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

To: Ancil who wrote (3237)	6/10/1998 2:54:00 PM
From: rulm	Read Replies (1) \| Respond to of 25548

Dear Ancil, The dirt is being stockpiled for a new world class worm farm. Hope this helps. Can you provide us with the name of a competent accountant to oversee the worm books ? Cheers....

To: Ancil who wrote (3237)	6/10/1998 3:20:00 PM
From: James Berg	Read Replies (3) \| Respond to of 25548

<After they stock pile the dirt were are they going to process it at .> I believe they intend to use the Enami refinery, as it's been used in the past to process ore from Sierra La Plata, SA. Processing the ore in this way, they don't need the $80,000,000 plant such as DAY has constructed. Due to the high grade of ore, even a 5% smelter fee is easily cost-effective. This will allow MDIN to generate enough cash flow to be able to effectively "pull themselves up by their bootstraps", and to further explore their properties. At some point in the future, they will no doubt want their own plant to process the ore, but MDIN will likely have a much larger cash position and will have been a gold producer, so will likely be able to get a bank loan rather than diluting the stock as you've suggested. It seems so obvious to me that I have a hard time understanding how you don't see it. They've laid much of this out quite clearly in their press releases. --James