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And when I see in the 10-Q that $10,000 in gold sales has been substantiated, I will believe it.
Until then I will remain skeptical.
Nope. Not falling into place. More like falling apart.
In the October 5th PR we were told;
Mexus CEO, Paul Thompson, along with Chief Geologist, Cesar Lemas, determined that the bottom 2 meters of the heap leach pad needs to be removed and run through the ball mill gravity system. Tests have shown that 95% of the gold in the silver chloride material can be recovered using the company’s gravity ball mill circuit. This work has already begun.
The ball mill is having difficulty running some of the material as it turns to mud during the process. The solution is to use a screen wash plant which Mexus already has on site. The recovery of the gold from this material is expected to take 45 days.
Guess what.... much more when real facts are used.
You forgot to account for the $117,389 in gold sales used to offset expenses that we are so frequently reminded of.
Bringing total expenses to $383,448.
That also doesn't count loan and financing expenses of $214,136.
So the all in amount of money needed (i.e. gold sold) to have a zero budget (no profit and no loss) is $597,584.
Capital T rhymes with P and stands for 80% POOF!
Ah yes because flawless grammar and sentence structure is used by all on these boards.
did you hear the one about the Pot and Kettle?
Also seems to be a common theme that when the main question can't be answered, or at least answered without admitting that basement experts actually have a exposed legitimate point, instead of engaging in a factual discussion, it is deflected by dwelling on conspiracy theories and poor grammar.
Anoyone know where one can find how the terms of the toxic notes are impacted by a R/S?
Are the amount of shares possessed by the lenders also reduced by 20%? I would imagine lenders have some kind of provisions in place to protect them from these types of events.
Volume has been low compared to pre split, but a reduced number of shares traded can be expected as the dollar amount of the remaining shares have increased . I'm curious what is going to happen if/when the next loan comes due. How many shares will hit the market then?
Discovery Channel is the appropriate venue. As a spin-off of Gold Rush they could do Sonoran Salty Gold. Then follow it up with a spinoff of Deadliest Catch called Deadliest Pull - a show that details the difficult process of recovering under water artic cable.
So someone doing real due diligence and having a conversation with a qualified geologist and then posting it on a message board should be a conspiracy theory?
Man this conspiracy list keeps getting bigger and bigger.
I wasn’t talking about Mexus or Lemas. I was talking Argonaut and their geologist. Keep up.
I think it’s funny that when a professional outfit or geologist says something that doesn’t fit your narrative, it’s a conspiracy theory.
I did. And I still stand by that theory.
Its funny how Mexus can say something, then when they are called out on it, it becomes a conspiracy theroy. For example, Argo would have exercised the option in a better gold climate.
Yet when it's pointed out Argo has never publicly made that claim, but Mexus gave us that line, then it's a conspiracy becasue we can't prove Mexus lied.
It's Bizzaro World when the company can manufacture whatever story they want without any facts or data to back it up, but when someone points out holes in the story, instead of putting the obligation on the company provide the data to back up the claims they instead mock the person questioning the story as an "expert" the insist its a B.S story. Further they chastise the person for not doing their due dilligence and label them as a consipracy theorist.
It's a great deflection tactic. Keeps the eye off the real issue whcih is this company has repeatedly given false and/or wisful information that it knew would never pan out in the hopes to string out investors just a little longer.
Can't speak for Aqua, but I would listen in.
Of course I'm also still waiting for a report from staff geologist, Cesar Lemas, outlining the plan for the Santa Elena mine. You know the report Cesar was going to prepare to give a clear outline as to the plans for this property. It was going to be be used in a 43-101 report with a proven resource to give us a bankable reserve moving forward.
But hey, I'm sure Paul is going to give us the details about the salt pile he's promised.
So you agree those details matter?
Yet time and time again those details are left vague or completely omitted.
Mexus sold $10,000 in gold Yay!..
But with no context how does anyone know if it's good or bad? You don't.
The spin happens both ways.
Don’t know, but will it matter? You will deny it anyway. If Mexus found a gold hoard you would say the PR’s can’t be trusted.
MarMar didn’t produce and we are still having to clean up their mess.
So far the “mess” has yielded Mexus $10K.
Gold recovery expert Robert Garcia join Mexus
CABORCA, SONORA STATE, MEXICO, October 16th, 2017 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that it has retained gold recovery expert Robert Garcia to assist with an increase in production at the Santa Elena mine. To date, the recovery of gold via the Merrill Crowe system has not been adequate due to issues with the chemical analysis and flows. Mr. Robert Garcia is President of Auric Metallurgical Resources in Arizona and has extensive experience with mines and metallurgy. Mr. Garcia is evaluating and customizing the Merrill Crowe gold extraction plant which will help achieve maximum recovery.
Yes. I accept that. My point is PRs about gold sales that were issued prior to the last quarter (i.e. late 2019 early 2020) but revenue or sales of gold was not reported in those subsequent 10qs or 10ks. 10k and 10q information is the only info I consider credible from this company.
Mexus PRs are not a bona fide source of facts. Just because Mexus puts it in a PR everyone acts like that is undisputable reality.
