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[wtxpa]

it seems that the naked shotring is the word right now in the penny stock world.I am hearing shareholder complaints from the other sub dollar stocks more than ever before. I will say it would be a lot easier to short squeeze CDCH than MDMM because of the float. I haven't understand how we , because of the huge shares outstanding could short squeeze MDMN unless we got incredible drill results. I heard we control the CDCH float with certs. I still have CDCH shares in cert form because TDameritrade wouldn't accept them back so I am holding them till they will take them on value merits. I had to twist TDameritrade to take back the certs after numerous phone calls and complaining. It will be interesting to see how this plays out but 1st we need a signed deal. I expect some compromise on our part as I feel JJ's asking price is too high for the property without more drilling..We shall see..GLTA Kevin

[Mike Gold]

This has been previously posted: http://regsho.finra.org/regsho-Index.html

Look under the heading "ORF", pick the day of interest..and scroll down until you see MDMN.  Historical information is also available.

"Aggregate reported short volume of executed short sale trading during regular trading hours."

This is only a glimpse of the short story...and is by no means complete but even the glimpse is exciting for any long investor.

The "naked" short part of the equation remains invisible.

I should note that CDCH and probably thousands of other pinky are all part of the same game.

unless you guys can tell me why any of the fortune 500 companies also show a 30-60% daily short on that site (let alone the correct volume), i have absolutely ZERO confidence in the numbers they are posting.  it must be something else they are counting besides what most are thinking.

Best post of the month.

LOL!  It is a good thing I don't value your opinion in any case, Comrade!

FYI..I believe the short data is accurate.

For instance, refer to this link: http://www.highbeam.com/doc/1G1-210863752.html

Shows that on a particular day, 49% of ALL trading volume on the NASDAQ was short selling.  Do a little surfing and you will realize the shorting occurs a lot more than one might think.

What is note worthy about Medinah's shorts..is that it is NEVER covered and has been building up for over a dozen years.  The same can't generally be said about the larger CAP's. Oh..and another 1.5 million shares was shorted today.

best post of the last two months

ball is in your court metal man!

Mike, explain why you think that it is never covered.  The stats only show shorted shares. they don't show buys that are short covers.

Several reasons.

One thing we do know..the SEC put a grandfather clause in SHO for the pre-existing naked short position as they were worried about market turmoil.  In other words, they very well knew about how big the existing short positions were..and were worried that long investors would make a lot of money-can't have that happen!

Here's something else to ponder, note the implications of "temporary" equals "years".

"The stock borrow program at the NSCC (a subsidiary of the DTCC) enables that entity to borrow shares from an anonymous pool, and effect delivery to the buyer. The NSCC then creates a debit in the seller's account, and holds the cash from the sale (minus commissions, of course) as collateral. It charges a fee to do that, and the program was designed to accommodate "temporary" delivery failures - but has been abused over the years, as "temporary" has no fixed definition, and some unscrupulous hedge funds think "temporary" means years."

Then we have what Doc posted yesterday:

"Nobody covers though.  Why?  Because it costs money to cover and due to corruption on Wall Street you can gain access to the funds of investors even if you sell shares that don't exist and never deliver that which you sell.  These crooks never, never, never cover preexisting naked short positions until forced to.  Aggregate levels of prexeisting naked short positions go constantly upwards because of this."

Here's another quote:

"Once a naked short position gets to a certain level the bad guys need to naked short sell all day long just to keep the collateralization requirements tolerable for an astronomic naked short position. If they merely stopped their daily naked short position then the share price will gap upwards. It’s tough to cover an astronomic naked short positon in a market that’s already gapping upwards. After covering 10% of your naked short position the price level might be at a level wherein the collateralization requirements for the other 90% might be financially prohibitive"

Here's another quote/thought to consider from a different expert-if you cover-you have to pay taxes!

"The first being that on a naked short sale, the person who has engaged the naked short sale only has to pay taxes when or if they ever "cover" that security in the open market. As stated by the SEC, it is often not the intention of these naked short sellers to EVER cover their naked short positions. If companies declare bankruptcy, the naked short sellers never cover their positions and never pay taxes on the money they pulled out on a mark to market basis"

Here's a link that covers the topic about as concisely as you can have in this rather complicated subject:

http://www.ncans.net/intro%20to%20naked%20short%20selling.htm

[dcbass]

Alright you people with Chilean contacts... what is going on down there?  How are things progressing?  Any feedback from down there?  I wonder if Les is checking his emails. Geoly, have you heard back via email?  I guess the earthquake might have disrupted a good amount of the internet access down there.

