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Price sure isn't acting like something like that is going to happen.
Who would be the party pressing charges? Anything generated by shareholders would likely require SEC involvement and there has been no mention of an SEC investigation taking place.
It's possible someone is selling off to buy private placements, but i don't think its likely someone would take a huge loss on shares just to free up cash to buy PP. Why take a 50-90% loss on share price just to earn 10% return on a note?
If you honestly felt the PP funds would ultimately result in an increased share price you'd want to hold on to those shares.
There are multiple loans. Some have the terms you've described other have the terms I've described.
THERE ARE NOTES ISSUED TO MEXUS WHERE THE CONVERSION INTO SHARES IS DEPENDENT ON PREVIOUS CLOSING PRICE.
I just showed you where it's stated AS FACT in the 10-Q!
Good grief I feel like I'm being told 2+2= Potato.
Do you have any "facts" to support your side of the argument or just sticking with the the ol "Liar, liar, pants on fire" rebuttal?
Since the conversion rates for the toxic notes are calculated using the lowest or average closing stock price over the previous number of months, one theory I'd suggest is someone is painting the tape to try and keep the closing price as high as possible in order to keep the amount of stocks needed to cover the toxic note conversions as low as possible.
Not fact... just a working theory on why it's happening.
When share price opens at .005, then spends most of the day in the high .003 and low .004, except for the last 30-60 minutes of the day when a buyer miraculously sweeps in and buys until the price gets back to .005, that's a paint job.
Interesting or concerning?
Not liking how it is getting more an more obvious someone is painting the close. I'd like to see price start holding and/or increasing without the appearance of manipulation.
nah... I'm almost certain if they had sold 320oz of gold it would have been put in a PR.
Would be nice to know the status of the last note that was due. Was it paid or converted into stock?
Obviously the point of mining is to stack, leach, rinse and repeat. But you're telling me in the thousands and thousands of tons of material placed on the heal leach pad over the last 2-3 months with assays in the "bonanza" amounts Mexus is claiming, all that we got was maybe 20 oz of gold before the need to add more material to leach?
Then either we aren't getting 100% recovery as claimed or the assays aren't as high as they are claiming. Either way its more proof the crap being posted in the PRs is contradictory.
More gold sales are claimed, yet still no 8-k with sale amounts (or amounts of production costs offset due to sales if Mexus isn't able to claim sales per SEC regs).
Absent that legal proof, its still all pump.
Mexus isn't even trying to make the PRs realistic anymore.
First misleading detail is 100% recovery. Really, you're going to try and sell 100% recovery No mining operation has a 100% recovery rate.
Next, How much more material needs to be heaped? Of all the tons and tons and tons of material that have supposedly been placed on the leach pad with these amazin' rich pregnant solution amounts there should be more than 8-20oz of gold extracted before more material is needed to be placed on the pad.
C'mon... the pump is beyond obvious at this point.
Wow... with all this amazin' rich gold deposits in the area it makes you wonder why PT is struggling so much to produce any gold, especially being the expert he is and all.
Which way do you want it? If the gold deposits are as amazin' rich gas you claim, then after all this time you'd have to admit PT is inept for not producing any more than 25oz of gold.
Or if PT is as big of an honest expert as you claim, then the amazin rich gold deposits aren't so amazin' rich.
Doesn't tak an expert to see that those two claims are in direct conflict of one another.
So which is it? An Amazin' rich deposit and incompetent CEO, or competent CEO and not so amazin' rich deposit?
What happened to the PT isn't on site allegations? Bad source of information or something else?
PT is the sole company executive, board member and majority shareholder. If there was any action taken it wasn't by Mexus against PT.
It would have to be a complaint made by an outside party and likely would need have criminal charges behind it to warrant any kind of detainment.
Care to share your source of information?
The better question is who would be in a position of authority to throw him out? He's the CEO, Secretary, Treasurer etc... and the majority shareholder.
Not sure anyone would have the rights/authority to do that.
All I'm saying is that while you can't believe everything that is said here, when it comes to 49andretired he's been right on enough stuff that you can't dismiss it out of hand either.
I recall at the end of the MarMar debacle Garcia making claims that Mar Mar was still on site. Those claims were flatly denied by some of the longs around here, only to find out in a later PR that MarMar was still around and causing problems.
Both sides around here like to embellish and portray half truths enough that it feels like a bad game show episode of To Tell The Truth.
Even the longs wouldn't have dropped $11,000+ in this stock over the last 2 months. I don't know of any investors who would lose $11,000 in their first 2 months of a stock purchase and still hype up about how great a buy the company is.
I'm doubtful that anyone making those kind of claims is as heavily invested in the company as they claim. If they truly are, then there is some kind of hidden agenda at play.
