I want to share this with people because I believe this to be a great opportunity at a very good price right now. A notice has been posted on Medinahs web site for a share holder meeting in Febuary, which I will cut and paste into the next post.
Posted from members only rumor mill on 12/11/07
Here is some food for thought. I believe these two companies to be a huge play in the short future. Why is the next question so let me try to articulate the answer.
Both companies’ own land and claims in Chile. They have been working for a long time on some JV deals to develop this mine. There are a lot of rumors floating around wich are coupled by a few interesting facts.
Rumor #1
There is supposed to be over a million known ounces of gold in the ground here, plus large quantities of silver, copper, and molly.
Rumor #2
The prospective JV partners are big fish. I have heard one is Sumitomo Bank, also there is rumor of a large Peruvian mining company and a Chinese company involved.
Rumor #3
Shares of these JV companies will be issued as a dividend to share holders of Medinah and Cerro Dorrado
Rumor #4
Les Price Is the CEO of Medinah (fact) and he owns 200,000,000 of the 509,135,301 shares issued. And with Cerro Dorrado the insiders own half of the 186,497,506 issued.
Rumor #5
As always there is a huge short position in both companies and that Cerro Dorrado has received unsolicited phone calls from people wanting to buy shares direct.
Fact #1
Les Price Just got back from a two-week stay in Chile. The rumor is that JV contracts have been signed and he is in the process of drafting a press release.
Fact#2
The volume of these stocks has greatly increased over average in the last two weeks along with share price. There have been after closing trades the last three trading days at about a million shares each. Yesterday had three of them and one 1.5mil trade today.
Here are the web sites for these two companies for your own DD. They have a lot of information to start with.
http://www.cerrodorado.com/
http://www.medinah-minerals.com/