[funnyman]

Alright you people with Chilean contacts... what is going on down there?  How are things progressing?  Any feedback from down there?  I wonder if Les is checking his emails. Geoly, have you heard back via email?  I guess the earthquake might have disrupted a good amount of the internet access down there.

Yes, we have heard enough about the naked shorting , when are we going to hear anything about the JV negotiations..any rumours..we will take anything..seriously,no sarcasm please.
If nobody knows anything..fine.

[roundmot]

this is the best presentation on the subject of Naked Shorts I have ever seen.

http://www.deepcapturethemovie.com/

[dcbass]

Friends in Chile are saying that there have been several earthquakes recently, one today at 7.2.  Looks like our boys are going to tough it out down there.  Yikes....
and no these friends of mine can't help with MDMN DD....

[geoly37]

Alright you people with Chilean contacts... what is going on down there?  How are things progressing?  Any feedback from down there?  I wonder if Les is checking his emails. Geoly, have you heard back via email?  I guess the earthquake might have disrupted a good amount of the internet access down there.

LES has not responded AND I dont believe They ever send anything out while down there right?  KMN MG anything?

[The Rod]

SORRY for the non Medinah posting but I thought this might keep us amused and give us something to watch while we wait for Medinah (MDMN may also see this kind of market buys/sells etc.)

For any of you into PURE speculation (and I gather it is a lot of us !) take a look at KWG Rescouces and Spider Resources on  the TMX (Toronto Venture).

Ready for a wild prediction ?  I think Cliffs Natural Resources is going to make a takeover play for KWG.
Cliffs owns 50% (through Freewest which it took over a few months ago), KWG and Spider each own 25% of the Big Daddy Chromite play (extremely pure in deposit terms, and pretty large [typical of many drill results: 30-40+% Chromite 30 -90 meters ). If not then there is something afoot.

Use stockwatch to get a good info sample ...
  http://www.stockwatch.com/oldsite/oldsite_quote.aspx?symbol=v:kwg v:spq

GO MEDINAH GO

[kmn]

Alright you people with Chilean contacts... what is going on down there?  How are things progressing?  Any feedback from down there?  I wonder if Les is checking his emails. Geoly, have you heard back via email?  I guess the earthquake might have disrupted a good amount of the internet access down there.

LES has not responded AND I dont believe They ever send anything out while down there right?  KMN MG anything?

They are being very good and nothing is coming out of Chile. Outside that we know they are there pretty much everything else is speculation. Greg and Les are suppose to be returning next week Wed. Kind of makes you wonder that they knew before they went down when they were returning. Almost sounds as though there was an agenda. Kirk

[Elrac]

More rattling!


A series of powerful aftershocks hit Chile on Thursday just 12 days after February's massive earthquake and minutes before the new president, Sebastian Pinera, was sworn in.

The U.S. Geological Survey said the second in a series of seven aftershocks was a magnitude 6.9. It struck about 125 kilometres west-southwest of Santiago and was measured at a depth of 10 kilometres. The USGS initially estimated the aftershock at 7.2.

Chile's navy issued a tsunami warning after the aftershocks shook the region. There were no immediate reports of damages or injuries.

The aftershocks were a reminder of the 8.8-magnitude quake that struck Chile on Feb. 27 just off the coast, which caused buildings to collapse and triggered a tsunami that battered the country's coastline. About 500,000 homes were destroyed and hundreds of people were killed.

The aftershocks came as Pinera's inauguration ceremony was about to get underway in the coastal city of Valparaiso, about 120 kilometres west of Santiago.

A map of aftershocks to hit Chile since the magnitude 8.8 earthquake struck on Feb. 27. Larger circles represent stronger tremors. (USGS)
The event attracted dignitaries from around the world, including Peter Kent, the Canadian minister of state of foreign affairs for the Americas. Bolivian President Evo Morales seemed briefly disoriented when the aftershocks struck. President Alan Garcia of Peru joked that it gave them "a moment to dance."

