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

To: KMT who wrote (2179)	4/27/1998 9:57:00 AM
From: Handshake™	Read Replies (3) \| Respond to of 25548

Hmmm well we're starting to attract attention!!!! The Mining Business Digest's Weekly Briefing For the Week Ending 4/22/98 OFF THE RECORD . . . . . . ever hear of Medinah Energy of Elsinore, CA? Me either but they are acquiring 234 (!!) gold properties around Dayton's Andacollo mine in Chile for a reported $10 MM. One property, the Churumata, is reported to contain a resource of 350,000 ozs gold. They have also begun legal action against Dayton accusing Dayton of bulldozing a mill facility under construction on the Churumata, a house used as management headquarters, crews quarters, a test laboratory and an office facility. Medinah said personnel inside the house were forcibly removed. Facts are that Dayton owns the mineral rights to Churumata and paid the surface owner for rights to access and mine the property, including getting rid of buildings. Seems Medinah never owned any of Churumata anyhow. Medinah does own mineral rights (and Dayton the surface rights) to a small reserve in the middle of Dayton's property but it has no effect on the Andacollo project. Medinah is reported to have a history of throwing around lawsuits and harassment. Stay tuned. . . . Barrick has made a fourth equity investment in Intl. Freegold Mineral Development. Investment proceeds are going into exploration of Freegold's Golden Summit gold project in Alaska. . . . Kinross has made a $1.7 MM private placement into La Teko Resources. As part of the deal, La Teko granted Kinross a right of first refusal to finance the purchase of Newmont's interest in the True North gold project near Fairbanks, AK, should Newmont place its interest up for sale. There is no indication that Newmont is considering selling its piece. Yet. . . . Barrick appointed Paul Melnuk as CEO. Melnuk has been president and CEO of Clark USA Inc., a Fortune 500 company, and is credited with leading the turnaround of that company. Munk remains as chairman and Carrington as COO. . . . Placer Dome has subscribed for 23.6 MM common shares of Vengold at a price of C$1.75 PS. Placer will hold 16.8% of Vengold. Vengold owns a 10.3% interest in the Lihir gold mine in PNG and will use proceeds to increase its interest there. . . . a couple of gals made good use of their digging time at Crater of Diamonds State park in Arkansas. A mother and daughter team turned up a pale yellow 7.28-carat diamond, the 5th largest gem found by a visitor. Pack the bags momma and call Chris! The Oracle