Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agreed. Absolute BS.
Very true. I'm pleased w/recent developments, but we are no where near anywhere out of the woods. This is a first step, but MXSG has an uphill battle to climb.
Ditto.
I didn't expect to see much of a bounce. I mean would you be inclined to add to your position just because they barely staved off insolvency? Plus, we need more financing for production.
Believe me I want the toxic loan to be paid off as much as you do, but there are several things that have me worried.
1) Let us assume the due date of the toxic loan is 5/21. According to pennywoo's call w/Mexus they were $12,000 from reaching their goal.
What worries me hear is credibility. I recall pennywoo discussing things with PT via phone a week or so before the 4/16 PR came out. PT made it seem as if good news was on the horizon. Yet here we are a month later w/PT "raising funds"to pay off a loan and stave off immediate insolvency.
2) Let's assume that the $150,000 is raised. Recall, that according to wxdog PT was looking to raise $250,000. $150,000 to service the loan, and the other $100,000 to get Ures into full production and pay off "misc" operating expenses.
So we've gotten through the first hurdle. But all that's really happened is that the "insolvency dilemma" has been kicked down the not-to-distant future. PT's latest effort of private placement unfortunately reeks of desperation and is a strong indicator that insolvency will be MXSG's fate if it cannot raise said funds.
3) Let's assume that somehow PT manages to raise the $250,000.
So now we've got the money to make Ures fully operational. Not sure about you, but given the track record of Santa Elena do you think PT can get Ures fully operational AND producing gold? It's a hell of a long shot and each day I grow less confident that MXSG can do so.
4) I cannot yet say if MXSG is a scam or a con, but what I can say is that PT and MXSG had us believing one thing as recent as Feb/March only for us to be on the verge of bankruptcy in May.
We can barely pay off a note that we've known is due for how long now? We've severed ties with our JV partner who we just learned was not meeting contractual obligations for 22 months. We are at the verge of insolvency and all of us (shareholders) should be extremely worried even if PT finds success in this latest private placement.
We need a hell of a lot of luck and I hope to god MXSG gets the break it needs. That the stock price hasn't completely collapsed is encouraging, as posters as recent as 9-10 days ago were predicting a tanking that never materialized before 5/14. Still, it's too early to tell much of anything.
Wish I had money to give. I would just to save what I could of my stock. Thanks for the heads up. 12K should be doable.
Does anyone who regularly calls know if the note was paid? This is pretty important. The silence from Paul or MXSG regarding this matter is unsettling.
So do you think the fat lady has sung T-Hawk? I'm leaning that way but still have yet to take my money out. For me it's kind of pointless I've lost so much already. Just going to ride it out and hope for a miracle bump.
Ah I'm sorry then. Maybe I've misread your posts or mixed you up with other posters. . But my post is still relevant to many other posters. Again my apologies mate.
Do you truly believe what you wrote?
A "sharp poker play"?? Are you being serious here? You don't see the glaring red flags?
"Much work accomplished"......huh?!
Come on man I've owned stock for 3 years now and still holding, since what I now own is virtually worthless. But I mean to act like this latest PR was a victory or some kind of power play that deserves congratulating you can't be serious.
8 I've read or tried to read and dissect your posts for years. What I always noticed from your posts was a kind of confidence that resonated and would lift my hopes up when I felt things were going awry or seemed off at MXSG. You seemed to always have the answers.
But reading your post today I'm sorry to say, it's quite obvious you were blindsided by this latest PR as well, and that even you seem slightly deflated.
Not buying what you're selling. 100% ownership of a mine is great. But if you don't have the capital to invest in production of said mine, then ownership becomes absolutely worthless.
Replying since my last post "mysteriously" disappeared.
1) Regardless if the contract with MarMar was terminated after the 3/19 PR, do you truly believe or even think that MXSG didn't know it wasn't going to terminate said contract long before 3/19?? Think about it. What single event would've made the light bulb turn on and suddenly say, "They haven't been paying their fare share! Time to terminate!". It just doesn't work like that. You know that. I know that. Even all the diehards who refuse to face reality know that.