I'm not saying the gold sales reported in the last PR won't show up in the next 10-q. I'm just stating that based on past deceptive PRs it should not be consider fact until it does show up in the 10q.
Argo may have left due the reason Mexus gave, but that is not undisputed fact. It didn't even come from Argo. It came second-hand from Mexus. We will likely never know the reason why Argo left. We can all have our own speculation as to why, but neither side can claim it as fact.
Folks can't claim they "know what they own" on one hand, then be in denial to any holes in their facts. Anyone who has done minimal due diligence can poke holes in what Mexus often claims. If folks still want to buy and believe even with those concerns, great. But I wish folks would quit trying to pretend they don't exist. It's a penny stock for a reason. It's not the sure thing some are trying to make it out to be. Coincidently those trying to make it out to be a sure thing appear to have the most invested and the most to lose.
Yep... the company sent out a PR (and 8-K) claiming to have sold gold in late 2018/early 2019 but it never made it to the financials.
PRs are not facts. They are claims by the company. Often times those claims haven't turned into reality.
You can take it at face vakue if you want, that's your choice. But as of this moment, it is not a proven fact.
Even after you’ve read some valid facts from 8, and Dino, what you choose to do with those facts are yours to interpret.
The one radiating fact that HAS changed for Mexus’ advantage, since this JV with Argo, Mexus IS now producing gold from a heap leach plus an operating ball mill.
No. Mexus claimed Argo backed out due to price of gold. Argo never mentioned a reason.
Gold prices are now significantly up (and anticipated to go much higher). If that was a determing factor, then why is Argo not back trying to work out a deal?
According to PRs JV's are being discussed for other Mexus properties not Santa Elana.
I realize it's hard to keep up with the story constantly changing. Happens to me quite a bit too when it comes to Mexus.
Then can we agree the drill results are not a strong as being portrayed by folks on these boards?
If they were, Argo would not have backed out. Or at the very least, now that gold prices haev been well above $1,200 for the last few months there would a credible JV or two showing some interest.
Argo did the drilling then quietly bowed out after getting the results. That's what they thought of the results.
Also, If Mexus thinks these numbers are so rock solid why isn't there a mineral reserves study completed. You can't have it both ways. You can't say, we did the drilling and it proves the gold is there, and then claim SEC won't allow company to claim revenue without proof of reserves.
Which is it?
A way to clean up the share structure for uplisting or JV/buyout makes more sense.
My opinion, this is bad. I beleive the company is doing this in order to free up more shares to cover for future toxic lending notes.
Others will argue this is being done to make the company attractive to potential buyers and assist with uplisting. To me that's fallacy becasue this company has yet to produce gold with any kind of consitency. What little amount it has supposedly produced is unknown. Dollar amounts here and there have been given, but no ounces have been shared with those numbers.
How much of a fee did TD charge you for the R/S?
And now the rest of the rest of the story...
Mexus was created under the premise that feasability studies didn't need to be done, The proof of concept would be actual mining results. (I.e. no need to do studies when you know the gold is there, just start producing and the rest will take care of itself).
Well... Mexus has yet to demonstrate that proof of concept. $9,000 is 6 oz of gold (assuming a conservative $1,500 per oz price.) Notice there was no information given about how much material was processed, how much of the material remains, purity of the gold flakes etc.
Any company looking to buy a junior miner will only do so if there either a bona fide feasability study listing reserves or the company has established continuous, profitable production. Neither one has happened. This reverese split was done to make room for more toxic notes.
If PT wants to show he's serious this was done to make the company more attractive to buyers, then in addition to the reverse split he should reduce the total number of authorized shares.
I also find it laughable that now the story has changed to "I always doubted that PT ever thought that he would bring Mexus to full fold out in operations ALL on his own" when folks have been quite clear PT has had no intentions of selling, ever.
Everybody just lost 20 percent of their shares. Additioanlly there will be more toxic notes issued and and share price will likely drop over the next few months. No matter how anyone trys to spin it, this is a turd in the punch bowl.
I think they only have to keep the "D" for 90 days post split, then it goes back to the MXSG symbol.
This explains why the drop in price today. Almost as if some knew this was going to happen.
For those who have not gone through a R/S before, just a heads up that most trading platforms charge a fee for R/S. So on top of losing number of shares, you'll get charged for the event.
Gotcha,... Thanks.
So the 14c is reqauired to be filed/posted by when?
Does this mean it's been filed and will be implemented at end of business today, or is this still just in preparation for a potential/eventual R/S?
If this means it's happening today, what's the rule on when the 14c announcing the R/S is supposed to be released?
Don't you know? The money's in them there dusty certs.
Also, what's to keep it at a 20:1 RS? With a one man band just re-file a pre 14-c make it a 100:1 - 1000:1 reverse split and really reduce the number of outstanding shares.
Yep, it's 92% pure crytal gold flakes.... today.
