The Mining Play

Medinah Minerals (MDMN) - 2017 Q1General Discussion

Nice reply Mike.

1 Like

Nothing to see here… :slight_smile: :slight_smile: :slight_smile: :slight_smile: :slight_smile:

5 Likes

This report goes back to Q4 2009, the investigations was suppose to go back 15 years. It would be interesting to see when and where the one line became two lines. I also find it interesting that this was already going on before they announced the 10% stock dividend payable on April 3, 2012 at that time they increased the authorized share count from 1.5 B to 3 Billion… From the chart it looks like at that time of the increase in authorized share count to 3B from 1.5B we were somehow already over the old authorized share count, Not sure how that is possible, but that is what the chart shows. The following are some of HR notes from that shareholders meeting in February 2012 when they increase the authorized share count and announce the 10% stock dividend as well as paying off the debts to Chapin and Les and JJ. This really seems bizarre considering where we are today!

We will be increasing the AS(authorized shares) for thel possibility of debt settlement , compensation, and new $$$ for acquisitions. The new OS will be 3 billion shares—of different classes of shares. We want to be able to control our own destiny. LR said “no one says we are going to use the shares because we have them available”.
Bald Eagle questioned the dilution and taking on more risk; why, when we have the Lipangue, why take on more risk? LR didn’t disagree; he also reminded us pink sheet stocks are a risk.
GC then spoke and stated only reason for 3 billion shares is authorization , not issuance. Any issuance would be done if the action increased our value. GC stated they care about us and our value($$).
A SH reminded GC that a stock dividend will increase the naked short position(NSS). GC kept speaking and stated when able, a cash dividend would be something they would like to do.
GC stated twice the current OS(shares outstanding) is 711 million.

Steve Kleen said the 3 billion increase was a favor to us, to increase what they need to do on our behalf; that he commended them on their foresight. He said one reason he bought in was the strength of management, and that reason remains.

2 Likes

Ahhh the days of 711 million shares. That’s when I first bought my shares. Where would we be today with that amount?

1 Like

This all makes me consider that the TA was involved in the scam as well, since at the shareholders meeting they had a representative to count the proxies and shares represent in person. I believe the number came to 1.2 Billion and everyone assume the difference were shares shorted when it was actually Les fraud activity.

4 Likes

I was behind Les in the line at that meeting and I saw him report that the Board of directors held 720 million at that time. They held the controlling interest then.

4 Likes

I just wonder how many of those fraudulent shares went to Dr Kleen and how the TA and everyone else on the board did not know that we had already reached the maximum issuable shares under the 1.5B authorization. Then to pacify shareholders they gave us a 10% stock dividend. BTW where in the world did all the cash go from these stock issues?

5 Likes

Cigarettes…

9 Likes

Baldy I do remember when you stood up to question the increase in the authorized common share count and I also remember I was against it as well as the preferred shares. Too bad no one started to dig into those numbers back then and too bad the TA representative did not state the actual issued common share count.

5 Likes

I do not understand why Les is still walking around as a free man
This case should be a slam dunk

5 Likes

Who was the TA?

The same one we have now as I recall.

1 Like

American Registrar & Transfer Co.

2 Likes

Medinah should of gotten rid of this transfer agent last year when the discrepancies occurred.

1 Like

They probably will once everything is settled, but right now they need them to help in the discovery process since other than Les they are the only ones that know when and where shares were issued and to whom!

1 Like

SHAREHOLDER UPDATE January 31, 2016

Dear Medinah Minerals, Inc., Shareholders:

Members of the Medinah Minerals, Inc., Board of Directors and Medinah Mining Chile’s Trustee (both Medinah Companies, being collectively referred to as the “Company”), travelled to Santiago, Chile, between the dates of January 17-24, 2016.

The purpose of the trip was to attend to various legal and administrative matters relative to several agreements in which the Company has either a direct or a vested interest.

Legally bound by an Option Agreement, the Company cannot engage in the first release of specific information concerning AURYN Mining Chile, SpA’s (“AURYN”) activities on the Altos de Lipangue Plateau (“ADL”). AURYN, a private company, reserves the right to disseminate information to the public at its own discretion.

The Board Members and Trustee were engaged in necessary business meetings throughout their time in Chile, both in person and telephonically, with all parties involved with the ADL. After many meetings and negotiations between all parties involved and multiple trips to Chilean Notaria’s, an amalgamation of the NUOCO, Caren and CDCH interests on the ADL plateau occurred. It is important to note that the position of Medinah Minerals, Inc. (MDMN) is currently unchanged. MDMN still possesses a 15% interest in all AURYN production from property claims. At this point, Medinah Minerals Inc. continues in its Option Agreement with AURYN that calls for the payment of a minimum of $100 million US funds while maintaining a > non-dilutable 15% interest in AURYN holdings. Based upon the positive results published by AURYN, negotiations are ongoing between the Companies to consider AURYN’s outright purchase formula for the Company’s Altos de Lipangue (“ADL”) property claims at a much higher ownership holding that would enhance Medinah’s long-term prospects.

Due to certain cost-prohibitive tax and cost issues, the Company opted to streamline its interests and vacated its ownership position in the Madre de Dios properties.

Additionally, during this trip, the Company met with and retained the services of a highly respected Chilean Mining Law Attorney, Jose Manuel Borquez, to provide legal services for Company matters.

Further developments will be reported as they occur.

Gary Goodin, Director
Medinah Minerals, Inc.

2 Likes

Hi Hulk,

When studying the time line given to us yesterday, I’m starting to wonder if the 2 Day brothers that took over the T/A office upon their father’s death got handed a hot potato in which they could either trash their Dad’s reputation and come clean or cross fingers and play along. Les and the Dad, Richard Day, go way back.

Most of the news releases specific to the terms of the original agreements have been deleted from Medinah’s and Auryn’s websites (for whatever reason) but many, like the one above, can still be found online. What I would like to know: when did the “non-dilutable” factor go away. We gave up the $100M because we never thought they had the money but there were many discussions on this board about the importance of having equity that couldn’t be diluted because otherwise, God forbid, AMC could simply issue capital calls and dilute us to zero.

Simply stating that Les fabricated things is not a feasible explanation. Notice Gary signed this new release and its only 12 months old. What happened???

And this is what AMC did and how they would respond despite misrepentation from Gary, Les and he rest of the crew

“As per the announcements of both companies on May 16, 2016, the option agreement was cancelled and MEDINAH and AURYN reached a sales agreement in which MEDINAH exchanged our 100% ownership in approximately 3,000 hectares for 25,000,000 shares of AURYN and a 5-year option to acquire an additional 5,000,000 shares of AURYN for $50,000,000. The 25,000,000 shares represent a 25% equity stake in AURYN. Additionally, MEDINAH retains its 15% ownership in NUOCO.”

4 Likes

So everyone here has a cost basis under .013???

Doubt it.

This is why we, as shareholders, need to see all the agreements, as executed. It’s called “transparency”.

2 Likes