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

To: Handshake™ who wrote (3498)	6/17/1998 12:35:00 PM
From: TomNY	Read Replies (2) \| Respond to of 25548

Still waiting breathlessly for Ancil's fact. "I have to go now but will be back in 1/2 hour to post a fact that will not make anyone happy here" Well, he's 24 hours late! I'm dying to know what it is.

To: Handshake™ who wrote (3498)	6/17/1998 12:44:00 PM
From: Mike Gold	Read Replies (2) \| Respond to of 25548

Let me try to decode the latest press release. Kevin, let me know how I did. "Medinah has an agreement with Gumercinda Olivos Araya and Julio Alberto Tornero Olivos, which gives Medinah the right of first refusal to purchase several properties, when the vendor is legally entitled to sell them." SAYS MDIN WILL BE OFFERED THE CHANCE TO BUY PROPERTIES OWNED BY THE OLIVOS CLAN WHEN THE OLIVOS'S HAVE CLEAR TITLE. "These are the Marilola 1 to 6, Marigen 1 and 2, Encarnacion 1 and 2 (Dayton has lost two cases before the courts, files no. 1.813, 1.814 and 1.815 titled Dayton Vs. Tornero, Olivos, Julio, which petitioned to have these claims canceled and absorbed into their (Dayton's) Churrumata/Andacollo properties. A temporary ban on the sale of these properties was imposed by the courts until all appeals are heard.) " SAYS DAYTON LOST COURT CASE TO ABSORB THE ABOVE MENTIONED PROPERTIES INTO THEIR OWN-AN APPEAL MAY BE PENDING SO OLIVOS CAN'T SELL THEM YET "The superficial rights to these properties have already been granted to the owner, Gumercinda Olivos Araya, before the courts in Chile." SAYS THAT COURTS HAVE ALREADY AWARDED SURFACE RIGHTS TO OLIVOS "The Abismo, Madrid and Pique properties of Dayton are claimed to be overlapping the Olivos' (Marilola, Marijen, Encarnacion) properties and have been requested in the courts, by the Olivos', to be canceled (files no. 1.996, 1.997, 1.998, 1.999, 2.000, and 2.001, titled Olivos Vs. Dayton.) Experts have evidenced that there is overlapping and a decision is expected within a few months" SAYS THAT SOME OF DAYTONS PROPERTIES OVERLAP ONTO PART OF THE OLIVOS CLAIMS-OLVIOS WANTS CERTAIN DAYTON CLAIMS TO BE CANCELED-EXPERTS SAY YES THERE IS OVERLAP-COURTS HAVE NOT DECIDED YET. "In court case files no. 2.119 and 2.120 titled Dayton Vs. Olivos Araya, Gumercinda and Dayton Vs. Aguero Plemkosic, Maria Andrina (sister in law), Dayton was granted surface access to certain Olivos properties. Dayton was prescribed a compensation payment to Olivos of 50 million pesos for this access." SAYS THAT DAYTON BOUGHT SURFACE ACCESS TO SOME OF THE PROPERTIES FROM OLIVOS FOR 50 MILLION PESOS. "Chilean courts have stated that Dayton exceeded this access right granted them when they demolished all of the buildings, plant and equipment owned, under a legal lease agreement, by Medinah Energy Inc. This has prompted the filing of criminal charges by Olivos and civil compensation suits by Medinah Energy Inc. against Dayton." SAYS THAT THE COURTS HAVE STATED DAYTON EXCEEDED THEIR ACCESS RIGHTS WHEN THEN BULLDOZED MDIN's BUILDINGS ON THE PROPERTY IN QUESTION-AS A RESULT MDIN FILED CIVIL COMPENSATION SUIT, OLVIOS FILED CRIMINAL SUIT "Medinah Energy Inc. has negotiated the purchase of the lawsuits which means that judgements would insure to the benefit of the Company. Medinah will pay all future expenses and costs of these actions." SAYS MDIN WILL GET WHATEVER MONEY/COMPENSATION THAT IS AWARDED TO THEM FROM DAYTON-MDIN WILL PAY ALL FUTURE COURT COSTS INSTEAD OF OLVIOS "The properties described here are in addition to Medinah's Andacollo properties, the Mercedes one to three, Mercedes, Toro, Gabriella, and Rodrigo, which are inside of Dayton's published open pit area and Medinah's other extensive holdings in Andacollo and Santiago." SAYS THE PROPERTIES DISCUSSED IN THIS RELEASE ARE IN ADDITION TO OTHER MAJOR HOLDINGS OF MDIN's.