Pinera entered the hall of Congress to loud applause, shaking hands with politicians and dignitaries before swearing his oath as president.

He then urged coastal residents to move to higher ground and had the hall of Congress, which itself lies close to the coastline, evacuated.

Pinera, who succeeds Michelle Bachelet, has vowed to spend billions on reconstruction efforts and accelerate economic growth.

Chile has estimated that repairing infrastructure alone after the disaster would cost $5 billion US, and that overall recovery costs could soar above $15 billion US.



Read more: http://www.cbc.ca/world/story/2010/03/11/chile-inuguration.html#ixzz0huH7qxgc

[themetallurgist]

Several reasons.

One thing we do know..the SEC put a grandfather clause in SHO for the pre-existing naked short position as they were worried about market turmoil.  In other words, they very well knew about how big the existing short positions were..and were worried that long investors would make a lot of money-can't have that happen!

Here's something else to ponder, note the implications of "temporary" equals "years".

"The stock borrow program at the NSCC (a subsidiary of the DTCC) enables that entity to borrow shares from an anonymous pool, and effect delivery to the buyer. The NSCC then creates a debit in the seller's account, and holds the cash from the sale (minus commissions, of course) as collateral. It charges a fee to do that, and the program was designed to accommodate "temporary" delivery failures - but has been abused over the years, as "temporary" has no fixed definition, and some unscrupulous hedge funds think "temporary" means years."

Then we have what Doc posted yesterday:

"Nobody covers though.  Why?  Because it costs money to cover and due to corruption on Wall Street you can gain access to the funds of investors even if you sell shares that don't exist and never deliver that which you sell.  These crooks never, never, never cover preexisting naked short positions until forced to.  Aggregate levels of prexeisting naked short positions go constantly upwards because of this."

Here's another quote:

"Once a naked short position gets to a certain level the bad guys need to naked short sell all day long just to keep the collateralization requirements tolerable for an astronomic naked short position. If they merely stopped their daily naked short position then the share price will gap upwards. It’s tough to cover an astronomic naked short positon in a market that’s already gapping upwards. After covering 10% of your naked short position the price level might be at a level wherein the collateralization requirements for the other 90% might be financially prohibitive"

Here's another quote/thought to consider from a different expert-if you cover-you have to pay taxes!

"The first being that on a naked short sale, the person who has engaged the naked short sale only has to pay taxes when or if they ever "cover" that security in the open market. As stated by the SEC, it is often not the intention of these naked short sellers to EVER cover their naked short positions. If companies declare bankruptcy, the naked short sellers never cover their positions and never pay taxes on the money they pulled out on a mark to market basis"

Here's a link that covers the topic about as concisely as you can have in this rather complicated subject:

http://www.ncans.net/intro%20to%20naked%20short%20selling.htm

Naked short selling and short selling should never be used in the same paragraph, let alone the same post.  They are night and day different (for the most part).  Short selling is totally LEGAL, where naked short selling is totally ILLEGAL.  i'm sure everyone already knows this.

The MMs have to report how many shares they short of each company.  They are required to buy those shares back within a certian time period... 2 weeks, 1 month?  i don't know for sure how long, don't care. 

MMs don't report how many shares they have naked shorted, because obviously, it's illegal.  They won't say hey SEC, I broke the law everyday for the past 10 years... and again, i'm sure everyone knows this.  nobody will ever know how many naked shares are floating around, and as the doc says, MMs don't care b/c there's 99% of all other companies that will die off to make money from.  i'm not even convinced MMs would EVER cover the naked shorts, but like i said, we're talking about the legal shorting SHO list, not the illegal naked shorts.

About the SHO list.  There is no way they can short MDMN or any other company 50% of the daily volume EVERYDAY.  They have to purchase the shares they shorted within a certain timeframe or they are fined.  The volume showing the purchase of shorted shares is never there.

