Business
Shareholder Update - March 23, 2011
Shareholder Update - March 23, 2011.
About this update from Medinah Minerals, Inc.
[{"type":"text","content":"SHAREHOLDER UPDATEMarch 23, 2011 Dear Shareholders: Company Management has today received written documentation that the first tranche of funds, necessary to complete the initial catalyst part of the Joint Venture Agreement, are finally in the last stage of transfer to the Company bank account. Management will continue to monitor the funding process, on a daily basis, until we can affirm and report that the Company is in verified possession of funds received from our Joint Venture Agreement partners. The Company wishes to advise that the caveat of concern is still in effect - i.e., until we have verified funds in place, the Joint Venture Agreement is not fully consummated. As reported earlier, in our Question and Answer forum, Medinah Minerals (Chile) and Medinah Minerals, Inc. (USA) members have continued to work on numerous collateral matters in furtherance of the Company's short- and long-term goals. These efforts, in concert with the ultimate goal of acquiring necessary funding through the Joint Venture Agreement, are provided below: 1. Meeting and soliciting highly professional, international, geological management firms to augment the direction of the Alto de Lipangue project. This, to further provide additional 43-101 qualifying reports, leading to further exploration and eventual full production of the claims. A world-renowned firm is ready to assume immediate duties upon the receipt of payment(s).2. Discussions with Chilean contractors, including geophysical surveyors, diamond drillers, geologists, and mining engineers. Accepting resumes of those deemed qualified to assume required duties upon Medinah Minerals (Chile) receiving the anticipated funding. 3. Drafting of preliminary contracts for POLO Claims participation with a London-based Development Company. Receipt of a significant tender offer for exploration of the POLO claims by the London-based Company is expected in the next few days. Medinah Minerals, Inc. (USA) owns a 15% interest in this project.4. Medinah Minerals (Chile) members are actively participating in the reorganization of the Pumillahue claims, and Turner plant operation alterations. Medinah Minerals, Inc. (USA) holds a 5% ownership holding.5. En...