MEDINAH MINERALS Question Answers June 19,
Post# of 689
MEDINAH MINERALS Question & Answers
June 19, 2012
Question & Answer postings are compiled from time to time, as an information source as to company actions and/or activities. Q&A posts will continue in the post-Joint Venture Agreement phase concerning Company activities, to provide ongoing information for the benefit of Medinah Minerals shareholders.
Q: What is the present status of the Altos de Lipangue funding? We are beyond anxious!!!!!!!
A: Señor Quijano, Company President and CEO, has continued working with the Principals and their Attorneys as to the funding provisions of the $180 million deal structure. The continuum of work with the Attorneys for the funding partner will hopefully bring finalization in the very short term.
Q: Is the LDM Chile mining operation progressing to a point of shipping ore?
A: Mining operations continue on the Compañia Minera LDM Chile property under the direct supervision of a certified Geologist and Mining Engineer. The stockpiling of ore continues at the site. The movement of heavy trucks was curtailed due to significant rainfall over the last 10 days. The road bed would have been compromised by loaded trucks of ore during this period. The weather has subsided and truck movement, over the 17-kilometer route, will now continue from the mine site to the ore staging site. Enami will then process the material(s) and results will be reported. Medinah Minerals, Inc. has a 30% free holding in the profits of the Las dos Marias mining operation. Medinah Minerals (Chile) S.A. has a 20% ownership interest in the operating company, Compañia Minera LDM Chile.
Q: At the Shareholder Meeting you folks said you were attempting to upgrade the company status. What has been done to raise our status level?
A: Our Company Attorney, Robert Hackney, has been working on all documentation necessary to elevate our reporting status, which is a very complex and tedious undertaking. The Directors are receiving timely updates as to his progress and direct meetings are scheduled at the end of this week with the Directors and the Attorney to advance this project and to discuss other contractual issues.
Juan José Quijano Fernández
President/CEO
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