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Unlike larger companies Mexus cannot borrow money and can only raise funds thru dilution.
If that email/letter is legit it presents a few problems.
First it establishes more dishonesty from PT. The audit was not delayed due to COVID or production related issues. Its because they couldn't cover the check for the audit.
One other major item that seems to be lost in this discssion is the loan that has been delayed. If the company can't cover $40,000 for an audit and equipment hauling then there is no way a $125,000+ loan is getting paid off. That loan is going to convert.
This stock is headed down before (if) it goes up.
Yes ....you could use your HOT AIR breath to see that the gold sales ARE included In the exploration costs as a test miner exemption
Wow! $5000 an ounce cost? Ok well... $5000 x 100 ounces = $500,000 cost per a month. That would be $6,000,000 spent for the year.
As long as someone insists that Mexus is a production phase company.
Does anyone have any idea what loans have converted and what loans are still outstanding?
10 million traded today seems indicative of a note converting.
The June 15th PR referenced the refinancing or the $179,000 loan that was due June 16th. One would assume (my fault I know) that any loans that came due prior to then had already been converted. Why the need in today's PR to reference a loan that came due a month or prior?
It does not only leave the good points. The note converted due to non-payment. That's not a positive. It's not the end of the world, but not direction or outcome that was promoted in the previous PRs.
I'm still not sold that gold sales (if they are happening) are as strong as being hyped.
"There are none so blind as those who refuse to see".
The audit process was delayed due to the company moving from an exploration company to a production company. The auditors required additional information concerning the sales of gold and the accounting procedures put in place as required by Mexican law.
(“Mexus” or the “Company) announced that the company satisfied a $57,000 note payable by way of conversion.
Not defending what 49 is claiming by any means, but Mexus has had it's fair share of lies and innuendo too.
At the end of the day if you want the contrairians to go away, it on Mexus to show the money.
When playing football fellow teammates would get mad becasue the other team was trash talking. Our coach always told us if you want to shut 'em up just out score them and point at the scoreboard everytime they start to trash talk.
If Mexus takes care of business the way you claim they can, the contrarian voices will eventually cease.
A typial PR with forward looking anticipation isn't what the crowd is waiting for.
In my opinion the set-up is waiting on the 10-K. Good news and we push towards .01 or better. Any negative surprises (more loans disclosed or no gold sales demonstrated) and we push .0025 or lower.
Great question!. Not sure what that minimum amount of production needs to be to in order for Mexus to be considered a bona fide junior miner. Would love to hear Belgie's take.
As for the proof. At this point I feel strongly it has to be a 10-k or 10-q to get other investor's attention. Personally, I want to see it demonstrated somewhere in the actual financials (i.e. balance sheet and/or cash flow statement). That wouldn't happen in the upcoming 10-K.
Other investors may be good with just something reported in the "Subsequent Events" report of the 10-K. In that case, gold sales could be mentioned in the Susiquent Events section in the upcoming 10-K.
Let's never mind that PM prices way up, set to go much higher, Mexus now producing ...upside potential from here is exceptional ...
How 10-K preparer chooses as to where it is applied as operation cost, non-asset? I've NO IDEA so wait and see seems correct move till July 14. Old joke goes , "Patience, mule".
MXSG is now legally in full Production
Be sure to read WXDog, TMlonggun and 8thaeros posts. All legitimate Knowledgeable people that have skin in the game.
Lies piled on lies? Took GRC another 6 years to finally report reserves and claim all exploration/development as an asset. Now who's a proven fraud?
Taken years but most now admit they know that SEC has an even stronger rule exception for small test miners. And want ME to tell them how it's filed as use of revenue. Like I write the 10K?
Annual audit comes out next month which I’m certain will surprise some folks...and a lack of loans (short of this nasty one that was conversion avoided) showing up in the 10k I’m sure will only help Mexus to get a golden shine to really start to blossom.
Belgie,
Truly I have much respect for your opinion, but when I see anyone post "Some people do their homework" it feels like a cop-out for I don't have a good explainiation so I'll pretend like I know something others don't.
What homework are you referencing? The information regarding the terms of the notes are not out anywhere in the public domain. Neither is any proof of production.
Please don't tell me to make a phone call to PT. He can make any claims he wants and then later claim... "oops well I thought we were going to produce enough to cover, but awe shucks we didn't".
