The Mining Play

Medinah Minerals (MDMN) - 2016-Q1 - General Discussion


#683

Any drilling going on at this time? I admit I haven’t been paying much attention :wink:


#684

If I win the powerball why in the world would I want or need to buy more shares??? I’m not a masochist!!! :wink:


#685

Yes. They started drilling I think some time in the beginning of December…drilled 3 or 4 holes, paused for the holidays and were to start back up in early January. They are drilling the Caren vein; relatively shallow holes. Of course, we need an update from Auryn to verify this as the rumors about their activities rarely match completely.


#686

Mike - may want to check on that drilling rumor. I don’t think they ever got started per LP secondhand.


#687

Where did you think the rumors came from to begin with?


#688

To put it in Louie DePalma terms, the US dollar stinks, but it’s the least stinkiest turd in the toilet. :frowning:


#689

Of course, but these are later than those. :slight_smile: You know how different people hear different things when they talk to LP.


#690

That is so true about the dollar and it will probably the last currency to fall and flight from the order currencies into the dollar will keep it propped up for the time being… JMO


#691

Interesting, there is about 700,000 shares so far bought at .017 ask and someone keeps selling at that ask price.


#692

Ouch…you know the golden rule…if anything coming out of Les’ mouth is negative, you can count on it being 100% accurate…Lespeak 101…sounds like the Mule wants to go a few more rounds despite the ramifications.


#693

$HUI index (major / mid-tier PM producers) just broke to yet another 14 year low (back to 2002). The GDX is right at its all time low (shorter life-span for this index).


#694

BE, what is wrong with you today, calling Juan a mule?
I would say that he resembles a different variety of a horse ,such as an obstinate ass :angry:
It is about time for Juan to honour the contract he previously entered into with Auryn. I am surprised that Auryn has not successfully legally forced Juan to pass over his shares. But I am sure it is a very complicated issue to resolve, especially with the likes of Juan.


#695

LEVEL 2 please.

Thanks,
Rod


#696

Doesn’t surprise me one bit about JJ. He is all about numero uno. Unfortunately the show will go on without him and he is just going to come out looking more like an ass then ever if that is even possible.

I expect them to talk about the share issue and give JJ one last chance to deliver what he promised. If he stays stubborn look for plan B which will be any avenue possible to take JJ out of the picture indefinitely.


#697

What is Auryn going to do in order to get JJ out of control of CDCH Chile? Will it be addressed this week?


#698

With the way the Chilean legal system is(for sure Juan knows it very well), it is doubtful that Juan will be forced to cough up his shares during the duration of the JV with Auryn. Rather, it now appears probable to me that Juan knows that giving up his shares will result in Auryn gaining control of Medinah. It is likely he would rather not see this happen until everything on the mountain has been decided such as production splits, the placer claims at the base of the mountain and how the Cerro claims are handled perhaps. Auryn will likely just work around this by obtaining the necessary shares elsewhere. In fact, it may be cheaper to go into the market than pay the premium price that Juan would have gotten if he had completed the agreement. It does appear that Auryn simply needs to put out their Corporate Update before they resume some aggressive accumulation of Medinah shares once again. (Note-it is even possible that Medinah itself is secretly pleased that Juan is being stubborn as giving up control too soon could be risky.)


#699

JJ’s lack of willingness to “cough up his shares” for 6 plus months has already created the majority of technical damage (as we struggle to get above 2 cents). To do so now would be helpful but less impactful had things moved forward in a professional manner at the onset. The bigger question now: will Auryn still make a play for control if they haven’t been able to already secure 300-400M shares? Yes, I know Les has claimed that the Letts have been buying in the open market over the past year (false) and is claiming the same moving forward. Clearly neither he nor we know the answer to this question. Auryn will NOT buy in the open market unless they are convinced they can acquire 750M shares at a reasonable price. IMHO


#700

It’s possible. Even probable.


#701


#702

I do agree that the damage from Juan holding on to his shares has been already done.

I think Auryn will have no problem scooping up another 200 to 300 hundred million shares at an average price of no more than 5 cents to gain control of Medinah.(i.e. very likely lower than what they were paying Juan) What they do after that is debatable.