Did you happen to notice the part of todays update that read, " There were no hidden or secret NDA’s, side agreements, or addendums to this agreement."
I sure hope by the time the AGM comes up we’re not looking at this SP!
If you’d internalize many of your questions, the answers would be self-evident. For instance why are you not bringing charges against LP for falsely disseminating information.
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See - there’s your answer.
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I don’t believe you can have it both ways. I’ll go with their statement as an offer of total fact and in doing so it reads as a complete denial of any other agreements of any kind. Read it, study it, and if you can bring yourself to believe it then you will also believe we are dealing with a new and very much improved Medinah…
I sent an Email to Medinah Tuesday and the following is a reply I received back this morning with my Email of Tuesday. My guess is they had already heard these questions so many times that they were well along the way to make todays release when they received my email.
As we have already been told many times, It’s a new Medinah.
---------------------- See Below----------------------------
Subject Re: A refreshing and welcomed change
From: Medinah Minerals, Inc. - Info
Reply | Today 6:10 AM
We released a shareholder notification this morning with an answer to your question.
Origional message:
To: Medinah Investor Relations
On Tue, Jul 12, 2016 at 4:25 PM, Don D******* dond********@hotmail.com wrote:
Congratulations to the both the new Medinah Board of Director’s and Auryn Mining Chile on the open and communicative approach each company has taken in providing information to both the shareholders and the mining public alike. As a long time Medinah shareholder I believe this is a very refreshing change that has been long looked forward to coming about and enthusiastically received by many.
Many of the shareholders I am in touch with have some, as of today, unanswered questions. I have been asked by others to offer just two (2) of those questions in this correspondence. I understand that these questions may not be able to be answered back to me directly but the hope is that, if they can not be, Medinah will be able to answer them in a public way (web site?) in the very near future for all of the public to review.
- Concerning the recent signing of the sales agreement reported as “Medinah Minerals, Inc. Announces Completion of Sales Agreement with AURYN Mining Chile, SpA.”, dated May 16,2016, were there any side agreements or sections to the master agreement that have not been made public?
In the past some copies of agreements that Medinah entered into have been made public after being translated into English.
2.Will Medinah be providing an English translation of the master Auryn/Medinah agreement and, if any, all side agreements as well?
Additionally, in the past I have provided several correspondence to Medinah email contact address without ever receiving any return response indicating that any of my emails were received. While I look forward to receiving the answers to the above questions, if those answers can not be provided back directly, please return back an acknowledgement indicating this email was received and reviewed.
Thank you and please continue the open information process.
Don D**********
Medinah Shareholder
------------end of email-----------------------
In answer to the above, I did receive two responses back from Medinah on Tuesday.
The first was an automated statement.
The second was a personal reply.
"Thanks for your comments and questions. I assure you these messages are reviewed and passed to the appropriate party for a response. At this time we’re unable to answer your question directly. We will be addressing many of these kinds of questions during the presentation at the upcoming shareholder meeting. There will be a time for Q&A as well.
Thank you,
Medinah Investor Relations"
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Was this supposed to be a press release or a defensive rant clarifying what most shareholders should already know?? I’m sorry but these types of updates are waaaay too reminiscent of the past penny stock blabberings. There is NO need for a company that’s trying to establish some credibility to reiterate what has already been stated in previous releases. Very unprofessional in my opinion. Penny stock behavior results in penny stock prices. These guys really need to follow AMC’s lead and graduate from this “let’s address the rumors floating around on a message board created by people gullible enough to believe Les.” IMO
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While you are looking at the glass empty, as you almost always do, I look it as Medinah just provided a clear and direct answer to the rumors and questions that have been floating around for almost ever. Now there is no reason to ever discuss side agreements or hidden agreements ever again. They are not there. We did not hear this from another shareholder or some voice behind a curtain. We have it in an official Medinah release and the discussion if they ever were ever there should be over. They were not. — Done
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I’m very sorry, but I have not SEEN the agreements relating to the current deal, as executed. If I’m not mistaken, I have seen a summary of those agreements provided in a news release, but not the agreements themselves. If somebody knows where I can find them, please inform. If they have not published the agreements themselves, then by their own words these are very simple agreements and they have nothing to hide.
