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"gitreal Member Level Thursday, 03/26/20 07:49:53 PM
Re: saildone post# 36545 0
Post #
36547
of 36553
Yes, and that loan was paid off.
At what cost? Paying off a toxic loan before it becomes convertible involves penalties and interest that make payday loans look like nothing.
How many new toxic loans has Mexus taken out since the 10-Q came out? Any guesses"
So just ignore this toxic nonsense? What toxic Mexus paper? What's being called daily a scheme to defraud by perfectly legal SEC approved private placement restricted shares with no current brokerage market as one of few financing means possible for a non resource proven exploration development miner? Guilt announced by years ago association? If recall? The JMJ loan was paid by shareholder involvement in the placements and allowed Elena development to continue til now with SEC announced gold sale income in the future absolving "Complete Dependence" need for any future such loans and no obvious dumping for the last 2 propounded here often.
"You have completely missed the meaning of the SEC's action.
The business practices of all the toxic death spiral convertible holders is the same, including the ones that are funding MXSG. So if the SEC considers two of them to be doing business illegally, then the ones that funded Mexus are, too.
The SEC is seeking full disgorgement of profits and penalties. If you are holding toxic Mexus paper, you may not want to convert and dump right now as the SEC will eventually go after any profits you make. So, until you figure out a way around that, you hold on to the paper and don't convert and sell. That would explain the reason for the lack of dumping at the moment.
And this also has bigger implications for Mexus. Mexus is completely dependent upon toxic death spiral financing to stay afloat. With the SEC action, that source of funds may no longer be available, which means Mexus may be dead sooner than expected."
"Homebrew Member Level Tuesday, 03/24/20 06:07:54 PM
Re: 1manband post# 36505 0.000
Post #
36508
of 36552
Don Phillips implicated yet? Co-conspirators in MXSG scheme need to be brought to justice."
Not even close.to SEC test mine GAAP. Try new own fantasy rules again
gitreal Member Level Tuesday, 03/24/20 04:06:26 PM
Re: None 0
Post #
36504
of 36508 Go
"That does not address the issue of how PT calculates his fantasy cost per ounce. Try again."
EXACTLY as you say he mustn't. Profit above all cost per time period. PRECISELY as explained for years allowed by a test miner to recoup development and exploration you falsely simply ignore, make up own rules all need not follow. Is NOT all in cost over a longer term test miners are not even allowed to claim against no resource. Will appear as profit or loss per share PPS is usually based on by some X factor.
GRC 1st 10K in production El Aguila one year planned open pit operation prior underground La Arista tunnel.
Operating Activities
We declared commercial production at the El Aguila Project July 1, 2010. Since declaring commercial production we have produced 10,493 ounces of gold at an approximate average cash operating cost of $217 per ounce. OUR CASH OPERATING COST IS A NON-GAAP MEASURE calculated in accordance with the Gold Institute’s standards. See, “Non GAAP Measures in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation” for more information. Power is provided by diesel generators at the site.
10K on 1st full year commercial production
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2011
Item 7 Management discussion
Commercial Production
During 2011, we produced a total of 66,159 ounces of gold equivalent from the El Aguila Project at an approximate AVERAGE CASH OPERATING COST OF $136 PER OUNCE, net of by-product credits. (See, “Non GAAP Measures” in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation for more information.) We processed an aggregate of 214,215 tonnes of ore with an average grade of 3.43 grams per tonne gold and 357 grams per tonne silver. See the table titled “Production and Sales Statistics—El Aguila Project” in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation for detailed information regarding our production statistics. An anomalous storm in April 2011 flooded the lowest levels of the La Arista underground mine which negatively impacted our mining operations for approximately two months.
No Proven or Probable Reserves
We have not yet demonstrated the existence of proven or probable reserves at our El Aguila Project in Oaxaca, Mexico or any of our other properties. In Guide 7, the SEC defines a “reserve” as that part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination. Proven or probable reserves are those reserves for which (a) quantity is computed and (b) the sites for inspection, sampling, and measurement are spaced so closely that the geologic character is defined and size, shape and depth of mineral content can be established (proven) or the sites are farther apart or are otherwise less adequately spaced but high enough to assume continuity between observation points (probable). Reserves cannot be considered proven and probable unless and until they are supported by a feasibility study, indicating that the reserves have had the requisite geologic, technical and economic work performed and are economically and legally extractable.
We have not completed a feasibility study with regard to all or a portion of any of our properties to date. Any mineralized material discovered or produced by us should not be considered proven or probable reserves. As of December 31, 2011, none of our mineralized material met the definition of proven or probable reserves.
For the year ended December 31, 2011, we recorded revenues of $105.2 million, mine gross profit of $87.2 million, net income before extraordinary item of $60.1 million and net income of $58.4 million. We produced a total of 66,159 ounces gold equivalent for the twelve months ended December 31, 2011 AT A CASH COST OF $136 PER GOLD EQUIVAVENT
OUNCE. Precious metal gold equivalent is determined by taking the silver payable metal ounces produced and converting them to the dollar equivalent of gold by using the gold to silver average price ratio. The gold and silver average prices used are the actual metal prices realized from the sales of our metals concentrate. (Please see the section titled “Non-GAAP Measure” below for additional information concerning the cash cost per ounce measure.)
Exploration Stage Company
We are considered an exploration stage company under the SEC criteria since we have not demonstrated the existence of proven or probable reserves at our El Aguila Project in Oaxaca, Mexico or any of our other properties. Accordingly, as required by the SEC guidelines (see Note 1 to the Consolidated Financial Statements) and U.S. GAAP for companies in the exploratory stage, substantially all of our investment in mining properties to date, including construction of the mill and mines, have been expensed and therefore do not appear as assets on our balance sheet. We therefore also expensed construction and development expenditures in 2011 related to the La Arista underground mine. Certain expenditures, such as expenses for rolling stock or other general purpose equipment, may be capitalized, subject to our evaluation of the possible impairment of the asset.
Our characterization as an exploration stage company regarding the treatment of construction and development expenditures as an operating expense rather than as a capital expenditure, has caused us to report larger losses in 2009 and 2010 and lower net income in 2011 than if we had capitalized the expenditures. Additionally, we will not have a corresponding depreciation or amortization expense for these costs going forward since they are expensed as incurred rather than capitalized. Although the majority of the capital expenditures for the El Aguila Project were completed between 2007 and 2010, we expect underground mine construction to continue in future years. In comparison to other mining companies that capitalize development expenditures because they have exited the exploration stage, we may report larger losses or lesser profits as a result of this ongoing construction, which will be expensed instead of capitalized for accounting purposes.
We expect to remain as an exploration stage company for the foreseeable future, even though we have reached commercial production. We will not exit the exploration stage until such time, if ever, that we demonstrate the existence of proven or probable reserves that meet the SEC guidelines. Likewise, unless mineralized material is classified as proven or probable reserves, substantially all expenditures for mine and mill construction have been or will be expensed as incurred.
