Mexus Gold US (MXSG)

[TMLonggun]

Once the option is exercised, Argonaut will hold an 80% interest of Newco and Mexus will hold a 20% interest in Newco. All mining operations will be funded by Argonaut at no cost to Mexus. Newco will be managed by three board members, one of which will be Mexus.

So Mexus receives no cost production? My read of this is that Mexus has structured itself almost like a royalty company/streamer. 20% zero cost gold is more than 40% pay your own share.

Argonaut will have a big heap operation going there in no time. Absolute minimum would be 100k oz from a small leach operation combined with a minimum of 20k oz from the UG which would give Mexus 24k ounces which is about 30 million before tax or about 10 cents per share or $1/share at x10.

So I think we may have just got everything we wanted.

Since the grades are so high and Argo has control a 250k heap with a 50-100k UG is probably the medium term goal.

Congrats everyone. A 20% stream on a soon to be giant mine is way better than a kick in the ass and no pie at all.