Nice block to buy at the bid.
The ânot niceâ concerns have already been confirmed. Unlike the broken record of dividends and disconnects thereâs not much more to be discussed until there is clarity on the capital structure which will overshadow anything on the fundamental front until we have visibility. As some have already pointed out, some of the positive action on the mountain is actually being âheldâ until we know more about the 3B pound elephant in the room. It makes sense to avoid wasting bullets until MDMNâs house is in order.
As for the stifling conversation, it seems like many folks around here donât have much to say unless itâs commenting on otherâs opinions. The proverbial peanut gallery needs other people to post b/c they lack the ability to originate content on their own.
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Why post things others are bound to berate ( now your berating others for not posting), itâs all hypothetical anyway. No update on the progress of the mountain or of the stolen shares,. Better just to wait until itâs time to do something else.
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OT: Perhaps of interest ⌠On October 1 the Chinese renminbi will be freely usable in the SDR basket, comprising 10.92 percent, and included as a fifth currency, along with the U.S. dollar, euro, Japanese yen, and pound sterling. Will price of PMs be affected?
Interesting question! In my opinion the downfall of the dollar as the currency for international trade by itself will have a major impact as far as the price of gold goes in USA dollar terms. I still believe there will be a major dollar crises as more countries will no longer hold the dollar as their major reserve currency. âŚ
The following article was out more than a year ago.
It contains some very interesting information and charts. Draw your own conclusions on the effect this will have regarding purchasing power of the US dollar and the price of gold.
Gold Flows East â India and China Import Massive Quantities of Bullion from Switzerland
âGold exports to China from the refining hub of Switzerland almost doubled to 46.4 metric tons in Marchâ, up from 23.6 tonnes in Februaryâ according to Bloomberg. Indiaâs gold imports from Switzerland doubled to 72.5 tonnes in the same period.
Sooner or later our total debt will cause the dollar to fall and gold and silver to rise. Itâs that simple and our total debt is not 20 trillion.
GreatâŚIâm hanging out with a bunch of wingnut gold bugsđł
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Do we stay above .01 next week? Or do we trade below .01, which could be very dangerous territory. We do not need any panic selling at this point. Our meeting can not get here soon enough. We need some serious questions answered, and some solid looking forward information releasedâŚ
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Yep. Hung out with my âwingnut gold bugâ dad through the 70âs and had to move to a remote spot in the Ozarks. He wasnât stupid, I learned so much and I still hold gold as an investment.
Looking back, it was kinda fun!
Hello. I look forward to seeing many of you in less than a couple of weeks. We are expecting a decent size crowd with over 150 registered.
If you are an MP reader, would you mind answering both of these poll questions. I would like to get a sense of the integration of shareholders between MEDINAH and CERRO and what percentage of MP readers are coming to the meeting.
Thanks!
Which stock do you own?
- MDMN Only
- CDCH Only
- Both MDMN & CDCH
0 voters
Are you attending the AURYN informational meeting?
- Yes
- No
- Maybe
0 voters
Iâm very much looking forward to this meeting. I think many questions will be answered and all of us will come away with a much better sense of what is going on with MDMN.
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I keep getting the message, âBody is invalid; try to be a little more descriptiveâ
Rod,
First of all, please send all complaints about posts to the moderators in a PM. Do not post it on the main forum as it is off topic and will get deleted.
Secondly, do not assume that because your post is deleted that it was done so because any moderator disagrees with it. The moderators are not censoring any content relevant to Medinah. However, your post contained specific political solicitations that are irrelevant to MDMN and the moderator rightfully removed it. Political viewpoints are not permitted in TMP as that discussion always devolves into off topic and heated responses that detract from the discussion of Medinah. There are plenty of forums on the Internet that welcome political discussion. TMP is not one.
Lastly, NEVER POST IN ALL CAPS. That is akin to shouting and the message will not be taken kindly by the intended recipient.
Feel free to repost the message minus the political commentary.
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Looks like the vast majority of people who frequent this board are not going to the informational meeting. For those that are going, it might be nice to inform folk about this message board and encourage them to sign up. I wonder if printing up some small business cards with the address and handing them out might drive more traffic to this site and get more shareholders in touch. I would personally like to connect with what appears to be a large block of silent shareholders.