Significant Accounting Policies
Exploration Stage Company: Despite the fact that the Company commenced production in July 2010, it is still considered an exploration stage company under the criteria set forth by the Securities and Exchange Commission (“SEC”) since it has not yet demonstrated the existence of proven or probable reserves, as defined by the SEC, at its El Aguila Project in Oaxaca, Mexico or any of its properties. As a result, and in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for exploration stage companies, all expenditures for exploration and evaluation of the Company’s properties are expensed as incurred and unless mineralized material is classified as proven or probable reserves, substantially all expenditures for mine and mill construction have been and will continue to be expensed as incurred. Certain expenditures, such as for rolling stock or other general-purpose equipment, may be capitalized, subject to evaluation of the possible impairment of the asset. The Company expects to remain as an exploration stage company for the foreseeable future, even though it has reached commercial production. The Company will not exit the exploration stage unless and until it demonstrates the existence of proven or probable reserves that meet the SEC guidelines."
So one more oddball user meaningless post
1manband Tuesday, 03/24/20 10:44:14 PM
Re: saildone post# 36513 0
Post #
36514
of 36514 Go
Nope. Sorry, but all the toxic death spiral lenders operate in the same way. That includes JNJ, Power Up, and JSJ.
Read the complaint - the details in there prove it.
https://www.sec.gov/litigation/complaints/2020/comp24779.pdf
They are acting as unregistered brokers. And all of them are likely waiting for the SEC to show up at their door
Read complaint ( did you) and understood? It penalizes the toxic lenders poor fellers. No mention of the issuing corporation. And I aint neither! Mexus used any such funds wisely and paid the price to achieve commercial production announced to SEC on 8 March. Proves there are REALLY a few ways to get that done as I have mentioned. NOTE: Last sentence AND FOR THE PROTECTION OF THE INVESTORS. WE'NS!
"Penny Stock Bar Permanently restraining and enjoining Keener from participating in the offering of any penny stock, including engaging in activities with a broker, dealer, or issuer for purposes of Case 1:20-cv-21254-XXXX Document 1 Entered on FLSD Docket 03/24/2020 Page 11 of 13 12 issuing, trading, or inducing or attempting to induce the purchase or sale of any penny stock, under Exchange Act Section 21(d)(6). [15 U.S.C. § 78u(d)(6)] IV. Civil Penalties Ordering Keener to pay an appropriate civil penalty under Exchange Act Section 21(d)(3). [15 U.S.C. § 78u(d)(3)] V. Disgorgement Ordering Keener to disgorge, with prejudgment interest, all ill-gotten gains derived from the activities set forth in this Complaint. Case 1:20-cv-21254-XXXX Document 1 Entered on FLSD Docket 03/24/2020 Page 12 of 13 13 VI. Further Relief Granting such other and further relief as this Court may deem just, equitable, or necessary in connection with the enforcement of the Federal securities laws and for the protection of investors. DATED: March 24, 2020 Respectfully submitted, By: /s/ Joshua E. Braunstein (Special Bar No. A5502640) Antony Richard Petrilla (Special Bar No. A5502641) Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION 100 F Street NE Washington, DC 20549 Telephone: (202) 551-8470 Braunsteinj@sec.gov Lead Attorney Attorney To Be Noticed ATTORNEYS FOR PLAINTIFF
For once I agree.
"this is a meaningless statement
How do you think PT came up with those cost per ounce numbers? Does he count anything but the costs incurred each day relative to ounces produced? What about the cost to build the leach pads, the cost to drill last year, the cost of the toxic loans, the cost of the MC and electrowinning plants, and on and on and on......
And what if the gold production (if it is even happening) is not sustainable? Cost per ounce is pretty meaningless if they only ever produce a few hundred ounces. The cost to reclaim an abandoned, failed mine could be more than what they will ever mine."
For years it's been pointed out here precisely those sunk costs of exploration and development SEC finally allows test mining, means no proven resources, to begin reporting revenue from gold sales when continuing production has been recognized as approved to SEC standards. Best example I am well aware is sometime praised here but as often defamed, as a 5 year pre IPO investor in Gold Resource Mining who performed NONE of what you seem to say SEC demands. They are only used to borrow financing at a favorable rate. Mexus has as well by passed them with other means allowed at perhaps higher cost yet still not multi millions and years before even moving dirt. Comes to same cost but while moving dirt building the mine first.
There are usually no enormous costs in reclaiming heap based mines as it uses the same equipment used in construction with much less labor and simply fallow TIME.
"Reclamation
We may be required to mitigate long-term environmental impacts by stabilizing, contouring, re-sloping and re-vegetating various portions of a site after mining and mineral processing operations are completed. These reclamation efforts will be conducted in accordance with detailed plans, which must be reviewed and approved by the appropriate regulatory agencies.
While the Company, as of March 31, 2017, does not have a legal obligation associated with the disposal of certain chemicals used in its leaching process, the Company estimates it will incur costs up to $50,000 to neutralize those chemicals at the close of the leaching pond.
Government Regulation
Mining operations and exploration activities in Mexico are subject to the Ministry of Mining federal laws and regulations which govern prospecting, development, mining, production, exports, taxes, labor standards, occupational health, waste disposal, protection of the environment, mine safety, hazardous substances and other matters. We have obtained or have pending applications for those licenses, permits or other authorizations currently required to conduct our exploration and other programs. We believe that Mexus Gold US is in compliance in all material respects with applicable mining, health, safety and environmental statutes and the regulations passed thereunder any jurisdiction in which we will operate. We are not aware of any current orders or directions relating to Mexus Gold US with respect to the foregoing laws and regulations.
Environmental Regulation
Our gold projects are subject to various Mexican federal laws and regulations governing protection of the environment. These laws are continually changing and, in general, are becoming more restrictive. It is our policy to conduct business in a way that safeguards public health and the environment. We believe that the actions and operations of Mexus Gold US will be conducted in material compliance with applicable laws and regulations. Changes to current Mexican federal laws and regulations where we operate currently, or in jurisdictions where we may operate in the future, could require additional capital expenditures and increased operating and/or reclamation costs. Although we are unable to predict what additional legislation, if any, might be proposed or enacted, additional regulatory requirements could impact the economics of our projects."
Those apparent pesky but perfectly legal private placements available to all who qualify and may be shared with any wishing to subscribe with no affinity mentioned or required by terms of offer. To suggest otherwise is a patent, deliberate falsehood.
"The Company is dependent upon outside financing to continue operations. It is management’s plans to raise necessary funds through a private placement of its common stock to satisfy the capital requirements of the Company’s business plan. There is no assurance that the Company will be able to raise the necessary funds, or that if it is successful in raising the necessary funds, that the Company will successfully execute its business plan".
As a private investor I make NO official statements and for certain cannot issue any Globe Wire PR some apparently do not know enough to locate at 3 AM. It WAS posted on the website at market open when I checked some 6 and a half hours later. Usually until it's issued for ALL to see there is NOTHING to post.
