We will still have to get through the end of year selling. Maybe news will help price support before we get to that point.
I am sure that Kevin and the rest are busy working through the 10-Q. What for that later in the month to answer may of the questions here. This is going to be a long haul and should be looked as such. Day to day bitching is not going to result in answers and the share price will not reflect the value for many more months.
Yes. Lotās of people selling to take advantage of losses to offset gains. Making a bet that MDMNās stock doesnāt go anywhere for the next 30 days. Not unreasonable. Unless you are making tax decisions or looking to add it makes ZERO sense to be watching this stock for the next few months. Find a new hobby. Maybe a pen pal? Les will be looking for one in no time.
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So true. You will only drive yourself crazy with frustration. I mentioned weeks ago that MDMN shareholders need to prepare themselves for lower prices in the wake of the Les Price situation and unfortunately that is what is happening combined with people bailing and/or taking advantage of tax losses to offset capital gains. And unfortunately there is no immediate cure for this pain unless and until MDMN has the funds to do something about it.
At this point MDMN shareholders can only trust that ADL has the mineralization that can be effectively monetized by Auryn, Aurynās plan as set forth in the shareholderās meeting continues as expected, and that Kevin is doing right by the shareholders to dig the company out of this hole and eventually turn this around while navigating through some pretty trying times. This isnāt a quick fix made better by a single PR or update. The stockās performance did nothing after the shareholder meeting when the company was at its most accessible for getting information. It is going to take time and money - the latter being the real issue here. MDMN would have to either sell off more shares at a severe discount, take out a loan of sorts, or sell off part of their Auryn asset or wait for revenues to come in before being able to really do anything - particularly to handle their legal issues. Les knew this better than anyone, which is why he filed suit against MDMN. Right now MDMN is essentially powerless until they have funds to defend themselves and go after Les for his crimes.
I donāt know how long it will take for revenues to start to flow Medinahās way, but Iām not expecting anything in 2016. In the meantime, shareholders really need to prepare themselves for a long, frustrating wait and where the share price will probably continue to sink with wide bid and asks. While Iām not a pessimist by heart, right now I find it best to keep the pessimistic outlook and be pleasantly surprised, rather than to be perhaps naively hopeful and constantly disappointed. As John and Rich have suggested, this stock is going nowhere for the next few months so I, for one, will not be following the share price other than checking in very sporadically like I do with my other stocks that are long holds.
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HR, with all due respect, production results should help. We may not receive dividends immediately but something to give us assigned value should help,
Again, those that went to the meeting heard what Mauruzio said.
Auryn can update us on production results and I hope they do as promised.
It was insinuated that the mdmn portion of revenue once profitable, will help fund the attorneys and they would be paid once finished. In other words they are working and will receive back end payment
I would hope we have a little recovery once results start coming in.
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I think they said the lawyers needed a retainer to start and the remainder would be owed later. They semi seriously joked that anyone willing to put up some serious bucks would be welcome. Iām pretty sure they said Greg might be putting himself out there again in lieu of any other contributers showing up. Correct me if Iām wrong.
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I believe you are correct and after it was insinuated that Greg would be fronting the retainer $, there were shareholders not happy about that
Gary then asked if anyone else would like to help with $ and there were no takers
Also, I would assume the significant bill will be back end
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Youāre correct Dentman about production results. But Iām tempering my expectations as you can probably tellā¦much more so than a lot of other shareholders might be. I believe the reports coming out of the meeting were that they were going to start slowly to get a feel for grade, location, and how best to ramp up production and so forth. So we may not hear about the kind of eye-catching results weāre looking for until weāre into 2017. Thatās why Iām basically shutting off the lights on MDMN until 2017. Iāll gladly take any positive surprise though.
The amount of rock being processed will be less initially but it is believed the gpt is 10 times greater than originally thought
Iām not counting on 10x gpt, but to each their own.
Nice move on gold today, was kinda expecting it to move after the election
Looks like a little after hours report of trading action that indicated a total of 3,480,500 shares traded today.
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Like yesterday we once again see another after hours late reporting of trading action that increased todays total trading to 2,251,702 shares.
If les and I assume he is selling these shares its really tough to watch without being able to do anything.
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It seems every time they up the bid there is someone anxiously ready to pull the trigger to sell.
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Can someone explain how many truck loads will have to be shipped by end of year to hit the 5,000 oz. Of goldā¦I would use 5x figure for grade to meet in the middle even thou they are hitting 10x
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There is no way to get this figure, the tonnage and truck loads depend on the percentage of gpt. and quality. This will determine if concentrating or other methods need to be used to be more economical
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Two answers, both āballparkā with current information. Cutoff grade is 15 gpt. At the meeting it was stated they were finding 10x that grade (150 gpt), so half that is 75 gpt (roughly 2 OZ per ton to use a round number). Using 20 ton truck, it would be 125 truck loads. If you want to round up a little to 48.4 OZ per truck (75 gpt / 31 g/OZ X 20 t/truck = 48.4 OZ/truck load) about 100 truckloads to reach 5000 OZ, depending on the recovery efficiency.
Using the average of 34 gpt (extremely conservative, 1.5 km avg.) provided by Bocanegra (slide 14), roughly 1 OZ/t, it would be 250 truckloads.
Fairly meaningless to speculate at this time.
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