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MDMN Blog provides investor due diligence and commentary regarding Medinah Minerals.
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Must Read Due Diligence
Per the latest news release, AURYN Mining is in the process of doing an airborne magnetics/spectrometry survey of the property. There will be a grid created that is 15 kilometers (N/S) by 10 kilometers (E/W) with a 200 meter spacing except one hundred meter spacing near the Gordon pipe. This will dwarf previous efforts.
With July 2014 in the books and MDMN’s share price closing just about at the high of the day (and the month) at .1049, the monthly candle forms a bullish technical scenario heading into August and marks the first time since October 2005 that MDMN strung together 4 straight green monthly closes. This 4-month run obviously solidifies the MDMN’s long term technical reversal as the stock logs in higher highs and higher lows coming off of the 1-2-3 Reversal Pattern that we’ve been highlighting for the past few months.
Medinah has posted the most recent geologist’s assay of copper ore from the LDM/NUOCO mine. The ore is being shipped to the Til Til mill for processing. Cornhuskergold from The Mining Play forum writes the following: The report of 5.3% copper is fantastic. Big open pit mines mine stuff from 0.25% and up. Something like 1% or 1.5% is considered “high grade”. See Nevada Copper who is literally constructing a 2100 ft deep vertical shaft to get at a 35Mt pile of copper ore that is “high grade” averaging 1.5% (http://www.nevadacopper.com/s/Home.asp)
An opportunity to profit from something usually exist because of one or two things. Either a) very few people are aware of it, or b) very view people understand it. In Medinah Minerals case, I believe it is both. Traders make money off the concept of divergence. Basically it means the price is going one way while the indicators are going another. For MDMN, we are in a state of fundamental divergence and it is an opportunity to profit.