MEDINAH MINERALS Question & Answers
November 11, 2008
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.
1) What is the status of the Russell Godwin lawsuit?
A: Defense claims, counter-claims and expanded claims against the executors of the Gordon House Estate have been filed on behalf of Medinah Minerals in court documents. Demand for documents and proof of Russell Godwin claims have been made without receipt, or proper response. Appointments for Examination of Discovery of all documents are proceeding against all counter claim defendants.
2) In the latest filing of interim financial statements, it shows Medinah posting revenue of $35,335. Please advise as to the source.
A: These are fees received for management and advisory services, non-related to the pending Joint Venture Agreement.
3) Would a shareholder be welcomed if he visited management in Santiago, Chile? Some of us would like to see “first hand” where we are, physically, with regard to the status of the project.
A: Juan Jose Quijano-Fernandez, President & CEO, is always pleased to host shareholders at the Alto de Lipangue, Chile project, subject to advance notice.
4) Would Medinah Minerals management acknowledge to its shareholders if a set-back would (or already has) occurred, regarding the JV process? Or, are we still going to be kept in the dark, months from now, regardless?
A: Without question, any unwarranted delay in the Joint Venture process would be reported to the shareholders via the Company’s official web site.
5) It seems the company has been updated recently by Pink Sheets, but we are still classified as a “Limited Information” lister.
Specifically, what will it require to advance onto Pink Sheets’ top ranking of transparent companies?
A: Although the process is time consuming and exhaustive, Medinah continues to provide information so as to achieve the desired elevated listing status on Pink Sheets.
6) Does the Board of Directors expect to increase in the near future?
A: No. This matter can be addressed at the Company’s next AGM (Annual General Meeting).
7) At the February 2008 AGM the shareholders were informed by the esteemed Mr. Juan Jose Quiano-Fernandez that the expected Joint Venture would be “soon.” Nine months later, still no JV deal has been made. Why should shareholders believe in him anymore?
A: Juan Jose Quijano-Fernandez continues to diligently work on completing the JV for the benefit of the Medinah shareholders. Given the current state of the world’s macroeconomic trials, JV negotiations are more difficult to finalize, but Medinah’s finalization prospects remain excellent.