MXSG knew long before March and I suspect long before December. They just did.
2) That's the biggest question and mystery of all. What really is going on at Santa Elena? PT stated in December's PR that they were looking for security, and then again repeats the same line in the most recent PR. It's truly baffling and bizarre. Moreover, lets not forget; the reason given for the 8oz pour in February wasn't because MarMar wasn't meeting it's contractual obligations, but rather there were problems with the "chemical process".
How isn't that misleading shareholders at best and straight out lying to us at worse? Go back and read the PR's. It's all right there. And so yes, I'm left wondering the same thing you and most of us are wondering; what is the true status of Santa Elena? 8 where are you?
3) I ask you at this point; is this an important question? Does it change things?
4) You must ask yourself, who at this point would partner up with MXSG? Either the JV w/MarMar was a front as gitreal has suggested, or MarMar saw things that dissuaded them from investing into Santa Elena. Or they simply could've been inept.
Also, it takes a significant amount of time to vet a JV partner. These things don't happen in a few months. Moreover, I highly suspect a quick look at MXSG's financials and unproven production of gold would dissuade most from a partnership. More likely would be a buyout.
Finally, yes we deserve transparency but I have never seen it in all the years I've been invested in this stock. And time is running out fairly quickly. It's quite likely at this point that MXSG is nearing insolvency. Of this I have no doubt. There is no way I can think of that MXSG can raise further funding w/o dilution, unless they liquidate assets. Honestly at this point the smartest move might be to sell off/close the smaller mines and focus on Santa Elena. That's what should've been done in the first place.
Instead MXSG tried to spread it's wings far too soon.
In the end what is your gut telling you? My gut has been unsettled for some months, but this PR puts the nail in the coffin for me. The odds are not good. Management seems out of its depth. And transparency may as well be non-existent. I hope you get the answers to your questions but I seriously doubt it.
This PR was a load of crap. In what world does it take 22 months to figure out your JV partner wasn't meeting its contractual obligations? It took nearly 2 years to figure out they weren't funding the project? Which goes to my other point.
The PR in February was essentially bull crap. In other words the abysmal 8oz pour had nothing to do with "problems" with the leaching process, but everything to do with the fact that the proper equipment and funding wasn't in place. MXSG knew this in February, yet decided to sit on this very important piece of news until mid-April. Seriously? So all the callers out there did any of you know this? Of course you didn't.
Lastly, once again all I got from this newest PR was more delays, near future, and by JUNE 1st the proper equipment will be in place (which if history is an indicator that really means July or August), NOT that they'll be producing gold. And yes, it will be interesting to see where they will pull this non-diluting capital raise from.
So at this rate we'll be producing by 2019 or perhaps 2020? The transparency in this company is and has always been awful. And if it took a company 22 months to figure out there JV wasn't meeting contractual obligations, what the heck does that say about their ability to produce gold?
Healthy word of advice MXSG and PT. Stop worrying about Ures and every other project under the sun and get Santa Elena in order FIRST. Invest in Santa Elena FIRST. Produce at Santa Elena FIRST. Get your house in order FIRST. Clearly the multi-pronged approach isn't working.
Jesus. This was a terrible PR. Only a fool would believe that PT didn't see Mar Mar's incompetency and lack of investment long before February. I'm not sure who will be pleased by this PR except the blinded and faithful. This is so reminiscent of 2017 it hurts.
Where are you getting that number? I tried looking for it but didn't see it.
Thanks T-Hawk. I don't want to see MXSG fail. I've got quite a bit of money invested in it. But sometimes you can't help but wonder what's really going on. I've just become increasingly flippant and skeptical over the last few months. Hard to know what or who to believe at this point.
This response is exactly what I'm talking about goacs. Exactly.
I own shares and while I don't think MXSG is a scam or that PT is a con artist, I've become increasingly concerned that PT and his team may be unable to successfully produce gold (anytime soon).
The problem w/this board is you've got two extremes; those that would die shouting, "Go Mexus!!", up until MXSG declares bankruptcy, or those that do not own stock in the company and for whatever reason get off on the incessant dissemination of dubious claims.
