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If you had looked back at the last 3 years you will see Mexus' typical method of operation is to publish forward looking statements that do not materialize.
Why would anyone buy in at.03 and expect different behavior from the company?
If I had to guess, most longs are still being vocally supportive more out of optimism and hope that things turn around. That support is likely not out of actual confidence in the company (except for a few radicalized "true believers"), but more out of hope and (unfortunately) desperation because they have committed considerable time and money into the project.
Now who's in denial?
Are you denying that Mexus was able to report gold sales as revenue? Be careful how you answer. Remember, Mexus has previously recorded gold sales as revenue.
Which is it?
Did Mexus violate the SEC test mining exception rules by reporting gold sales as revenue or were gold sales allowed to be reported as revenue prior to 1/1/21?
Not sure what your overall point was.
GORO was able to prove reserves by getting to profitable and sustainable production and selling gold in 4 years.
In almost 10 years Mexus has not been able prove profitable, sustainable production to sell gold, and has no establish mineral reserve amount.
That's a huge difference in the eyes of a potential JV or potential buyers eyes.
Mexus vs GORO is not an apples to apples comparison. Perhaps in the begining they attempted a similar "no feasibility drilling" strategy, but GORO's reserves eventully proved out.
Mexus' reserves have not. Additionally, what little drilling Mexus has done has come back with mixed results at best (and that's being generous).
That test mining exception seems to be working well. How much gold sales has Mexus credited towards offsetting expenses in the last 10 years? Less than $5,000?
I'm shocked the JV's aren't lining up with those Amazin' Rich results.
Mexus sure proved it to the world that drilling programs are overrated and for wimps.
You forgot some;
What is a mineral exploration drilling program?
How to correctly interpret drilling results.
Why drilling programs are essential to developing a mine.
How likely is it a JV offer is extended when a complete drilling program hasn't been completed.
How often do JV's drill a couple of holes, then opt out of the JV relationship after finding positive results? Otherswise known as "What do JVs do when the drill results stink?
What are the top 5 red flags to look for when identifying a mine at high risk for failure?
Sub Chapters of this section include;
- One man operations
- Toxic lending and loan conversions
- PR Truth or Dare or How to spot when PRs don't align with the financial reports
- Bad JVs. What it means when multiple JV relationships have ended under fradulent terms?
- Production process bingo. When the type of production process being used changes monthly.
YES!!!! There's going to be more high grade material for the company to leach. You thought that pond was "Amazin' Rich" before, well you ain't seen nothing yet. If we through the tub o' zinc in the pond too, just think of the assay values that could be reported.
Of course we still haven't solved how to turn that "Amazin' Rich" solution into sellable gold, but hey maybe the new JV or new owners will figure that out.
Anyone know if were still waiting for the carbon filters or have we changed back to the Merrill Crowe yet?
FYI - Loan conversions can start this week.
What are you talking about?!
Don't look now, but I see revenues listed in those 10Ks referenced.
Maybe the revenue came from Paul selling $1.4 million in souviner coins from the stamp mill. No way it came from gold sales.
I see another straw man has been created. Or perhaps this one is more of a Red Herring since PR language from another mining company has been referenced to confuse the issue.
Those dusty certs some folks bought years ago.... they were included in the 20:1 reverse split. Each dusty cert is now worth 1/20th of a share of Mexus. So if a person originally paid $0.10 per cert, that cert is now worth 1/20 of today's stock price of approx $0.03 (roughly .0015 cent per cert).
Gold sold prior to 1/1/21 by miner with no proven resources could be reported as revenue OR as a credit towards exploraiton costs.
Mexus repeatedly chose to report gold sales as revenue in it's 10-K.
Those are the facts and they remain unchanged.
Remember you need to take 19 of every 20 of those "Dusty Drawer" Certs and tear them up.
Aren't reverse splits fun?
I don't find dishonest company PR's, phony titles and deceptive assay numbers funny. Especially when there's real people that have lost lots of money because of those falsehoods.
But I guess to each thier own. Guess I need to lighten up and go down to my local VFW and listen to how these affinty scams are hilarious.
Anyone here if they are needing to scrounge for money to pay the accountant like they had to for the 10-k?
Mexus has more than one employee? Weird... all the previous filings report only one employee.
Oh... and still no gold.
Keep on keeping on....
PT is the majority share holder. How would the company have any way to kick him off the site?
There's already enough BS happening with this company that creating baseless rumors isn't necessary.
Then why isn't the shaft being mined?
If it's so high grade and visible, a cone crusher and placer mining plant should be all that's needed to recover the gold.
What a second.... you use a quote from my post and tack on the (sic) like a badge carrying member of the grammar police, then lay down this doozy 3 post later? That's the funny stuff we're all hooked on.
Impressive.... Didn't think there would be a market for 6+ million shares.
I can't imagine anyone would sink over $125,000 into this company right now. Either someone is really, really gullable or they know something the rest of us don't.
That is helpful. Thank you.
Still not sure I believe PT's solved the recovery process, but at least your explaination makes it plausable.
If only we had the larger Merrill Crowe.....errrr.... I mean less salty leach pad.... errr.... I mean more carbon filters we could produce more than 3oz of gold per day.
Interesting..... in looking back at the September 2019 PR it mentioned the Merrill Crowe GPM rate. The "old" system had a 30 GPM max capacity but the new one could run up to 500gpm.
That doesn't make sense to me.
If Mexus was using the dual MC and Carbon/Electrowining process previously, that should mean they were operating at or above the 800GMP. Why did that process not require the extra filters then?
If the issue before was a contaminated (salty) leach pad, then once the new pad was up and operational the MC and electrowining recovery process should still be the same. The only change is now it's processing the material from the "clean leach pad.
As for the fluctuating data, my issue isn't PT wanting to give real time data to investors, my issue is, so far, that data has provided no relevancy to how much gold is smelted - and utlimately sold. GPM flow rates, assayed results of X g/t and XX tons of material crushed and leached don't matter until an end product can be smelted and sold for money.
Ah... Thank you for the clarification on gallons per minute. Now if you could tell me why that measurement matters or has any relevance to the amount of gold produced that would also be appreciated.
Sure, in theory the higher the flow rate, the more gold, but if there is only "noticebale" values of gold in the solution, what does it matter if it's 300gpm or 30,000gpm?
Mexus has no problem bragging about how much gold it's pullin out daily. But that gold never seems to make it to the refinery for sale. Either there isn't any gold being pulled out, or someone is stealin from us again. Maybe its time to send the dumb ol gringo down to sniff it out.
Who knows, perhaps he'll find another gold nugget or two laying on the ground while he's there.
Did we skip a couple of pages to the next chapter?
What happened to selling the gold? Did it happen, or is that just another empty promise that we shouldn't rehash becasue it's in the past and we need to look at the future?
100gpm by February 1st? Wow... that's impressive.... I think.
Does that mean 100 grams of gold per minute? That would be over 3 Troy ounces a minute.
Of course that's assuming we actually capture something we can smelt out of the leaching solution.
I see we're also back to promoting the our neighbors have mined gold from the same geological system. You know, my neighbors have a beachfront property and while my property doesn't touch the beach, it does boarder theirs so that obviously means it's just as valuable, right?