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[Mike Gold]

8/6/09  MG's Medinah Notes:

1) Meetings in Chile continue.  Will this week's round produce any results? Stay tuned. As is the last previous weeks..things are close enough that a break through/conclusion could happen at any time..or not.
2) May understanding remains that the primary partner has agreed to the terms and conditions of a JV..however internal subpartner issues remain to be worked out.   What they are is unknown to me. (Does Juan even know?) One of these days, they are going to hand Juan a check..but which day?
3) The second group thing is a red herring.  Period.
4) THERE WILL BE NO MEDINAH UPDATE-GET OVER IT! The Q&A was it!! Of course, the week is almost over..and from this weekend on going forward all bets are off.
5) Les is still around.
6) I expect to see short update from Cerro shortly and assume it will just mirror the recent Medinah's Q&A.   

[kmn]

To give a heads up so we do get some wild rumour. MDMN has moved their office. It was a cost saving move. They were paying $6000. a month. My guess is with the economy in Vegas it has had a real effect on some of the office rental prices just like the hotel rooms. They are saving $4000. a month with the move. It is an office in an office building. It probably explains the problems with the phone numbers. It is also another example of having to ask for information rather than them simply coming right out in the beginning and saying they were moving the office and why. Kirk

[kmn]

The lease was up. Do you sign another year or move a couple desks and computers to save a lot of money? There is a feeding frenzy of malcontent where simple logic gets thrown out so the rant can continue. Kirk

[kmn]

That point I agree with that they should have said something. But on the same point when I was told they did say something along the line of damned if you do and damned if you don't and then went on and spoke about a couple of emails that we could politely say were less than business like. If you let your frustration get the best of you when you do ask for information or clarification you will get treated in like. Anyone who thinks they can rattle Les with messages like that do not know him at all. Kirk

[THE ONE AND ONLY GEOLY]

dont expect anything next week.  Things seem to be on some type of hold pattern.  Trying to see what is going on.  Obviously we still have work to do here and its not days aways as we were told as of late.  My suggestions is to tell your sources to stop telling you anything cause it seems none of them have gotten it right. 

DID any of your sources even mention the move?  Exactly it seems that they like to work off of whats already out there and try to contain the info or even mold it to what they want it to be out there.

[richardpram]

In the Q&A report of July 30 ,2009 it is stated that Medinah's 5% stake in the Madre de Dios project should produce a positive cash flow late in the year. I am not sure but I think it was Mike Gold that mentioned a figure of 2 cents a share for Medinah from this venture. I could be wrong and stand corrected if I am way off base on this statement. Nonetheless, would this conclusion if true, not double or even triple the share price of mdmn from its present levels before 2010. The Q&A should have been helpful in easing some of the fears that have plagued the Medinah shareholders of late. There was a great deal of info there for those who took their time to study what was said. IMHO.......... Any comments would be appreciated. I want to add sufficiently to my position in this stock, but will not do so as long as there is so much confusion going on here. Thanks

[Handshake]

In the Q&A report of July 30 ,2009 it is stated that Medinah's 5% stake in the Madre de Dios project should produce a positive cash flow late in the year. I am not sure but I think it was Mike Gold that mentioned a figure of 2 cents a share for Medinah from this venture. I could be wrong and stand corrected if I am way off base on this statement. Nonetheless, would this conclusion if true, not double or even triple the share price of mdmn from its present levels before 2010. The Q&A should have been helpful in easing some of the fears that have plagued the Medinah shareholders of late. There was a great deal of info there for those who took their time to study what was said. IMHO.......... Any comments would be appreciated. I want to add sufficiently to my position in this stock, but will not do so as long as there is so much confusion going on here. Thanks

clsoe but when you look at the numbers is puts a value on the issued shares or book value if you will of 2 cents on the stock....

