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If I were to interpret that conversation it sounds like the 10-Q will show more loans were taken out (to pay for chemicals) but uncertain on whether or not gold sales will be shown.
I'm truly confused by the "Yes and No" response about gold sales being in the 10-Q. There are either sales reported are or they're aren't.
It sounds like he's prepping us for a small amount of sales. That's frustrating because the PR from September 23rd clearly stated...
I don't see how this is news that will make the price move up with any significance.
Key take-aways from today’s PR.
1. New equipment, that is bigger and better than previous equipment (that was bigger and better than the previous equipment it replaced), is complete and operational.
2. This new equipment can handle 3000 tons a week (If I recall correctly I thought some longs claimed the previous MC system was going to be able to handle 10,000/week).
3. We are no longer digging and processing ore where the company performed the 3rd party drill program that turned-up “promising” results. (By the way the final results were supposed to be completed February 2019 but I don’t see that those results have been published yet). We are now digging where in-house assays have turned up “excellent values”.
4. Production cost are estimated to be $437/oz. But that projection “…is based on a gold spot price of $1500 an oz. and silver spot price at $18 an oz”… (Not sure how gold and silver spot prices influence our production cost).
5. Still no official record of gold sales.
More of the same.
We're getting dangerously close to breaking the support line. At this point .005 is looking more likely than .05. Yuck.
I agree... however...
Mexus is at a point where PRs are moving share price less and less. Buyers appear to be more skeptical than January 2016.
So yes, news trumps, however what kind of news and, (in my opinion) more importantly, the ability to authenticate that news (i.e. 8-K, 10-Q) is what will really cause a price spike.
More of the same types of PR's will result in the same churning of price action.
Have to disagree. It may have hit "bottom" twice, but moving average is signaling a slight drop and the last couple of weeks have been churning between .009 and .015.
It's too early to tell if the breakout will be an up trend or down trend. Right now the market is in an overall wait and see mode, with the bottom support gradually dropping.
A sudden move to .0075 or .02 and you'll have your answer.
Right idea with the shareholder vote. Only one problem, there is an accumulator that owns the majority shares. He alone will determine if and when a R/S will happen.
It was he alone that was able to approve an increase in authorized shares approximately 2 years ago. All the rest of the shareholders were sent a post card telling us what was going to happen and that there was no need to send in our vote.
Even though as a shareholder you technically have a vote in what happens, the reality is, at this point, you're only along for the ride.
It is also at PT's discretion to take shares in lieu of salary.
It is certainly understandable that he needs some kind of income for his own day to day living expenses.
It's curious why from time to time he doesn't take a salary in lieu of shares. The optics of taking a salary from time to time would look better than selling right before a supposed ramp up to more production (and cause a lot less headaches with Form 4 reporting).
Imagine that, Mexus uses an abbrviation in an unorthodox manner and it causes confusion.
Kind of when talk of LOI was thrown around on the boards and people foolishly interpreted it to mean Letter of Intent when it was clearly meant to mean Lots of Interest.
Weird how these misinterpretations keep happening. Obviously its not due to Mexus poor PR writing style. So it must be due a lack of intelligence by everyone else.
Agreed. PT selling shares is not what is driving down stock price and, in my opinion, is the least of Mexus' issues.
Repeatedly claiming production and gold sales without backing up those claims is #1 on my list.
The current location of a piece of equipment that will increase gold production, while not irrelevant to Mexus future success, doesn't even crack my top 3 list of concerns either.
Honestly, I'm more interested in knowing when an 8k or 10k will be published listing gold sales than the current location status of a new piece of equipment.
Mainly because the former information would be (hopefully) more beneficial to my brokerage account than the latter.
Two comments to that explanation.
1. Paul has the option to take a salary or shares in lieu of salary. If he needed the cash to survive, he could always opt take the cash salary.
2. Assuming Paul was being selfless and selling his shares to build things to assist with the company, then there would be no need to have an $800,000+ General and Administrative Expense on the annual financials.
I certainly agree Paul needs some income to survive. Selling shares to achieve that does not provide the best optics, for him or the company.
It's not debt, per se. The accumulated loss is being "paid" for via stock dilution.
Stockholder equity is reduced as a result.
If I recall correctly according to the JV agreement Mexus was supposed to receive 10% of sales until Mar Mars expenses were recovered.
I understand 10% of 8 oz of gold is $1,000 or less but nevertheless that should have shown up on the financials... as bad debt if nothing else.
So now Mar Mar is responsible for Mexus previous PRs about gold production and gold sales that never materialized? C'mon... Mexus posted gold sales occured, but nothing ever showed up on the financials to substantiate that claim. As far as Mexus financial documents (and subsequently Mexus shareholders) are concerned, those gold sales never happened
I have never said anything was fake. Gold production and sales could very well be occurring. But, until those gold sales hit the financials it doesn't mean anything to shareholders.
