The Mining Play

Medinah Minerals (MDMN) - 2017 Q2 General Discussion

Guys (and girls)…it is not that difficult to understand.


The company is a whole different story, but let’s stick with the stock. IT SUCKS!!!

Most people won’t go near it with a ten foot pole. It has 3 billion shares outstanding. It has been littered with fraud that is only beginning to be exposed and cleaned up. It has outstanding lawsuits. It is much more thinly traded than when it was considered relatively active from news (fake news for Les to dump shares into). The company has gone silent for a reason and not because Kevin wants to torture shareholders. What incentive does Maurizio have for releasing news on Auryn at this point? Seriously.

Stop watching the ticker and think about it. What sane investor would go near this stock? Emphasis on “sane”. There is a large disparity between bid and ask for a reason…there is little demand on either side of the equation, so you have big swings in the price on little shares traded. This happens with thousands of low interest penny stocks every day. That isn’t manipulation. It is called disinterest and it is there for all the reasons you guys complain about for the last 6-12 months.

MDMN is a 27.5% shareholder in Auryn, nothing more and nothing less. There is no difference where this stock trades right now unless you are intending on buying or selling in the short term. Short term = prior to the inevitable conversion of MDMN shares into Auryn shares, however that conversion shakes out. Current shareholders will convert their shares into Auryn on a pro rata basis. The only thing that matters as far as your investment is concerned is the number of shares that Medinah can claw back from the Les Price fiasco and the number of shares Kevin can maintain in the O/S.

The equation of your ownership is this:

MDMN has approximately 3 billion shares outstanding. Medinah owns ~27.5% of Auryn. If/when MDMN is absorbed by Auryn and Auryn is publicly traded, that 27.5% will be divided up on a pro rata basis into the new publicly traded entity based on all entities owning a piece of pie of Auryn. Each MDMN shareholder will get an equivalent amount of shares in the new entity based on their current ownership of MDMN. Though this is not taking into account outstanding debts that MDMN has to take care of. It doesn’t matter whether MDMN is trading at .005, .05, or .50. We are getting the same percentage of Auryn shares on a pro rata basis no matter what! The only person who cares about the price is the shareholder who wants to accumulate more shares for a cheaper price or a shareholder who wants to sell their shares at a higher price. Anyone in between doesn’t really matter.

If you understand this concept, you’re not complaining about the share price because you know it is completely meaningless in the end game. It doesn’t effect your eventual ownership position in the new Auryn entity. If manipulation exists (it doesn’t), it is completely arbitrary and meaningless.

The market doesn’t matter because the manipulation has already occurred - and that was Les Price manipulating every shareholders’ hopes and dreams while he fraudulently sold shares behind their backs.

This will eventually straighten itself out, but shareholders will not be privy to it until certain matters get cleared up or certain milestones are achieved. It doesn’t take a rocket scientist to know what those things are. Until then, we wait.


I gave you an answer and you choose not to accept it. Nothing more I can do. The trading here is not normal with such low trade volume most days. I guess if it makes you feel better being angry hanging onto your price manipulation theory then enjoy it. I don’t see it. If I did I’d say so.

I empathize with your unhappiness, although we were warned that we would not be updated if there was nothing to update, or nothing that could be updated because of the legal situation. It’s the same old scenario here that has existed for years… you either accept that you invested in this mess and go about your life until we have closure one way or another… or drive yourself nuts. I made myself nuts for the better part of a decade. I learned the lessons and am at peace with this whole thing. It will either be profitable or it will not. Perhaps some will find this irresponsible of me, but my desire to be proactive faded a few years ago. I’m content to enjoy life and have a “wait and see” attitude.

Finally, since you are clearly not of the same mindset as myself, and you have a “beef”, I would think that you would focus your efforts in a direction that gives you a better chance of getting a response. Posting your angst here will get you about a 0% chance of a response by MDMN management. I’d be sending emails and making calls to the company if I were you.

Please understand that I get why you’re upset and you have reason to be, but staying this way is unhealthy and wears on the body. Is it worth your life to be constantly angry at something you have little power to change? At the very least, communicate your unhappiness to the company where you have some chance of getting a response. It just isn’t going to happen here.