All I see is the NEW Medinah working hard to overcome the stain of the OLD Medinah. The OLD Medinah would never address the question but simply refer to NDA’s. The NEW Medinah is communicating as open with their shareholders as they can in an attempt to develop a trust never before enjoyed. Some will never be happy as long as they are not in charge. I will allow the NEW Medinah the time they need to overcome the OLD and spend time enjoying the refreshing change.
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I like this statement
I do like the new transparency that Medinah has been giving us lately but have to agree with this. This was an unnecessary release to clear up false information done by the previous regime and seemed unworthy of a company that has started production on a world class deposit. We are in a new time and place and have moved on from them. Let’s look forward and not back. AURYN and Masglas are moving us in the right direction and there is only good things on the horizon. Let’s not let the past be an anchor for the future.
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Hi Whatever,
There really is a lot in that one small paragraph.
“AURYN is sufficiently capitalized to bring the Caren and Fortuna claims into early production and achieve profitability. We believe that MEDINAH will be able to maintain our interest in AURYN with no further share dilution for taxes, surface rights, or claims maintenance. We expect to be profitable in 2017.”
What might be helpful in studying PRs as they relate to the prognosis for the success of an investment in the mining sector is to incorporate the information in the PR into the RISK/REWARD calculus. This is because of the ultra-high risk offset by ultra-high reward nature of this sector. Once a junior explorer makes a DISCOVERY and mitigates the critical DISCOVERY RISK then the next big hurdle is the TECHNICAL CAPABILITIES risk. Can the junior hook up with a party with the TECHNICAL CAPABILITIES to develop the deposit and maybe even get it into production? Next comes the FINANCING RISK. Can the junior hook up with those capable of providing the funds needed for turning the corner from development to production?
Throughout the entire process is the DILUTION RISK. Can the junior do what is needed to proceed without causing massive dilution. I think Medinah circumvented this risk by cutting a deal when they did. DILUTION RISK involves the junior’s monthly burn rate and its share price. Annual taxes, surface rights and claims maintenance costs are what are collectively referred to as “annual carrying costs”. The taxes alone for Medinah’s properties were the customary $8 per hectare (mensura stage of development) or about a quarter of a million dollars per year due on April the first.
From a risk/reward point of view, Medinah successfully dealt with the gigantic risk i.e. the DISCOVERY RISK. Due to hooking up with AMC (and Bocanegra, Bent, Aguilera, Maurizio, etc.) Medinah was able to deal with the TECHNICAL CAPABILITIES RISK. Due to the Masglas relationship, Medinah was able to deal with the FINANCING RISK. Due to doing a deal when they did they were able to deal with the DILUTION RISK. This actually represents a significant amount of “DERISKING” from a mining investment point of view but I sense that the market is currently way too confused to recognize this reality.
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Weather is improving on the mountain. Don’t know how much it snowed up there yesterday/last night but it could have been a lot. (Snow-forecast.com shows a small area of 20"+ fell at the Alto but it was model derived. I couldn’t find anything higher than a report of 14" in the nearby Andes from the last storm.)
Next storm system will pass through on Sunday but it looks minor at this point in time so here is hoping that they get back to work with mine construction in a couple of days as currently scheduled.
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Double ditto.
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Need some help from the board.
I am being forced to liquidate one of my accts at BancWest, due to a new policy on penny stocks. I tried to transfer the acct to Etrade, but they are saying they wont accept transfers of penny stocks, weird because I transfered some in last fall).
So the say I need to liquidate my MDMN, then buy it back with the cash at Etrade.
Anyone know the tax implications? What about rules for selling then buying back soon after?
Thanks for the help.
Check your private messages.
Assume you are selling at a loss and not in a retirement account. To the best of my knowledge, you just sell your shares, then wait 30 days and buy them back. Assuming the price doesn’t go anywhere in 30 days (good assumption these days) then you can take the loss on your sell and you will have a new basis going forward. If you don’t care about the tax consequences, then just sell and buy back immediately. But in that case, you can’t claim the tax loss.