FOLKS...I DON'T KNOW IF THIS HELPS. STILL A BIT CUMBERSOME, BUT IN ONE PLACE. I'VE BOLDED THE ANSWERS.
Okay Vince, now its my turn! Here's a list of my questions. If you don't want to answer some of them in a public forum, please do so privately. If you don't know the answers just say so. If you don't want to answer-no hurt feelings on my part-you have already done an outstanding job for us! Thanks again.
Now about those questions....
1)How did MDIN pay for Andicollo and the Santiago properties?
a)What future payments in cash, stock, or production still need to be made?
2)ASARCO! You left that issue hanging pretty well.
First we hear from the MDIN elite that Asarco is at Lipangue. Then they all say ASARCO Who? Now, MDIN publicly admits to Asarco is down there. What gaves? Why publicly admit to now? Was there some kind of non disclosure agreeement?
a) Why did Asarco verify Lipangue?(or any other property for that matter)Did MDIN pay them to do this? What is Asarco interest in MDIN? Is it a current interest or already passing?
b)How did Asarco verify House's findings? Did they do assays, field studies, IP, drilling or what?
3)What other majors? It was my understand, there was at least 3 majors involved at Lipangue. Who are the other 2? What do you know about their interest? Any other nondisclosure agreements? Did MDIN pay them to come down and visit or do they pay their own way?
4)I don't buy the argument about not disclosing info about Lipangue so that it gives time for MDIN to obtain more properties surrounding the area through part time lawyer Quijano, and apparantly part time real estate agent. MDIN has already disclosed in a publicly available document the EXACT location of Lipangue(I have it on my harddrive!)and even where the current claims are not to mention giving dog and pony shows to Majors who may be the ones who are most likely to try to buyup all the surrounding property! Something is missing from the puzzle-Vince! What is it?
5)Dayton! Ugh. Lots of unanswered questions here. I will keep it brief since I don't care much for lawsuits.
a)What exactly is suppose to happen today? Some type of court hearing. Does that mean that more evidence etc. is going to be given today or that in fact some sort of decision is going to be made by the Chilean court? If they don't make a decision today, when do you think they will make a decision? You touched on the mineral rights to the Churrmata case. What about all the other cases? ie destruction of the mill etc.?
6)Gary says you took detailed notes during the meeting. What does your notes tell you about the geology that was discussed at Lipangue? I know you read the Chief's posts so you are not as ignorant as you pretend to be when it comes to geology! I want to hear more about the pant leg anomolies!
7)Why another 2 to 4 weeks before the drilling turns when the original estimate was September? Are you satisifed with their excuses?
8)Production! Ugh. We were suppose to be in production last Spring. Why aren't we in production now? Why another 3 months? Did they give you any details on what the production rate would be and the method of production? The Chief says the gold concentration of the placer appears to be low-marginal at best for mining-why does MDIN think they can mine it profitiably?
9)Does managment still plan on selling Andicollo?
10) What did managment say about joint ventures or buyouts? Did they mention that they had already recieved buyout offers but rejected them? If so, what price was the buyouts for and who made the offers?
11) When do you think MDIN will info on file on EDGAR DATABASE at the SEC?-ie when will they be an official reporting company?
12)How will the drilling be payed for? I think they have already decided how this will be payed for-ie through a debenture loan-is this true?
13)What was you impression of Ralph?
14)Did MDIN tell you how big Lipangue is? Dimensions? Ounces?
15)What did MDIN tell you not to publicly discuss? Ha!
16)What did they say about shorts? What did they say about the float? What did they say about registering shares? How is MDIN finally going to get a better handle on the whole share issue? Are they considering changing their name?
17)Was Mrs. Paul Jones attractive? Ha.(Don't answer that!)
18)Is it true that the only reason you went to the AGM was because you thought that Janet J. would be there? :)
Mike's questions answered....Mike Les did respond to the questions, I will relay those to you verbatim. In case I skip one its because I don't understand his response or do not feel comfortable being the messenger. We'll clarify any of those later.
1. Combination of cash and securities ....(Mike Les said there would be more to come on this later...)
2. All majors are covered with non-disclosure agreements as to specific items, but we can release information as to expressions of interest in non-promotional releases - i.e. yes, they visited the property and confirmed the work that is being done.
We have never stated, until Monday, that Asarco or any other major was down there - other people did that.
a) No one ever pays a major to visit a property! Majors have their own agenda and monitor developments looking for opportunities all over the world. The more exposure we get from majors, the better our position becomes when we negotiate final agreements.
b) All data produced from the property has been shared with Asarco pursuant to our agreement. Independent of us, their geologists have conducted their own investigation and verifications and concur that our data as presented and developed, is professional and acceptable to them. We have had two other majors do likewise subsequent to Asarco and I will be meeting with the fourth major next week. We will then enter negotiations to see which agreement best meets our needs, if any, or make a decision to continue further on our own before making a commitment.
3) As discussed, we do not pay majors. We will disclose their recommendations when we receive same.
4) We have disclosed the claim identification on each project purchased. We have no fear from any major that has a signed agreement with us as most majors are honourable. We are only concerned about unscrupulous opportunist who might take advantage of an opportunity to obtain properties before we have finalized agreements with the properties that we require. This process is fluid from day to day as results are forthcoming and the agreements are amended from time to time to include/delete properties.
5) Dayton - proceeding on all fronts. We do not control the court's timeframe and can only comment that we anticipate this will conclude quickly.
6) N/C (folks #6 was directed at me, and Ian read what is now posted at the offical Medinah website. Gordon's reports is exactly what was read at the agm. I may not be ignorant Mike but I do have that CRS disease. (Can't remember sh*t...now go give that red headed girl friend a big 'ol kiss)
7) No drills will turn until completion and interpretation of all data being developed. Because of the filed results to date, the IP program has been expanded with continuing, encouraging results. The interpretation of the data is critical to a successful drill program, which is being done to assess the value of the deposit - not to run a market.
8) We were overly optimistic about the startup of production of the Placer. The gross acreage involved and the volume of material warrents an intensive examination to maximize the profit return. The delivery of the equipment from Costa Rica and Vancouver took longer than anticipated and customs clearance was also painful, but finally accomplished.
We submitted all the data to Baxter Mining for a recommendation of where, when, and what was required to proceed profitably. Baxter has now identified the additional processing equipment that is required and has resourced the availability and associated costs. Clarence has been working with Baxter on a daily basis and will be in my office on Thursday, at which time we will have a firm timeline and budget all costs. We have also received an expression of interest on the entire Placer project from an international consortium who spent six weeks assessing the properties.
9) Andacollo. An intelligent approach is to make an agreement with Dayton regarding all the claims located within the Dayton mining area and develop the other properties (the majority) in keeping with the ACA Howe recommendations.
10) N/A (Mike the only thing I remember a few times is that management will always study all options)
11) We are proceeding forthwith on this front - translations are now underway on the Chilean audits.
12) Being negotiated
13) Ralph ?? (mike, Ralph wasn't there and I have already chastised that %#^%$$^ *&*&^** *&*** for not being there. He had personal reasons and I completely understand. You will know soon enough why!)
14) Premature
15) See the updated website this week
16) We did not discuss shorts, which are a normal function of the marketm but we do strongly recommend share registration. We heard the recommendations for a name change, that I personally support.
17) Why is this an issue?. ( Mike, I'll put her up there with Barbara Bush. Just as sweet, and loving as they come. To be honest, It was Mr. & Mrs. Paul Jones that put the icing on the cake for me. Just a great loving couple. You would think they would be from the South with all that warmth, and caring. But hey we can't always have a monopoly )
18) Would you please disclose all about Janet J. to me??
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Well folks those are the answers. I'm sorry if I mistyped and will correct as I find. But this is verbatim what Les had to say. I did add my comments in parenthesis. As far as #18 goes, you guys just stay away from my fantasy ladies (Jane J & Madly), a guy my age and looks doesn't need for them to find out I'm short, fat, and balding rather precipitously, sooooo shhhhhhhhhhhh!. LOL!!!!
Thank you Les for taking the time to answer. Folks remember, there are somethings we just don't want the enemies to find out, so let these guys go build our asset base and our stock price!!!!!! |
