Repost from the 'other' board... WMO special...
It's been a really crappy day here in Georgia....rain, thunder, cold; just an all around bad day. And since I had nothing else to do I did manage to get a few phone calls in and I actually think I may have learned something.
I think we can all agree that Les Price has been less than honest with most of us when it comes to telling us the truth. Les is more interested in telling us what we want to hear. So for the past heaven knows how many months, depending on who you are and how long you have been here, we have kept getting the same story line from Les, next week, next month, call me at the end of the week I'll know more, etc., etc., etc.
So finally some time after the first of the year Greg Chapin comes home to find numerous emails and phone messages disparaging his character, his lineage, his good name and probably a few other things he didn't want to hear. So now he decides to take the bull by the horn and do a little pushing of his own.
After much consultation with Juan it is decided that they, Les and Greg, will make a trip to Chile. So they plan it and they are scheduled to leave the first week of March. It's supposed to be a fact finding mission for Greg. He has just spent a week in Vancouver catching up on Medinah history, which he could have done better by just sitting down with Handshake, and he's ready to go.
And then all of a sudden an earthquake, 8.8 on the richter scale, hits Chile. After numerous years of dissappointment it looks like another obstacle gets in the way. Not an excuse but a real honest to God obstacle that not one share holder doesn't understand. A God given excuse not to go to Chile. Les is absolutely elated he doesn't have to think of an excuse for why Juan doesn't have a deal for the next six months. And low and behold what happens.....Les and Greg go to Chile anyway. YGBSM!!!!
I kept asking myself why. I wanted them to go but I kept asking myself why. Turns out I am not the only one asking that question.
This is from the Q&A of February 4th:
Q: When and with whom will a joint venture agreement
be completed?
A: While the parties to the Proposed Agreements have been determined, the Company remains legally bound by Non-Disclosure Agreements. The Company is not withholding information from shareholders. The Company is complying with legalities. The Company was, in the past, cited for negligence in posting information about a potential JVA partner. Based on our “jumping the gun,” the potential JVA suitor rescinded their interested negotiations and left the bargaining table. The Company does not wish to be seen as a violator of Corporate Governance by violating the terms and conditions of a Non-Discloser Agreement. Señor Juan José Quijano continues to negotiate with the parties, their lawyers and representatives, providing information as they require in a spirited effort to finalize an Agreement. Upon the conclusion of any Agreement, the Company will issue the appropriate News Releases immediately on the official Company website. Of note, any dissemination of information not officially presented on the Company website has no validity and should be deemed hearsay and non-credible.
As someone pointed out to me today that paragraph written by Greg says that we have a partner selected, they can't tell you who it is, but Juan continues to negotiate with the parties, their lawyers and representatives......They arent' down there to help Juan figure out which of the 7 options he put in his update will be their partner. They already have made that decision. So if Juan still has some negotiating to do and there has been an earthquake.......why go?
It has been rumored that the BOD of CDCH is on the verge of resigning or at least being replaced. Why now? If we are a long way from the closing of a deal why not leave them where they are? And yes I have confirmed this.....
Also, we have heard numerous times that the JV group we are speaking with will be involved in someway with the LDM. From Juans update 24 February:
B. Las dos Marias Project
We do a lot of visit and technical work. The last decision is not to do a vertical tunnel of 70 meters over the high grade (drill No 2 between 68 to 70 metters) or to came per horizontal tunnel from the north big creek located 350 metters to the north. We will begin a tunnel with a 25% inclination that will permit to cross the drill No 1 (sector o value) and to go to the drill No 2 at 70 metters deep (sector of value). This inclinate tunnel will have around 140 metters and permit to begin gold production in late April 2010. The bulldozer Cat will be working in three days more.
The key words in this paragraph are gold production in April of 2010. Yes that is going to move back some because of the earthquake but it won't be to far back and if our partners can make enough to pay for their drilling on the Alto so much the better for them.
The reason for the long missive is just to point out to everyone what is going around in circles. There is a rumor of an announcement of a JV between now and Monday. I have head that from two separate sources today.
I personally dare not to believe it. My heart can't take the strain. Do I hope so......Fukkin a bubba!!!!!!!
And for those that think this will get some volume before this is done that ain't going to happen. Those that have bought are already in including family, friends, JV underlings and anybody else who has an inkling.
Let's see what happens this week.......GLTA
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Topic: Medinah Minerals and Cerro Dorado - The Main Discussion (Read 374493 times)