Nope it just broke and not much on the BID size. Wow who would have thought with whats going on and an AGM in October we would be sitting here at .01
YIKESâŚShockingâŚSomeone just unloaded over 2 million shares. You are right. We have no bottomâŚScaryâŚAnother 52 week lowâŚ
I think I took care of it.
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Nice to see all those shares were absorbed without much damage. Somebody has been itching to sell them for days sitting on the Ask for quite awhile.
Few more weeks of this, and there will be about a two dozen shareholders left in MedinahâŚmostly the same ones that have been here since the beginning(like myself) and just too stubborn to move on.
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Thank you Moderator. Anyone that has been around this stock should understand by now that there will be no significant, permanent upward trajectory in MDMN share price until we begin producing some verifiable, quantifiable production. Geoly37 had the best post today. Take the summer off and relax.
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DonD.
You are the ultimate Devilsâ Advocate. I only wish you added something to the conversation. I donât disagree that LNGâs constant banging of the drums is a bit redundant. However, a financial audit TODAY (not capital intensive) should allow us to, potentially, avoid another round of considerable dilution. Please keep in mind criminal 1 (Les) and 2 (JJ) were issued an insane amount of shares of doing next to nothing. We STILL are facing a large amount of unconverted preferreds.
Additionally, there are a considerable amount of deferred liabilities on the book. Yes, itâs convenient to assume these liabilities will be settled âamicablyâ but itâs reckless behavior to assume the same. I believe an audit would show that the old BOD owes MDMN 100âs of million of shares that would be retired by the treasury for their past shady behavior. You donât deal with these issues years after the company has found financial footing.
The same people on this board find the same tired reasoning for being run over in this investment. If we donât proactively deal with the issues, past and present, everybody should expect the same net result.
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Information and agenda for the meeting. On the main page.
Like you, I offer what I wish to but I find it amusing that you would find someone else redundant. I just try to offer my comments with as little direct or indirect attack toward the other poster as possible. Concerning the financial audit, I agreed the question was a valid one and if the cost of the audit could be justified then I would like to see the results of it.
Medinah offered him an official answer to his question and I thought Hurricane_Rick offered an excellent comment when he said
I believe we will all welcome the completion of the following
âMasglas, a significant MEDINAH shareholder, will work in concert with Mr. Goodin to accomplish a comprehensive analysis of MEDINAHâs books and records to ensure the continued integrity of MEDINAHâs financial statements. During this process all of MEDINAHâs 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.â
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More and more starting to look like the real deal.
It also says on Informational Meeting agenda its for shareholders of Medinah and Cerro Dorado, Inc.
I like how they gave a 2 hour slot for Aurynâs presentations. I am hoping that we will learn a lot during this time. If everything goes well with weather on mountain we should be mining and in production before this informational meeting.
[quote=âBaldy, post:311, topic:1377, full:trueâ]The same people on this board find the same tired reasoning for being run over in this investment. If we donât proactively deal with the issues, past and present, everybody should expect the same net result.[/quote]Iâm not following the logic behind this comment and the connotation of some sort of call to arms ala L&G.
Two years or so ago, this comment would be absolutely correct. However, it doesnât really reconcile when considering todayâs Medinah. Auryn is completely in control of the operation - financially and logistically. ADL is in the hands of capable miners who are moving ahead with the monetization of ADL to the point of small scale production at the Caren mine and are motivated to do so based on their not so insignificant investment in the operation thus far. Theyâve gotten rid of Claro and JJ. MMC and all of its questionable expenses and shell games of claims are no more. Les has been completely neutered and Lesspeak is all but extinct (as far as I know). They are performing an internal review of MDMNâs books and records to make sure everything is on the up-and-up. Theyâve minimized MDMNâs expenses and as a result have curtailed dilution. To that end, they are sponsoring the shareholderâs information meeting on their dime (at The MirageâŚfar better than The Orleans). Heck, theyâre even inviting CDCH shareholders to the meeting. And they are making an effort to keep North American shareholders more informed via Kevinâs volunteer efforts as Communication Director - a person that I believe most of the online investors in MDMN trust.
This is completely different and far better IMO from Medinah of old. So how exactly would shareholders expect âthe same net resultâ given the stark contrast between MDMN current vs. MDMN past? You would need Auryn to act as self-serving and suspect as the previous BOD and based on their actions thus far Iâm just not seeing it.
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It has been a long time since I liked this investment. But I can feel myself warming up to it again.
FYI, Auryn has a Twitter and FB page set up nowâŚ
https://twitter.com/aurynmining
https://www.facebook.com/AURYN-Mining-Chile-303413610008038/
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I have mixed emotions on the matter of the audit now vs later. JMO, but given the miserable state of the financial information, the fact that I confirmed with Jensen that he only takes the info provided, formats it and submits, and that it will require a forensic audit (total cost IMO $100k), I agree with Baldy and L&G, in that the longer we wait to do the audit, the harder it will be. In particular, I think Les, Vittal et al, will become less willing to cooperate, files will go missingâŚ
Lastly, I donât think the new board members will need to do more than review reports. Gary should be able to handle everything and obviously he is not involved in the mining operation.
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Well said Geo, it is much easier to avoid all the ânoiseâ. maybe someday we will get our money back or maybe even a small profit.
Doesnât look like the seller is done or MM putting pressure on this stock another 870k shares for sale at .0124.
A call to arms? Wow. I cannot believe that a financial audit is now considered a âcall to arms.â If you can explain to me the current status of the preferreds and what that means to the dilution to our current capital structure I would welcome the update. How about the preferreds that were recently added?
I, for one, would like to see those preferreds cancelled (for a starter) and believe that a proper audit would show that these along with many other shares were egregious and without merit. Yes, CDCH was able to cancel some debt without a full financial audit but MDMN is a lot more complex.
Iâm ecstatic about assurances in recent updates about limited dilution moving forward but I have no idea about the dilution we already face. It should come as no surprise that our share price canât find any life when the market has no idea whether we have 1.5B or 2B or however many shares outstanding.
I find it amusing when people yell about disconnects even though they have no clue as to the cap structure. An audit would go a long way to providing some much needed transparency Honestly, Iâm suprised at your response and donât âfollow your logicâ. Nobody is arguing about the obvious progress being made but unless you can answer some of my preceding questions itâs not relevant to my point (read: shareholders focused on the gold in the mountain while being run over massive dilution).
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