PUTTING A VALUE ON MEDINAH
Just want to revist something that I know KMT spent many many posts addressing. Maybe we can coax him out of hibernation to help in this topic of discussion. Just a few quick comments on an either/or. 1) One might believe the reason we are at .07 cents because we issue new shares and back dooring the stock , while hyping and encouraging new buying. Thus the new buying is simply met with management dumping shares to raise capital for themselves or devious objectives. One might draw these conclusions based on previous BB stock manipulations and practices and the fact that the stock is at .07 cents while the whisper numbers claim this stock is multi dollar ($5, 10 ,even 20). 2) The other side of the coin is that recent share issuance have gone to the vendors to meet those contractural obligations, and that certificates have been issued and are not into the market. All buy orders have been simply met by “phantom” shares that the MM's have created in order to satisfy their brokerage house orders. We have seen some evidence that month end in Canada has had some seriously large volume days. So tracking down which theory is accurate will be known soon, it is apparent from the people I have discussed this issue with and from personal emails and MY OWN EXPERIENCE that their is some difficulties getting a certificate. Could it actually be that the squeeze is beginning and we are starting to see that or will soon see the effect....Whatever one thinks there are some facts and some verifiable third party confirmations to back them up.
ANDACOLLO
Andacollo properties themselves (234 claims in various stages of development, several ready for immediate production, limited drilling has already yielded 6 million tons @2 gms/ton. My note: (Don't have it handy but ACA Howe Chile has confirmed some values on these properties but don't have exact numbers)
Legal leverage regarding Dayton/Medinah lawsuits. Decision expecting very soon. If a favorable decision is awarded to Medinah then the award phase will be entered into to deterimine how much Medinah is owed for the gold tailings/gold ore that Dayton has stolen and how much for the bulldozer incident. Again, my opinion is that if Dayton has been announcing record production, it seems plausible that Dayton has been mining Medinah's gold. A favorable decision for Medinah puts Dayton in an extremely dangerous situation. Why haven't their banks come to a conclusion on their loans....In my opinion that gives credence that they are also awaiting the Chilean decision. If the property is Medinah's then Dayton will obviously want to acquire this property due to their remaining mine life and furthermore where can Dayton expand????. IE remember the Fremont Gold news release, and who owns many many properties on the outside of Dayton's boundaries.???
Value:___________
SANTIAGO
Carin and Puange placer properties (170 million cubic meters of 1.5 gm/ton could represent +- 8.3 million oz of gold ) News release 12/13 “Profesional mining group completes study of Medinah's placer gold project” This opens the door for a sell of these properties, a joint venture, or partnership.
Value:___________
Catan Vein: 2.8km x 2m wide x 1900 meters @ 10 gm/ton. From 12/13 release: ”The tunnel intersected the vein 1000 feet feet below the surface outcroppings on the mountain. Assays from the Catan vein range from trace to 70 grams of gold per tonne. At the point where the tunnel intersected the vein, a channel sample across 1.2 meters of vein assayed greater than 10.7 grams of gold per tonne.
Value:___________
Other properties: Lucia vein, Santa Lucia vein, Santa Maria vein, Santa monica vein, Altamira Vein, Mercedes properties, Chacun Properties, Loncomilla Properties, etc. etc. please seek news releases to get a complete list.
Value:___________
Alto de LiPangue & Las Dos Marias: Sedna Drilling to implement drilling program. “The drill targets were identified by IP survey performed by Geodatos. 2700 meters at LiPangue and 1900 meters at LasDos Marias. A large number of high grade gold veins and abundant disseminated copper sulphines and massive sulphides led to the discovery of the associated intrusive deposits, mantos, and shear zones. Bema Gold to review project in January.” Las Dos Marias ( from 7/25/98 G. House report) ...The property vendor attempted to dewater the old decline about ten years ago but could only lower the level 35 meters. The mineralized horizon was sampled at two points and returned assays of 2.8 and 34 grams per ton gold, with no copper values present....LiPangue ...and attempted a diamond core drilling program using a small pickup truck mounted drill. The drilling was unsuccessful, breaking down at about 37m depth, with poor core recovery. The drill program did provide some core samples and these were displayed by the property vendor. The drill core shows pyrite-chalcopyrite sulphides filling the intertices between the crystalline quartz surrounding the highly altered breccia fragments.. the presence of the crystalline quartz coating the breccia fragments clearly indicates hydrothermal gas streaming and the presence of hydrothermal fluids within the diatreme breccia pipe.
Value:___________
OTHER SOURCES OF VALUE:
The relationship with Juan Jose Quijano, professor of mining law, represents future access to other high quality properties, as well as a huge stamp of creditability.
Sierra LaPlate SA... infrastructure is already in place with many governmental hurdles already cleared. Makes it easier for a major mining company with out a presence in Chile to have immediate exposure. THIS IS EXTREMELY POSITIVE.
Fully reporting status, approved share buyback, 10 million + shorts, etc. etc. (Many may believe these are fantasy items, I simply suggest don't wait to purchase based on the day when they are proven, I would also hate to be short (phantom shares) when the TA has more certificates to issue then shares outstanding. I also believe that by not being fully reporting has allowed them to move much quicker and secretly for the betterment of the company than if they would have had to report every trip to the bathroom. Fully reporting status will attract many institutional investors. Medinah is aware of this. For the naysayers, if not being fully reporting status scares you then simply sell or do not buy. Make sure you tell your buddies while sitting at the bar that this was your obstacle. I think things will move quite rapidly and positively over the next few weeks.
The interest shown by the major(s) should bode well for the shareholder. Also, keep a close eye on Argentina Gold, any successful investors, will certainly want to move that money into a repeat. I also believe the Barrick interest is just the beginning of majors acquiring properties by buying into companies that have already done the “dirty work”.
Value:___________
---------------
Do yur own DD as to the value of Medinah. Here's some help though, Will the Caren/Puange Placers have +- 8 million ozs of gold, will the Catan Vein yield 8 to 46 million ozs of gold( don't forget about all the other veins located at the Caleu property. What will undisputed Andacollo properties net (joint venture, partnership,???), what will the Chilean courts award for bulldozer and tailings (O to 20 million)...What will these disputed properties be sold for?....Well folks it is fun to gamble and hope the roll of the dice was a successful one, it is also fun to put the pencil to the many scenarios. I'll keep my guess to myself, but will say this...I'll stand by my statement that Medinah will blow the socks off of Argentina's recent success....have a great week and please be nice during this holiday season...
Vince
p.s. The above information is my opinion based on a compilation of DD performed during sober, and unsober moments. The physcologists' reports are available as to the mental state of the author, and urine samples outlining the amount of haluecinigentics is also available.
:-) |
