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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: J.D. Elliott who wrote (16441)	7/2/1999 7:46:00 AM
From: Mike Gold	Read Replies (2) \| Respond to of 25548

J.D.-true enough! On July 10, the company will be able to CONVERT 1/3 of the shares to common shares(if the strike price is reached)-does not mean that they will sell them at $1. Surely any large selling would knock the price down to the point where it would not be worthwhile for them to do so. More likely, they will do what all the other large shareholders are doing-ie waiting for the buyout of Medinah mining. And certainly any buyout deal would allow them to get cash for the unconverted preferred shares. Cheers.