The Mining Play

Medinah Minerals (MDMN) - 2017 Q1General Discussion


#1257

We’ve been hearing about partners and trucks on the mountain for years
We’ve had 3 truckloads reported with acceptable grades and another 6 we heard went out but suddenly went silent re results
We’ve heard about the experts visiting the site but then no follow thru
We heard we should be getting into gold veins in March then nothing
I’ve been waiting years to hear we have revenue but instead we now have $2M to pay back
Forgive me if I’m sounding impatient


#1258

You are right about the silence, there’s plenty of things happening on the mountain according to the previous updates, there must be something to report.


#1259

It is still March.

After all, we did get this: http://aurynmining.com/wp-content/uploads/2016/01/Chile-Exp-Rpt-Mar-2017.pdf


#1260

Here’s a link I found interesting, given our current situation and stabilizing the financial structure of MDMN and moving forward with our focus on Auryn’s mining potential.

Please p.m. me if you have any comments.
Peter


#1261

Report him if we can’t get our money back, otherwise there is less to get back if it is taxed, JMO


#1262

COMMODITIES

Company News
13m ago
Goldcorp buys Exeter, teams with Barrick on Chile mining projects.

Wouldn’t be nice if we HEADLINED LIKE THIS, Jake.


#1263

Actually, I think those 2 companies are interesting in the Alto. Recall, there was some other very large companies as big/bigger than Freeport that were sniffing around.

We do know for sure that Barrick knows all about the Alto from previous times. They wouldn’t touch it previously due to how Jorge L. was connected to Medinah and the trouble he was causing Barrick at the Pascua property. However, with Auryn now fully in control…who knows?


#1264

.0045 BID ASK .005 How can these shares continue to be dumped at this price??


#1265

The .005 ask was completely bought out when someone attempted to buy 500,000 shares at .005 and now we are back to the .0059 ask with the buyer still looking to get his remaining order filled at his .005 bid.


#1266

Even with all its warts the Medinah stock price will start to reflect on the Auryn’s IPO offering. I wonder if the price will be supported as we near the IPO. It would seem that as good information comes out in preparation for the IPO someone will want the good news reflected in Medinah’s value, as it will reflect on Auryn. On one hand Auryn seems to ignore the market, on the other hand they will want a successful offering.

Another approach may be to eliminate Medinah prior the offering and get rid of the stink.


#1267

Hi Mike,

We learned at the informational meeting in LV that a certain famous NY law firm that represented one of the 3 majors that at the time (Oct. of 2016) were kicking the tires at the ADL had told their mining major client to steer clear of making any moves until JJ was gone. They (I’m assuming FCX) had reportedly been interested in the ADL for 15 years but was apparently fed up with JJ’s games.

When the Dick Sillitoe visit was announced the PR said that his follow up report was to be used for “internal purposes”. This got me thinking that perhaps somebody else, like one of those 3 majors, hired Sillitoe and thus would become the owner of his “work product”. They would obviously have to share the report with AMC and Medinah but perhaps didn’t want to share it with anybody else like the public and/or a different major miner with an interest in the ADL. If the report says what we think it will say then I’m sure Maurizio is going to want to use it in conjunction with the IPO.

We were told at that meeting that the other 2 majors (in addition to Freeport McMorann) were “larger” than FCX. What we don’t know is what “larger” refers to. There aren’t 2 majors in existence that produce more copper than FCX. Perhaps “larger” refers to market cap.


#1268

Well, we know that Codelco has been sniffing around ADL for decades. I can’t imagine they are not interested or involved in examining ADL now.


#1269

Wow somebody hit the BID Hard then 1000 ASK goes through @ .0059 Low .0037 Just sick!!


#1270

Yikes…About a month ago we were heading north again and were trading over .009, looking like we were going to get back over a .01. Today we almost hit our 52 week low…What happened? Has anything changed?


#1271

Yes…great opportunity to buy.


#1272

You are so correct MG and flip.


#1273

I am sure a few here are good at that but I’m not so don’t even try.

Rather, my thinking is that the conversion of Medinah shares to Auryn shares won’t be affected by the current low share price of Medinah. (It’s percent ownership of Auryn between now and the IPO isn’t going to change.) Further, the share count of Medinah still has a decent chance of going down significantly by then which would only increase the conversion in our favor. Hence, low share price = buying opportunity.


#1274

At this level (.004) I would agree that MDMN is probably trading at a discount to fair value. As long as AMC IPOs with a market cap exceeding $50M (MDMN at .004 reflects a $44M market cap for AMC). I have no idea if the market will support a $50M valuation. This will totally depend on what develops on the mountain b/w then and now.

The discussion of a JV are great but it’s important to understand what a partnership like this would ultimately lead to. An industry standard deal would split the asset 50/50 until the senior/major hits certain spending milestones which would then tilt the split to their favor. With successful results, a lot of time and money, MDMN would end up with a NSR (1-3%) of the original claims/assets. Not bad for a mine that’s generating $100M+ in revenues but very important to keep in perspective.


#1275

The rumored amount is something like $190 million but that number is probably false and even if it wasn’t; it really depends on exactly what production is from the gold mine(s) at the time of the IPO. If they are pulling truck loads of bonanza grade gold out of the Caren, a higher valuation will be obtained. On the other had, if the valuation comes in low, the potential for Auryn stock to appreciate significantly with future developments at the Alto remains very high. Even some minimal success at the Caren could help Auryn avoid further dilution. This suggests Medinah investors will actually do well in the not to distant future if they stick it through the share conversion and give them more time to develop the deposit.


#1276

Les are you still dumping :rage:, hope not, you are in enough trouble now, don’t sink further.