I've followed this company for years. It's main problem has always been transparency. People always tell you to call, but you must ask yourselves, for all those that regularly called or constantly berated others with, "All the information is right there", did they foresee the 8oz failure of a pour coming in February? No.
Shareholders shouldn't have to call, and certainly for those that have called, ,has it boosted or helped their position in any way?
It's good to be critical of a company you're invested in. Too many on here forget that and won't hesitate to berate you should you give the slightest insinuation that sometimes things at MXSG seem amiss.
A year ago most of us were expecting production at Santa Elena. Full scale production I might add. Now people are adjusting their expectations and timelines from months to years. "It takes 20 years for a mining company etc"....cognitive dissonance at it's finest.
Lastly, no one has addressed the elephant in the room. If something were to happen to PT is their a contingency plan in place? Or does the dream and the company go with a CEO who is integral to MXSG's operations. Maybe this Monday we get some news.....personally I don't think so. I've seen this play out with MXSG time and time again. But maybe this Monday I could be wrong. Lots of problems and lots of delays that are becoming increasingly apparent and constantly shrouded in mystery. The problem with the 15 or 20 year plan is that MXSG would be insolvent long before then. Mining operations don't pay for themselves if they can't produce gold.
Okay I'm not going to dig up the posts. You did indeed state March. Not March ending on a weekend, not April 2nd. You said March and went on to tell me the number of days that were left in March, not April.
And yes, you responded to my reply, which is called engaging or engagement. I will leave it at that.
At this point all I hope you're right about is a positive, extensive and transparent PR. Preferably before June but at this point it's anyone's guess.
Please let the record reflect that you stated March and not April. Surely you knew March 31 landed on a Saturday when you engaged me nearly a month ago. But okay so now it's April. Lets see what happens.
So when? What's your timeline JTrox? Badgerbob told me March. Well I'll be waiting patiently for this upcoming Monday. But in your opinion when?
You know I've always had a hard time following your posts. The thing is even your tone/view of MXSG has "evolved" over the years, heck maybe even months. Today you seem to have taken a conciliatory tone that now MXSG is on track for success within the next decade. Your posts didn't always sound like that, hence my reference to moving goal posts.
Honestly I don't know what to believe but after years of hype, false starts, idiotic side ventures, etc, it would be nice to see the "encouraging" news so ever on the horizon translate into the share price. When it boils down to it we want the same things. You must forgive me though, I'm still trying to understand/process how things we went so very south between Nov/Dec and February.
Oh and for the record I'm 33 with no children. If MXSG goes under it's not the death of me. But certainly will serve as a lesson learned. If MXSG succeeds I'll be toasting bubbly and doing my part of the happy dance.
Interesting to see the moving goal post on display. Some of the longs on this board might be dead in 10 years, and certainly in 20. I don't think any of us who invested in this stock invested to see a return nearly a quarter of a century later. So what we wait another 13 years? The stock is at a 2 year low. This is not where any long thought we would be 5 years ago. Yes things happen in mining, but please give me a break w/the 20 year timeline. People don't jump into penny stocks for a 20 year ROI. Give me a break.
And I imagine when that clock is reset you'll be here to report your latest findings......
I'd pray they could produce more than 8oz the second go round so no points on that. Again lets wait and see what happens the next few months. That PR was neither encouraging or pessimistic. Just blah like the last few PR's have been. A bunch of speculation and ambiguity like others have stated.
I'd give them until June, so three months, but I dare say I think you're right.
Ditto. Not to mention we are actually closer to a 2 year low. Anyone spinning this positively........I just don't know. None of this is good news. There has been no good news since December.
What are you looking for it to say in less than a month that would significantly lift the share price and stabilize it? That's what I'm confused about. We know they're having major problems with extracting at Santa Elena. Processing is to resume in the near future, though it's been stated in earlier PR's they would have to go back to the drawing board. Extremely vague, though I certainly understand why they'd want to be overly cautious at this point.