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By default there is a minimum number of words required for a comment to be posted. Not sure exactly how many.
Here is some geo-drivel for the geo-geeks that want to prepare for the upcoming AMC presentation at the SHM:
Iâve had a tough time relaying to some of my colleagues WHY Iâm so excited about not just the Caren Mine and those âbonanzaâ grades but also the entire epithermal vein system in the Caren/Merlin/Fortuna area. For me, it has to do with the nature of these âsheeted veinsâ, the grades found to date via both surface trenching and deeper production, potential tonnage suggested to date and the anticipated grades of currently unexplored vein material knowing how these veins form and what was found via the surface trenching campaign.
In the Caren/Merlin/Fortuna area area we have about 5 very long and somewhat parallel veins. In porphyry systems, these types of veins are sometimes referred to as âparallel sheeted veinsâ or âen echelonâ veins. At the ADL they strike at surface in a NNW to SSE direction excepting for the Merlin 3 Vein which strikes E to W. This âbridgingâ phenomenon between two parallel fault systems (the Fortuna and the Merlin) is common in epithermal deposits.
The surface trenching program AMC completed was fairly exhaustive. Prior to this campaign Medinah and ACA Howe had identified about 400 meters of these epithermal veins making it all of the way to surface. AMC not only increased this figure to over 5,000 meters of veins making it to surface they (and ACA Howe/Medinah) also identified (via IP/CSAMT geophysics)several underlying âsubparallelâ veins that didnât quite make it to surface. In the Fortuna/Merlin area the veins are packed densely enough to justify an open pit primary mining methodology.
Of the 5 veins, we know the most about the easternmost vein i.e. the Fortuna Centro Vein. Production from here averaged 64 gpt gold ( a very large number) from 1940 to 1970. This came from the first 100 meters âdown dipâ which represents about 70 meters vertically. ACA Howe tells us that nobody has even scratched the surface at these âFortuna Veinsâ in total.
The vein we know the second most about is the Merlin 1 Vein at the site of the Caren Mine. The 3 adits drifted into the northern downslope off of the plateau at about the 120 meter depth level below the plateau revealed numerous âbonanzaâ grades, many over 100 gpt gold across the width of the vein. The Merlin 1 Vein is traceable at surface for at least 1.8 Km and the average width is just less than 1 meter.
If you think of these veins as basically enormous sheets of plywood averaging a little less than 1 meter in width, most over 1 mile long and about 400 or so meters deep (as per the IP studies) the question becomes are the âbonanzaâ grades witnessed in the 2 veins studied the most to date to be expected in the other veins.
First of all, we have to keep in mind that the surface trenching revealed 1 to 4 gpt gold RIGHT AT THE VERY SURFACE WHERE YOU WOULDNâT EXPECT GRADES THIS RICH. Why is this? Itâs because in these systems the gold is typically located at a depth where the hydrothermal fluids are allowed to âboilâ. The energy released from the boiling breaks the bond between the gold and the sulfur that it travels with in âthiosulphate complexesâ. These âboiling zonesâ average 300 to 600 meters in width. Depending upon the erosion levels, typically the grade of the gold above these âboiling zonesâ tapers off to near zero at surface.
One of the better articles written about these types of epithermal veins and the grades to expect at various depth levels was written by Dr. Morgan Poliquin of Almaden Minerals fame. In regards to these âboiling zonesâ and the vein grades to expect in and above these zones he states:
"In low sulphidation veins, protracted boiling of these fluids produces high grade gold (greater than one ounce [31 grams]gold per ton) and silver deposits over vertical intervals of generally 300 to 600 metres. Within this vertical dimension, gold grades can be very high and result in large amount of easy to mine gold in a narrow compact area.
TEXTURES & GOLD PRECIPITATING PROCESSES IN LOW-SULPHIDATION EPITHERMAL VEINS
The formation of low-sulphidation veins can be quite dramatic and results in minerals being precipitated and transported along several different faults above the depth at which the fluids start to boil. As quartz crystals precipitate in a particular fault, the fracture gradually becomes sealed. When this happens the boiling fluid finds another fracture along which to rise. In the meantime gases build up in the fluid underneath the sealed fault until the pressure ruptures the closure. At this point the pressure changes rapidly resulting in catastrophic boiling.
