I have to agree. It’s a bad look to have him around at this point. MDMN needs a clean break from anyone who could even be interpreted as one of the good old boys. Whether completely innocent or not, it’s best he goes. The “benefit of the doubt” attitude and “I met him/talked to him and he’s a really good guy” attitude is what got us here in the first place. Too many shareholders not willing to take a stand/rock the boat and too many who believed they would get paid eventually (despite there being red flags raised at every turn).
I’m not saying I don’t appreciate some of the things he has contributed, but he has too much manure on his boots to come out of this smelling roses.
Too many shareholders want to criticize on a thread as opposed to showing up at the meeting to address in person
I applaud those who showed up and asked hard pointed questions
I also applaud the openness and answers we received
“Too many shareholders want to criticize on a thread as opposed to showing up at the meeting to address in person”
This is exactly the attitude I referenced above. I don’t think people know the extent of the damage that was done to MDMN. If all it takes is some of the BOD to show up and provide some answers and they are able to keep the status quo, this thing is done.
I’m looking for some action to be taken, or I’ll join others who have decided to put their money other (safer and more responsible) places.
No. People fully realize the extent of the damage. Shareholders held nothing back firing questions at BOD
This BOD is not the same BOD as changes have been made
Look at the attorneys who have been hired,
They will “peel the onion” back and we will find out answers. IMO
This BOD had promised to keep communications open and I’m comfortable with their efforts so far
Per usual, you seem to be missing my general point. All of the past and present people who have “run” Medinah were hand selected by Les. Why? Because Les knew he could perpetuate the fraud with these types of individuals running the show. Tenney, Vittal, Goodin, Hackney, American Registrar, JJ ,Chapin…All of these guys lacked the competency or, in the case of Chapin, the active involvement in running the company. The net result was “friends of Les” owning hundreds of million of legitimate and illegitimate shares (Jimmy O’, etc). And 3 billion vs. 3 hundred million shares outstanding.
As far as I’m concerned, Tupper and a couple AMC members can run MDMN and CDCH with minimal compensation and maximum recourse for all of the foul actors. Despite Goodin being a “swell” guy and those that attended this shareholder meeting feeling like there was genuine remorse by all of those involved, a board like the one I described above is an inevitability. All that needs to be done at this point: follow the lead of the hired attorneys and responsibly handle inflows coming from AMC. This is not a task that requires an army of directors collecting 2M shares a year for issuing press releases full of spelling errors.
I have zero interest in moving this forward because I believe Gary will do a good job. Why don’t you take the bull by the horns and contact them to see if anyone wants to be President of Medinah. Or maybe just suggesting it in a post on a bulletin board will be enough energy to overcome any inertia, well see.
Dentman. I know you are looking for a cookie as well for making the effort to attend the shareholder meeting. While you are free to criticize some of us lazy shareholders for an opinion even though we didn’t make it to Vegas, I can assure you, I’ve been many times and met all of the folks who you are so eager to defend.
I don’t think anyone here can claim they’ve done anything to directly help Medinah, with the exception of Tupper. I do sleep well at night knowing that I offered some healthy skepticism (since confirmed) about our management while others, like yourself wasted breathe on naked short sellers manipulating our market. Maybe some people took more reasonable positions in this investment vs. putting everything on “black” based on the euphoric predictions and next weeks.
I can only imagine what else this BOD could have/would have done if all of the shareholders shared your same naive embracement for their actions. Even the smallest of matters, like Chapin’s brother receiving shares for an office, might have kept these guys more on the rails. 3B shares ain’t great but it could have been a lot worse.
CDCH could had had twice the amount of shares outstanding if all of the claimed liabilities weren’t vetted (at the insistence of shareholders).
I’ve had countless conversations with some of the more “influential holders” of this stock and can promise you there is a rudder on this ship that many will never understand.
See there you go belittling people. Just put names forward of people you think would be good for the job and would accept the risk and compensation we have. You’re a smart guy, please stick sound arguments to refute others. Gotta remember we have all levels of investors here and currently a lot of them are filled with angst
To quote one of my favorite posters from two hours ago:
“As far as I’m concerned, Tupper and a couple AMC members can run MDMN and CDCH with minimal compensation and maximum recourse for all of the foul actors.”
I’d be shocked if this isn’t our reality within the next 90 days.
I didn’t realize you were challenging me. You asked a question and I offered a response. I’ve also addressed the Day’s involvement as recently as today. Again, if you can’t follow what I’m posting it becomes nearly impossible to have a dialogue:
All of the past and present people who have “run” Medinah were hand selected by Les. Why? Because Les knew he could perpetuate the fraud with these types of individuals running the show. Tenney, Vittal, Goodin, Hackney, American Registrar, JJ ,Chapin.
Not sure how this can be stated any more clearly. They all gotta go. Even the “swell” ones who seem to have your number.
Do I think CDCH is a better investment at this point? That should be obvious unless 1+1=3 but I own a bit more MDMN than Cerro. The number used to be significantly different but the share prices have flipped.
Did anyone run it by Maurizo about Goodin staying on, since MASGLAS is a major shareholder??? You’d think they’d have a interest in removing anyone tainted by association
After going and talking to the Mdmn and Auryn directors Gary Goodin is the right man for the job and Les knows it. We are where we are because of Gary as far as this investigation goes. Whoever wants him out now is wrong IMO.
Maurizio made it pretty clear that he was there to represent Auryn only and to keep in mind that much of what he said was forward looking and should be regarded as such. (He asked me to make this clear and post it)
I think he is leaving all Medinah internal issues up to Raul (another very impressive fellow with great credentials and background …GO ND!) and Italo (whom I only met briefly), and Gary, of course.