Monday, 03/23/20 09:06:10 AM
"Re: 8thaero post# 36467 0
Post #
36469
of 36500
I don't see anything posted on Mexus website announcing this.
Where is this being disclosed and why is it not being done so publicly on it's website?
The post alludes there is another another board where this information is being discussed and has already been posted. Please share the name of this other message board so that others in the public who want to join can do so."
One mans HUGE DEBT is another's gold sales
It doesn't say that at all. What it says is how they determined the cash cost per oz below disbelieved Nov 2019 predicted and should mean it was sold to determine the nominal cost per oz delivered to refinery. $1,490 current minus $376= $1,114. We'll take that and see where she lands.
Re: Positive Cash Flow
Post by 8thaero » Mon Mar 23, 2020 2:37 am
Addl $61 Cost reduction then is due to reuse of re-activated carbon after PM removed and shipped. Total all in cost will not be seen until a time yet but now build out expenses can be reduced with revenue from commercial product sales. We're there for SEC purposes as the big hurdle overcome and sure about time! Our good friends wishing well at the MXSG bd can shout hurrah, or not, with no need to even believe as WHO CARES! Stick a fork in her fellers n' gals. Positive chow down time. 8
Really, Saildone, no need halt any wish to keep repeating silly nonsense declaring all Mexus PR's pumping puffery and lies to shareholders. Instead we simply keep believing it's finally working exactly as CEO clearly declares increasingly to our better and hold fast to those facts and not unproven opinions for the last 4 years. Legal legs get thin and spindly each progressive Mexus SEC approved corp shareholder information openly provided. Last I've read? Seems pretty damn good stuff. Whom to believe. I'd doubtless discount the user claims to have bought near Nov 1 2012 @ 36 cents and not done a thing since but complain on total inactivity. Not exactly a great plan to play the gold patch pennies. Each their own prevails. 8
582,540 sales today. Seems that JSJ has only 47 million left to convert. Are we now down to alternate dump weeks? Enough straws that poor camel breaks down.
"Yesterday did not look like a dump day and even Monday was not an unusual volume. We will see what tomorrow looks like but for now the idea of a day off between "dump days" seems like grasping at straws."
Good action. Hard to keep up. Tonic not toxic!
Million taken @ 0036 near close
Bit of Mon-Wed catch up
Go4Gold - Login
by 8thaero » Wed Mar 18, 2020 1:22 pm
Official Forum
IAW PR, But as up to .5-6oz visible Julio vein will leach very slowly no great spikes in assay as most will be the microscopic areas surrounding the quartz veins. 3.1 will return over some time in load just more constant added to the .33 now being processed. Is all great not good news for 2nd qtr numbers will most prob not see until the July 14 10K. Any fine PR even 8K be ignored again as pump by the hub mob squad we can ignore selves now. So where's the millions .017 dumpers with .0035 bid rising? If never taken on can't be sold in profit. 200K-300K off/on sales can't hack that 48 mill if taken as predicted. Something is odd there. 8
Re: March 16
EditReportQuote
Post by 8thaero » Tue Mar 17, 2020 12:07 pm
I posted 10Q printed Power Up facts. They're BSn JSJ opinions based on no 15th Note conversion comment at all means bad news so wont say in the expanded mine PR. According to the crew then we're being hit with 48 million shares at .0017 sell off. We can easy see the 2 low days were .0027 and .0029 for .0028 avg 35% off = .0017. Looking anything like that to any ya's? SOMETHING made it not happen for the last 2 days. PT swung a deal somehow? The big dump Mon was 943400 @.0025 11:42.07. close was .0026/.003 hardly a big drop 4.67 mil sold. 2.174 buy and same .003 as open floating down then back up. A much better day than NEAR all mkts. to be cont...
"You really want my thoughts? I am not a fan of Mexus"
GOLLEEEE ya sure fooled us!
Read any good 10 Qs lately?
"Nothing that PT says can be trusted. Especially on the day that a very large toxic note begins converting......"
"Obviously, if there was any positive news to report on the status of the toxic death spiral convertibles, he would have announced it in the news release. Which means there is going to be an avalanche of newly converted shares being dumped into the market which will continue to drive down the stock"
"That's all I need to say about today's PR. You know about all the toxic notes that will be converting this month, and more in May?"
OOPS!!!
Pardon if crew seem pretty dense but doesn't the 10Q say the Mar 15 matured Power Up note was fully settled for issuing 26,869,860 shares Nov 14 to Dec 9? Fully settled SHOULD mean is no more debt after Dec 9 on Mar 15 scheduled maturity as I read it. Perhaps THAT's the missing picture. Says check was in Dec 9 mail. Avg 2 15 day lows be 65% of some .005-.006 or .0036. Hard to see that much now. BUT NOT THAT difficult for a old hand 10Q reader. 5 mo chart shows a low for period .0037 sticks out and large days.
Is CEO laughing all way to his Minden BoA bank?
"On May 9, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $83,000 less transaction costs of $3,000 bearing a 12% annual interest rate and maturing March 15, 2020 for $80,000 in cash. After 170 days after the issue date, this Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the average of the lowest two trading prices during the fifteen trading day period ending on the latest complete trading day prior to the conversion date. The Company determined that upon issuance of the Note, the initial fair value of the embedded conversion feature was $77,741 which was recorded as a debt discount. The Company may repay the Note if repaid within 30 days of date of issue at 110% of the original principal amount plus interest, between 31 days and 60 days at 115% of the original principal amount plus interest, between 61 days and 90 days at 120% of the original principal amount plus interest, between 91 days and 120 days at 125% of the original principal amount plus interest, between 121 days and 150 days at 130% of the original principal amount plus interest, and between 151 days and 170 days at 135% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. From November 14, 2019 to December 9, 2019, the Company issued 26,869,860 shares of common shares of the Company with the fair value $151,531 to Power Up Lending Group Ltd. to fully settle the Note resulting in a loss on settlement of $16,177. Interest and amortization of debt discount was $133,096 for the nine months ended December 31, 2019"
Next Power Up to come down is in 90 days near end 2nd qtr 2020. Might check again end May and then the next few weeks for another 'Check's in the mail'.. That's a Mexus TONIC not toxic.
"On July 29, 2019, the Company issued a Convertible Promissory Note (“Note”) to Power Up Lending Group Ltd. (“Holder”) in the original principal amount of $85,000 less transaction costs of $2,500 bearing a 12% annual interest rate and maturing June 15, 2020 for $82,500 in cash."
Do your own research. Read own SEC 10s and don't buy into the fake news from from others
"We could see gold break $2,000 per oz by the end of this month!
That's awesome! Too bad it has little bearing on Mexus."
