Announcement of how much they bought JJ’s shares that would move the SP like a sling shot to the price they paid for them but we are not that lucky yet. I believe that Auryn has different plans for now than SP movement but it will come you can be sure of that just a matter of time doesn’t happen when we want it to happen.
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Two Months.
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Most definitely !!!
TDK
Great idea to go see Gary. I, and I’m sure most others on MP would appreciate your observations and assement concerning his vision, plan and expectations for the next year & beyond.
Thanks for all you do Mike!
I’m not sure what the personal share count requirement is to be considered a large shareholder but I’m personally pleased with the actions of MASGLAS/AMC to this point in time. As long as they continue their current trend they will have my continued support.
Production. Profits to the bottom line. Maybe even a dividend at some point. But definitely production and profits to the bottom line.
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Kevin. We didn’t really have a choice. If the $100M was on the table than you’d have to be insane to be “in favor” of getting more equity vs. an upfront payment but it wasn’t on the table so we have to make the most of the outcome we got. Can’t really blame Masglas for taking advantage of the situation and restructuring the deal b/c MDMN had no leverage as the BOD at the time was always one move behind.
Hard to complain about finally getting the crooks off the bus and a group of competent players to replace them but don’t underestimate the cost. We are trading at 1.5 cents b/c we gave up 100% of our assets in exchange for 25% of another entity that now owns our assets. Again, we really didn’t have a choice b/c the existing situation was intolerable but let’s not sugar coat things. There was a deal in place and it was thrown in the trash and shareholders suffered significantly in the process.
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Baldy, I agree with many of your thoughts, if cash were on the table, anyone would be insane not to take it and run. JMO, there never was $100 million cash component, I call it a place holder/window dressing for management to save face.
But I still contend that under the old team, we would still be playing the claim swap game with JJ’s claims and not a dime of exploration being done. Not to mention the continued dilution.
Besides not getting cash upfront, the worst part of this deal is that JJ/family and Les all had a liquidity event while shareholders have to wait.
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If you are sure of this then please provide the proof so that the rest of us can be as “sure” as you are. Otherwise, shall we just consider you as this sites new Chief person in charge of unfounded rumors and propaganda development?
John, I am fully aware of the cost. Not sugar coating anything. I’m also fully aware of how bad things were. I’m thankful we have 25% of something rather than 100% of nothing but the JJ/LP show. It remained worthless for years other than to pay their living expenses and provide traders who were in tune with what was going on to make money, imo.
Unfortunately, I was not one of those due to my ignorance. Sadly, everyone here who has any position of a size larger than they want at an average higher than today’s price fits that to some extent.
What @mdmnholder said…
But I still contend that under the old team, we would still be playing the claim swap game with JJ’s claims and not a dime of exploration being done. Not to mention the continued dilution.
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The constant rehashing of mdmn past is off the charts and I really question some motives of those doing it.
Many of you rehashers sound a lot like IHUB Bashers
I’m not pleased with the past but unless your going to really do something about it, I wish you’d STFU and move on by either selling or promoting the new mdmn
The constant bitching is destroyIng confidence of investors reading
Is this a game being played?
Some don’t appear to want mdmn to gain momentum
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I don’t think anybody, with the exception of Brecciaboy and Baboon, would disagree with this point. Onward and upward.
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However, I will say this: Many of you know that I am looking for financing to put a small gold mine through permitting and production. It is low grade and approximately 100k oz. au. But is very low cost.
With the rise in metal prices, the number of dormant projects have burst on to the scene, and everyone is out there looking to get financing.
For small or marginal projects, there is limited money, but the offers are "give us the project, we will use our own management, and you can get 5% of stock, maybe.
The fact that Medinah, with all its warts, was able to attract a quality team with capital, willing to fork over 25% is extremely fortunate.
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My opinion, chalk that up to the benevolence of MASGLAS. I realize others don’t see it that way, but it remains true. Even today, MASGLAS could simply say all partners pay their share of development costs from now on going forward. Good luck raising that money.
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Another notch toward the TO theory…
MASGLAS, a significant Medinah shareholder, will work in concert with Mr. Goodin to accomplish a comprehensive analysis of Medinah’s books and records to ensure the continued integrity of Medinah’s financial statements. During this process all of Medinah’s assets and liabilities will be scrutinized in detail. The goal of this effort is to improve the effectiveness with which Medinah communicates its results and financial condition to the investment community and the mining industry.
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I would agree. Most companies will come in a due a duediligants before they make a offer. I don’t believe we will even need a shareholders meeting in October. JMO
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At least $50 or $25 Milllion. To me it was a huge mistake, taken to the cleaners …
But not we have clean clothes to wait in!!!
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What do we need to have a green day or week? And there was no “wire” release, where I feel there should have been. FRUSTRATING!!!