This type of violent phase separation results in gold, a distinctive bladed form of calcite and fine grained gel-like silica (amorphous silica) all precipitating rapidly and being swept along by the moving fluids. Eventually the fluids return to equilibrium and quartz crystals begin to precipitate under passive conditions, sealing the vein again until the entire process repeats itself. The episodic nature of quartz precipitation, rupturing followed by gold precipitation, results in banded veins [like those at the ADL] with each band representing a different phase in the process. The bands of coarse quartz crystals represent passive conditions. Bands of bladed calcite, fine silica (that has over time turned to quartz), and dark metal rich sludge (containing high concentrations of gold in the form of electrum), precipitate under conditions of violent boiling and fluid flow. The catastrophic boiling seems to happen only within a narrow vertical interval, generally about 300 to 600 meters thick. This is the high grade productive part of the vein system which I will refer to as the âore zoneâ.
By virtue of the fact that the gold is transported, increasingly smaller amounts of gold are found at elevations above this level. Finding anomalous, but non-economic amounts of gold in a vein that is clearly eroded to a level above that of the ore horizon is viewed as a good sign of the potential for high-grade gold below.
Since gold is not transported by either the gases or sulphuric acid, the silica cap [like that at the ADL] is usually devoid of gold [clearly not the case at the ADL] although generally highly elevated in mercury, arsenic and antimony. [end of quotation]
This particular epithermal deposit at the ADL stands out because of the lack of erosion of the 4 basic layers to these veins. All 4 layers remain intact. In many epithermal systems even the âboiling zoneâ above the causative porphyry has been eroded away. In trying to predict if the grades found in the unexplored areas of this vein system you need to recall how these veins form as we just learned from Dr. Poliquin.
A 1 meter wide vein used to be a 1 meter wide fault/crack in between adjacent rock structures. Extremely hot hydrothermal fluids rise through these cracks and solidify near surface where the fluids are allowed to cool. When they solidify they will âsealâ (at least temporarily) that crack and the underlying hydrothermal fluids will simply meander over to nearby often parallel cracks. The contents/grades of the metals dissolved in the fluids do not change as they move laterally past a âsealedâ crack/new âveinâ and upward through the pathway of least resistance. To my knowledge, there is no geoscientific reason why anybody would expect higher or lower grades within a family of âsheeted veinsâ than those found in the 2 best studied of these âsheetedâ veins that both showed stellar grades at depth (where the âboiling zoneâ is located) ESPECIALLY IF THE SURFACE ASPECTS OF THESE VEINS SHOWED 1-4 GPT GOLD. Just as Poliquin taught us that the gold grades above these âboiling zonesâ tapers off to near zero the reverse is true when you have 1-4 gpt gold at surface. Keep in mind that the average gold grade in a porphyry structure is 0.38 gpt gold which is usually found at 1.5 to 3.5 Km below the surface. Finding 1-4 gpt gold AT SURFACE doesnât sound like much when youâre used to reading press releases citing perhaps 6 gpt gold intersected at 100-200 meters of depth in a vein. Itâs the combination of those kinds of CONSISTENT surface grades with underlying âbonanzaâ grades hopefully found in perhaps 7,000 lineal meters of veins (some making it to surface and some not) is what needs to be concentrated on.
So for me, itâs the combination of over 5,000 meters of veins that made it all of the way to surface, many underlying subparallel veins viaible on the IP/CSAMT, outstanding grades at BOTH of the 2 most studied veins at depth and 1 to 4 gpt gold consistently found right at surface that is the source of my excitement. Recently, we learned that AMC found yet another vein in between adits #2 and #3 at the Caren Mine. Hopefully the grades found here will corroborate the âbonanzaâ nature of the grades witnessed elsewhere in this vein complex.
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I canât remember if itâs ten or fifteen space minimum⌠Docâs already shown THERE IS NO MAXIMUMđ
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