Medinah Minerals (MDMN) - 2017 Q1General Discussion

Individual Stocks Medinah Minerals (MDMN)
1214

Does anyone expect the Okanadian lawsuit to be dropped?
The amended answers, counter claims and cross claims were filed and granted earlier this year.
Of note is that discovery does not close until August 10, 2017 (pg 10).
Even though the original complaint by Okanadian states it is exempt from arbitration and a jury demand is requested I don’t think this is likely. Justification for no arbitration is because the amount of the controversy exceeds $50,000. After re-reading the amended filings including exhibits A and B it is hard to imagine that the case will go to a jury trial. It is well worth reviewing the amended answers.

2016-02-26 — Initial Complaint by Okanadian against Medinah Minerals, Les Price, MMC Mines, et al.
2017-01-19 — Medinah and Goodin Motion for Leave to Amend Answers and Add Counter / Cross Claims (granted)
Jak167 (and HR) gave eloquent and long analyses shortly after the fillings were posted if anyone cares to review 1st impressions.

Was this simply Medinah’s attempt to circumvent the requirement and expense of a jury trial? The amended answers and response clears this up. Medinah is demanding judgement in favor of Medinah on all claims and be awarded attorney’s fees, and disgorgement of any funds received by Price and MMC, compensatory damages, punitive damages and exemplary damages.
Medinah never received $100,000 Canadian from Okanadian, it was received by MMC (pg 12)
Note that Medinah’s wholly owned subsidiary was an entity known as Medinah Mining Chile (or Sociedad Contractual Minera Medinah Mining Chile), not MMC Mines, Inc. which is a Canadian entity and Les Price is the sole owner and President of MMC.
MMC is not and never has been a subsidiary of Medinah.
The $100,000 was sent directly to MMC Mines.
Okanadian had purchased shares of Medinah on 30 other occasions, none of which had the impossible discounts alleged in this lawsuit.
As stated by Jak167, one of the strongest arguments in favor of Medinah (there are too many to briefly enumerate) is the impossibility requiring the tendering of 14 billion shares after conversion.

I expect discovery in this Okanadian case was very beneficial in not only filing for the removal of Kowarsky as counsel in the three suits filed in British Columbia, but may also result in dropping of the suits brought by GXK Ventures and Les Price for obvious reasons. I would hope that Medinah’s suit “Medinah Minerals vs. Les Price, Pamela Fitzpatrick, MMC Mines, GXK Ventures, et al.” would carry on and result in a judgement in favor of Medinah.

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1216

Just a couple of questions if anyone cares to answer…
Since Okanadian has purchased (private placement?) shares of Medinah on 30 occasions over the years,
could they be the conduit for dumping shares methodically to drive PPS down in the past or recently? Does the current lawsuit bar them from trading any shares in their corporate account?

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1217

If the shares are in cert form there is no way that Day would provide them or any other entity with the ability to freely trade those shares. If the shares were already converted into “street name” before this whole fiasco was uncovered than there is no limit to how many shares they would/could unload. However, once they legend is removed the seller typically sells (doesn’t wait six months to sell).

1218

I am also a long , long holder of CDCH shares and hoping that management takes John’s advice to improve their fiduciary responsibilities. However, in the interim, when the CDCH SP is so low, how reckless a decision would it be to buy more shares ?? Just looking for some advice and please no heckling, keep it respectful, be kind. Anybody?

1219

Exactly! The certs from private placements in years past would have been converted over previous years (30 private placements?) into readily tradable shares in the market. Has anyone added the total number of shares that have been purchased by Okanadian, or looked to see when conversions took place? Were any of these shares available to trade during the run-ups prior to the two failed JVs dating back to 2010? Plenty of food to feed any conspiracy theorists out there.

One other takeaway is that it has been alleged that the bulk of shares purchased and not accurately reported were purchased (possibly unknowingly) through MMC Mines, Inc., the Canadian entity that Les Price is the sole owner and President of and not Medinah. Apparently, monies went directly to MMC Mines, Inc. (Les’s pocket) in exchange for shares of Medinah issued by the TA, but not reported on quarterly reports. Was the company purposely and deceitfully named MMC Mines, Inc. (MMC for short) precisely to create confusion and conduct fraudulent activity? It gets even more confusing if one looks deeply into the conversion of JJ’s 49% ownership of Medinah Mining Chile in exchange for shares of Medinah Minerals in August of 2013.

