I believe the hiring of BuyIns and the short story was an attempt to manipulate the stock price to help him unload stock at higher prices. It would be interesting to see if there is any correlation between the two events.
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Can we possibly discuss how to protect our share price, instead of Les and lawsuits? That will not be resolved for quite awhile. It is obvious that there is little to no buying. Which means that ANY selling is going to lower our share price. I have played penny stocks for over 30 years, and have seen this scenario played out many times. If something isn’t done to implement some periodic buying by Auryn, Masglas or other interested parties, we will find ourselves trading significantly lower very soon. Please do not interpret this post as negative. This is a very real issue that has to be addressed, and I just think that something could be done to help protect our price…
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Totally agree, this is becoming beyond frustrating and the sellers keep showing up.
I just hope Auryn/Masglas isn’t holding back info until the JJ lawsuit with Masglas is finalized.
MEDINAH Receives Shares from Greg Chapin
October 27, 2016
MEDINAH Minerals, Inc. previously announced that Greg Chapin, a former officer and director of MEDINAH, cancelled the company’s debt owed to him and volunteered to give his shareholdings in MEDINAH (common and preferred) and AURYN Mining Chile to the benefit of MEDINAH. The company has now received these.
In total Mr. Chapin gave MEDINAH
34,114,063 shares of MDMN common stock,
1,600,000 class “C” convertible shares of MDMN, convertible to 32,000,000 common shares,
1,706,000 shares in AURYN Mining Chile SpA derived from his ownership in the NUOCO, and
cancelled all remaining debts equating to approximately $450,000 of debt that MEDINAH owed him for advances.
All of these actions were initiated by Mr. Chapin for the company’s benefit and were not part of an arbitrated compromise or entered into under duress or threat. According to Mr. Chapin, “Medinah Minerals, Inc. has been seriously damaged by the recent revelation of nefarious and fraudulent activities. I sincerely hope that gifting my MDMN and AMC shares to MEDINAH and cancelling MEDINAH’s debt to me will help augment and facilitate the rebirth of MEDINAH Minerals, Inc.”
The 34,114,063 common shares of MDMN are now in the process of being transferred into MEDINAH’s name and will be returned to the Company treasury.
All 1,600,000 class “C” convertible shares have been returned to the Company and are in the process of being cancelled.
The AURYN Mining Chile SpA shares certificate, in the name of Gregory A. Chapin, was given back to AURYN for the benefit of the Company. AURYN has cancelled the returned certificate and reissued a new certificate in the name of MEDINAH Minerals, Inc. As a result of the returned AURYN shares by Mr. Chapin, MEDINAH now has a total of 26,706,000 shares of AURYN Mining Chile representing a 26.7% equity interest, an increase from MEDINAH’s previous holdings of 25,000,000 shares representing a 25% equity interest.
Submitted by the Board of Directors
Interesting bit of language here. It would seem, IMO, MDMN and its attorneys would not provide any release to Mr. Chapin. In effect, MDMN said, “if you are honest in your desire to help the company, do so, but we will not let you off the hook for any potential misdeeds, if any.” Looks like Mr. Chapin then stayed good to his desire to see MDMN succeed and gave up his holdings in MDMN and Auryn without getting anything in return. A gesture accepted and appreciated, but I hope Mr. Chapin continues with his desire to see MDMN succeed and tender any other info and docs he might have to help recoup further shares from others not as altruistic.
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Meanwhile, many of our accounts are losing more money on a daily basis than is being invested. Large percentage gaps between bid and ask.
For those that say no manipulation, I strongly disagree as some entity is simply trying to crush the co in a patterned way.
What can we do? Wait for production news and hope that helps.
Cmon Mauruzio, you started production Sept 30th. What are you finding and how much $ is rolling in?
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See my post earlier, Auryn won’t be buying stock. Masglas might be able to, but they have a lot of other irons in the fire, too. Masglas also might not look ethical if they started soaking up tons of cheap stock knowing a lot of the float could be stolen property. We need to get the legal issues in gear, then IMO price will follow production.
Masglas also has the responsibility to loan funds to Auryn for production expenses which would take priority.
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Thank you, Greg, for following through.
Do any of you CPA types out there know if the stock return creates a taxable event to mdmn? Forgiven debt, etc… ?
Perhaps there are enough roll-over losses to compensate. TIA.
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I guess we have to wait and see if Vittal follows through as well.
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Nope - not a taxable event. Newleaf, CPA
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Looks like someone had to sell at market this morning taking the stock down to .0035
Yup looks like it
How does happen when there are buy order sitting at double the price?
This is happening a lot lately.
It happens especially in thinly traded stocks when some puts in a large buy or sell order at market My guess someone had MDMN in a margin account and they received a Fed cal,l which requires same day liquidation. When that happens the broker simply puts in market orders they never put in limit orders. Or it could be someone simply not knowledgeable on how to trade thinly traded penny stocks.
Thank you Karl.
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I sure hope Kevin our new CEO comes out with news on how Medinah is going after les after this recent filing against Medinah.
Also where’s Auryn and there news? Or are they not releasing anything until Masglas and JJ suit is over?
I’ve had several ask what the gray rock is that is being stockpiled by AMC shown in their most recent facebook photo linked to above. I believe this is merely “calcite”. You might remember AMC (rightfully) bragging about how the Merlin Veins have all 4 of the typical layers to low to intermediate sulfidation epithermal vein systems still intact i.e. they have not been eroded.
One of the 4 layers is the “carbonate layer” in which the gold is surrounded by different forms of “calcium carbonate”. One of the most stable forms of Calcium Carbonate is this stuff called “calcite” which is a cousin of “limestone”. “Chalk” is made of “calcite”. The ADL deposit formed about 91 million years ago during the “Cretaceous Age”. “Creta-” is Latin for “chalk”. Cretaceous Aged deposits have a lot of calcium carbonate in them. These are “sedimentary” rocks that came from the sea floor which represent the skeletal fragments of marine organisms like coral and mollusks.
I think a lot of us would prefer to see “visible gold” in a milky white quartz vein. Actually a lot of the higher concentrations of gold is contained in very boring looking rock like this gray stuff we see. Oftentimes the uglier the rock the better the grade.
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