I stand corrected and will amend my statement to say since 2015 PT has claimed production and sales and it has never materialized on the financials.
Looking back, the company did show revenue in 2013 & 2014. It is quite interesting when looking at those two year's financials as the actual amount of revenue is unclear.
Looking at the 10k for year end 3/31/2013 the company claims revenue of $1,158,742. However, in the 10k filed the next year the revenue number for year end 2013 has been adjusted down to $320,226. My guess is the claim will be that Kenny absconded with that money, but then that would show up somewhere in the financials as a bad debt expense, which there is a line item of $240,673 listed.
Anyone know why 2013 revenue was adjusted from $1,158,742 to only $560,899?
Yes, even the company is guilty of blurring the lines between fact and opinion.
Mexus has never produced or sold gold, per their 10-Qs and 10-Ks, despite claiming so on their PRs. Fact.
Uh.... Why do you think share price has dropped from the .015 -.01 level to below .004?
Shares from a converted note are being dumped into the market.
The PR said the company "has satisfied two loan agreements which were coming due. The company met these obligations through the limited sale of gold and support of its shareholder base."
Fist, "satisfied" is an interesting word. The skeptic in me wonders why it doesn't say "paid off".
Second, the loans were satisfied through "the limited" sale of gold and "support" of its share holder base.
Why were the words "the limited" included? There is some significance to it, but I'm not sure what that is yet. Also, "support" of its shareholder base. One would normally take that at face value to mean the loans were paid off by private placement or some other debt/financing instrument that shareholders own. Could "support of shareholder its base" also mean they converted them into shares? Not sure.
Unfortunately, given the company's history of giving half truths and double speak, I've grown too skeptical to take any PRs at face value.
Make no mistake, the company is still in a toxic death spiral. It may not be something that takes it down in the next 6 months, but the company is only surviving by taking on more and more debt at less favorable terms each time. (- Which is how I define a toxic death spiral)
It is possible the company can get out from it with serious gold production, but the odds of that happening do not appear to be in its favor.
PT has mentioned gold production and golds sales multiple times over the last 3-4 years. No gold sales have been official recorded in any financial document despite those repeated claims by PT.
You're correct PT can't say anything right. Mainly because when he says something, it does not turn out to be completely accurate. He no longer deserves the benefit of the doubt. If he wants to satisfy the masses it is really simple, put those words (i.e. gold sales) into a 10-Q, 8-K or 10-K.
Also, the lending notes may have been paid off, but the "debts" were not paid. They were just converted into a different form of debt. Essentially, he used the MasterCard to payoff the Visa Card.
That's the shell game that gets so frustrating. Folks like to pretend it is good news the debts were paid off, when they really weren't.
PT is not the victim here.
If they had the staff and resources to operate 24/7 three months ago, what changed that they can't run it 24/7 today?
I've got to admit, I'm impressed the price has help up this well amid the share dump from the loan debt.
I still think before the end of the year it will push the low water mark of .0015 before all the loan shares are sold off.
Revenue (i.e. sales) would still be recorded on the financials, but there would also be an accounts receivable line to balance out the uncollected revenue.
Sorry, not buying the ol "checks in the mail" excuse.
In Sept the company (PT) announced it sold gold. The 10Q came out an no gold was reported sold.
Everone said "Don't live in the past this time it is different"
It wasn't. Maybe it's still MarMars fault.
PT flat out lied. That is factually proveable. That's all you need to know.
Appreciate the insight, Belgie.
Are the leaching process and Merrill Crowe processing separate steps?
If so, why wait until the MC comes online before starting the leaching process again? Why not have that leaching process already underway so the material was ready for the MC to process once it was up an running?
I'm sure they are all honest efforts on Paul's part. Those that speak with him regularly all comment about his sincerity, I don't have any reason to challenge his sincerity but at the end of the day it's irrelevant to whether or not gold is/was/or will be produced.
I'm sure yesterday's PR is also part of an honest effort. But when looking at the whole body of work objectively, you have to admit there are credibility issues when the same thing is being said repeatedly with no change in the end results - well intended or not.
Each scenario is always going to be "different" than the last. Maybe this is the scenario that will be the one that works, maybe it won't and we'll start the process over again.
The point of my post was to show a historical pattern of similar claims being made with no gold being sold by Mexus. In other words, we've been here before and haven't seen a payoff.
Can you provide any insight to my first question about why the need to restart the leaching process? Why are we not able to use the material that was being leached when the 30gpm Merrill Crowe was in use?
Stop me if you've heard this one before;
My knowledge on the technical process of producing gold is lacking so forgive me if my question doesn't make sense.
Can someone explain why the need to restart the leach process? Shouldn't the material have already begun leaching when the company was running the smaller 30gpm Merrill Crowe?
I would have thought the same material could have been used - just swap in the larger Merrill Crowe system.