Now we know why GM went out of biz in 2009. Built one Chev sedan for $2 bill and simply quit. Is in some museum sommeres. RIP, GM. Detroit, MI misses you and Ford and Chrysler. My MA said make a better product at a lesser unit cost. See any need change the curriculum of late? Profit and grow!
POG CRASH!
For any fresh off the turnip truck lesson is in the frequent occurred long past. When the need for cash in hand market sales to cover calls halts as always next mkt rise occurs and POG zoom is 100% of the rise direct to producers. Every ounce dollar rise above cost is addnl 100% profit. Not a bad time to be increasing production past start up ops. Seem due a tad of good luck. Meantime trillions or so of mkt stimulation lessens depression risk AROUND WORLD due exact same disease response. Gold Patch good times here again. Some lessons from the Great Recession by much loved past Fed Chief Janet Y. 8
https://www.federalreserve.gov/newsevents/speech/yellen20170825a.htm
#1. Do gooders near did us in.
SEC MAKES THE RULES message board posters not-withstanding. Accepted no comment by SEC? No more may be demanded by the experts here. We'll await the querry and retraction as to who's right..
by 8thaero » Tue Mar 10, 2020 10:35 am
https://redirect.viglink.com/?format=go&jsonp=vglnk_158385744864210&key=e4fd14f5d7f2bb6d80b8f8da1354718c&libId=k7m3b4il01034pnz000DA6dywm8rf&subId=351145a3afe7ff6865dbe771f40471f9&loc=https%3A%2F%2Fgo4gold.org%2Fviewtopic.php%3Ff%3D2%26t%3D2146&v=1&out=https%3A%2F%2Fwww.marketwatch.com%2Finvesting%2FStock%2FMXSG%2FSecFilings%3Fsubview%3Dsecarticle%26sid%3D4072085%26guid%3D13993154%26type%3D8&ref=https%3A%2F%2Fgo4gold.org%2Fviewforum.php%3Ff%3D2&title=8K%20filed%20by%20Mexus%20Gold%20-%20Go4Gold&txt=https%3A%2F%2Fwww.marketwatch.com%2Finvesting%2FS%20...%20154%26amp%3Btype%3D8
Select latest 8K Mar 10. Sole reason the link works is filed with SEC. That's confusing? Says what it says which officially confirms the PR. INITIAL test mining gold sale following actual commercial product SEC may accept and will appear in next 10 filed as I've been insisting for some time now based on taught by GRC experience. Went through exact same test mining experience for several years until real production drills established resource no expensive pre studies needed.
Section 18 limits the liability for making a false statement. May be due factors beyond individual's ability to control when making the statement meant to fully inform investors as SEC demands first consideration. Expanded rule in June 2019. Some will not admit the change as we know.
Section 18 of the ’34 imposes liability on any person “who shall make or cause to be made any false and misleading statement of material fact in any application, report, or document filed under the act”. Section 18 is based upon a theory of fraud. Unlike under rule 10(b)(5), however, Section 18 applies only to the documents required to be filed under the ’34 Act. This includes annual, quarterly, and special reports. A plaintiff must prove that:
• the defendant knowingly made a false statement,
"And they were certainly not debt-free by January 1, 2020. One note converted in January, another big one in less than a week, and third will convert in two weeks. With many more to follow."
Still bothered by dyslexia? " 1" is CERTAINLY not a "0". Read much? Allows us a bit of cryptic deciphering last 4 years of blather..
"Mexus plans to be debt free by January 1st, 2021 "
None make the rules but SEC.
Re: 5 notes to redeeem suspenses simplified
Post by 8thaero » Mon Mar 09, 2020 5:26 pm
Debt free 1 Jan. Bit hard to define but does mean NO MORE CONVERTIBLE NOTES after June 11 and profit of least $1 above explore, develop into production expenses during 2020 accepted by SEC IAW U,S.GAAP for test mining no bankable resources under Industry 7 Guide lines. Gold sales now recorded as revenue from test mining if/when SEC agrees to continuous production stage with proven sales. May now begin in 1st qtr fiscal 2020 not before. Message boards demands do not control the SEC Industry 7 Guide you will usually find.
I've been asking all week now for an answer l've difficulty wrapping my silly accumulator's brain around with no results; seems to ignore obvious factual errors we've been constantly harangued with since Argonaut departed in pure POG panic Dec 3, 2015. Tell us it t'weren't so Tom Burkhart,VP Explore
"gitreal
Tuesday, 03/03/20 11:25:25 PM
Re: OJSIMPSON2017 post# 36015
0
Post # of 36151
Mexus drill results just as bad as Argo's, maybe worse."
Obvious BIG QUESTION ignored thus far with ever constant sidewise babble. Where did the identical Argonaut discovery of a 1.2 g/t vein appear out of seeming thinly drilled air that has been providing 100 tons an hour loading the pad as basic ore since Nov 4, roughly a full 1/4 year? Some of same soft non fact based nonsense posting big user fake news nose ring leading astray foolishness as always?
"Merrill Crowe gold recovery plant operational; Lucky Strike pit being mined
CABORCA, Mexico, November 4th, 2019 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced its new 500GPM Merrill Crowe gold recovery plant is complete and operational. The plant is capable of handling Mexus’ 3000 ton a week mining operation and will allow for future expansion as well.
Mining has begun on the newly named Lucky Strike pit at the company’s Santa Elena mine in Caborca, MX. The company decided to name this new area the Lucky Strike as it continues to reveal excellent values and is growing in size. Mexus Gold Mining SA De Cv geologist, Cesar Lemas, is pleased with the results and expansion of the discovery. Mexus has performed two 100meter core drills and have added that information to results of an additional hole drilled by Argonaut Gold. All three holes have shown excellent values to depth with average assays of 1.2 g/t Au. The Lucky Strike area is easily mined with the use of a CAT D8 and is located only .5 Km from the company’s crushing circuit. Mexus is now capable of running the crushing circuit and placing crushed material onto the heap leach pad at a rate of 100 tons per hour. Leaching is set to be restarted the week of November 4th with recoverable gold returning within 12 days. The Lucky Strike is easier to mine without the need for blasting which is required on the Julio vein. Mexus will expand and mine the Julio vein as revenues grow."
"Years ago, a person took $3 million dollars out of 1 hole in the Julio Vein, when the price of gold was much lower, like $200-300.
Myth. Sad to see that some were fooled by that tall tale."
Have we caught out our own Adam Schiff, constant inveterate bender of truth congenital liar? Now claims faked the other famed late '90s era Caborca fact, Ken Azuka's solo hand dug 50 foot Julio vein $3 million hard won funds to construct San Felix plant other wise impossible for a stone broke Arican born chemist? Now please attack the other Caborca legend detected near by finally sold for just half Ken's total haul.
"This gold nugget has been on display on several occasions, including at the Tucson Mineral Show and the American Museum of Natural History. Thousands of gold and mineral enthusiasts have had the pleasure of viewing this wonderful piece since its discovery over 2 decades ago. In January 2008, the Boot of Cortez was sold at auction for $1,553,500.
