In the meantime, maybe golddigin should withdraw his complaint about Medinah, and just put it against Les Price. We don’t need shut down, after waiting all these years. Let’s just let Auryn take care of things, okay? I for one want some rewards from this investment, and I believe we are finally on our way to making some money on this investment, even though it may take a little longer than we all wanted it to be. Thanks, ldras
2 Likes
I guess this may have already been posted, but I missed it while returning home from the meeting.
Here it is again for anyone else that may have missed seeing it like I did:
MEDINAH Retains Law Firm for Forensic Audit and Improves its Capital Structure
Oct 03, 2016
OTC Disclosure & News Service
Las Vegas, NV -
October 2, 2016
On Saturday, October 1, 2016, MEDINAH Minerals, Inc. (OTCMARKETS: MDMN) participated in AURYN Mining Chile’s Informational Meeting in Las Vegas, NV. During the meeting MEDINAH discussed its current financial position and made further disclosure regarding its 15c211 discrepancies.
MEDINAH has retained the law firm of Holland & Hart to represent it and direct an independent forensic investigation into its financial and share issues. Additionally, the firm will prosecute all necessary legal actions and will defend MEDINAH in the pending Okanadian legal action. J Stephen Peek and Holly Stein Sollod will serve as the lead attorneys representing MEDINAH.
During the meeting MEDINAH announced that Greg Chapin and Les Price signed an agreement on August 23, 2016, cancelling all alleged debts owed to them by MEDINAH. In addition, former directors and officers Vittal Karra and Greg Chapin agreed to return to MEDINAH all of their shares of MEDINAH stock (common and preferred.) Furthermore, Greg Chapin agreed to give MEDINAH the shares he owned in AURYN Mining Chile SpA which he obtained through his ownership position in NUOCO.
In summary MEDINAH anticipates the following changes to its capital structure and ownership in AURYN.
A decrease of $4.3 million in alleged debt leaving the alleged remaining debts totaling $373,000. This is A 92% reduction in debt.
A return and cancellation of approximately 122 million shares of common stock. This will lead to a 4.1% reduction in the amount of common shares issued.
A return and cancellation of approximately 1,600,000 shares of preferred stock. This will lead to a 38% reduction in the amount of preferred shares issued.
An increase in its shares of AURYN Mining Chile SpA of 1,704,000 shares. This increases MEDINAH’s ownership in AURYN by approximately 7%, from 25,000,000 to 26,704,000 shares of AURYN.
MEDINAH intends to cancel the common and preferred shares returned to it, thereby reducing its shares issued and outstanding. As soon as possible, MEDINAH will reduce its authorized shares commensurately. Once these transactions are completed MEDINAH will report accurate, finalized totals to its shareholders.
Please note that the cancellation of the debt and return of the shares was voluntary. This is not a quid pro quo transaction. It does not prevent or influence the company or its shareholders from bringing legal action against any individual should such action be deemed appropriate.
Submitted by the Board of Directors
1 Like
I understand your concern which is why I specifically filed a complaint against LES PRICE not MDMN. I do not want the SEC to shut down MDMN for all the reasons you mentioned. What I would like is for some regulatory authority to step in and freeze LES PRICE’s accounts so he stops selling and depressing the share price. It is fairly clear that current shareholders are not selling so it really only leaves one possible explanation…LES PRICE. He has practically admitted to fraud, why is still being allowed to influence the share price in ANY way? He needs to be shut down ASAP!
2 Likes
Did they explain at the meeting why the transfer agent reported outstanding share totals to Les Price when he has not been an officer of Medinah
for many years? Seems to me that the TA may be in trouble.
1 Like
No, not specifically. Just my impression and take away from the meeting that I previously expressed and cabezon placed on the Meeting Information thread:
Continuing the discussion from October 1st, 2016 Informational Meeting News:
I’d prefer to let the attorneys figure out the facts and proceed with the proper course from there. It is apparent to me that far too many people mistakenly trusted Les to handle things for which he wasn’t authorized.
3 Likes
449000 shares for sale @ .01 Somebody tell me that’s not Lester selling
That’s not Lester selling.
I don’t really know, I just figured I’d reply to your request. 
1 Like
Thanks TR:laughing:
The USD is again crushing gold, silver, & other currencies. The blame is being put on the Fed speak for a Dec rate hike. Not sure about that. But the higher the USD goes the more it is both a signal of and a cause of overall monetary systemic stress. There will be lots of squealing all over if this continues very long.
Yes, In addition to forging signatures, Les changed transfer agent figures before forwarding to our bod for reports, don’t know why it went through Les.