1220

Geologist Behind Fruta Del Norte Now Looking For Two ‘Lost Cities Of Gold’ In Ecuador

Thursday March 23, 2017 13:16
(Kitco News) - The geologist behind Lundin Gold’s Fruta del Norte, a nearly 5 million ounce gold project, is heading back into the Ecuadorian jungles to find potentially two “Lost Cities of Gold.”

While the proposal sounds like a script for a new Indiana Jones movie, geologist Keith Barron, president of Aurania Resources (TSX.V: ARU, said in an interview with Kitco News that his latest project is more than just a mythical story.

After almost two decades of research, which included going through the Vatican archives, Barron said that he has historical documentation that the cities, which were actually gold mining towns – founded by Spanish Conquistadors in the mid-to-late 16th century – existed and could prove to be significant deposits. He added that some documents suggest that these mines were in operation on and off for almost 30 years.

“We got enough documentation behind us that we are able to put together the history and the geology that really makes this story compelling,” he said.

Barron explained that his geology team is planning a massive exploration project of 208,000 hectors in the Andes foothills, known as the Cordillera de Cutucu. He said that his research suggests that this mountain range is the location of the two historic mining towns: Sevilla del Oro and Logro ño de los Caballeros.

According to the research, the two mining centers are the last of a total of seven “lost cities” in Ecuador that have yet to be discovered. Ecuador’s historic Nambija mine in the south-eastern part of the country was also one of the seven of these lost mines. The mine was rediscovered in the early 1980 and produced, on record more than 2.7 million ounces, said Barron.

“In the historical narrative these two lost places were considered to be much richer than Nambija… but nobody really knows what that could mean. These records have been lost to history,” he said. “If there was on and off activity there for 30 years or so then you know they were more than just placer deposits,” he said.

Although it is uncertain whether Barron will be able to find the two lost cities, he is confident that he will find some resources in his property. He said that there are are indications that the Cordillera de Cutucu is part of the same minerology as Fruta del Norte.

“It is really a stretch of anyone’s imagination that there couldn’t be a couple of potential gold mines in the northern part of the belt that contains Fruta del Norte,” he said.

Armed with their historical and geological data, Barron said that they are now preparing their exploration plan, which will include using radio metrics and magnetic resonance imaging. The team is also planning an extensive surface program to analyst stream sediment.

“We are going to tacke this in a technically sound manner,” he said. “We will get anomalies and work them up to see where they lead,” he said.

Using New Innovation To Locate The Lost Cities

The second part of intrigue to this story is that the company is using new technology, raising capital through crowdfunding, to locate these historic mining camps.

Aurania has been listed on Canadian-based Klondike Strike, the new online investment platform created by RedCloud.

Chad Williams, president of Redcloud, said that it the project is resonating with potential investors because it is unique project.

“So far it has been the best campgain on Klondike Strike. It is a story that can appeal to all senior fund managers. It is backed by a geologist who already has a proven track record but there is a little bit of history and a little bit of mystery.”

Williams said that the projects location, Ecuador is also a significant factor that is attracting investment dollars, especially after the successful development of Lundin Gold’s Fruta del Norte property.

“A lot of people feel that Ecuador is an untapped resource and investors are looking for these types of opportunities,” he said.

Yes and you can tell the investors it is called Alto de Lipangue in Chile by Auryn Mining!!

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1221

Looks like Les is getting foreclosed on.

Case Basics.jpg772×571 136 KB

This case was filed against his corporation and him personally Monday. Maybe he hasn’t been served yet. I hope this posting doesn’t come as a surprise.

Parties.jpg777×572 125 KB

It looks like the petition to the Court is not available to view yet.

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1222

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Link

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1223

Nice find Newleaf.

While this foreclosure perhaps hints towards Les’ growing financial issues and a gaping hole in his ability to continue paying legal fees for his lawsuits, it also indicates that there might not be much in damages that Medinah can actually recover from him even if the courts rule in Medinah’s favor.

I’m guessing the only way MDMN investors will get closure from his antics is if the FBI or SEC goes after him.

As a side note, I’ve always wondered what his children think of him and his actions.

