Popular Demand!
I repost one of my favorites from past episodes reminiscent of a multitude of recent posts (just a general comment not really directed to any one poster - entertainment only - enjoy!):


Let’s wait for news on the MOU signing and completion before throwing something up on the forum to see what sticks. Perhaps the MOU will actually be released in it’s entirety after it is finalized.

Baldy,

I’m actually hoping you have a plan. If there is anything I can do to help, let me know. I’ll gladly help if it means we can change things around here. Thanks again for watching out for our cdch common shares as well. I think that some have forgotten around here that you are one of the few who has actually “acted” and not simply pontificated.

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It remains to be seen if CDCH shareholders will recover from past misdeeds of JJ and Les. Only time and disclosure will reveal if shareholders will see a ROI. After many years of a company in financial distress, due largely to long years of mismanagement and lack of disclosure, AURYN may finally provide a fair profit to shareholders in due time.

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So no one has any nominees, candidates, volunteers, warm bodies then? Even someone in mind if you can’t name names? OK, Say we take action and vote them out, but then what’s the plan to replace them?
It’s not a mantra of “no other option”, it’s a question of WHAT other option…
“Throw the bums out” policy has never been a solution and often times detrimental if there is not someone qualified, ready, and better, to replace them with.

Regarding BOD issues.

I’d like to offer a suggestion. Stop posting about it for now and know that there are people with level heads and hundreds of millions of shares having discussions about this. Emotion laden public postings are not helpful to the cause on either side – for or against.

I posted the following a couple of days ago.

Hopefully the current BOD understands the level of angst and distrust between a large portion of the shareholder base and the BOD. Regardless of whether the false starts, erroneous press releases, and massive dilution were because of JJ or not, they were done on the BOD’s watch. Add to that the connectedness of AMNP, Medinah Gold, NUOCO and the lack of transparency in all the communications and 3rd party deals and there is mutual distrust.

It would be nice if we (shareholders and the current BOD) can work amicably toward putting together a mutually acceptable shareholder friendly / trusted BOD after this deal is closed. The directive from shareholders to the new BOD would be as follows:

     i.      Lean management structure
    ii.      Low cost operation
   iii.      Limited dilution
    iv.      Payment of dividends mandatory

I believe this result is possible without any “blood being drawn”, “legal battles”, etc. The main problems (bifurcated ownership of the ADL and JJ in control of MDMN’s side) have been resolved.

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Just need this PPS to start moving north already. I am not looking for this to shoot like a rocket but for god’s sakes we are closing a deal finally and with a good partner so the PPS should begin to gain on this. Only problem is there is an asswipe with unlimited shares always shitty on any gain! start looking at that instead of removing BOD and short squeezes. where are these shares coming from…

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I fully agree with this!!

John,

What do you suggest? Specifically? pm works.

george

How much were those yearly fees to preserve our claims on the mountain? Hundreds of thousands of dollars? Exactly Who has been paying these fees all these years? Bald Eagle? Oh, now I understand why he’s upset - he has been putting HIS money on the line for a pink sheet stock that could possibly go nowhere. Not.

As I have said, I am no apologist for management, but the ones who take the risk are the ones who deserve to be rewarded - unless of course you’re communist.

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To Wiz’s point this isn’t the right forum for this type of discussion (for multiple reasons). To be clear, this isn’t something that I’m taking the lead on. Not even close. But, if the existing BOD remains, I’m a seller of MDMN at these levels. Rolling a portion of the proceeds into CDCH where there is a more simplistic pathway to a BOD with minimal burn and essentially the same ownership of AMC.

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You may not be an apologist but you certainly ain’t bright. The common shareholder took more risk than management ever did. When you bought shares were you given a 10% compounding interest rate that was later converted for ten’s of times your original investment? Me neither, but as an owner of shares you directly financed the company and yet, unlike management, you received dilution while the BOD increased their ownership (dramatically). These are very basic concepts that as an “accountant” you should be able to understand.

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Wow what a waste the majority of yesterdays and today’s posts totally useless.

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Great questions. Do you know the answers to those? ::: that’s rhetorical because I know you don’t :::

You should though. It’s a public company. Here are some more questions.

How was the money raised to pay for those? Cash loans? Shares (free or restricted?) Private placements? Who negotiated the terms of the private placements? Were all the participants vetted as qualified investors? Were competitive bids sought? Were the bills paid on time or did MDMN continually over pay because they were not paid on time?

I’m not saying that all of the above have improper or detrimental answers. But it would be nice to know them since it is a public company.

I know Greg Chapin has fronted a lot of cash to the company over the years. Thank you, Greg! It says in the financials that terms have not been set yet. He needs to be reimbursed appropriately.

I do feel the terms that insiders received on their debt were onerous and had they been completely above board on everything that was going on and sought the help of shareholders, we all would have been better off. It was not explained or handled properly at the shareholder meeting in Vegas when those terms were settled. My opinion, of course, is subjective, conjecture and is certainly open to disagreement. We’ll never know the answer so it’s irrelevant at this point.

But how we move forward is not irrelevant. I believe a new way of operating and interacting with the shareholders is appropriate. MDMN can no longer be run like it’s private with one or two shareholders contacting Les Price and getting and decimating rumors with no accountability for their accuracy or lack thereof (either from LP, or from the interpreting party.)

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I thought you are supposed to be some kind of “expert”.

Name ONE stock you have invested in wherein you received (for doing nothing aside from investing) 10’s of times the number of shares back. I know you think you are “entitled”, but you are NOT. This is the way penny stocks go. I have been involved with penny stocks with FAR worse circumstances than what we have been dealt. Grow up and get over it. Nobody is giving these men a ticket to steal - you will learn that the hard way. Make sure you show up to the AGM.

Money talks. You did nothing, absolutely nothing, as uneverknow said above. You are a “do-nothing”.

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I’ll offer a small but telling example of how your comment sounds good but we can not trust the BOD to abide by it as a two way street.

I, and many other, have a desk drawer that contains a file titled “Medinah Gold Certificates”. It’s been in my desk for over 10 years. Waiting for a time when it might have some potential value. As best I can understand it, the BOD worked a deal that insured that my cert’s would remain worthless while they dealt themselves cards under the table that allowed their shares to move into another company where there is a chance of a future profit for them, but never for me or others. If they can do that deal, that cuts everyone but themselves and/or their friends out of some potential value for shares of Medinah Gold, why should I offer them my trust that they will do the right thing going forward with MDMN?

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