No amount of "homework" can prove what you or I are alleging. At the end of the day it still a guess.
We're all doing our due diligence and seeing the same information. Its just that we're all interpreting it differently.
You assume that the refinancing is in the form of a loan, worse than before, with absolutely no information upon which to make that assumption.
The 24/7 commment was an example to help illustrate my point and not intended to be fact. But since we're discussing it, The company has stated leaching is already happening 24/7.
Where in operations is this increased productivity to occur?
This is a song and dance we've heard many times... we're expanding production... we're expanding production... new merill crowe to expand production.... at some point there has to be some proof of production.
Taking on new high interest loans to pay off old ones is not a postive. It's not a smart business practice used to expand opeations. It's done out of desperate necessity.
This may be where your definition of "increased production" may not align with mine.
More chemicals, diesel and personnel means you have the ability to process additional material, but it doesn't mean you can process more material within the same timeframe i.e. increase production. For example, If the current machenary is already working a full capcity 24/7 how does more chemicals, blasting or personnel increase productivity? It can't unless there is additional equipment.
Choosing not to pay down debt becasue you can't afford more chemicals is not operating at a profit and in my opinion it is not investing in increased production.
I'd encourage everyone to look at the overall big picture (not just today's PR). When looking at the high level basics of how a business wants to operate it doesn't make sense. How many times would you continue to take on more debt (at horrific rates) in the name of "increased productivity" before you finally stopped taking on debt and started paying off what you could and expand when you can afford it on better financing terms? You wouldn'
First you'd stop the bleeding, then you expand. You borrow at toxic rate levels because that's what you have to do to survive. You don't borrow at those rates to increase productivity. You'd wait until you could secure better loan rates.
So much for the massive ...I MEAN ??? MASSIVE... dilution
Revenues from the sale of gold are currently being reinvested to increase our monthly production.
I'm not seeing how we get to a penny with the notes that still need to convert.
I'm personally not even going to consider adding any more unitl after the R/S and a 10k or 10q showing gold sales and no remaining or new toxic notes taken out.
Appreciate the clairifcation. Now just need to see the proof in the financials.
I'm trying to get on board, but still have a lot of doubts.
Mexus does not need to explain every detail and I don't expect them too.
However, we're supposed to believe that approx 6 months ago they announced a delay in production becasue it was essential to get a larger MC in place. Now, all of the sudden, that piece of equipment is no longer needed and they are back to using a electrowinning process they used previously and it is able to capture 100% gold?
Logically one would assume initially the comapny wasn't having the success it wanted capturing gold with electrowinning so it was dropped or the MC process was added to suppliment the process. Supossedly a process was discovered using the MC that worked, but in order to scale up the operation a larger MC unit was needed. Operations were put on hold until a larger unit could be put in place.
Now it appears the larger unit put in place has been discontinued and the previous electrowinning process is now so effecient it is capturing 100% gold. In other words we went from dropping the EW process (or combining with the MC) becasue of an unsatisfactory capture rate, creating a succesfull process involving the MC. Only to drop that successful process and go back to to a miraculous ability to recover 100% with EW.
Sorry, but that problem solving process doesn't appear logical. Is there a plausible explaination? Perhaps. But to me it feels more like another Mexus bait and switch tatic.
No circular logic, just confusion.
The most recent PR said "Carbon cells and electro winning processing continue to operate capturing 100% Au without interruption."
The previous PR said "Gold solution is being processed at 70-80 gallons per minute with carbon columns and electrowinning being utilized for final gold recovery."
Neither PR mentions that the Merrill Crowe is in operation or needed to aid with recovery. Previously when I pointed this out. I was told the MC process is done 1st and the remainder is captured with the electrowinning process. Now this PR states carbon cells and electrowinning are recovering 100% of the gold.
Is the Merril Crowe being used? If not, why all the previous delays to get a bigger unit it set-up if we were able to get 100% recovery with just electrowinning? Heck even if we were only getting 90% recovery, why create a delay for the bigger MC? - Not exepcting anyone to know the answer.
Why it a big deal to me?
Mainly, its an illustration in Mexus' inconsistency of getting its story straight within it's PRs. In some cases those inconistencies can be explained, but typically they are red flags.
Ok.
Then that begs the question why the need for Merril Crowe processing if the electrowining is getting a 100% reccovery?
It all boils down to credibility.
