Business
Shareholder Update - December 2010
Shareholder Update - December 2010.
About this update from Medinah Minerals, Inc.
[{"type":"text","content":"Shareholder Update – December 2010 Medinah Minerals, Inc. Management has now proceeded to the finalization stage of the Joint Venture Agreement (JVA) on the Alto de Lipangue property in Chile. A recent series of meetings conducted in both Miami, Florida, and Santiago, Chile has resulted in a conclusionary JVA encompassing all issues and legalities necessary, and legally required of each of the respective parties. The caveat warning of the JVA finalization will be the actual receipt of the initial tranche of funding that is slated to be released on or before January 15, 2011. The Company will then be released from various Non-Disclosure Agreements and full disclosure can then be made as to the complete terms and conditions among the parties to the Agreement. In preparation, the companies have initiated an early set up of the needed exploration and development program under the supervision of an internationally recognized company. Simultaneously, the companies will undertake the reality of allowing/commencing a production program at the Las Dos Marias gold and copper claims. If all matters proceed as stated and planned, Medinah Minerals, Inc. will call for and host an Annual General Meeting for Shareholders that will be scheduled on or about the end of February, 2011. Ongoing negotiations by Management have concurrently continued regarding a Joint Venture Agreement as to the POLO claims in which Medinah Minerals, Inc. owns a 15% interest. Completion of Agreements and startup of a viable exploration/drill program is anticipated to begin early in calendar year 2011. The Pumillahue project, in which Medinah Minerals, Inc. holds a 5% interest, has encountered some difficulties. An internal review resulting in a reorganization/buyout plan is on the negotiation table. Medinah’s holding is a minority interest and the Company will monitor the developments and report results to the shareholder body when determined. May the Holiday Season bring to each of you and your families the happiest of Yuletide Festivities. We wish to extend to all our loyal shareholders our sincere gratitude for all your support throughout the past “difficult” year of trials. The Company is truly looking forward to “at last” being able to report major develop...