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Thanks wxdog
Huge is an understatement. It’s all that stops this stock from blowing its top.
I hope PT gets that & it happens due to gold sales. It looks more likely than ever now…
$ changes everything
I’m encouraged to see that the current course is continuing and MXSG will continue shipping carbon for payment every two weeks. Looks like the original shipment arrived about 30 days ago in Chicago. Payment in 15 days is welcomed with consistent cash to build on. If he stays the course then we’ll see positive things into the fall for the company.
Best news in years!
I’m hopeful they can pay off with revenue, but understand people’s caution.
However the huge positive is that dilution should be done. They are now producing gold monthly and have ended dilution. Stock price will rise if this continues. Probably see .01 soon... Especially if they keep producing gold. Most holders will not wish to sell until it’s over a penny IMO... with no dilution the supply drys up with increase in demand.
Best news in a long time.
Open market sales to help cover the note & get private placements in return.
Thank you Belgie24 for the picture! Much appreciated.
T-Hawk,
Agree with your frustration. I held MXSG for a long time and then sold out during the MarMar fiasco. I left completely and never thought about MXSG until something triggered a few months back and I am watching again.
Something is a bit different this time. I remember PT would never come out and say in the past that they got the chemistry figured out and could start mining for real. Looking back you could see the signs that MarMar was not working and they were trying to fix it behind the scenes without creating a panic. It failed miserably, I sold...
Fast-forward to today, PT is now saying that they will start mining for real with 100oz promised and full production ready.... I guess we'll see how "for real" we are.
I agree that the reason the stock has tanked is that the 10Q didn't show any revenue. This really is the sole reason in my opinion. The new debt is not the reason. Shareholders that are selling believe PT lied about the sale.
However, there is another possibility... The sale of gold was announced by PT after the contract was reached (i.e. contract date of the gold sale), thereby allowing him to announce in PR on 9/13. However, the settlement date wasn't reached (no gold exchanged hands during the 10Q time frame) - so no revenue. This would accurately show on the financials with no revenue and no AR. AR would show once the settlement date was reached (exchange of goods) but the buyer has yet to pay. (this is my understanding - note that I'm not an accountant)
Its also possible PT is lying, but I find that scenario unlikely - but always in the realm of possibilities. (I don't know the man) There is also accounting changes when commercial production is reached that impact liabilities etc. I've found information on this in mining journals, but haven't found anything yet that I can reference and have a 100% understanding. So, maybe this is the reason as well. I don't know.
Regardless, the share price is this low because of the 10Q revenue showing zero. I think this is probably a settlement date compared to contract date issue and not a lie. If PT is being honest and is about to pour 100oz or more, all he needs to do is put the ounces sold in an 8k release. Shazam, the share price will be fixed overnight.
I don't know if Dutch is being honest or not - have no experience to judge... but he appears to be a stand-up guy....
Never-the-less, something seems to be brewing. Should be interesting to see what that is shortly.
Yep - hold onto your butts :)
I think I"ll sticky this one.
Yep
The anti-MXSG fun certainly heats up when we approach the timeframe of significant news... same merry-go-round over again.
We were disappointed last time... should be interesting to see what happens this time in the next 10 business days...
I watching for two things...
1. Significant gold sales at Elena
2. VAT arriving at Ures and in production.... maybe even a sale of the first load.
Have fun and enjoy the entertainment!
“I get it though....we are getting closer to the end of the leach cycle and we are all trying to squeeze in a few more shares before this blows.”
Yep!
Yep, this is just the beginning...
New VAT should arrive at Ures this week.
Recovery should start at Elena on their current leach this week or next.
Interestingly enough both mines may announce significant gold with the same week. Wouldn't that be a hoot!
Sale was from the EW process and probably from the gold extracted 4-6 months ago - not from the current method they are currently leaching. This quote in the PR is encouraging...
"In addition, the mine engineer at the Santa Elena is pleased with the progress and expects a substantial increase in production moving forward.”
Most likely this statement is from their current leaching process. Today marks the start of the fourth week of leaching (I believe)... they may start recovery this week or next... next 2-3 weeks could be very fun with Elena & Ures releasing information.
I'm thinking its 2-4 weeks and we'll see the gold. Here's my thoughts...
1. Elena has been leaching for 3 weeks now, unless they've stopped it and haven't told us...
If its resolved there as MarMar believes and has been told to us in the last two PRs, then they should be starting recovery within the next week or two with an announcement as soon as the week of the 26th or the week after. If we don't hear anything by April 6th, then I would presume they are restarting the leach again for another flush. (Past communication has always been a 3-4 week leach before recovery attempt)
2. We know the 1st VAT & its supporting equipment is either at the boarder or in Mexico. Once it arrives, I'm watching for gold within two weeks, maybe three. There is probably a chance it could be within a week - but that would be with everything aligning...
So, week of March 26th, April 2nd, or April 9th is my guess...
Yep and for two reasons...
(1) My understanding is that the 8 oz was a test pour after the first run of the leach after discovering & running the fix for the excessive salt on the heap. As others with more knowledge than me have stated, they are essentially flushing it out with new cyanide and ore - i.e. the process Garcia set up for them. It could have worked the first time & I think they were hoping it would, but probably had too much salt still....
I hope people keep watching, because they are going to surprise everyone when they have it right... From what I can tell, all they need is time to flush.
From the last two press releases they may have it finally right and will release a nice pour in the near future - or they may need to run the leach a 3rd time (or more)... who knows.... BUT, it CAN BE fixed and it looks like they are making the fix currently with the leaching ongoing, just need some time to let the process work... If my WAG CALCs are correct, this is the 3rd week the leach has run, a pour before the end of the month is in the realm of possibilities...