Tommorrow it's oooops gold flakes are mixed with other foriegn agents (e.g. zinc) and can't be refined for sale. (That's really not a sale, because gold mines not in production can't sell gold, only deduct asset costs per unwritten double secret probation SEC rules that haven't been enacted yet. Even though the company previously reported gold sales, but now claims they can't becasue someone who was involved in some other mining said that company didn't do it that way).
I admit I don't have a ton of knowledge about how leach pads work, but would the dirt eventually have to come off the pad at some point even without the salt issue? In otherwords, wouldn't Mexus have already needed a plan for what to do with the tailings and treated material?
Also, while I do find the timing of the PR and loan conversion to be more than coincidence you have to give props that even with the less than glowing PR share price held up and even increased during the first day of conversions.
Wait.... it took two years to determine there was still too much salt?
Two thoughts;
1. Afer two years of leaching, wouldn't most of the salt at the bottom of the liner already have binded with the silver and flushed through the system?
2. Why wasn't this issue discovered and addressed earlier. Ceasar just now opened his high school chemestry book and learned about Silver Chloride?
How conveneinet that the newly operating ball mill just happens to be the solution to recovering the salted gold flakes. Guess we're just lucky, huh?
This also begs the question, if Ceasar originally mucked up the first batch of gold with too much zinc and then took two years to discover there is still too much salt on the pad, how can anyone put any trust in his chemestry abilities to come up with accurate assay amounts?
Additionally Ceasar is a geologist. Shouldn't this fall within the purview of a metallurgist? I thought we hired or contracted with at least two or three different metallurgist over the last couple of years. Why aren't they leading this part of the project?
I'm more confused now that before.
It REPORTED back then washed NUGGETS ( ALL THE HUNDREDS and HUNDREDS EASILY HIDDEN ONES) sales long halted with the placer operating brothers as MXSG now proclaimed enemies which were NOT GUIDE 7 processed ore recovered which is not allowed with no listed resource. IOW Where the heck you been last 4 years? WASHED HIDDEN NUGGETS ARE NOT SOMEWAY PROCESSED NON ASSET SEC DEFINED ORE. GET IT? WHY NEVER SINCE? IT STOPPED!
"Have the SEC guidlelines changed since 2012? If so, please link to those changes or let us know specifically where they can be found (what reg, sub title, section etc.)."
Quite somewhat!. You tell me. Again where ya been last 4 years?
https://www.dorsey.com/newsresources/publications/client-alerts/2019/02/new-mining-disclosure-rules-2019
What's your point?
Just because Gold Resources didn't report gold sales as revenue doesn't mean it's a SEC requirement. I'll point out (once again) Mexus previously reported gold sales as revenue in it's 10-k.
Have the SEC guidlelines changed since 2012? If so, please link to those changes or let us know specifically where they can be found (what reg, sub title, section etc.).
Effective March 31, 2011, we acquired Mexus Gold S.A. de C.V. (our wholly owned subsidiary) and began funding mining operations in Mexico. A small placer processing operation was instituted to evaluate various areas of interest within the project lands held by Mexus Gold S.A. de C.V.
I don't make the rules nor very obvious exceptions last 80 some years. BTW not being tightend, changes are being set more to intl standards.
The guidance was posted right next to the 3D Model from the drill results, gold sales from the tub of zinc and phone number for the number for the investor meeting PT was going to hold.
That is correct. However, what folks have to be careful of is assuming facts that aren't there. Does it seem logical there are other workers at the mine? Yes. How many and what they are doing are unknowns. Is it just Ceasar and one other guy? Is it a team of 20 employees and detailed security force? Nobody really knows. Can you call PT and ask? Sure, but PT has a record of not being completely forthcoming with details.
Many, many times what has come out in a PR can not be substantiated by the 10-Q or 10-K - In some cases the PRs and financials have been contradictory to one another. Just becasue PT said it does not mean it is fact. It may be what he hopes to be fact.... someday. But can not be taken at face value.
Be sure you know what is bonafide facts and what is assumed to be facts.
Fact is MarMar lied and was the FACTUAL court accepted case that was used to regain full control and send them packing forever from Sonora by the decision. Mexus continued to fulfill obligations when we know here first hand of active other family attempts to void the 2010 contract with Mexus.
Never will accept FACT SEC has wide allowance for small office (try one woman when she's in) corp in filing forms and IN PARTICULAR financing by accredited and 35 each allowed non accredited investors as FAMED Guide 7 exception. PLUS test mining sale FACTUALY expensed as non-asset including most infrastructure. Need we need keep showing the GRC example till is FACTUALLY accepted?
...Both mining staff and equipment has been increased since I invested and a pregnant pond has been constructed, Leach material piled, drip started, pregnant pond accumulating, processing equipment installed and operating
Employees
We have one employee, Paul D. Thompson, and no other employees at this time in the United States of Mexico. Consultants with specific skills are utilized to assist with various aspects of the requirements of activities such as project evaluation, property management, due diligence, acquisition initiatives, corporate governance and property management. If we complete our planned activation of the operations of the Mexican mining properties, our total workforce will be approximately 20 persons. Mr. Paul D. Thompson is our sole officer and director.