The Mining Play

Medinah Minerals (MDMN) - 2016 Q4- General Discussion

Kevin is being compensated by MDMN for his services conducted for MDMN. He also has a role as Communications Director for Auryn. I believe he is being compensated separately from Auryn for that role.

MDMN currently does not have cash to pay Kevin, but expectations are that they will have revenues from Auryn’s mining operations in 2017. In the meantime, Kevin can get paid from MDMN in a number of ways:

  1. Shareholder loans (this was done in the past)

  2. Deferred compensation (also done in the past)

  3. Borrow against future revenues. I don’t know how many banks would consider future ADL revenues or MDMN’s 26% ownership in Auryn as collateral, but an arms length investor such as MASGLAS might.

  4. Get compensated in MDMN shares. No matter how much others wish to raise red flags about dilution, it is closer to impossible than unlikely that Kevin gets compensated in shares at this juncture. He and the company are on a mission to claw back as many shares as possible and undo the massive dilution caused by Price. He knows the damage that dilution has caused the company. And being an officer of the company, he would be limited in how many shares he could sell. Therefore, in order to get compensated in a more liquid form, o e of the first 3 methods of paying his compensation are more likely IMO.

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Is Auryn going to give us any news before the EOY as to what’s going to happen now that we are still not processing ore per Kevin’s update

And the selling continues with another 1.5 million on the ASK .005. Actullay make it 2.3 million now.

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we’re coming up to EOY, I expected tax loss write off too offset profits in other stocks.

I think you will be hard pressed to find any sellers for tax write offs on this board. Keeping in mind, you do have to wait 30 days before buying back the stock, without losing the write off. That is of course, if you even want to buy it back. Although, the way this stock is moving, that could be a very prudent play, especially if you are able to get back in at a lower price after 30 days. That way you would get the tax write off and buy back more shares for the same amount of money. My guess is that there is primarily one seller, and we all know who that is. Get used to it…

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Not saying this necessarily has anything to do with MDMN, but I just received notice of the following re Freeport:

Freeport-McMoRan Completes Sale of Deepwater Gulf of Mexico Properties

PHOENIX–(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its Deepwater Gulf of Mexico (GOM) properties to Anadarko Petroleum Corporation (NYSE: APC) for $2.0 billion in cash, before closing adjustments. In connection with this transaction, FCX also settled a preferred stock obligation with its consolidated subsidiary, Plains Offshore Operations Inc., for $582 million.

Under the terms of the agreement, FCX has the right to receive additional proceeds of up to $150 million, to be paid as Anadarko realizes future cash flows in connection with a third-party production handling agreement for the Marlin platform.

FCX expects to complete the previously announced sale of its onshore California oil and gas properties before year-end 2016. Following completion of this transaction, FCX’s portfolio of oil and gas assets would include oil and natural gas production onshore in South Louisiana and on the GOM Shelf, oil production offshore California and natural gas production from the Madden area in Central Wyoming. In third-quarter 2016, these properties produced an average of 7 MBbls of oil and NGLs per day and 74 MMcf of natural gas per day.

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is the world’s largest publicly traded copper producer.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America.

As requested

Thanks Don, ihub has been down for the 2nd day

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It’s the Russians! :wink:

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Well 2 more weeks until 2017. Does Auryn give us any news on where they are and what they plan on doing since now we are not processing any ore before the year is over?? We shall see if they stand behind what they said at the meeting giving shareholders transparency of what is happening. As of now it’s the same ole song.

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I think this is new.

I’ll take the positive approach and guess “forthcoming” means imminent or sometime in the very near future.

16000 shares traded at .004 to open the day.

Let’s just say, if they had waited a few seconds or minutes and with a limit order they would have done better.

Time Price Volume

09:52:17 0.0047 47658
09:30:05 0.004 11000
09:30:02 0.005 5000

As requested

that 47,658 at .0047 is me. Limit Order, partial fill.

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Looks like some clean up is going on behind the scenes.

Medinah Returns AMNP Shares to American Sierra Gold Corp.


Medinah Minerals, Inc. (Medinah) announces that it has returned 20,000,000 shares of American Sierra Gold Corp (OTCMarkets: AMNP) to American Sierra Gold Corp, without consideration. Medinah Directors Gary Goodin and Italo Volante are also directors of American Sierra Gold Corp and recused themselves from taking part in this decision. Some background information regarding the sale follows.

On February 22, 2013, Medinah announced that it had acquired a twenty percent (20%) interest in a Chilean corporation, Sociedad Contractual Minera American Medinah Gold, referred to as “AMG” or American Medinah Gold. In exchange for its 20% interest in AMG, Medinah issued 20,000,000 shares of its Common stock, having a transaction value of approximately $1,200,000 at the time. AMG was founded by Medinah’s former President, Juan Jose Quijano Fernandez, and his family during 2012.

On March 16, 2015, Medinah entered into a Share Purchase Agreement with American Sierra Gold Corp (AMNP), wherein Medinah received 20,000,000 shares of AMNP in exchange for its interest in AMG.

Long after the sale of the AMG shares Medinah was notified that the State of Chile removed all title and ownership of the various JOTA claims in which American Sierra Gold Corp. and Medinah Minerals, Inc. (MDMN) had ownership rights.

Medinah’s current Board of Directors has decided the most expedient and forthright course of action is to return all consideration that was paid for an asset that was misrepresented. Further, the Board has also made the determination that the shares of AMG sold to AMNP are of dubious value and therefore are not requesting that they be returned.

Submitted on behalf of the Board of Directors

Just received an email from MDMN saying that we gave back 20,000,000 shares we held in AMNP for nothing because the underlying original asset (American Medinah Gold) apparently was a fraudulent/misrepresented asset for which MDMN originally issued 20,000,000 shares For to JJC and family.

Strangley enough, the email does not say anything about any effort what so ever that MDMN would pursue to get our original 20,000,000 MDMN share investment back (which was with JJC and family).

So, is it a fair assessment to say we MDMN investors are simply out those 20,000,000 MDMN shares? And if that is true, it’s just another kick in our collective nutz from JJC?

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Is there another step for those of us with Medinah Gold Certs sitting in a dusty drawer in Seattle and American Sierra certs at home?

There is more to the story I believe. Les and Juan are still invoked behind the scenes up to continued mischief no doubt. There are lawsuits involving Gary and the Sierra Gold with Les and Juan trying to get control of that worthless asset for some reason. It still has the placer claims but there is something wrong with them. Auryn passed on doing a JV due to title issues or other encumbrances I think but not sure. Either way it is all nonsense and no…I doubt Medinah will get Juan to cough up shares.

Throw them in the fire with the 90 million Alluvia shares we got from that other con man.

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