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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.
If only there were some kind of reporting mechanism PT could use officially communicate and document significant financial events like loan payoffs or other significant events in between the 10-Q & 10-K reporting periods. Then perhaps all this confusion could be put to rest.
Some other companies conduct their calls in they way you suggest. How many of PT's previous conference calls have been conducted in that manner?
I hope the call is handled the way you suggest. However, I stand by my statement that I believe the questions will be moderated so that Paul will not be put in a position where he will be subjected to a barrage of unfavorable questions.
You're overselling Paul's heroic call.
At best it would be a moderated phone call. If questions are taken, no one would be allowed to ask their questions directly. Questions would be submitted through a moderator.
Not a knock on Mexus, just how things are typically done.
Paul isn't putting himself in any kind of vulnerable position to be berated or embarrassed by the public.
This seems the most plausible from what I can come up with. I'm still surprised there are no motivated buyers to, at the very least, least keep price level, if not move price up. Candidly, I expected a strong move up on this morning's news.
The stock appeared to be primed for a pop based on (what I assumed) verification of gold sales. I'm trying to determine if I should read anything into the lack of price support after that announcement occurred.
Something isn't adding up with today's action.
An 8-K is finally produced and price goes down 10% on 4 million+ shares sold?
Am I missing something?
Finally....
After the MarMar debacle we were told there were folks with LOIs knocking down Mexus doors.
Of course in accumulator vernacular, LOIs don't mean Letters of Intent it means means Lots of Interest.
No way a company take out notes with the toxic terms and high interest rates when it could sell or JV part of claim with a reputable company.
Additionally, if a company has come to Mexus with a formal offer to purchase that information would have to be disclosed to shareholders somewhere.
So lets drop that farce, okay?
Mexus did not elaborately plan to wait until gold prices spiked to start selling and producing gold. They haven't sold any because they haven't been able to produce any to this point.
Mexus has sold properties at more than fire sale prices (and supposedly reacquired after the buyer defaulted). Additionally, Mexus gave up 50% interest as part of a JV deal that also fell through.
Mexus is doing it on their own now because after two failed partner attempts they couldn't find anyone to partner with them.
Let's quit pretending otherwise.
All great points. And we seem to agree on the overall point, which is we don't really know why Argo left because they never said publicly.
But now that gold mines are falling back in favor with the likely continued uptick in gold why are there no JV's lining up to come to Mexus.
Again, I'm not saying the drill results suck or are phenomenal. I don't have the expertise to interpret the data. But there are several posters around her hanging their hat on that drill study as proof of high amounts of gold. That's not fact either.
Argonaut sold La Fortuna. They were able to find a buyer because there was demonstrated value. Mexus has not been able to even find a credible JV.
If the drill results were as great as what some portray on these boards then why wasn't Mexus able to find a legitmate JV? A little deductive reasoning might bring one to the possibility that the drill results didn't warrant further interest to those who know what they are looking at when it comes to drill results.
The short-term potential is there. However, because it is still just claims from the company and there is nothing else to substantiate it I still see it as a play on whether or not investor sentiment stays optimistic and not business fundamentals.
It may get back to .015 - .02 but don't see it getting above .02 without an 8-k or some other 3rd party verification supporting production.
Not to mention there will likely be 2 notes due for conversion in March before the company sees payment for the produced gold.
Look, you're a knowledgeable and credible poster. I don't fault the optimism (and probably appreciate it more than you realize).
Where I am unable to empathize is with the accepting a PR as documentation that production has begun. How many times has this claim been made, only to not pan out in reality? I can understand second chances if it were a one-off event, but this cycle has played out multiple times.
8-k or 10-Q/10-K is the only way these claims of sales and/or production get taken seriously going forward.
PT lost his credibility. You don't get that back by continuing to make the same PR claims without also providing the documentation to substantiate those claims. PT knows this.
So why put out a PR without the other documentation to back it up? The most logical reason is they need the pump for some reason.
Now you're starting to see the whole picture.
If the company wanted to truly establish it has produced gold and made legitimate gold sales, there would be an 8-k accompanying the PR.
Until then, the point of the PR is to pump share price. Why would the company care about a short term pump in share price? The average closing share price affects the conversion terms. Higher closing prices = more favorable conversion terms.
Not being critical, its actually a very savvy move. Just make sure you understand the real reason for the PR isn't to establish legitimate gold production/sales, but the perception of legitimate gold production/sales
Absolutely agreed. Since I have less than $500 invested here, it's not worth it to me to go down the path of a legal filing.
If I had a few thousand wrapped up in this, I would be talking to an attorney about options.
Instead I've sent my concern to the SEC. Its doubtful they have the resources to go after a small potatoes outfit like this, but hopefully it puts Mexus on some kind of watch list.
C'mon, your interpretation of the regs is misleading.
Nothing in these regs states the company does not have to report the transaction of gold sales. It plainly states that the company may or may not count it as revenue if the company is in the test production stage.
Not saying 5 oz a day gets Mexus profitable. Just saying it likely covers the toxic note payments and stops that toxic note cycle.
That would be seen as a significant step forward and I would imagine share price would reflect positively on that change.
Whether or not 5oz a day is happening or will happen has yet to be seen. I'm skeptical at this point.