Share price isn't moving based on company PRs claiming production. Want to know why that is? Because the company has made that claim before and the gold sales never materialized. It's not just me saying the company's word doesn't mean s**t. Other investors are saying the same thing by not buying in until sales are proven. That's why share price continues to remain flat, even with the PRs claiming gold sales.
It's well documented Mexus has made claims in it's PRs that never materialized on the financials. Nobody needs to take my word for it, a quick read through previous PRs and company financials will more than demonstrate the company's claims and actual results don't match-up.
Problem is, we've heard that line before;
Don't mean to be Debbie Downer, but please be careful to separate what is established fact and what is opinion.
Too often on this board there is information shared by posters that get repeated enough that it gets taken as information from the company. Then if/when it doesn't pan out folks are upset the company lied or misled them, when it wasn't the company that set up the expectations, but a poster who supposedly was "in the know".
Trust but verify folks. If it hasn't been reported/communicated via a FTC enforcable method than it is not something the company will be held accountable for if it turns out to be inaccurate.
There have been multiple reoprts/guesses about what material is being processed on the pad. It may turn out to be lower grade, or it could be the good stuff. We don't have any information from the company presented via a method that they can be held accountable for if untrue.
In your opinion, what is the catalyst needed for the price to move to the next level of support?
Also, any theories on what that next price level might be?
Optimism is good, but the pendulum seems to be swinging too far to the "to da moon" sentiment based on today's PR. It is too early to be floating $1.6 mill numbers around.
The tone of the PR is certainly positive. Gold production is great news. However, nothing has been substantiated yet. Aside from the fact that we don't know how many days the company has been able to successfully produce 3oz of gold (has it been 1 day or 30 days?), the company has not placed itself under any legal commitment that sellable gold has been produced and or sold.
In my opinion an 8-k stating gold sales made thus far would be the best catalyst for stock price to jump.
For now, I'm still cautious. Optomistic too, but not ready to count those chickens yet.
Wasn't trying to call anyone out, just curious on his perspective and wanted to clarify.
Wx has reportedly been boots on the ground recently. If he is suggesting all time or 3 year highs, I'd be curious to hear his rationale.
I tend to give his view more than a passing glance.
New highs compared to what time frame? Last 12 months? Last 3 years? All time highs?
I still think .08-.09 is the top at this point (and that assumes verifiable production and gold sales). If i recall correctly, past highs stalled around $100,000,000 market cap. A 1.13 billion float equates to an .085 share price.
That being said higher is possible if the gold sales are suprisingly strong.
Fair enough.
Thanks. I did miss that in the PR. My mistake.
I'm still guarded as we've heard this story before and no sales were ever reported on th financials.
In my opinion its not real until it shows up on an 8-k or some other leaglly enforceable document/report.
Price seems to be holding.
I still would like to see more volume. We are certainly in a wait and see mode.
Not sure what you're doing. All I know is you're doing it wrong. Simply because it's not the way I say it should be done.
Buy and hold is the only way. Anyone who waits and buys dips then sells the highs is a fool!
/Sarcasm.
And of course we can expect the sales from the $10k and $20k of PM will be reported on the next 10q or an 8k will be released confirming these sales, right?
Volume is an indicator of activity and investor interest. Higher volume usually means momentum is building and would help confirm an uptrend is happening.
Plus people looking to buy in wany to know they can sell without too much hassle.
Not thrilled about the drop in volume today.
It's not the investor's fault the PRs are so poorly written they bring criticism. Your point about having some kind of reference object in the picture is a perfect example.
When you play in the world of publicly traded business, these details matter to most folks. Especially if this company wants to eventually bring in bigger investors. If you own stock, you should have this expectation of the company if you want your shares to ever be worth more than speculation value.
Serious money requires serious answers, including credible, accurate and detailed data to supporf it.
My guess is conservative side .02 -.03 with an upside of .05.
That's just based on everyone playing the hype. If the company can demonstrate actual and consistent gold sales, then on a good day with the current gold climate .20 is a possibility.
Complete speculation on my part, and nothing I would wager big money on. This is still a high risk play.
Yes, it is positive momentum, but we've been here before (actually even had a pour amount declared) and later found out we weren't even close to consistent production.
Optimism is good, but we are not at a sure thing by any stretch of the imagination.
Until there is concrete documentation (statements the company can be held accountable for in a court if found to be inaccurate or untrue) investors should remain guarded.
I think there is a play to be made in buying in at this level, but its based on price action and how much hype will convince the price to move up. Its not based on any confidence in long-term business fundamentals.
Not saying it won't ever be successful, but we aren't there yet.
Past performance is the best indicator of future performance.
Mexus investors haven't been through this cycle just once, they've been through this cycle multiple times.
Could this time be different? Perhaps, but I refer back to my opening sentence.
That's why the past is worth discussing.
If i were to guess, the response will go something like this.....
Mxsg has been very clear that due to threat of robbery from banditos and the need to first contract with a security firm, etc. they will not announce pours until after the fact.
At that time all sales will be reported on the company's financials as has been established with previous pours and gold sales.
Buy now in order to get your cheap shares.