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

To: EtTuBrute who wrote (866)	1/26/1998 8:16:00 AM
From: Mike Gold	Respond to of 25548

Gary, I received my Medinah investor package this weekend. I guess the only real interesting material was the map of the Andacollo claims and the geological report of the properties. Seems that it will be silly for Medinah to develop these properties-they completely surround/overlap Dayton and are somewhat fragmented-non contagious in themselves. I wonder why Dayton has not bought them yet? Perhaps-Medinah is asking for too much? There is-no doubt-plenty of gold-but gold in the ground-does not necessarly mean dollars in the wallet for you and me. Hopefully, the dollars MDIN gets for these properties will be used to develop the more lucurative other Chilean properties MDIN's is acquiring.

To: EtTuBrute who wrote (866)	1/27/1998 5:05:00 PM
From: EtTuBrute	Respond to of 25548

Interesting observations on gold: From U.S.A.Gold site.............. MARKET UPDATE (01/27/98) AM-----Gold moved strongly to the upside this morning on good buying overseas and in the New York market. The market is underpinned by the weaker dollar and continued concern whether or not the Clinton administration will be able to marshall the IMF refunding legislation through the Congress. If the IMF is not refunded we could have an immediate deepening of the Asian crisis and this time it would indeed affect U.S. markets. There was strong New York commission house buying on the Hong Kong market overnight as well as some Japanese buying, according to Reuters reports. One veteran commodities trader told us yesterday that he was watching the COMEX numbers closely with notice day coming up on Friday. Notice day is when the longs must state their intention to take delivery; and the shorts must indicate their intention to make delivery. Yesterday's open interest was 34,853 contracts. This source told us that typically open interest is at 4000 to 10,000 contracts at this stage of the game. The fact that there is so much outstanding open interest could be an indicator that some of the long are intending to demand delivery. For weeks, there has been speculation that a consortium of buyers will take delivery on gold forcing the market higher. 35,000 contracts equals 3.5 million ounces of gold and there is only 441,000 ounces -- all toll -- in COMEX warehouses and much of that cannot be used to satisfy contractual needs. Whether or not his analysis is accurate we obviously have no way of knowing or verifying. So do not trade on this information. You could get burned. We pass it along simply as a matter of interest. That's it for now. More later if warranted. P.S. We continue to hear reports of Japanese bond selling. The bond market is off this morning.