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


To: James Randall Ingram who wrote (13941)5/14/1999 7:09:00 PM
From: on parole  Read Replies (1) | Respond to of 25548
 
James, I don't know if Mike is gone for the weekend or not so I'll respond. Yes, your assumption is correct.



To: James Randall Ingram who wrote (13941)5/14/1999 7:21:00 PM
From: Ken Sammut  Read Replies (2) | Respond to of 25548
 
James,

Exactly. Since MDHM management has met with the TA, I would think they would wait until all MDIN shares of record are accounted for before they make distribution of the Medinah Gold Dividend shares.

If the short position is as large as some think, the TA will report the shortage situation to the SEC and an inquiry will take place. The shorts will have to make restitution in some way or work out some deal with Medinah Gold management.

You would also think that the SEC will have questions regarding the illegal shorting and order compensation be made to MDIN/MDHM shareholders for illegally creating a higher number of shares outstanding which created downward pressure on the share price.

No idea how long this process will take.

Ken