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1224

HR, I think you are correct in your assumption that Les is probably nearing financial insolvency. Please indulge me in this theory and let me know if I’ve gone full blown conspiracy nutcase.

Les has been scamming people for decades. This man clearly knows how to do it and how to profit from it. Do you think that he is smart enough to hide some of his ill-gotten gains away in offshore accounts, physical metals, and other places that can’t be easily discovered? I’d hate for him to declare bankruptcy, get his debts wiped clean, and then show up on Grand Cayman, sipping pina coladas and dining on shrimp and fillet mignon courtesy of US!

Am I off base? I’d prefer he was an idiot and will live the rest of his live in poverty but something tells me karma won’t be so kind to us.

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1225

Wouldn’t it also suggest he’s no longer selling shares to pay off debt?

1226

You’re not the only shareholder who has thought of those things. I’m sure Price picked up a few tips on how to hide assets and rip people off by hanging out with Ulander.

1227

Agreed. As we both mentioned previously, I feel Price underestimated MDMN’s ability to fight his litigation and looked to bankrupt MDMN thus dictating his terms to MDMN. Also, don’t under estimate MDMN’s motion to remove Price attorney. I feel he had a special insider deal going with the attorney which was how he could keep pressing forward with the litigation. Now, he has to come up with big money for a real attorney. Money he doesn’t seem to have.

IMO, right now, regardless of whether Price has assets upon which MDMN can collect upon a judgment, MDMN needs to get the legal matters resolved and judgments and/or settlements completed. Any judgment and/or settlement will vindicate MDMN’s position. Once the cases are complete, MDMN immediately gains credibility and can focus upon moving forward with Auryn, not trying to clean up a pile of s**t. Since Price now seems to have money issues, IMO MDMN should really push forward hard on the legal front to break him. IMO, once MDMN has a judgment and/or settlement in its favor and Price doesn’t pay, MDMN can take its time and try to secure payment and a reasonable expense.

IMO it would be very difficult, if not impossible for Price to successfully discharge MDMN in bankruptcy. Bankruptcy will not discharge a debtor if the debtor has committed a fraud or other malicious acts which resulted in the debt he is trying to discharge. Based upon MDMN’s legal filings to date, if MDMN has half the stuff they allege, they should have more than enough to prevent Price from discharging MDMN based upon fraud.

Therefore, I posted previously, he may have assets socked away in the Cayman’s, but it doesn’t necessarily protect him. Price would not be immune from the court’s power over him. So, unless he wants to spend his money, he wouldn’t be able to avoid a contempt of court proceedings for failing to comply with a court order. A court can sentence him to jail for contempt, with the purge being compliance with a court order, which just happens to require him to turn over shares of MDMN stock back to MDMN, for example. This contempt would not be collecting upon a money judgment. If he doesn’t turn over the shares of stock, then he sits in jail until he does.

Further, MDMN would have the option of going to any “cayman-like” like jurisdiction and renewing its efforts against Price there. Just because he has assets in a 'cayman-like" jurisdiction doesn’t mean he avoid their laws.

Options exist, they may not be quick, they definitely would not be cheap, but they exist.

IMO first, MDMN needs to stop its own bleeding and get the cases completed, even if MDMN does not get every last penny back from Price. Finish it. Move on with Auryn. Figure out how to deal with Price later.

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1228

Funnyman,

In my opinion, if you have to ask, you already know the answer. Not being a smart ass at all here.

1229

Thanks Rich. You are probably correct. I will try another approach. Can anybody recall anyone preparing some form of objective recent analysis of CDCH’s pro and con investment metrics?

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1230

lol

1231

I think CHG indirectly brought the subject of money laundering up last year :smiling_imp:
Kinda ties in, in my mind anyway, where money from MMC Mines, Inc., Les’s Canadian entity (Les Price is the sole owner and President of MMC) was shuffled. Part of the Les and JJ ATM machine?

Continuing the discussion from Medinah Minerals (MDMN) - 2016 Q4- General Discussion:

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1232

Lots of money and shares moving around -all these years and the sad thing about it is nothing to show for it. FU LP!!

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1233

“You have no idea how vile the U.S. federal (court) system is. It is garbage – just pure garbage,” stated Mr. Price.

Hopefully someone remembers or is made aware of this.

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1234

It was my understanding that the TA was gagged.

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