After all they spent the last 4 months building up the certainty that they would be effectively producing and selling at Santa Elena by now. I'm still trying to figure out what went wrong between Dec & Feb; the language of the PR's is so disparate. Again I'm just wondering what you hope to find within a month's time. Seems overly optimistic at this point. It's not that I don't think Mexus can or can't do it. It's just a matter of when. And personally after I've what I've seen within the last year I'm not so sure anymore that it's going to be anytime soon.
Was today's "PR" what you were waiting for? There was nothing to glean from it as such the share price did nothing and will continue to do nothing. Like I said. Keep yourself busy with other things. "Processing in the near future" could be another year for all we know.
Oh. No. I've learned now. No waiting on guidance or "updates".
I just hope to be pleasantly surprised one day. Preferably before July but not holding my breath.
It's always "Monday". Or next Monday or next month. The last PR from February was decent, it just wasn't good news. At all.
It's painful to watch this stock slide to its historical lows. Better to have no expectations at this point. Chilling how quiet the board got this week.
Or April, May, June, July, August, September. We might know something next year too. That sounds so depressingly familiar.
So we are back at 0.2 I see. Just thought I'd do my weekly check in. Now I'll quickly check out. good week to you all.
Why in the world would you keep buying when a PR was just released stating they've managed to sell 8oz of gold and when the CEO uses words like "disappointing". It's like the person who plays the lotto week after week after week.
Look I'm long but there's no way in the world I would keep buying (unless I was wealthy) after that PR. The PR was discomforting to say the least. As far as I'm concerned it's 50/50 if they can actually pull this off. Praying and hoping to god things turn around but I think the constant cheer leading is just as distracting as the constant bad-mouthing by the same people over and over again.
Well at least PT finally released a PR that was actually honest and OPEN. The results so far have been disappointing. Not a good sign but wow, thanks for actually communicating with shareholders w/o us having to pick up a phone.
So well that was that......basically back to the drawing board(sort of) is how I interpreted it? Large scale production could be anybody's guess at this point.
There's no question Mexus has gold, but can they get it out. 8oz....we've got a long way to go before the big payday that's for sure. Well the good news at least I know I don't have to keep my eye on this site everyday anymore.
It could be a few more months to a year before or if we see anything substantial.
Good luck to longs. Looks like more of the same. Waiting.
Like I said last week the inevitable slide after no news Monday. Will continue to slide downwards. My guess hover around 0.03 for awhile again. Well news was exciting for awhile.
Ummm it's been like 8 years. The last mega high was in Nov 2012, and that was because there were expectations there that were never realized. 5 1/12 years is a long time. The last 3-5 years we've been getting teased and blue-balled. You say you're not in a hurry, but I dunno....I'd like to see something show for my investment sometime this decade. I don't think that's asking too much.
And no not surprised there was no PR this week. There are obvious glitches/problems that they haven't been able to address or figure out yet. Which I get, all kinds of issues pop up in mining. But I mean what is PT doing with all these side projects??? Can we focus on gold production first please.
Ditto.
I'm not holding my breath for Monday. My prediction, no SUBSTANTIVE news on Monday and even some of the more optimistic of the bunch will start to turn a tad negative, coupled with a gradual decline in share price.
Come on Mexus!!!!!
Thank you. You said what I was just trying to say. The question is how long does going back to the drawing board take because that's not certainly the the feel that I've gotten from any of the PR's in the last few months. I'm long but just like back in early Nov, I get nervous w/the vagueness that's all. Probably why I don't really check everyday anymore.
All right then. I hear you.
I agree 100% with your assessment. It's clear they're still having trouble producing gold. The question is how significant are the kinks? They hired Garcia in October. It's nearly February. The PR in September made me think production was fairly imminent. Then came the Oct PR regarding Garcia. Patience is a virtue but yes I agree being left in the dark makes one hesitant to buy, therefore the stagnant share price. Crossing fingers everyday and still hopeful.
The Jan. 8 press release was pretty uneventful compared to the 12/18 release. Definitely sounds like they are still trying to work out some things with production. I admit I'd rather see them work on the mines they have rather than branching out into copper. Here we are almost in February and still the same old Mexus song. Vague press releases. I thought surely we would've heard something in January for sure. Still holding and hopeful but come on Mexus!