The Boot of Cortez Gold Nugget. Largest gold nugget
https://www.bing.com/search?q=boot+of+cortez+nugget&form=EDNTHT&mkt=en-us&httpsmsn=1&msnews=1&rec_search=1&plvar=0&refig=c5b26db2cd4f420692133781db70a8c0&PC=LCTS&sp=2&qs=SC&pq=boot+of+cortezd&sk=PRES1SC1&sc=6-15&cvid=c5b26db2cd4f420692133781db70a8c0&cc=US&setlang=en-US
The Boot of Cortez Gold Nugget. Largest gold nugget
The Boot of Cortez is a huge gold nugget that was discovered in Senora, Mexico. It is the largest nugget still...
Now we can examine Explore VP Tom Burkart's faupax. He was always quite open with investors in both miners and the one constant was "No drills into known veins". Entire 2.5 KM area had to prove up by itself using just 16 not too deep wide spread holes. Mistake was drilling into an unseen old shattered vein we know as "Lucky Strike" shown as overall 1.2 Grams! Mexus since sunk companion holes to reconfirm and load it easily on the pad along with blasted higher grade main Julio vein. So, how did 1.2 grams stack up agains Argonaut's material site grades?
1.2 grams =
0.04232875oz $68 ton
Argonaut's best grade less than half 1.2 Mexus now loading daily.
Project
Category
Tonnes (millions)
Au Grade (g/t)
Contained Au Ounces (000s)
Ag Grade (g/t)
Contained Ag Ounces (000s)
Cu %
Cu tonnes (000s)
El Castillo
Proven
2.9
0.58 (g/t
54
El Castillo
Probable
25.3
0.39 g/t
314
San Agustin
Probable
57.9
0.33 g/t
614
10.2
20,202
El Castillo Complex
Proven & Probable
86.1
0.35 g/t
982
Think was truly the new CEO panic over coming $700POG not good reason?
5 notes to redeem suspenses simplified few hours ago.
Post
by 8thaero » Tue Mar 03, 2020 1:32 pm
#1. 11 days to 14 Mar @ $142 + 6%
#2 . 18 days to 21Mar $ 82.5 + 12%
comes to $224.5 + interest. Note: If do not convert? NON TOXIC as just 6% and 12% after cost applied for total due by maturity.
#1 be a squeeker but addnl week to clear #2 at min 5 oz daily since 24 Feb is possible and the final 3 have 90+ days to June 11 for about $200K needed to clear all. if operating expenses do not eat the kitty. Could be operating in profit 3rd qtr on with no el cheapo dilution ever again.
That's the program pure and simple. Meet it and grow, finally. So tell me if I'm wrong and not being too positive, and why. Makes it work? PRODUCTION at least a constant level. Gold is ALWAYS money I was taught by some actual experts! I've met few to none here in 4 years. Never a fact in sight, ever an edict.
Think will tidy up the cuff acts this March and march on. Not too far distant to possible $2PPS 100K annual next 20 or so. Bit late but about as predicted calls em as I sees um in '11-12. Got's a good day job, fellers?
https://www.globenewswire.com/news-release/2020/03/02/1993157/0/en/Mexus-first-significant-production-of-gold-at-its-Santa-Elena-mine-announced.html
Nothing esoteric in electrowon gold. Reverse electroplated from solution on something can be destroyed, burned away steel wool or cleaned often by pressurized very hot water leaving pure gold for sale. As to sale from test mining this needs to be plainly understood how it may be in shown in financials IAW US and Intl rules.
"3.5 Pre-production sales There may be a long commissioning period for a mine, sometimes over twelve months, during which production is gradually increased towards design capacity. An entity may have revenue from saleable material produced during this phase. Where the test production is considered necessary to the completion of the asset, the proceeds from sales are usually offset against the asset cost instead of being recognized as revenue. Judgement is required to determine whether all revenues earned during the commissioning period should be deducted from the cost of developing the mine. IAS 16 defines the costs which qualify for recognition as PP&E as being those which “are directly attributable to bringing the asset to the...condition necessary for it to be capable of operating in the manner intended by management. Judgement is required as to whether this means only commencement of production or achieving a specified level of production."
International Accounting Standard 16 says you can only use Test Mining sale prior to commercial production to reduce depreciating schedule,
Property, Plant and Equipment assets showing it as a part of total (+$$$) gain not revenue from the sale. Without Guide 7 resource proven, ore in the ground is not a depreciating asset since unproven for use. Becomes a total judgmental call in the corp financials. CEO chooses to await commercial production in 1st qtr Jan-Mar 2020. Can't inform hub experts yelling daily to know otherwise from both SEC and IAS rules.
"What's the company's preference? Continue to claim gold sales, but face legal risks for not properly disclosing where the funds for those sales went, or admit there have not been any gold sales made yet?
Class dismissed."
Call class back quick. Cryptic answer to how to declare revenue which can't be claimed from pre production PM sales is a newly invented entry saying revenue which can't be claimed from PM sale was revenue which can't be claimed used to reduce cost of PP&E. OH yeah, SEC'll buy that un fer sure! Just admit have no idea what you speak so make it up no fact seen at all.
3.5 Pre-production sales There may be a long commissioning period for a mine, sometimes over twelve months, during which production is gradually increased towards design capacity. An entity may have revenue from saleable material produced during this phase. Where the test production is considered necessary to the completion of the asset. THE PROCEEDS FROM SALES ARE USUALLY OFFSET AGAINST THE ASSET COST INSTEAD OF BEING RECOGNIZED AS REVENUE. Judgement is required to determine whether all revenues earned during the commissioning period should be deducted from the cost of developing the mine. IAS 16 defines the costs which qualify for recognition as PP&E as being those which “are directly attributable to bringing the asset to the...condition necessary for it to be capable of operating in the manner intended by management.” Judgement is required as to whether this means only commencement of production or achieving a specified level of production.
https://www.pwc.com/id/en/publications/assets/eumpublications/financial-reporting-in-the-mining-industry.pdf
And one more time here's the Rule changes we are told never happened last year. Musta been a long dream process here to just ignore like old Dallas soap opera Who shot JR. Things like filing time not to be SEC persued for the bother to very SMALL ENTITY corp offices. About like having to scroll past yards of total nonsense to see a posted message each time log on.
FAST Act Modernization and Simplification of Regulation S-K
A Small Entity Compliance Guide
One fine question to answer might solve a thousand odd inproper questions.
Why are any asking for PM sales as revenue prior to commercial production announced?
IT IS SIMPLY NOT ALLOWED UNDER FIRM ESTABLISHED SEC RULES
Might look at Gold Resource Corp Mar 31 2010 10Q with which all should be familiar in similar circumstances a decade past also no proven resources test mining development to production status declared. Eventual resources declared by production drills to Industry std during extended test mining.
