New Questions Answered on Medinah’s Q/A Forum
Jul 12th, 2007 by admin
http://www.medinah-minerals.com/Q_A_Website.html
Q) Please explain why we increased our claims by 4X?
A) When our geologists, working in consort with several majors, did an evaluation of the copper/moly claims extending to the south of our main claim group, a recommendation was made to extend our roads to these properties and to obtain additional properties to make a continuous claim block. Our past development programs did not extend to this area.
Q) Why hasn’t the company drilled more?
A) Drilling has already outlined a significant mineral resource on the Alto de Lipangue that potentially expands in all directions and depth.
At the shareholder meeting of May 17, 2004, a clear mandate was given to the Directors by the shareholders to organize the properties and the company into a format that would facilitate the company negotiating with major mining companies for a beneficial Joint Venture Agreement or sale of the properties. There was no desire on the part of Management or shareholders to engage in additional exploration programs or was it considered beneficial to the desired outcome.
Q) The 2006 expense sheet shows over $189,000 spent on “direct exploration” in Chile. How was this expense paid for or is it still an outstanding obligated?
A) The $189,000 was paid for by direct investment from the Officers, Directors and Associates of the company.
Q) What percentage of the property Lipangue does MDMN own? Is it 100%, 10%, etc.?
A) The Chilean company – Medinah Chile, S.A. – owns 100% of the claims, with the exception of two claims that Medinah owns a 10% free-carried interest. Medinah Minerals, Inc. USA owns 50% of the shares of Medinah Chile, S.A.