December 6, 2016
MEDINAH Minerals, Inc. previously announced that Vittal Karra, a former officer and director of MEDINAH, volunteered to give his shareholdings in MEDINAH Minerals Inc. and AURYN Mining Chile to the benefit of MEDINAH. The company has now received these.
In total Mr. Karra gave MEDINAH
• 65,157,222 shares of MDMN common stock in certificate form,
• 10,000,000 shares of MDMN restricted common stock held in a brokerage account and requiring a legal opinion for redemption, and
• 118,000 shares in AURYN Mining Chile SpA derived from his ownership in the NUOCO.
These actions were initiated by Mr. Karra for the MEDINAH’s benefit and were not part of an arbitrated compromise or entered under duress or threat. Per Mr. Karra, “The shareholders of MEDINAH Minerals, Inc., including family, friends, and me, have suffered greatly through the fraudulent activities. My hope is that gifting my shares of MDMN and AMC to the benefit of the MEDINAH will aid in the recovery process as the company seeks justice from those responsible for the fraud.”
The 75,157,222 common shares of MDMN are now in the process of being transferred into MEDINAH’s name and will be returned to the Company treasury.
The AURYN Mining Chile SpA shares certificate, in the name of Vittal Karra, was given back to AURYN for the benefit of MEDINAH. 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. Karra, MEDINAH now has a total of 26,824,000 shares of AURYN Mining Chile representing a 26.8% equity interest, an increase from MEDINAH’s previous holdings of 26,706,000 shares representing a 26.7% equity interest.
Submitted by the Board of Directors
Now, if only we could start getting some additional news from AURYN on how the mining is coming along. Did we hear anything additional on the following announcement, or are we still waiting on an update?
On Tuesday, August 30, an older tunnel was uncovered between adits #2 and #3. The vein pictured below was discovered in the tunnel. At this time, we are unable to determine whether this is the same Merlin #1 vein that is at surface, in adit #1, and adit #2 or is a completely separate vein. AURYN geologists will take representative samples from the vein Tuesday, September 5, 2016, and submit them for assaying and analysis. Additional Adit Uncovered During Caren Mine Preparation | AURYN Mining Corporation
Another “swell” guy giving up all of this ownership. Sorry, as swell as guys like Vittal and Gary may be, you just don’t give up all of your shares unless you are VERY aware of misconduct and VERY scared of the repercussions. I thank Vittal for being proactive but continue to wonder why Gary still owns any shares or should previous directors be faced with a clawback? Where is Dennis Tenney?
Can anyone make an argument as to how JJ/Claro’s shares shouldn’t be claw backed? If we take an aggressive enough approach, we could easily claw back a billion shares. Doesn’t seem like anyone who participated in Les’ illegal private placements is worrying about covering those shares yet. Unless MDMN completely drops the ball, they should be.
I think they may be working on that in Chile. Are there several others with small bits of “insider” stock like Greg’s son, Vittal’s
family…What’s the latest with the Day brothers?
The lion’s share of this cluster#@** are with all those connected to Les and JJ over years and years of con artists.
Thanksgiving served crow and maybe coal for the holidaze. Payback and Karma working together.
Gotta love it =…finally!
All those who participated in private placements with Les in 2005 or after and have them in cert form will loose those shares. I.e. Vittal (already done)and Callahan. Gary Goodin has a very small position in MDMD and didn’t get any shares from Les. BTW he was the one who discovered Les’s fraudulent act against the company . I don’t see how JJs and Claro 's shares are going to be clawed back as they weren’t part of the stolen shares by Les.
Gregs weren’t. He volunteered them back. Even though I spoke to him at length I don’t know if his were obtained in a PP with Les but I know for a fact that Vittal’s were.
They alluded to monthly production updates. On this topic, they expected to complete their three truck samples by November 30, 2016. So, yes…I expect an update this month.
The second to last update we had said…“we will inform our shareholders when we have consistent production”…I think this is telling us that soon we will have consistent production or they would of not put that in there…I take it as a good sign of things to come…