Bottom page 13
"Prior to realizing commercial production ( mill throughput and recovery 80% of design) any sales of concentrate ( note: agitated leach were not in commission yet for some 8 + years) are applied against cost and are not considered revenue."
https://www.sec.gov/Archives/edgar/data/1160791/000107997310001189/grc_10q.htm
Oh, yeah...
"I'd post some lyrics back to you, but can't make anything rhyme with "convertible". Or "toxic"
Not trying very hard. Invertible coccyx decodes as turn tail and run. Try it, you'll like it.
Great help to understand what you preach. Many'd not know a heap leach pad if were standing on it under cyanide soak; least for about 30 seconds anyway. Heavy fencing thus required.
That's entertainment!
Mon Feb 17, 2020 11:01 pm
Los Caborca Paletos
Now we enjoy The Caborca Hillbillies episodes daily. Where the fresh spun fable runs aground? Whoda thunk 10 years back Jethro to waste so many 7 gram 92% nuggets along bottom of a fresh dug 5' deep trench I could not miss swinging ancient back vest powered detector on only PM hit after Julio drove up to Ranch House to bring down when I asked what was never allowed. No matter, they washed over our knuckles on placer clean out to take another for wife when we asked the brothers in assisting the wash. Damn decent pay scale for simply unoffical share holder 2nd visit but they still liked me. AND Mexus . .
Los Caborca paletos theme song
Old PT was a huntin out where he was told and up from the vein came a bubblin GOLD... ( echo... gold...) Mexican tea!
OOPS!
2 new SEC disclosure rules are said to not exist. SOMEBODY'S wrong expounding falsely again and again. NO 8K if can be covered in next 10Q. Once again there is this major change meant to assist PRE-PRODUCTION financing efforts
On March 20, 2019, the Securities and Exchange Commission voted to adopt amendments to modernize and simplify certain disclosure requirements in Regulation S-K, and related rules and forms, in a manner that reduces the costs and burdens on registrants while continuing to provide all material information to investors.
hours per response9.21 FORM 8-K - sec.gov
https://www.sec.gov/about/forms/form8-k.pdf
Form 8-K may be used by a registrant to satisfy its ?ling obligations pursuant to Rule 425 under the Securities Act, regarding written communications related to business combination transactions, or Rules 14a-12(b) or Rule 14d-2(b) under the Exchange Act,
SEC.gov | Form 8-K
https://www.sec.gov/fast-answers/answersform8khtm.html
Aug 10, 2012 · Form 8-K is the “current report” companies must file with the SEC to announce major events that shareholders should know about. The instructions for Form 8-K describe the types of events that trigger a public company's obligation to file a current report, including any of the following :
Final Rule: Additional Form 8-K Disclosure Requirements ...
https://www.sec.gov/rules/final/33-8400.htm
Table of ContentsI. BackgroundII. Discussion of AmendmentsIII. Paperwork Reduction ActIV. Costs and Benefitsv. Effect on Efficiency, Competition and Capital FormationVI. Final Regulatory Flexibility AnalysisVII. Statutory Basis
I. BackgroundII. Discussion of AmendmentsA. Shortened Form 8-K Filing Deadline and Availability of Form 12b-25B Reorganization of Form 8-K ItemsC. Expansion of Form 8-K Items1. Item 1.01 Entry into a Material Definitive Agreementa. Filing of Exhibitsb. Considerations Regarding Business Combinations2. Item 1.02 Termination of a Material Definitive Agreement3. Item 1.03 Bankruptcy or Receivership4. Item 2.01 Completion of Acquisition or Disposition of Assets5. Item 2.02 Results of Operations an...
See more on sec.gov
[PDF]
New Form 8-K Reference Chart - Fenwick & West
https://www.fenwick.com/FenwickDocuments/Form_8-K_Reference_Chart.pdf
1 Reflects items for which the limited safe harbor from Section 10(b) and Rule 10b-5 liability is available. The safe harbor provides protection from liability only for failure to timely file a report Form 8-K, and it extends only until the due date of the Form 10-Q or 10-K for the period in …
[PDF]
FORM 8-K - SEC
https://www.sec.gov/about/forms/form8-knew.pdf
Form 8-K filing satisfies all the substantive requirements of those rules (other than the Rule 425(c) requirement to include ce rtain specified information in any prospectus filed pursuant to such rule). Such filing is also deemed to be filed pursuant to any ru le for which the box is checked.
[PDF]
Frequently Asked Questions about Form 8-K
https://media2.mofo.com/documents/faq-form-8-k.pdf
Forms 8-K. Foreign issuers that report in the United States use a Form 6-K, which has different requirements. Under what circumstances must a Form 8-K be filed? Form 8-K identifies events that require the filing of a Form 8-K and provides detailed instructions for filing.
Form 8-K - Wikipedia
https://en.wikipedia.org/wiki/Form_8-K
Reading Form 8K Typically an 8-K filing will only have two major parts: the name and description of the event and any exhibits that are relevant. The name and description of the event contains all the information that the company considers relevant to shareholders and the SEC.
8-K (Form 8K) Definition
https://www.investopedia.com/terms/1/8-k.asp
The SEC mandates filing an 8-K for delisting of stock, failure to meet listing standards, unregistered sales of securities, and material modifications to shareholder rights. An 8-K is required when...
SEC.gov | FAST Act Modernization and Simplification of ...
https://www.sec.gov/info/smallbus/secg/fast-act-modernization-and-simplification-of...
IntroductionWho Is Affected by The Revised Rules?What Changes Were Made to The Rules?What Are The Compliance Dates of The Rules?Other ResourcesContacting The Sec Staff
On March 20, 2019, the Securities and Exchange Commission voted to adopt amendments to modernize and simplify certain disclosure requirements in Regulation S-K, and related rules and forms, in a manner that reduces the costs and burdens on registrants while continuing to provide all material information to investors. The amendments are also intended to improve the readability and navigability of disclosure documents and discourage repetition and disclosure of immaterial information.
See more on sec.gov
SEC Guidance Affects Form 8-K Disclosure of Executive and ...
https://www.mondaq.com/unitedstates/Strategy/30981/SEC-Guidance-Affects-Form-8-K...
In practice, the new 8-K rules require the disclosure of (i) any management contract or compensatory plan, contract, or arrangement in which any director or named executive officer (NEO) participates; and (ii) any other management contract or compensatory plan in which any non-NEO executive officer participates, unless immaterial in amount or significance
Mexus continues with positive progress at its Santa Elena mine
3:01 am ET January 27, 2020 (Globe Newswire) Print
Mexus Gold US (OTCQB: MXSG) ("Mexus" or the "Company) announced that additional material from the Julio vein has been crushed and placed on the heap leach pad. Leaching on the pad has been continuous since 1/16 with results of .26gpt to .45gpt of pregnant solution returning to the pond. Additional increased values from this new material should start returning to the pregnant pond by 1/28.
