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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: DR. MEADE who wrote (4129)7/13/1998 1:59:00 PM
From: Stymie  Read Replies (2) of 25548
 
From DAY's point of view this is not good news, its not even news. This press release is not a disclosure of new developments at the company. It is a restatement of what they (actually everybody except MDIN) have been saying all along.

I agree that it appears that DAY is trying to get rid of MDIN. They seem to be much more active in dealing with MDIN now. I guess ignoring the MDIN representations only worked for so long.

I talked to DAY this morning because I was curious as to the timing of this release. Their response was that until the last (June 17) MDIN release, DAY felt that the MDIN representations were not material. However, the last (June 17) MDIN release received more attention than the prior releases, and DAY just had enough. So they issued a press release stating the facts and pointing out the errors in the MDIN releases. They wanted to set the record straight.

I believe the lack of buying confirms that DAY investors new this information all along, and seeing it printed as a press release was not a reason to purchase more. DAY has other problems that have a much larger effect on their stock price.

I am looking forward to see the MDIN response that a post from earlier today mentioned. It will be interesting to see what kind of spin MDIN can put on these court decisions that are in DAY's favor.
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