Example - Over the course of 1 week, if they short everyday, monday-thursday 50% of the daily volume (say 2M shares) of MDMN, they would have to repurchase 4M shorted shares above the average daily volume on friday, for a total volume of 6M that day.  You just don't ever see that volume in pinkies or the fortune 500 companies.

let's look at today's data on Apple from the SHO list - 3,193,786 shares shorted on 6,685,671 volume.  First of all, the real volume today reported by Yahoo was over 14M.  The shares short as reported by Yahoo (under Key Statistics) also doesn't even come close to this constant shorting trend 50% everyday. 

none of these numbers posted by the SHO list make sense.  i don't know how to use that data b/c i have no idea how they got it or what exactly they are counting.  the only people that use it are the guys who trade penny stocks and want to add more sugar to the kool-aid!      

[Mike Gold]

Several reasons.

One thing we do know..the SEC put a grandfather clause in SHO for the pre-existing naked short position as they were worried about market turmoil.  In other words, they very well knew about how big the existing short positions were..and were worried that long investors would make a lot of money-can't have that happen!

Here's something else to ponder, note the implications of "temporary" equals "years".

"The stock borrow program at the NSCC (a subsidiary of the DTCC) enables that entity to borrow shares from an anonymous pool, and effect delivery to the buyer. The NSCC then creates a debit in the seller's account, and holds the cash from the sale (minus commissions, of course) as collateral. It charges a fee to do that, and the program was designed to accommodate "temporary" delivery failures - but has been abused over the years, as "temporary" has no fixed definition, and some unscrupulous hedge funds think "temporary" means years."

Then we have what Doc posted yesterday:

"Nobody covers though.  Why?  Because it costs money to cover and due to corruption on Wall Street you can gain access to the funds of investors even if you sell shares that don't exist and never deliver that which you sell.  These crooks never, never, never cover preexisting naked short positions until forced to.  Aggregate levels of prexeisting naked short positions go constantly upwards because of this."

Here's another quote:

"Once a naked short position gets to a certain level the bad guys need to naked short sell all day long just to keep the collateralization requirements tolerable for an astronomic naked short position. If they merely stopped their daily naked short position then the share price will gap upwards. It’s tough to cover an astronomic naked short positon in a market that’s already gapping upwards. After covering 10% of your naked short position the price level might be at a level wherein the collateralization requirements for the other 90% might be financially prohibitive"

Here's another quote/thought to consider from a different expert-if you cover-you have to pay taxes!

"The first being that on a naked short sale, the person who has engaged the naked short sale only has to pay taxes when or if they ever "cover" that security in the open market. As stated by the SEC, it is often not the intention of these naked short sellers to EVER cover their naked short positions. If companies declare bankruptcy, the naked short sellers never cover their positions and never pay taxes on the money they pulled out on a mark to market basis"

Here's a link that covers the topic about as concisely as you can have in this rather complicated subject:

http://www.ncans.net/intro%20to%20naked%20short%20selling.htm

Naked short selling and short selling should never be used in the same paragraph, let alone the same post.  They are night and day different (for the most part).  Short selling is totally LEGAL, where naked short selling is totally ILLEGAL.  i'm sure everyone already knows this.

The MMs have to report how many shares they short of each company.  They are required to buy those shares back within a certian time period... 2 weeks, 1 month?  i don't know for sure how long, don't care. 

MMs don't report how many shares they have naked shorted, because obviously, it's illegal.  They won't say hey SEC, I broke the law everyday for the past 10 years... and again, i'm sure everyone knows this.  nobody will ever know how many naked shares are floating around, and as the doc says, MMs don't care b/c there's 99% of all other companies that will die off to make money from.  i'm not even convinced MMs would EVER cover the naked shorts, but like i said, we're talking about the legal shorting SHO list, not the illegal naked shorts.

About the SHO list.  There is no way they can short MDMN or any other company 50% of the daily volume EVERYDAY.  They have to purchase the shares they shorted within a certain timeframe or they are fined.  The volume showing the purchase of shorted shares is never there.

Example - Over the course of 1 week, if they short everyday, monday-thursday 50% of the daily volume (say 2M shares) of MDMN, they would have to repurchase 4M shorted shares above the average daily volume on friday, for a total volume of 6M that day.  You just don't ever see that volume in pinkies or the fortune 500 companies.

let's look at today's data on Apple from the SHO list - 3,193,786 shares shorted on 6,685,671 volume.  First of all, the real volume today reported by Yahoo was over 14M.  The shares short as reported by Yahoo (under Key Statistics) also doesn't even come close to this constant shorting trend 50% everyday. 

none of these numbers posted by the SHO list make sense.  i don't know how to use that data b/c i have no idea how they got it or what exactly they are counting.  the only people that use it are the guys who trade penny stocks and want to add more sugar to the kool-aid!      