Sorry about the possible troll that appeared today. I think you can figure out who… re:SEC Hope that didn’t really happen. Person came back with a new log in after a previous suspension, shut down now. I’ll have to check the new member list for other reincarnations.
From Sprott, in addition to the Fed speak:
We believe this is a correction within a secular bull market. So far we do not see any the developments as the catalyst for a bear market. The real issue is the lack of liquidity due to holidays (Rosh Hashanah, Passover, and China’s Golden Week) and skittishness of where central bank policies are going. We do not see the end of negative interest rates and we do not see monetary policy giving way to fiscal policy (if it happens) to be gold bearish either.
This information is for information purposes only and is not intended to be an offer or solicitation …
http://www.sprottglobal.com/thoughts/articles/gold-insights/
Presently, it is around 10k to buy or sell 1 million shares. Investors who have many millions of shares, may decide to sell some of their position. That could put some serious selling pressure on the stock like today. Especially, if they are not willing to wait it out. Until we can somehow excite some new investors to start buying, we could be in dangerous territory, concerning our share price. Panic selling scares me to death, especially if we remain under .01. So please, let’s not panic sell. Or at least, wait for some buying to sell into. Of course, that is a personal choice for anyone to make, and I certainly would understand, no matter what the reason. Good news about production can not get here soon enough!!!
1 Like
After the AGM which was a positive event how much lower can it go. The legal events should take 18 mo. at a minimum so unless you have to sell No Worries. If we get a JV partnership with the P N in January all things should start to turn positive with the announcement.
Mangelsen,
Please stop using this forum as a sounding board for your emotional state of mind. I for one do not want to read about how worried and pissed you are with every downtick or any time the stock doesn’t respond to anything positive. I’m fairly confident I’m not alone in this opinion.
EVERYONE has been hit by recent events in this stock. I assure you that you are not alone in your misery so we don’t need to be reminded of it with each one of your posts. The mods have let everyone let off a good deal of steam about the situation for the past several weeks. It’s about time you realize that there really is nothing any shareholder can do other than wait it out or sell if that is not feasible. The outcome of this investment is now in the hands of the forensic auditors, Auryn’s progress, and possibly the SEC. None of these are speedy remedies. As such, the stock will meander at these levels and probably lower for many, many months, even with positive news coming out of Chile until this works itself out.
The sooner you recalibrate your expectations and understand that the stock is pretty much dead in the water until there is clarity on the share structure and clawbacks, the sooner you’ll be able to stop agonizing over every downtick. Please let it rest or voice your despair somewhere else.
25 Likes
I am sorry but with all due respect (and I do mean that, Trader Rich) the emotional expressions of posters on this board have been at least as good a gauge of the health of the company as have any of the predictions and suggestions and spin put out by any of the smart money on this board — one of the fifteen friends I brought into this stock five years ago, and if you can remember those days there was plenty of self congratulation expressed here (and it was one of the key things that attracted me here) was the contention that this board was run and maintained and posted to by a bunch of legal, geological, investment, and marketing pros and these folks had done all sorts of top-notch due diligence, due diligence of a level so extraordinary that it is virtually unfound in any other stock chat room, and my friend did his own due diligence and said, here, in so many words, “there’s are a bunch of crooks running this thing” and he got shouted down quickly and actually banned from the board and it turns out he was more right than any single one of the smart money posters i’ve read here without exception. I think anyone expressing a cogent emotional angle should be as equally welcomed here as the promotors of every single other angle, including logic (which has shown to be not-at-all a match for this stock) and including those counseling yet more patience.
A week out from the stockholder meeting I’ve had time to reflect on it, and it occurs to me that we are in exactly the same sort of emotional state as we were after the 2012 meeting, and I find that as interesting as any of the stories and information we were presented in Las Vegas. Again.
— madmen (brad)
5 Likes
Madmen,
I think you meant to address that to me, not Trader Rich.
[quote=“madmen, post:490, topic:1528, full:true”]the emotional expressions of posters on this board have been at least as good a gauge of the health of the company,[/quote]The emotional expressions of posters on this board are generally more reflective of and reactionary to the share price - which is one of many gauges of the health of the company. When the share price is in a downtrend, all the boo-birds come out which is understandable. When the share price is rising everyone is passing around virtual high-fives. Those reactions have nothing to do with the health of the company, just the share price. When everyone was euphoric with MDMN in the teens, did that mean the company was “healthy”? Not exactly.
