The Mining Play

Medinah Minerals (MDMN) - 2016 Q4- General Discussion


#1256

Although AURYN may hold back the release of public information from time to time for its own strategic reasons, now is not one of those times. Presently AURYN has not shipped its ore for processing. When the first shipment occurs, AURYN management will evaluate its communication to medinah.

So no ore is being processed. Do we know when? Auryn needs to give us there update as to why we are not processing after they told us we were going to be cash flow positive by the end of 2016. This has become a sick joke already!!


#1257

I personally am glad KT is taking some pay to enable him to devote enough time to do this right, it must be daunting.


#1258

Very nice update Kevin.
I do agree with DD. Why haven’t they processed any ore yet?
For years we’ve heard the BS about stockpiling, trucks moving, etc.
For once, can something mdmn owns start producing something.


#1259

Note this part:

“The ADL is being actively mined and explored and its claims are significantly larger than the subset of claims Medinah had only a 50% interest in several years ago.”

Since they continue to mine, I wouldn’t be overly concerned yet about the lack of shipped ore to date. Auryn will be following a course action that makes the most sense economically to monetize the ore.


#1260

A communication from the company is good and once again filled with promises and expectations of a better future for us MDMN holders. I would simply note the following status of the prior goals:

5,000 ounce in 2016 – Not happening
3 tuck loads to determine processes. – Did not happen
Cash flow positive in 2016 – Not happening

Old MDMN…new MDMN…were all still betting on the come.


#1261

I think it wise to wait till we hear from Auryn (presuming before the end of the month) on just what they have or haven’t done in 2016 before drawing any conclusions.


#1262

A few questions crossed my mind that I would like to see clarification on. On November 15 AURYN announced:

As announced at the Informational Meeting, our plan is to ship three truckloads of vein material for test production runs. We expect this to be accomplished by the end of November 2016.

Is AURYN holding back the results of it’s granulometric analysis and testing (i.e. is AURYN making a distinction between test production runs and commercial processing of ore)? Are the results of the analysis regarding average ore grade as satisfactory as initially expected? Is ore being mined and stockpiled while AURYN finalizes contracts for the specific commercial processing of any ore mined? Is a certain tonnage required to be shipped for each production run? Will any concentration of ore occur on site prior to commercial processing? Any further information released by AURYN regarding the progress on it’s mining and exploration activity would be most welcome here.


#1263

Wow Kevin, your update is outstanding , a very informative and very professional touch. I think you covered all the bases that you were permitted to disclose. And hopefully the forensic lawyers will be successful in bringing Les to justice for his crimes.
Merry Christmas to you all.


#1264

Yes, outstanding Kevin and thank you for all your efforts keeping us mushrooms informed. Don’t know if your update is helping but we are looking at some buying coming in right now. Great job Taff


#1265

Kevin, thank you for taking on this responsibility. Those of us who have suffered through two decades of Les’s manipulative “wishful” thinking, know the cumulative damage done to so many. For Kevin to take charge means honesty, reliability and disclosure (when appropriate). This is a quantum change from the past, and the actions (lack thereof) of past directors.
Thank You Kevin!!


#1266

Kevin Thank You!


#1267

The CDCH trading volume today is absolutely a breath of fresh air .
hmmm


CDCH - Discussion
#1268

its probably les covering, he’ll give all the shares back and still make money


#1269

Looks clear to me where we now stand as MDMN shareholders, great job Kevin, and many thanks.
it would be appreciated if Auryn could lift the cloud hanging over their predictions for 2016
Happy holidays to everyone.


#1270

A total of $104.60 difference between the bid and the ask for over a million shares. Does the bid move to meet the ask or the ask move to meet the bid? Which one blinks first?


#1271

“Beginning 2017 I will be paid at a rate of $100 per hour with a cap of 30 hours per month billable, regardless of how much time I commit. If there is any change in this, you will be notified.”

It’s been a long time since I’ve put on my special colored glasses and allowed myself to be duped. Today I put them on, just for a minute, and saw that Medinah will be generating at least enough money to make a $3,000 monthly payroll beginning in 2017.


#1272

Alas, I think you indeed may have been duped :grinning: I believe Kevin is being compensated from Mauricio and not Medinah which would make your conclusion not entirely accurate.

I don’t have the announcement in front of me, but my recollection was that he asked Mauricio for compensation and Mauricio and his team met apart from Kevin to arrive at the level of compensation stated in the announcement.


#1273

"Compensation

Up until now I have been a volunteer, both as Communications Director and President & CEO. Due to the time commitment involved, I recently asked the board of directors for compensation for my work going forward as I serve the board of directors and you, the shareholders. They met apart from me and last week agreed to compensate me on a part-time basis.

Beginning 2017 I will be paid at a rate of $100 per hour with a cap of 30 hours per month billable, regardless of how much time I commit. If there is any change in this, you will be notified."


#1274

I do like this part of Kevin’s message:

Prepare the company for an exit event or for the long-term distribution of dividends should the market not fairly value our stake in AURYN.


#1275

As requested.