The Mining Play

Medinah Minerals (MDMN) - 2016 Q3 - General Discussion (recovered)

Happy 4th of July to all! I’m starting a new general discussion thread for 2016 Q3.

Also, as a heads up, I’ll be unavailable for the next couple of weeks. Please be nice to the moderators!

A big thanks to @cabezon, @GCCapitol, and @newleaf. Also, @Hurricane_Rick will be helping out too if there are any technical issues on the forum while I’m away.

And thank you again to those of you who occasionally find a relevant sponsor ad. It keeps the lights on.

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07/05/2016… Looking forward to seeing how this looks the first of Q4.

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Sure, I think it’s very good news. Permitting issues are part of why the statistical chances of success in this sector are so distant. They relate to both the 1-in-1,000 to 1-in-10,000 often cited chances for a junior explorer to not only make a discovery but get it into production as well as why it takes so incredibly long to go from the commencement of exploration into production for the juniors fortunate enough to make a discovery. Permitting can literally take decades if you’re operating in an environmentally sensitive area.

ONCE INITIALLY PERMITTED, then the chances that the authorities will regularly bump up your allowable tons of production per month are excellent if you behave in an environmentally responsible manner.

AMC/Medinah now have 2 separate areas permitted at 5,000 TPM each. Permit #3 will probably be at the 400 ha parcel that recently got its baseline environmental studies approved by the authorities. This is the planned open pit exploitation of the Merlin 3, Fortuna Oeste and Fortuna Central Vein systems. Permit #4 has already been applied for and is in process.

All of these milestones being reached are part of the DERISKING process. As the RISK goes down the VALUE goes up. Although “the market” doesn’t seem to want to react to any of these positive developments I think the industry professionals sure notice them. The fact that Medinah has a more generous 36.25% stake in an already PERMITTED group of concessions should bode well for Medinah whether they wanted to sell a portion of this stake or reap rewards from production. I’m not sure whether or not the receipt of the permitting has moved this area up on AMC’s list of which area to attack when.

The math gets a little complex but Medinah basically owns a 25% stake in three-fourths of the mining district. They own a 36.25% stake in the 2,450 ha Nuoco group of concessions which represents about one-fourth of the district. AMC only bought the 85% stake in Nuoco held by the founders of Nuoco. Medinah did not sell its 15% Nuoco stake perhaps because they sensed a pop in its value after the permitting came through. In essence, Medinah owns 28% of “the action” at the mining district if you take it as a whole.

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ABOUT US
AURYN Mining Chile SpA (AURYN) is a privately owned company presently exploring the promising Altos de Lipangue historical mining district located approximately 30 kilometers northwest of Santiago, Chile.

AURYN now owns and controls over 10,500 hectares of mining claims at the Altos de Lipangue Area.

AURYN shareholders are the following:

MASGLAS, 65%
Medinah Minerals Inc., 25%
Cerro Dorado Inc., 5%
Private individuals, 5%
MASGLAS, www.masglas.com our parent company, directly owns over 20% of common stock of Medinah Minerals Inc. (MDMN OTCBB-Pink) aurynmining.com/auryn-mining-chile-spa-auryn-or-the-company-or-amc/

AURYN, has an interest equal to or greater than 85% in the following mining companies: NOUCO Mining Chile and Minera Mantos Azules Chile. These companies hold mining claims within the Altos de Lipangue mining district. Each one of these companies hold exploitation permits.

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Yikes…Lots of selling this morning…

Gold is now at $1354 per oz.

Any update on when our partner may go public?

Where did both statements come from?

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No one touching this stock, too complicated I guess. Need production and POG to $2000 to leverage the dilution. All we have hope for in the time being. Audit of the books may be a huge weight on our shoulders, and the uncertainty around it.
Will this nightmare be turned around by AMC?
TDK

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‘I’ll gladly pay you tomorrow for a hamburger today.’ J. Wellington Wimpy

I touched on this yesterday. This bizarre notion that AMC is going to provide MDMN with near term liquidity to buyback shares has no basis in reality. If they wanted to use $10M to take advantage of any perceived disconnect (assuming there currently is one) AMC would buy shares in the open market and dramatically increase their position. Most likely getting them above 50%. AMC isn’t going to do anything that gives MDMN leverage or greater returns than what they can receive through their own actions. They aren’t running a charity.