You made a LOT of mistakes in your comments.  I will let Doc correct you if he feels like it.

One thing worth pointing however, is that Medinah is NOT on the SEC SHO list as it is not a reporting company. (It was on the list briefly back in 2005 by mistake.) The "list" of companies that short selling data is available for..is not the same as the SEC SHO lists which requires certain actions be undertaken if a company stays on the list.

[The Rod]

Now here's something that seems to totally contradict the short interest we've been hearing about !

http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=mdmn#getShortInfo

It gives bi-monthly short interest.  For example,

Date       Short Interest   
Feb 26, 2010   0
Feb 12, 2010   8,080
Jan 29, 2010   6,500

Is the info incorrect or is it just one source of the overall data ?

[kmn]

Here is something interesting as it was mentioned some time ago that there was a shortage of labs and that caused unreasonable wait times to have your drill results analyzed. Kirk

PR Log (Press Release) – AMINPRO-Chile, an amalgamation of Amelunxen Mineral Processing Ltd (AMINPRO Canada) and Amelunxen Mineral Engineering Ltda (AME Ltda Chile), is a joint venture that was initiated to service the growing demand for high-confidence metallurgical test work in Latin America. The new lab in Santiago will provide a novel approach to geometallurgical profiling and aims to give clients the tools and flexibility they need to take ownership of their own programs.

Chile has great expertise in geometallurgy, but until now there has been no facility in the area that combines front-end engineering services with high quality / high capacity testwork. The region continues to experience rapid growth in the mining sector and the two companies are pleased to support this growth. AMINPRO Chile will also provide new technologies, employment and training opportunities in Santiago.

“This is an exciting time for geometallurgy in Chile,” states Roger Amelunxen, owner of AMINPRO Canada. “In collaboration with established laboratory facilities in Santiago, we are aiming to provide the full spectrum of services for the regional mining industry. Over the last few years, more and more samples have been shipped to North America for metallurgical test work, and now we can eliminate this costly and inefficient process by offering high quality work right in Chile.”

Roger and his son Peter Amelunxen, who operates AME Ltda, together bring over 50 years of collective experience in metallurgical laboratory test work, plant design, operation, and optimization. Technical management of the metallurgical laboratory will be the responsibility of Romke Kuyvenhoven, who has extensive experience in metallurgical testing and who has almost 15 years of professional experience in the mining industry in Latin America.

Equipment sizing and circuit configuration will be offered to all clientele by using the AMINPRO process models for crushing, grinding, flotation and dewatering. Linked to an international network of specialists in drafting (Microstation/CAD) and engineering disciplines, AMINPRO Chile will be able to deliver front end process plant engineering services at very competitive rates.

Clients can therefore request, together with a geometallurgical test program, the following optional deliverables: economically optimized process flow diagrams, mass and water balances, process design criteria, basic equipment list and basic layouts.

“We are delighted to open this facility in Santiago and we are excited to work with other labs in the area,” concludes Roger Amelunxen. “We hope this new partnership will fundamentally improve services for the mining industry in South America.”

The AMINPRO Chile lab is located at  Caupolicán 9192, Quilicura.

About AMINPRO Canada

Amelunxen Mineral Processing Ltd. (AMINPRO) is a Canadian firm that provides consulting services, in mineral processing of base metal ores, to prospective mine developers and operating plants. AMINPRO’s specialties include plant design and feasibility studies, geometallurgy test work, grinding and flotation modeling, column flotation design and fabrication, plant audits and optimization.

About Amelunxen Mineral Engineering (AME Ltda), Santiago

AME Ltda is a mineral processing plant design and optimization company based in Santiago, Chile. AME Ltda specializes in high-confidence mineral processing test work, modeling, optimization, and plant design for scoping, pre-feasibility, and feasibility level engineering programs.


One more point is that this will be up and running this April. Kirk

[kmn]

Looks like another weekend shot, anxiously waiting around to hear something ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------anything. Kirk