Medinah Mining Inc. (MDHM) Message Board

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Gold/Mining/Energy : Medinah Mining Inc. (MDHM)

MDMN 0.000001000

-99.0%

Jun 3 1:07 PM EST

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To: rhr who wrote (18934)	9/15/1999 3:54:00 PM
From: Claude Cormier	Read Replies (1) of 25548

rhr <<Facts are wrong. Bema had 130 million shares price of gold was 300>> To be exact 70.3M shares out On Jan 1996 when Bema was $2.95 an gold was $395. On Dec 31st 96, Bema had exactly 91.2M shares out...the stock was $8 back down from $13 in mid-August 1996. At the end of the year, gold was $370 but was $385 when Bema hit $13 in the summer. Bema issued some 20M shares in 1996 at prices varying from $5-$12 so it end up with more than $110 in the bank...This is certainly far from being a speculation. The bulk of the shares where issued after the stock had its major rise to the double digits area. When BEma reached $13 in the summer of 96, BGO had drilled more than 175 RC holes and some 29 DD holes. It had already spend dozens of millions on the exploration program. At the time everybody had recognized that a huge deposit had just been discovered even if no resources had yet been published... SO ... we definitely can't compare both companies. BEMA was no speculation at all, given metal prices back then and all that cash available in the kitty. Sorry for the error on the initial market cap. <<You seem to get in when resources are established and they are undervalued >> Mostly. I prefer to buy value. But I will get in some grassroots from time to time if the market cap is reasonable. <<The people in this stock will lose frequently because the asset ends up not there and occasionally hit big when the asset is. >> You are right. And that is why I am following MDHM and may get in if/when the numbers are the way I like them. <<it has the assets and will be a big gainer.>> A grassroots property is a very small asset until an economic resource is indicated. There is no way at all at the moment to know what kind of resource is there...despite what the IP will show. This will only show the potential for a large resource. If this potential is transformed into a real resource... then MDH may become a big winner... if the resource is large enough. That is the game. I agree with you that you will make a lot more money than I will if I ever get in. And I hope you will.

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