I think it’s safe to assume that AMC is slowly buying shares at this level b/c they think 1.5 cents if fair value today. We can also assume they will be willing to pay higher prices as that value increases and they have the best visibility on when that will happen.

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hmm i am guessing the nightmare just continues till we actually have production!

Medinah now has a new website:

From FB:

The email content below was sent to our email list subscribers earlier this afternoon. If you’re not subscribing, do so on our new website @ http://medinah-minerals.com/
Some of you may still see our placeholder website. It may take 24-48 hours for changes to propagate throughout the Web.
***** The Email Below *****
Introducing the New Medinah Minerals, Inc.
Thank you for subscribing to the Medinah Minerals, Inc. email list! Let us be the first to welcome you to our new website at http://medinah-minerals.com/
Along with the OTCMarkets page, the website is where you can find official company news releases, financial statements, project plans, and shareholder updates. We will notify our email list subscribers shortly after we make any posts of this nature to our website.
Along with communicating with our shareholders via our website, we will use social media. Social media updates are generally more frequent and less substantive than website changes. Nevertheless, they are important to those shareholders who like to be continually informed about their investment and related industry information.
Social media users should follow us on twitter and facebook.
Submitted on Behalf of the Board of Directors of Medinah Minerals, Inc.
Copyright © 2016 Medinah Minerals, Inc., All rights reserved.
You are receiving this email because you opted in to shareholder notifications at our website.

For those of you who can’t view the new website yet-here is some of it:
Business Description
Medinah Minerals (MEDINAH) (OTC Pink: MDMN) is a publicly traded company. At this time MEDINAH is primarily a holding company. Our primary assets include:
a 25% equity position (25,000,000 shares) in the private company, AURYN Mining Chile SpA (AURYN).
a 5 year option to purchase 5,000,000 shares from AURYN for $50,000,000.00 US, and
a 15% equity position in NUOCO, a private company of which AURYN owns the remaining 85%.
AURYN is the owner of the Altos de Lipangue (ADL) project, comprising over 10,500 hectares. The ADL is adjacent to Lampa, Chile and about 30 kilometers northwest of Santiago, Chile. MASGLAS, AURYN’s parent company has an executive summary of the ADL Project and further details can be found on AURYN’s page.

Brief History
Prior to owning shares in AURYN, MEDINAH was an owner of several of the mining claims that were part of the ADL. For a number of reasons, including multiple owners of ADL claims, the former management team of MEDINAH was unable to significantly advance the exploration and development of the claims it had a partial interest in.
With the assistance of AURYN, MEDINAH secured 100% ownership of its claims in October of 2013. Subsequently the former management team continued to work with AURYN and recently closed a sales agreement that allowed AURYN to consolidate the entire ADL mining district and provided MEDINAH shareholders with a 25% equity stake in AURYN Mining Chile SpA.

Key ADL Project Points
Over 10,500 hectares with many excellent exploration targets
Mine preparation underway for exploitation of the Caren-Merlin high grade gold veins with production estimates of:
5,000 troy ounces in 2016
25,000 troy ounces in 2017
Fully financed operation through MASGLAS
Expectation to be cash flow positive in 2016

A New Direction
At the conclusion of the consolidation process two of MEDINAH’s directors resigned and the remaining director and significant shareholders worked together to name their replacements. The current board of directors has two main objectives:
conduct 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, and
execute on a vision for MEDINAH that includes
utilization of company resources in a cost effective and efficient manner,
limited dilution,
elimination of debt,
and allocation of future profits toward share buybacks and / or shareholder dividends.
We look forward to a long and successful relationship with AURYN and to sharing more details regarding these objectives at our next shareholder meeting

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The new Medinah site is lacking pizzazz. It is presently just black and white. I can’t find any photos as well, unless you go to the Auryn site. Not exactly a “world class” web-site. I hope it improves over time…

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