From Realist on the MDIN thread:
>>From: Realist Friday, Feb 5 1999 7:43PM ET
Reply # of 8956
Update on my earlier report. I spoke with a couple of different individuals and received the following reply:
1. There is a 30,000,000 to 40,000,000 naked short position. One of the shorts is a household name in the brokerage community and has been calling begging MDIN management to sell them 10,000,000 shares out of treasury, which they refuse to do. The name I was given on the brokerage firm would blow your mind. Much detail was given telling where the big blocks of shares were including the a. Irish group b. European group c. Portland d. management of MDIN and e. Chileans. I have no reason to doubt this source and based on the figures provided no question this is for real. The good news is MDIN has a very concerted effort to fight these guys which is quite impressive. I will not get into the specifics because part of this equation is supposed to be somewhat secret and I don't want to betray my source. Lets just say the plan is in progress now and I am fairly confident this squeeze can occur. I am trying to rally some more of our troops to register their certs.
2. Confirmed that this is slow time for the Chileans with their summer siesta or whatever they call it south of the border. This is the holdup with the Dayton suit.
3. Rumor has it Russians have now lined up their financing. My understanding is they need to scrap up $2,000,000 to close the deal. This may move to the forefront shortly. This was the first I was aware the problem was money, I had understood some technicality in Chilean law was involved which Quijano was trying to work out.
4. Part of the second Chilean purchase of 10,000,000 shares includes principals of Geodatos which is the firm that completed the IP/resistivity study on Lipangue. Who would be in a better position to know the potential of this property?!
5. An independent firm did confirm the core from Lipangue came from where MDIN said it did. This core is what is so impressive and has the majors excited. It is said that 7 majors are chomping at the bit to acquire MDIN based on favorable drill results. My source predicts that once the first core is drilled MDIN will be gobbled up. Around 6 to 7 days of drilling and gold results in 2 to 3 days. Copper results take longer to confirm. Prediction of takeout price is $7 to $12 per share. This individual who is in the know and holds a large position says the strategy is to simply hold for the buyout. Feels by April MDIN will no longer exit. Says with the value of the properties MDIN actually has enough assets to make up 4 companies.
Many of you may already have this information but I hope it is of help to others on the thread. |
