Claude, (check webpage www.medinahenrgy.com)MDIN has 46 million shares outstanding common, around 9 million prefered(can be converted to common if above $1) I expect possibly upto 10 million shares of diluation from drill program.
As far as what they have:
1)Andicollo claims
Andicollo claims surround the Dayton mining operation in Chile. These consist of placer, vein, and skarn(manto) deposits.
Several million ounces all told.
A joint venture annoucement with a Major is expected very soon-ie any day now
2)Santiago Claims
These consist of many thousands of acres of claims in various regions of Chile
a)Most important. Lipangue. This is a gold/copper porphyry deposit. In this case the hydrothermal breccia pipe appears to contain unusally high gold minerlization based on the IP survey and a previous drill core down into the pipe. Porhyry portion of the deposit I don't believe has been discovered yet. Drill program to start any day. Potential to be a mega oz deposit
b) Las Dos Marias-a couple of kilometers from Lipangue-very complex geology-vein, placer, shear, and intusive gold deposits all in one small valley-potential unknown
c) Punge and Carin Placers-over 12 kilometers of alluvial placer deposits-ie or 200,000,000 cubic meters of minerlization-previous results show around 1 to 2 grams/ton. Recent results by Russian investment group came up with much, much higher values undernealth boulders in Carin Placer. Estimate a minimum of 8 million ounces
Joint venture to be annouced any day now-production to start very soon.
d)Caten vein-huge vein near Lipangue-very deep, couple k strike lengthh, couple meters wide. MDIN has started ore stockpiling from vein
e)Numerous other properties with lesser or unknown potential |