The crew at the Santa Elena mine has added additional recovery equipment and have confirmed that recovery is now at 100% from solution. The Julio and Lucky Strike pit keep expanding with 1.2gpt to 9gpt Au and an overall average of 4 gpt Au.
Question becomes is 100% recovery possible with MC and carbon capture combined, or is something else the meaning 100% from solution than all that can be taken, there aint no more to take till more PM capture is added? Is all good 100% of anything usually means. Is combo zinc and carpon that effective. If so down dips cost per oz.
We kno oz cost means nothing to a gold miner, right?
"Where do I leave name on contact info? Hope to make Sept 24"
I'd check with organizer. Date only a suggestion for next meet to remain informed the user ignored and even laughed about last year while demands it over and over. Proof's there so I'd go try the pudding.
"Entire Caborca area knows"? LOL. That's the proof?
Argo walked away after miserable drill results. The Mexus drilling produced even worse results. Yet, somehow, the "entire Caborca area" knows that Santa Elena is a monster gold deposit on the order of Herradura, etc.? Ken the con-man managed to find and mine out a $3 million dollar pocket of gold that the Baltazar family somehow missed over the course of the last 100 years? That's almost as silly as wandering up a "random" wash and plucking a 7-gram nugget from the sands........
Sadly, it appears that myths are the basis for some investment decisions. What's that old adage about a fool and his money? How's that go? "
Not my problem. How's it one user demands proof what entire Caborca area knows to be true? Just quit 3rd party 3 year demand and go see as FIRST PARTY. Still can suggest Sept 24 my 83rd as party time. Name and contact is all. 8
"No doubt Ken was a scoundrel. Please post any documentation on the $3 million in gold dug from the Julio shaft by Ken. TIA.
Planted nuggets and myths about $3 million gold bonanza dug from the Julio shaft. Hmmmm...some folks will believe anything. The lure of gold clouds one's judgment."
Only one keeps demanding a 3rd party expert last 3 years so call and ask, some owners may agree to be happy to split the cost and report findings
IF the one agrees to quit dodging, change the subject over and
over. Simple eh? Have them check the whole Azuka Federales file for arrest with struggle in Mexus office and imprison on old warrants and new positive proof of gold theft in court. Will take care of Part 1 cited here. Baltazar brothers can attest to part 2 if can catch them running around wanting highly valued Elena claims back as ever. All birds, one stone.
That kind of talk is EXACTLY why a professional, unbiased mining engineer or geologist needs to do an evaluation.
Known to take out $3 million to self build out Trinidad San Felix as seen today above ( with my Elena 7 gram nugget BTW).
The Ken "story" about a gold bonanza hand dug from the Julio shaft is Part II. Part I is planting a few nuggets in a wash for an investor to "find".
Who's lunacy?
Opps! wrong lunar like landscape desert property. Do you possibly mean the much younger sister Noche Buena's much closer and much lesser listed grade in operation cross S fence less than 10KM? OK, try that area's well known history of exploration as of Azuka's late '90's Julio vein 50' tunnel in era of $200 POG. Since cold cash came from no place else? Known to take out $3 million to self build out Trinidad San Felix as seen today above ( with my Elena 7 gram nugget BTW). Pencil it out and each linear inch contained 25 oz ..TWENTY FIVE! @ $200! That's 5,000 oz from 50' near pure ore hand dug as pounds not mechanical tons. Bonanza grade??? Try JULIO!!! with a capital J and that aint hay and that stands for JESUS! Apologies to Professor Harold Hill Gold Medal Class of '05.
As was you who asked? Idear were fer you ta ask CEO expert report visit and some us fund the party for, let's say, my 83rd on 24 Sept... again open to all with a name and contact.... cake and punch for any the crew here show up this time. Old time radio, "T'aint funny, McGee".
Lake Gila Bend? Kinda seasonal but here's some prime property lake front. Just remains a 3 hr distance to border and Caborca; last Phoenix far drivable suburb.
https://allworldreport.com/world-news/tropical-storm-octave-update-the-tragic-history-of-megastorm/
But if a sucker looking to buy a lake front bridge? Get outna the basement and look 150 NW Havasu City and bid on London Bridge across the Colorado. One born every minute someone once said. Crowded down there?
Many visits, last in Jan '18, never took a paid geologist to see a long known Caborca mining property accepted as equal to the nearby producers but had I offered to pay and asked I see no reason for Mexus to not gladly accept that report along with rest of site inspections now over a decade. It's HERE it would not be taken as true eval just as always and ever. Makes it probably best you ask instead and accept any result. "You paid them so they'll just lie" is the usual response. Much as freshy dug placer trench uncovered a 'planted' 7 gram nugget shown here last 9 years . BTW last checked Bucky is not listed now quite some time as Mexus PR. Is a Reno number not Seattle. Guess who might answer? I'd read up.
Investor Relations info@mexusgoldus.com 775-722-6171
Might help with need to see PR to comment?
Mexus releases a status update for its Santa Elena mine and plans for its other properties
CABORCA, Mexico, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced its plan for the coming year and gave an update on its various projects and holdings located throughout Mexico. On January 7th the company began mining on the Julio vein/shear zone via a 300 x 20 meter open pit at its Santa Elena mine. This area had been blasted during the first week of January. Approximately 4500 tons of mineralized material has been mined to date with 3000 tons having been run through the crushing circuit. The resulting ¾” minus material was placed on the heap leach pad with leaching resuming on January 13th. Assays of the head material have shown 4 g/t Au and 9 g/t Ag with some areas testing as high as 16 g/t Au. The Julio material was added to 12,000 tons of Lucky Strike mineralized material which averages 1.2 g/t Au. Solution from the heap leach started returning to the pregnant pond January 15th showing a grade of .35 g/t Au of pregnant solution. The flow and returns have continued to increase with recent readings showing .45 g/t Au per ton of solution. On January 17th the company started processing the pregnant solution at a rate of 1 ton of solution per 2 minutes through the Merrill Crowe and activated carbon gold recovery systems. The use of both systems will ensure maximum recovery. Since January 17th the company has recovered 15 oz. of gold. Recovery will increase as the size of the heap pad grows allowing for additional solution to be run through the system.
?
Mexus President Paul Thompson along with Cesar Lemas have decided to seek a joint venture for its Mabel property. Discussions have already started and could include a drilling program with options to purchase. Any deal will include Mexus retaining a royalty from mining operations. The Mabel project is located 52 kms SW from Nogales, Sonora, Mexico. Mexus Gold US concessions total 2128 located in two clusters. There has been directed geology, geochemistry and geophysics exploration work in the area since 2002 with 611 holes drilled in 6 drilling campaigns. Approximately 1,300,000 tons are estimated in the narrow grid drilling area with an average of 0.7 g/t Au and 23 g/t Ag including 240,000 tons of 1.9 g/t Au equivalent.