I am not aware of any mining operation that has a 100% gold recovery rate. There is always gold remaining in the tailings (usually a low enough amount that it's not worth the cost of contnuing to process or re-process). Maybe they are getting a 98% recovery, which woudl be great, but be accurate and honest about that data.
That Mexus is boasting an impossible 100% recovery rate further demonstrates how cavalier they are about putting forward accurate data.
Mining is a technical process. It can be the difference between actually recovering gold or havng a 250lbs bucket of zinc sludge ladened with gold that can't be separated.
These little details do matter, if for no other reason than to demonstrate competency - something Mexus has not done a good job conveying.
Once again, Mexus overplays it's hand by boasting 100% recovery.
The new goalpost of "no profitable gold there" will also be proven incorrect.
...a bottle roll test can be used wherever and whenever the mine operator feels its results would be of value.
That's the milion dollar question isn't it?
Have you seen any indication in the 10k or 10q that gold has been sold?
Reason being if Mexus is a scam and there is no gold at Elena...then I guess if they started ACTUALLY producing gold (then selling it) it would make me question the zillions of posts “stating that there isn’t gold there, cause this is a scam”
Reason being if Mexus isn't a scam and there is gold at Elena...then I guess if they haven't ACTUALLY produced gold (and sold it) after claiming multiple times to have done so, it would make me question the zillions of posts “stating that there is gold there, and this is a legitimate operation"
So then what do those numbers mean?
Were all 12 samples done with the same amount of cyanide? Were there higher amounts of cyanide in some bottles? Were different levels of cyanide used on material from the same sample area?
Without any other data what conclusions can be drawn from it? Is it simply a "more gold is better" type of statement?
The numbera are somewhat meaningless without some context.
Correct. The average could be closer to the high end of the range. If that were the case there would be no advantage to post a range. You'd want the focus to be on the higher number, and not how low the range goes (in other words, you wouldn't need to "hype-up" the number).
On the contrary, if the average number stunk, it would be advantageous to portray a range in order to give the optics of a potentially higher number.
It is my belief this is why Mexus portrays "averages" in the way they do. To mask how low the legitimate average number really is. It's not illegal , but it's not forthright either.
1. Friendly Prof's note:
Red pencil chapter FAILURE. "Mean median mode and range" combine as HUGE bell curve middle area to some are at extreme pt skewed. Babble-on as ever. No facts. So how many basic Stat classes skipped? Too many will even drag the "averages test F" down more so take care to see that face now-again far back right, AKA spitballer's corner
Those still refuse to read up?Production ( gold recovered) is plainly announced by 1st MC with final electro-won carbon for best full recovery.
Weren't you the one predicting some overdue delay announcment today?
102 oz of production sounds great. But only if it materializes as gold sales on the financials. The rest of the PR is future wishes and dreams.
Note the PR says the company produced 102/oz of gold. What is the company's definition of "produced"? To me it is telling/significant they didn't use the term poured. It makes me wonder if this 102/oz is in any kind of dore form, or just an estimation of what's in the leaching pad - or somewhere in between these two stages.
I'm a bit confused on how gold is being recovered. Is it with the Merrill Crowe process (after all, the previous delay was for a new Merrill Crowe that could produce more oz per day)? Or is gold being collected with carbon filters and electrowinning? Maybe it's both, but then not sure why we needed the delay to wait for a larger Merrill Crowe as the electrowinning would do a majority of the processing and the Merrill Crowe would be used to recover the residual amounts. Would appreciate anyone with expertise on these two processes to provide insight.
My final thought - Can we please stop the B.S. about producing future reports? How many times has the company claimed this, only for them to never materialize?
Overall, only more unsubstantiated claims in this PR. Might be enough to keep maintain the current floor for share price, but I don't see this as the catalyst for a move upward.
I appreciate the candor, Belgie.
The key at this point is that the mine is self suffucent in it's operations. (Producing and selling enough gold to pay the bills and not require taking on any more debt - toxic loans or other private placements).
The most recent PR is stating "for the last 3 months the company has been able to operate and expand using gold sales only and without taking on further debt" is a good sign. In my opinion it is essential that trend continues.
If it's discovered any additional notes or private placements had to be taken out to keep operations afloat, its all over.
The share price is going to to take a hit over the next 30 - 60 days. In my opinion it makes no sense to even think about buying another share until post reverese split. And even then its under the condition no new loans or debt have been taken on.