(2) Once the VAT & equipment gets to Ures, they will be able to start pouring gold rather quickly... Only 3 days of VAT leaching once its all set up and connected w/ a pour the next day or two.... There is a good chance that equipment will make it to Ures this month.
All I know is that the game isn't over as some would like us to believe.
Funny part is, he'll probably be right.
Watch MarMar release gold pour numbers here shortly and surprise everyone....
Correction from 8 -
The VAT hasn’t shipped yet. Will ship on Sunday. What shipped last week was supporting equipment needed for Ures.
Agree 100%
One large VAT on a semi-trailer left Walnut Grove last Friday, March 2nd. (IR indicated when it left) We don't know yet if it has made it to Ures or is still clearing the boarder.
There is still 3 other VATs that are planned to be built (or are already built) and will ship. The goal is to run 4 VATS at URES.
Only 1 VAT is needed to process gold. Once the 1st VAT arrives & supporting systems, it shouldn't take but a few days to hook it all up. The ore is loaded into the VAT within a day, it leaches for approximately 3 days, and then the pregnant solution is drained into a separate holding tank that is run through the 100 mpg MC (built & tested a few months ago and already at URES). In other words, once hooked up, it should/could be pouring gold within the week. (not sure how much fine tuning there is)
The biggest question mark is how long it takes everything to clear customs and arrive at URES... however I do believe everything needed is either at Ures or already on its way.
I guessing this was an attempt to sell shares at the open - don’t really care either way - but you may be more right than you realize ;)
There is a lot of disappointment here, but I see two positive developments...
1. The VAT has left Cali and is on its way to Ures. Depending on how long it takes to clear customs, it could arrive in the next week or so. You could see gold there rather quickly once VAT reaches Ures.
2. The company is indicating that MarMar believes Elena is fixed and the leach is running again (for about 9-10 days now). If it is indeed resolved we should know by the end of the month.
Now, clearly they haven't been able to execute - so there is little confidence by many that these two items will happen...
But we are actually in the same place we were in Dec. In Dec they restarted the leach at Elena with expectations of gold at the end of Jan. Now we have the same expectations, but we've added the VAT at Ures (2nd option). The only difference is investor confidence in execution (and the additional shares out).... maybe they'll fail on both fronts, or maybe they'll succeed on one or both of them... who knows...I'm still here because I think they will be successful with at least one of them.
My thoughts as well. Probably too early to tell but appears to be some support in low 2s, bids keep surfacing... could see a small bounce once VNDM stops pressing...
I am cautiously optimistic on both fronts.
On the 16th we received the PR that MarMar was struggling. IR indicated that they were struggling to get the leach to release the gold to the recovery pond. 10 days later we received the PR that they believe they have it fixed and restarted the leach. Yesterday we heard that the leach is still running.
The test pour on the 16th indicates that they can recover w/ the big MC if there is gold in the pond. I don't know what they did, (maybe they stripped the pad and re-stacked) but I think they probably have it figured out - otherwise why restart the leach. The leach running for a week is not a sure sign by any means - but its positive... otherwise they would stop the leach.
Time will tell. If MarMar sells significant gold it will shock this stock price for sure...
Interestingly enough, the mine at Ures should be pouring gold around the same time. We either go 0 for 2, 1 for 2, or 2 for 2. I like our chances... All the failures actually increase our likelihood of success.
Agree with you both... Nothing wrong with bottom feeding to see if someone wants to dump with low volume.
It can be a little frustrating to see someone put their bid a tenth of a fraction of a cent below the ask with low volume as we just saw w/ a large trade. That doesn't help the buyer, better to hit the ask and make the ask dry up then let the bid dry up. Whichever dries up first is the direction the stock will move over time...
All that being said, the company performance will determine the final destination. MXSG needs to execute. PERIOD.
This is VERY WELCOMED NEWS!
Some will try to discrete the Elena update because they've had so many problems there, but there would be no reason to say they "feel they've fixed the problem" unless they were optimistic their solution is working. Maybe it won't work, but the last PR was very negative for Elena so things are looking up.
To state what they did means they've had some success in releasing the gold from the pad (probably in a smaller test area)... whether it works to conduct consistent gold pours is yet to be seen.... Looking forward to continued updates in March.
If we have good fortune maybe we'll see some gold sold from both mines next month... Not sure why anyone would hope different.
I’ll say!!!! Who would have thought we could possibly see two gold pours from two different mines this quickly!
Thanks rwalia - makes sense...
Yep - also, watching level 2 there appears to be only one seller left trying to exit. I think it is this same one seller (selling through NITE) that has been selling today and moving the ask around. Frankly I think this person has been selling since before the last PR...
When he/she is done, it should dry up. (should be soon from what I've seen on level 2) VAT is shipping in a couple days and "could" clear the border fairly quickly as its fairly uncomplicated... would be interesting to see if this stock does a turnaround back into the 3s over the next week as we do the "waiting game" again...
Agree Hoge - pretty clear to me.
Also appreciated the VAT pictures IR sent last night. Looks to be about complete and planned to ship on Wed for the border. I assume most of you received these pictures as well.
Fact
Yep - what LTT said
depends - for the most part - on how aggressive V-man is...
At this point, Mr. V-man controls this stock and can easily push it down or let it move back up into the 5s...even with our low volume.
Mr. V-man has been less aggressive lately and has been letting it rise with a little volume and sit with zero volume. I should send him a valentine's card.
Looks like one person only, looking to exit today... We'll probably bounce back up to high 4s...
As to MarMar and the gold - I wouldn't be so sure there is a delay ;)
My thumbs up turned into question marks ... there is no question- it’s good news!
Yep ??
Time will tell... Let’s meet here on Monday and see...
Today may not be the best day to sell with what could come on Monday. :)