Mexus, along with partner Elias Felix, have also made the decision to seek a joint venture for its Ures project. The 10,000 acre concession is located near Hermosillo, Mexico. The Scorpio concession is believed to be a copper porphyry system and will need to be drilled to confirm. High grade silver has been found at the 8 Brothers concession and will also need to be drilled to confirm the preliminary findings. A joint venture agreement for these concessions will include the company retaining a mining royalty.
Mexus President Paul Thompson added “With the Santa Elena operation expanding we feel that the fastest and most profitable way to return shareholder value is to find partners for our other properties. My goal is to have all 3 properties either producing or being drilled to a proven resource.”
Mabel Report
Julio Pit
Julio material being crushed
"Telling investors that gold can be produced by Mexus at $450/oz, for instance, is fraudulent. "
No more an estimated expert onsite opinion fraud than to claim it can't be done with no factual basis except continual opines.. BUT what's new?
Perfect explain why unions never go on strike for portion of increased profit. Making enough since last time assembly line shut down so why anger management to ask for more. Pure illogic strikes once more on MXSG bd.
As always? Follow the exact same SEC approved exploration miner path chosen by a successful miner Gold Resource Corp just in different financing decades after 2000's GO GO to 2010s NO GO. All's claimed now for years can't be done was certainly proved possible and will be again, at all possible. "End of History" not expected to occur midnight Jan 12th. "The Path goes ever on and on." JRR Tolkien.... Fiction and fact.
Say exact who are "they" One voting officer corp will remove self? Invest much? We see now 3 year myopia expands . Tho corp has proposed start of commercial ops oft mentioned it has NOT been accepted by SEC so no revenue from sale of product can be claimed. Use only allowed to reduce cost of exploration to begin production strictly as Test Mining status with no resource proven. Attempt is to use the same situation two ways as there is seen also NO line item ever for CEO contracted monthly $15K salary. All we seen here over and over in our wade down past the sale of shares he uses to exist on as qtr bonus. Sure's shootin be most pleased take his $15K, work as hard and long KEEP the bonus shares greatly up PPS after that SEC allowed sale revenue.
Mexico Hiway 2 from Sonota to Caborca is not a bit like Old US Rt 66 remains past Flagstaff Az some may imagine here. No Indian curios, blankets etc and even some attractive slag jewelry from area mining.
The few dusty stops are for tacos and beer only. NOT ONE decent GAS UP entire distance.
Best known any sales ever at entire Rancho claim works have been short term lease sales for detecting surface nuggets over stock work zone in the lower valley, no dry washes there. Was how family paid the kids education cost Univ of Sonora plus own carefully sq meter zoned self detecting on weekends and school time off. Only other local sale aware of was the $3 million Azuka took out of the 50' man sized adit 70 meter down Julio shaft he leased in the early 90's to establish genuine Trinidad gold mine period with hard cash backing. Became a 3 mil ton 6 heap sucker trap until Oct 2012 50% JV Mexus restacked pad #3 to demonstrate production possible then sold for expected $4 mil cash out of 50% JV with local bunch Atzax. Ops since has near all at Elena build out to current we shall see results.
"Great. That means there should be a line item in with the exploration expenses crediting those gold sales. Can you show me in the financials the line item that reduces the exploration expenses?
Hint: It's not there.
Let's be clear, despite PR claims by PT, Mexus HAS NOT PRODUCED OR SOLD ANY GOLD within the last 2 years according to their 10k, 10q and/or 8k legally filed documents."
So since SEC exploration stage pre production rule will not allow it to be termed revenue from sale of PM product you want a line item saying sale of PM product defrays so much explore expense. Do da term kick rocks ring a bell? Not allowed to do what ya can't do. I assume if an 8K were wanted ya could issue one to say we can't announce gold sales by SEC rules but there's a guy on ihub demands it anyway. That oughta shake them into disallowed activity due pure weight of law. Seems now schifftier things are happening all the time.
Any searching SEC docs for MXSG Elena gold sales are barking up wrong tree. SEC only allows that revenue used to reduce exploration expenses until SEC allows commercial production to be claimed. Then with no resource claim allowed you are only in test mining status to claim PM revenue from sales. Own best info as some few us been here done this.
"Let's be clear, despite PR claims by PT, Mexus HAS NOT PRODUCED OR SOLD ANY GOLD within the last 2 years according to their 10k, 10q and/or 8k legally filed documents."
Not exact wedder to concern Noah, let alone Mexus. Mostly bright sunny next 10er. 2 days over 10% precip (means none). Have we a biased FBI investigation team at work? Even hobby nuggeteers love a good weather period aint too damn hot. Ask me.
https://weather.com/weather/tenday/l/Caborca+Sonora+Mexico?placeId=c9195b6d0072a6a43cfc8614bb2711e19b75c2d80e21f1e1b34daa1c0adbee52
Sorry to inform are incorrect but at the initial Brown Palace meeting of first investors all Reids had were good grab samples from on old hilltop mine adit and just enough drills to produce oxide float material for a single year. Based on such limited exploration we voted to raise funds for a 'gold plated' dual circuit hilltop plant custom designed costing $35 million. Hundreds meters drilled for test mining not 1000s. End of '07 no funding required a strategic partner, Hochschild to continue to raise the $35 mil. Deep drills from ridgeline then developed Arista tunnel for 2nd year on. We remained test mining until enough Arista follow on tunnel drills satisfied SEC filing production requirements. Genuine boot strap mine start up as lesson how can be done. Bill Reid toured rubber chicken circuit for years while Dave began to drill them eventual 1000's meters to assure years of follow on sulfides after the first year oxide pit was finished. 8
Aint that the truth. Haps was only Steel dossier sorta hookers or just blow.
So looking back to since 2016 CEO lies? Do we all still agree a "level 4 Scam red flag" is "spends corp funds on "HOOKERS AND BLOW? " Hard to ferget that mind blower paired post. Prolly still around to repost sommers. Been well advised to keep good notes. "And a goodnight 'smack' to us all", said tiny Tim.
"M/C up and running.
Yeah....and...?? Didn't that toy start up years ago?"
"Meh, not material, not worth an 8-K - business as usual. Not even a goodnight kiss from PT, knowing that he's been handed another gift from private placement buyers who are dead last in line when Mexus declares bankruptcy."
why does he need shareholders to beg for cash for him? Absolutely pathetic
Stock Market 1A. 1st lesson. A corp sells shares and/or borrows to fund operations to continue until income self sufficient and then at any time other project/expansion is felt a need. Who are these people and just what's their game. Go figger. Sure aint the mine biz.
"State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of November 14, 2019, there were 1,451,003,869 shares of our common stock were issued and outstanding."
Some novices here think increasing authorized from 2 to 5 billion to cover what is required for any that may become necessary means 3,548,996,131 added are immediately the issue outstanding? Vol will not be much affected until and when all since last 26 days are in the counting house while maid hangs out the clothes on watch for black birds.
And for info will reduce by same factor if and when any RS is taken now to 2023, ready majority owner approved.