Not so sure that this is accurate considering the OS and Authorized shares. As has been highlighted by several on this forum many producing gold and silver mining companies have outperformed, and continue to outperform, very nicely while it appears MDMN may be “dead money” until production figures are available.
Despite the opinion of several shareholders here, I think it unlikely a hostile takeover (over 50 % of outstanding shares acquired by MASGLAS) or a TO during the next year or two occurs. New targets need to be defined and progressive formal PEAs on these targets need to be announced. A hostile takeover may present legal problems given the current makeup of the BOD, IMO. A more logical approach is to start and grow early exploitation production results. A circular ownership model, which is evidently present already , rewards the investors of MASGLAS (and MDMN shareholders) as actual production figures meet or exceed the expected production of 25,000 troy ounces for 2017. Not only would MDMN PPS be expected to climb, but also, if AURYN is able to raise enough revenue from expanded exploitation permits and production a dividend would reward MASGLAS for it’s investment as MDMN shareholders also receive 1/3 of any AURYN dividends issued.
May 16 Medinah Announcement
The Company’s goals are to look at the real possibility of issuing cash dividends and initiating share buyback programs. MEDINAH shareholders will share in the entire Altos de Lipangue Project production revenues for many, many years to come.
Until such time, even AURYN is a cash drain on MASGLAS as it funds exploration and payroll for the ALTO interest free through 2017. Expenditures for a gravitation concentrator and crusher unit will not be trivial. MASGLAS has 9 other projects under development that are needing to be maintained if it is to meet it’s announced expected goal of an advanced stage portfolio of properties. There are many profitable opportunities in currently producing miners that are not looking at a 2-5 year timeline that investors here are necessarily looking at. If there are only a couple of thousand shareholders here, it is not likely many are selling here except for necessity. Current shareholders are absorbing these shares, but it has been immediately more profitable this year investing in the producing miners rather than buy the shares available through attrition and waiting for a return. It is an individual investor decision based on investment goals and means. The opportunity cost to shareholders in MDMN over the years has certainly burned many, but as said so well in the post preceding this one: