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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)
MDMN 0.00010000.0%Nov 14 9:30 AM EST
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To: Coz who wrote (15901)6/22/1999 8:50:00 PM
From: Richard S. Gates  Read Replies (1) of 25548
 
Coz:

I received my shares of MEDINAH GOLD on Monday this week in full for the registered shares of MDHM. I have many other shares of MDHM in street name at my brokerage house, and I was told that it would take about five weeks to get my MEDINAH GOLD shares sent to me. However, in the meantime IR told me that the DTC had not leveled their books regarding the GOLD shares, and that the deadline given to them by the transfer agent was yesterday (June 21,1999). At this point legal action may be taken against the DTC and perhaps some brokerage houses in regard to the GOLD shares which are out of whack! Russell also told me that this process could conceivably take months to straighten out. It is also noteworthy that the shares of GOLD can not be transferred or sold, etc. for a period of one year from the date of the certificate. This means that those of us who may wait months to get our shares of GOLD will not be able to sell them or transfer them for a period of one year from the date of the certificate. That date will be significantly later than the date I have on my shares I just received. This is unfortunate but part of the problem issuing from the large imbalance at the DTC.
If you have heard anything to the contrary, please respond.

The Gipper
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