I haven't run the math, but it does seem like it would not take much production (5oz a day?) to at least cover existing debt. That at least gets us to treading water.
From there a slow a steady climb out of debt is possible. I would agree the timing of this works in Mexus favor in terms of the market starting to swing towards gold miners and eventually junior minors.
In other words, if Mexus can stop the hemorrhaging of cash and start paying off debt, the market has a high likelihood of responding favorably thus bumping up share price.
However, that tipping point is right now. The company can just as easily get swallowed up in an unsurmountable amount of debt or be unable to find willing lenders, if it doesn't start legitimately showing gold sales in the next 6 - 12 months.
Hopefully your suggesting legitimate and verifiable reports of gold sales (not just PRs making claims) are on the way.
In my opinion, that is the only thing that will bring up share price.
Yes. That is a great point.
I suppose they could make an argument that the gold produced is already reflected in the "asset" price of the mining claim, but it would be common for there to be a separate line item indicating they have "inventory" or some other designation indicating a difference between assets ready to sell and assets still in the ground (e.g. raw material vs. finished goods).
For those who must've showed up late for class lets try this one more time...
It would be great if Mexus cost to produce gold was $400oz. I don't buy that number.
First, Mexus has yet to establish it has sold any gold. How can a cost per ounce be calculated when we've yet to produce an oz of sellable gold?
Second, we don't have a credible study (one that would pass scrutiny of SEC) that establishes total reserves. With the company incurring over $30 million in combined debt/expenses and no idea what total gold reserves are, we have no way of calculating our per oz expense.
Perhaps once Mexus figures out the secret sauce to leach gold the production costs from that point forward are closer to $400 oz. But it is way too early to make any kind of assumptions of production cost per oz.
So Mexus handed over multiple gold nuggets to you at no charge?
Is this opportunity to pan for gold on the mine site available to all shareholders? I'd like my free gold nuggets.
Love the optimism.
You do realize it is extremely rare to short penny stocks? It's to volatile and ties up too much money to cover margins for low reward.
But just for the sake of argument if there were shorts out there betting against Mexus, they aren't frustrated. They're in the money.
You realize most of the things on this list cannot be proven or are in no way considered a positive.
1.) Two loans paid off in December. - These loans were not paid off, as in the debt was eliminated. They were paid off using a different form of debt, thereby creating more debt.
2.) A convertible was Dumped and Absorbed at .003 Likely 15 million shares! I'll grant that share price held up better than I expected during the conversion. However, number of shares converted are unknown and we have no idea if the conversion is complete.
3.) Buyers putting bids of 3k - 5k subpenny stock at .03! Agree it is a good thing we've seem to find a floor around .003 - for now.
4.). Announcements of gold in PR’s - Been there done that before. At this point PRs about gold mean nothing other than hype.
5.) “Continuous 7 day a week.” Mining operation - Besides being vague (is this 8 hours a day 24 hours a day, does it mean the Merrill Crowe machine is working all day, just that we are leaching etc.) there is no way this can be true with no employees.
6.). Expanding with possible royalties to partner We've been down this road before - twice. Both times have ended in alleged fraud and/or embezzlement and an excuse for PT to deflect blame for why gold isn't being produced or sold and keep up the perpetual ruse that MXSG can be successful.
7.). Weather phenomenal past month and next 14 days. Good in that it takes away one of PT's standby excuses for lack of gold.
8.). 10-Q likely out next week with missive gold sales Only one PR in August made reference to gold sales. But no amounts or other specifics were ever mentioned in a PR. Given the history that previous claims of gold sales have been made, but never reported on the 10-Q significantly increases the likelihood that NO sales will be reflected on the upcoming 10-Q.
9.). This quarter 10-Q in May WILL HAVE GOLD SALES! Too early to be determined. PRs have made claims of 22 oz of gold poured, but I will hold-off until closer to May before rendering an opinion.
10.). Gold currently consolidating at $1580 Got to have gold sales before this is of any significance to Mexus.
11.). MXSG near term over .01! This is possible, but there is also just as much chance its at .001 in the near term.
12.). Gold sustained $1650 by May! Again, Got to have gold sales before this is of any significance to Mexus.
13.). MXSG .03+ by end of May! Again, This is possible, but not likely given the 10-Q will not show significant, if any, gold sales (we're almost 1/2 way through the quarter and only 22 oz have been claimed to be produced). There is little chance we get to .03 with 3-5 billion shares outstanding.
14.). MXSG message board very active for .003 stock PPS I've seen other message boards as active or more active for stocks at .0001 for the last 12-18 months.
15.). Anyone can talk to CEO Paul Thompson by phone(Number PR’s)
16.). 2019 was the turn around year for MXSG Based on what? The company has taken on more debt, share price is the lowest in 5 years and shares have been diluted close to 300%
17.). 2020 MXSG will be best performing OTC stock of the year! I guess we'll see, but at this point I don't see a path for how it gets there.
Please do not risk mortgage money in this stock. I get that folks want to take a shot at a "lottery ticket" and Mexus can be intriguing in that way as a high risk high reward gamble. But this company is more likely to be at no bid in 3 years than to be at $0.10 a share.
This is not how the 1% get richer.