Medinah Mining Inc. (MDHM) Message Board

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

MDMN 0.0001000

0.0%

Nov 14 9:30 AM EST

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To: bully who wrote (10139)	3/12/1999 11:04:00 PM
From: PvG	Read Replies (3) of 25548

DD Results: These are the results of my recent conversation with RGM. All of this information is from the investor rep unless indicated otherwise. 1. Most likely all 100 million shares will be issued before this is done. When I was doing my DD before I invested this has always been the answer. I'm confused why so many people are surprised by the additional dilution. All my calculations have been based upon 100 million shares outstanding. 2. Quoting the investment relations rep at RGM, Gordon House has commented we have a mine, we just do not now how large yet. The company is very excited about the preliminary results. 3. Based upon the preliminary results of the first three holes the drilling contract has been expanded. 4. Possible that complete results of the assays will be available next week, Ray (I think that was his name) didn't know for sure. 5. Gordon House has stated in the past that the potential size of the deposit was in excess of 100 million tons. Based upon hole three it could be much larger (how big is "much"?) 6. Neg. with the Russians is ongoing, they are trying to get financing. 7. When asked what the potential costs of production for the Medinah site might be I was told: Based upon RGM discussions with a senior engineer at Placer Dome (sp) the value of a multi million ton prophery(sp)is about $12/ton. 8. Production costs are $6-$8 ton yielding a $4 - $6 profit. 9. RGM referenced a recent buyout of $53 per inground ounce. 10. RGM's back of the envelop potential value per share based upon 100 million shares outstanding and a 100 million ton deposit and the core results announced is about $2.60 a share (a little better than the current $.38!) 11. As the size of the deposit goes up (and the concentrations of course) the value of the stock will increase. See 5 above. 12. RGM stated it could take 3-6 months to do the necessary drilling inorder to prove up the size of the deposit. (PvG - I doubt we will see a buyout offer until we know the size of the deposit, unless one of you happens to have an extra billion you want to put down based upon 3 preliminary holes). 13. The company is proceeding very methodically to prove up the claim, they want all the pieces in place so the announcement won't be suspect when it is finally made. 14. Don't know when the audited financial statements will be released (this is still a huge red flag for me). IMO this is potentially an explosive investment with the potential of a serious return; however, with development stage companies an investor must have PATIENCE. I wouldn't get upset at the inevitable delays. Since I work in litigation I have not been surprised at the court delays, they happen in the good ole USA all the time. It's not uncommon for a case to languish for a year and then all of sudden get hot again. My unprofessional expectations for this company is to see a $.75 $1.00 share value when the assays are released (Lord let it be so!) but not the rapid price rise until more is known. I would love to be wrong and be able to retire in April instead of August, but I can wait. Sorry for the long post, just wanted to exit lurk mode and share some of my information. To the technical people I know I left out a lot of mining information but there are people much more competent to comment on that than me. P.S. Mr. Gold I not sure what to make of you yet but I was disappointed in your comment there had been buyouts based upon a couple holes but you couldn't remember there names. I had come to expect more definative information from you - please don't take offense at this tired CPA's ramblings. Best of luck to all of us, I only hope this proves to be half as profitable as it looks like it could be!

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