DD… it’s possible that it’s MM trades, but I doubt it’s manipulation. Also, there are brokers, like one I use, that charges commission based upon the cost of the shares traded and not just a set price like the big brokers typically do. If I wanted to sell a few hundred shares in that account of mine it would only cost a dollar commission.

Bottom line for me, again, I watch the trading of MDMN every now and again and I don’t see what I would call price manipulation going on here. The volume is just low and so you get those wider spreads when there are few participants.

Take care folks.


As usual, you do a much better job of explaining it than I do Rick. Nice job and thanks!


Rick I have a lot of respect for you and you are correct on several points, but come on now we have not heard what’s been happening for months on the mountain. Pictures no longer being posted Auryn gone silent. Are we mining? These are questions that can be answered with a simple update. Yes it’s not going to raise the SP, but it will show that there’s some transparency to us shareholders. Not too much to ask for


This is exactly what many of the incessant complainers don’t seem to get. Those that have significant positions here aren’t going to sell or bother taking on more risk. There is a significant risk that all obstacles will not be overcome smoothly, but the change of management is working through them with the limited finances available. This is pretty much an all or none end game for current Medinah shareholders, IMO. The risks have been enumerated multiple times here on the forum, so I won’t get into them, but the PPS the stock is trading at is not presently a major factor, although the fraudulent dilution and cooked books are.

My thoughts regarding AURYN are as follows: If AURYN goes the F-1 route to IPO as announced and becomes free trading, there are certain rules that would need to be followed under it’s own ticker. I won’t go into great depth on it as regulatory links have been presented several times. If the F-1 application is accepted and an IPO issued, it leaves the door open for having two classes of shares, not necessarily restricted to the current 100M share structure of the private company, which would (could) become the restricted control shares. The number and price of free trading IPO shares would be priced by an Investment Bank, which I’m sure AURYN has contacts with. Ideally, dividends or a buyout of Medinah’s and Cerro’s shares would occur after AURYN becomes fully reporting and climbs from the OTCQB tier to the OTCQX tier sometime later. Once on the OTCQX they would automatically have access to the international markets which I believe is AURYN’s eventual goal.

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Any value in Auryn attending this…

And I think it’s been made clear by both companies that the transparency that you (and I) and everybody else really wants is on hold until current issues are cleared up - both legally and structurally with the company. Is their silence going to force anyone to sell?..I doubt it. Any shareholders holding now presumably are in for the long haul whether they like it or not.

If you contacted Kevin via, as I’ve suggested to shareholders multiple times in the past, he would probably answer similarly which is why I resort to more tersely worded responses, which I’d rather not write. People get tired of shareholders complaining about the same thing on this forum when it really accomplishes nothing except for the person to let off some steam. I’d prefer this forum to be for information exchange, not as a public sounding board of emotional graffiti. If we didn’t have this forum, how would you handle your frustration and beefs with the company?


But Rick if “this forum (is) to be for information exchange” then there would only be one entry every few months ! LOL


If everyone wanted this to be a trading stock, then there would be constant updates and news.
There are issues with many brokers holding shares in a foreign private company. A dividend into a private foreign company isn’t going to happen. The dilemma is there is presently no “easy” way to issue a dividend into AURYN (apparently) until it becomes free trading. I don’t see the “unofficial chill” on the stock as a bad thing. Once filings are updated for Medinah (and Cerro) and current, there may be an increase in trading volume. I won’t be looking to trade.This became a sock drawer sock for me, that is, until the day pro rata shares are issued into AURYN. For current shareholders, the best strategy for an eventual ROI is to hold onto your Medinah stock and await the issuance of free trading AURYN, IMO. I believe that is what many here have already expressed. This may take a while. Who here thinks they can sell stock now and buy it cheaper later? Sheer foolishness! Selling is likely coming from those either out of pure necessity, fear or frustration IMO. The manipulation that unraveled this stock was starting to be uncovered initially in the lawsuit filed by Okanadian in Nevada February 26, 2016. It was further revealed from the Medinah Qtrly Report March 31, 2016 and the investigations that occurred subsequently:

On January 1, 2016, the Company entered into an agreement with Okanadian Management Corp whereby Okanadian would purchase 100,000 shares of Class C Redeemable Convertible Non-Voting Preferred Stock of the Company. On January 11, 2016, the Company issued the 100,000 shares of Class C Redeemable Convertible Non-Voting Preferred Stock to Okanadian. Subsequently, due to a scrivener’s error in some of the documentation, a dispute arose regarding the number of shares to which Okanadian felt entitled. Discussions are ongoing to resolve this dispute.

Much has transpired since then:
Forensic Audit Update – January 2017

Legal Proceedings and Disputes

The process is time consuming, but it is happening.

As for AURYN, I see no benefit to current Medinah or Cerro shareholders by issuing news and promoting itself before current shareholders receive a dividend declaration that assures a legitimate stake in a free trading AURYN. Current shareholders that can hold on until then are the lucky ones that may actually retrieve some of the former value of this stock. Once AURYN receives approval on it’s F-1 application and an IPO is offered I don’t expect much in the way of news before then. I won’t be upset if news is forthcoming, but I expect the real promotion of all the activities on the ADL will occur as a result of AURYN becoming free trading.

Or those that have better places to put their $$$ over the next 12-24 months.

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Yes, for those “newbies” that bought so low as to not incur substantial losses by selling, that is a possibility. If so, the selling should dry up as time passes. Daily trades are in the range of a few hundreths of a percent of the OS. Selling a million shares at a small loss to put cash elsewhere may be a good choice for a few, but not likely for those that have been here over many years, IMO. At least, if that’s where selling is coming from, it’s not manipulation as a few here have suggested.

There is hardly any money to put anywhere else … I should have 2 years ago

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From I-Hub

insidetruth Monday**
06/26/17 09:55:40 AM
Re: None
Post # of 77835
“the powers that be have instructed me to cease posting on this site. i have enjoyed the chatter and wish everyone the best for mdmn. The property holds a great future for all as auryn continues to develop the adl toward a mine”[/quote]

Assuming this poster was either Les or a minion of Les, someone is putting a muzzle on him. If it was Les (I believe it was), then he’s even more of an idiot than i gave him credit for. He’s posting “anonymously” on a public message board while a party involved in various lawsuits with MDMN in what I’m assuming is a half-brained attempt to somehow curry favor or otherwise influence or defend himself to an audience of MDMN shareholder/posters. Additionally, he posted about Les in the 3rd person to give the impression that he wasn’t Les. Not only is that intentional deception, it isn’t very smart. The man is obviously desperate.


I just can’t imagine that Les is that dumb. But… this is MDMN and Les we are talking about and he has suddenly found himself without a voice. Something he has never had to deal with before. He had plenty of peddlers pushing his spiel for many years.

I also believe that “insidertruth” is Les Price. He is arrogant enough to do something like this. However, he knows that posting on iHub really doesn’t put him in any danger unless big entities like the SEC come down on him (that is highly unlikely). Unless someone subpoenas iHub, good luck finding out who this poster actually is. However, his lawyer, or a friend who is a lawyer, has probably told him to shut up and he’s complying. I’d expect a new alias to pop up on iHub in a month or so as I don’t believe Les can stay away from the drama.


He’s already proven that he is. :wink:


I saw evidence long ago that Ihub is owned and operated by nefarious individuals. It was enough for me to end my subscription. I haven’t been back there in a long time and I don’t imagine I ever will.


I read the Ihub Mdmn thread daily. As much as we would like to ignore it. You shouldn’t. It is a very popular forum that attracts millions of investors. Occasionally it has something to offer. I.e. Recent posts from insidertruth is a look into a twisted mind. An added plus is HR keeping the Ihub tread up to date as to the truth. HR reads it, knows the value and has our back.


For sure it is Les. Although it is dangerous to try to read in things from any words from him, his post is at least suggestive that a settlement is either pending or has been reached between himself and Medinah. I think the news log jam will break when the settlement is announced.