It only takes a quick glance of the chart, your brokerage statement, and the recent news for anyone to gauge the health of the company. Shareholders don’t need to read constant reminders posted in the forum when the share price unfortunately suffices quite well in that capacity.
5 Likes
It occurs to me that some may be at that level of emotional state that they were after the 2012 meeting but I believe all should agree that we are head and shoulder above where we were then in actual knowledge of where we are in the actual process of moving forward toward becoming an income producing stock. Then all we had was, next week, a “done, done, done” and a tap on the vest pocket claiming a signed deal and from some of the recent reports here we were in the second year of Les selling fraudulently acquired shares of Medinah.
Now the list of known positives grows daily while we can look back to that time knowing now what we did not know then. We now know that the bleeding of outstanding shares has been stopped. We know that legal action is underway to have as many of those shares as possible returned and retired from the float. We now know Medinah entered into an agreement where we began owning a base 25% of AURYN and circumstances have resulted in that ownership base to grow to 26.7% and likely to grow at least another 1.7%. AURYN has announced the start of production of gold ore from the first of 3 adits and the next two are likely to be producing sometime within the next 90 days. We know that discussions are underway to JV the NP property as early as within the next 6 months. The list goes on in the 24 slides at Altos de Lipangue Area – Property Consolidation and Expansion of Exploration Program - AURYN Mining Chile .
We all know what the share price is and there is little to nothing that any one here can do to change it. I deal with it by understanding that AURYN continues to demonstrate in every way their intention to move forward in a professional business like way to expand production and generate profit for its shareholders. I also understand that Medinah, as a shareholder of AURYN, is likely to receive dividends before Medinah’s share structure is corrected to a point that those dividends can be passed on to its shareholders, so as not to issue dividends to shares that are still looking to be recovered at that time. I anticipate that as those dividends are issued to Medinah a decision will be made to grow cash for the eventual dividends to Medinah shareholders and possibly buy back Medinah shares as long as the math makes sense to do so. I anticipate that the share price will begin reflecting the eventual Medinahs accumulation of cash in its coffers and it’s retirement of outstanding shares both by legal claw back and corporate repurchase until such time as it is determined that the clawback efforts have been exhausted and it is time to begin issuing dividends to us shareholders.
I, like many others here, understand that this process will take time and I plan on waiting for the process to work it way to dividends and the rise in share price. The alternative is to walk away and I’m personally not looking to do that. I am prepared to watch events closely but I don’t plan on being miserable for the next 18 to 24 months because I own Medinah. I’m not trapped here. If I see something that is likely to make me more money than this then, just like everyone else here, I can make the decision to sell and leave. As I said, at this time that’s not the plan. As long as I’m here I will remain basically positive in attitude because the positives of me remaining invested here are greater than the negatives. If I determine the negatives ever exceed the positives I will be gone. I suggest that, if you have not already done so, some here should consider evaluating your personal Medinah positives and negatives and act accordingly.
4 Likes
The day hasn’t even started, but the complaining has. Folks should read the last day’s posts before starting in and repeating what’s already been covered. We have seen very similar posts to this every day since the meeting (and many many before that) and we all already know this.
Auryn has promised more news as trucks start hauling and they have decided the best method for concentrating and production gears up. And they expect to have positive cash flow by EOY/first Q 2017.
To everyone, Please, do not post unless you have something to add to the conversation.
Please see Hurricane Ricks 2 posts from last night.
6 Likes
You know what’s funny to me? For years when we were trading at higher prices and feeding off of all the happy joy joy of “Lespeak” hardly anyone had any fears, doubts, or discontent. The vast majority were busy pumping ourselves up with all sorts of wild speculation regarding how much money we were going to make, and I was as guilty of this as anyone. (And if we gauge this by the amount invested, then I’m probably at or near the top of the list of fools).There was absolutely NO EVIDENCE of anything other than some old drill hole data from I think the 80’s along with an old mine that the Spanish had dug back when all they had were shovels.
Now we have a partnership with legitimate mining professionals who, for over a year now, have been continually proving their legitimacy and, in the process of doing so, are confirming that all of us were REALLY LUCKY to have ended up “stuck” with shares of a pump and dump penny stock that not only ACTUALLY HAS SOMETHING OF VALUE, but as time goes by appears to have something of TREMENDOUS VALUE. So now all we “stuckholders” have to do is sit on our asses and wait for other people to continue their progress so that someday we make a profit on our stupidity and ignorance, and maybe even receive dividends for decades to come so that, eventually, we won’t have to sell a single share to get our money back.
No, I think the time for panic selling for any competent person with a long term perspective here has passed. But maybe that’s just me.
17 Likes