[Handshake]

1) where did he rumor that Stock has resigned originate?
Stock has resigned....Hmmmmmmmmmmmmmmmm   we are soooooo screwed!.
2) Are we really weeks away from the nearest realistic opportunity from seeing a JV announement?
3) What was discussed at the conference call between Chapin, Les, JJ, and Stock
4) Is the renewing a cheaper lease, and resigning of the Medinah IR, indicative of nothing happening anytime soon, and ernomad being right again?
5) Does anybody feel that current management ie. Les, chapin, Juan lack the skills necessary to finalize a Joint Venture agreement?

[kmn]

Yes Jim is a class act and he had a tough job running between management that had few tools to give him so he could do his job. On the other side some very frustrated and angry shareholders that took it out on him. As far as being screwed no we are not. Jim will be a big part of any transition, he has done a lot of preparation for a JV announcement and will be a pattern for the next IR to follow. Jim still believes in the JV and the property and has a vested interest as a shareholder and will always be close by in that regard. I want to thank Jim for his time and efforts in behalf of shareholders and respect his decision as the best for him personally. I also would not run wild and feel that he left because there is a problem with the JV or that it is a long ways off. Jim said what he felt about the JV and the prospects it would bring and has not changed his story, he is still a large shareholder in the company. Kirk

[THE ONE AND ONLY GEOLY]

Yes Jim is a class act and he had a tough job running between management that had few tools to give him so he could do his job. On the other side some very frustrated and angry shareholders that took it out on him. As far as being screwed no we are not. Jim will be a big part of any transition, he has done a lot of preparation for a JV announcement and will be a pattern for the next IR to follow. Jim still believes in the JV and the property and has a vested interest as a shareholder and will always be close by in that regard. I want to thank Jim for his time and efforts in behalf of shareholders and respect his decision as the best for him personally. I also would not run wild and feel that he left because there is a problem with the JV or that it is a long ways off. Jim said what he felt about the JV and the prospects it would bring and has not changed his story, he is still a large shareholder in the company. Kirk

KIRK when you deal with peoples money your gonna get an ear full when things are not working out the way you want things too.  JS got me in this and although he told me short term four years ago I dont blame him.  I should have done my DD.  Its not his fault He seems to get himself in this kind if place CTKH was another one we all had with him and that CEO did the same thing.  I guess he learned his lesson and cut it short this time.  He is HIGHLY INVESTED and has not taken a dime from MDMN.  THEY actually got him to give up all his other customers cause they told him he wont have time that this is ready to go.  THE drama continues!! 

[kmn]

Some things for management to get done soon.
I would imagine most of this will fall on Greg's shoulders.
They need an IR and in a hurry and hopefully have learned some valuable lessons and not leave another one hanging out there on their own with little information to work with.
Update the information about the new office.
Get some phone lines working properly and posted on the web site. Kirk

[kmn]

I would think that would be a near impossible task to get done in a week. I would hope they get a start on it. The first is to hire a new IR. Then the rest of the list would fall under the IR to get done. No sense updating the web site when there is no one there. I would think if they had a new IR in 2 weeks that would be on the fast track. I wonder what Dave D is doing these days. lol Kirk

[Usual Suspect]

If Jim is one I would not expect them to do anything.  In the past they never had a IR guy.  They will just sit on their buts and let this lapse into the mode of the past.  Look at Cerro's IR guy, Robertson.  He does not even speak to Les on a regular basis.  He calls the other shareholders for his info.  No one but Les and Chapin will ever talk to JJ and know anything first hand, so why bother with an IR guy.  No IR guy, no need for office, phone, etc.   Problem solved>

[kmn]

Jim is still very much bullish on a JV and his decision was a personal one. I think it was was a good decision on Jim's part. Jim will still be around as a shareholder and knowing Jim if there was a need after a JV is announced he will be there in a big way for us but more behind the scene. Kirk

[kmn]

The last I heard they were still meeting on the partners side. To me that means they are still working on it. I would not even want to suggest a time frame at this time. Kirk