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

To: Win-Lose-Draw who wrote (13209)	5/5/1999 4:21:00 PM
From: findstock	Respond to of 25548

To: Win-Lose-Draw who wrote (13209)	5/5/1999 4:44:00 PM
From: Ken Sammut	Read Replies (2) \| Respond to of 25548

WLD, We disagree about the dilution and time will tell on share price and share value. I guess you have nothing to lose by your posts. If you are wrong, you can cancel your SI subscription and come back as someone else. Very convenient. Ken

To: Win-Lose-Draw who wrote (13209)	5/6/1999 12:17:00 AM
From: Grateful Reaper	Read Replies (3) \| Respond to of 25548

WLD, you are relentless in your efforts to mislead: "I'm simply saying that your stock has been diluted. Same assets, 100M extra shares, dilution." WLD, 100 million common shares have been AUTHORIZED for the new company Medinah Gold. 100 million shares have NOT been ISSUED. Why do you overlook this important distinction? (As if I need to ask.) In fact, the only shares of Medinah Gold which will be issued immediately are those which will be received by the current shareholders of Medinah Energy as a dividend. For these shareholders, there will be no immediate dilution of share value, merely a division. It is true that at some point in the future, Medinah Gold may begin to issue some of the authorized shares in order to finance exploration of the remaining properties, just as Medinah Energy did to pay for the current drilling program. But I expect that any such exploration and share issuance by Medinah Gold would occur AFTER the current drilling program is completed and Medinah Mining has been sold. At that point, I will be quite willing to tolerate share dilution in order to drill the remaining properties. If the results are good, the share price will rise despite the dilution, as we have all seen. The important point is that nearly all of the present value of MDIN is based on the two properties remaining in Medinah Mining. Any possible future dilution of Medinah Gold will have absolutely no effect on the value of Medinah Mining. WLD, you made the statement: "Same assets, 100M extra shares, dilution." This sounds like all of MDIN's assets are subject to dilution, which is not true. So, you lied about whether there "has been" dilution, and you were misleading about what assets are subject to possible dilution. I will say, you're very professional at what you do- lying and misleading. I imagine you're paid very well. The only valid point which can be made about the upcoming restructuring is that beginning next week, the value of MDIN should reflect the sale of the remaining properties to Medinah Gold. But what does this mean? Prior to the commencement of the current drilling program, MDIN was trading at about 6 cents per share. As the drilling has proceeded, the share price has increased to what it is today. This increase in price has been primarily the result of the drilling results. Since the remaining properties have not contributed to MDIN's recent rise in price, I think it would be fair to value those properties as of the time prior to the commencement of drilling. Since MDIN was at 6 cents prior to drilling, the value of the remaining properties at that time was perhaps not more than 2 cents. This means that, relative to MDIN, Medinah Mining should lose no more than 2 cents of value following the division of assets. A negligible amount given all the events that are about to unfold. Incidentally, the approximate value (2 cents) I have assigned to the assets which are about to be sold, is relative to the outstanding shares of MDIN. Once those assets become part of Medinah Gold, the relative value should increase by a factor of 10 (.20 per share).