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For those who have not gone through a R/S previously, just a heads up that most, if not all on line brokerages charge a fee to your account for processing reverse splits. Usually around the $30 - $50 range.
So on top of your 90% losses, you'll get a final kick in the nuts by having the remaining value of your shares eaten up in brokerage fees.
The technicals looked good at the end of 2016 too. Thats nice as far as an opportunity for a short term play, but if the fundamentals of the company end up not supporting the hunch then we'll end up back where we are currently, or lower.
Technicals aren't proof of actual business results.
The initial material being leached is existing shear zone lower grade material averaging 1.8 g/t gold and 8 g/t silver. This material was mined while the Julio vein was being drilled and prepped for blasting. (Julio vein ore material is averaging 4 g/t gold and 12 g/t silver).
What is current OS vs AS?
Wondering if the timing of the R/S is due to running low on available shares to sell.
It's a huge red flag when posters pumping a company start saying "we have the answers but you have to do your own DD".
Generally when people have proven facts that can help boost the company (and share price) they don't keep it under wraps as it is counterproductive to the reason they own those shares - to make money.
It's absolutely fine if you have enough information you feel comfortable to invest, but let's be honest that it's not based on provelable facts. It's based on trust that you are getting accurate information from an entity (PT) that does not have a history of providing complete and accurate information and instead shares optimistic hopes that haven't panned out.
You may be fine with that source. I, for one, don't consider that a reliable or factual source that can be used to make sound investment decisions.
If provable facts were prevalent at Mexus, gitreal would be out of a job on this board. Instead, unsubstantiated claims are frequently made by those "in the know" and then treated by others as Gospel.
When someone comes by and pokes holes in those claims instead of shutting them down with facts, the person is accused of being a hater and someone who will never be satisfied because they keep moving the goalposts.
If you've got the facts lets hear them.
Positive drill results? Nope
Accurate (accredited) measurement of gold and silver deposits? Nope
Gold production? Nope
History of previous gold production? Nope
Gold sales? Nope (There was talk of 8+ oz of gold sold but never any income shown on the financials)
Why is this time the bottom on the 9th and not the last 2 times? If this doesn't work Paul isn't going to fold up shop and walk away.
He'll just move on to the next project to keep hopes alive.
I agree the commentry is getting old but so is the business operation failures and diversions.
Mexus has rich mineral values, bonanza grade ores, and in the same trend lines as very profitable neighbors
Duplicate post.
Wherever you're getting your info, its wrong.
This company did not make a profit and OS is soaring.
The company is in trouble. It's not 15 ihub posters and a couple of hit piece journalists bringing this down. The conspiracy theory excuse is just plain laughable.
By the end of the month Jamestown will have over $10 million in unpaid liabilities and no Medicare reimbursements coming in.
Those first-hand boots on the ground gave inaccurate information before (even if it wasn't always intentional). Not going to fall for it again.
PRs also don't count as facts. To be fact it must be proven and verifiable and/or included in a 10k, 10q or 8k.
The rest is noise.
Its really simple folks. As long as the company is still hemorrhaging cash the R/S will happen.
Negative IHub posters aren't the cause of RNVA's problems.
No money can be made by buying in at this point.
Perhaps you can explain very simple fact that Lemas and Garcia were hired by Mexus, not MarMar. If MarMar had complete say as mine operator why were Lemas and Garcia needed?
By the way, how exactly are these notes getting paid off? There's no revenue coming in so it has to be by other debt financing.
And if the toxic loans are getting paid off by debt that is on better terms why wasn't that funding source used first?
You do realize those results are not good. Only 2 out of 9 holes show gold levels above .9 g/t.
Those two holes are less than 8 g/t of Au. Which, by the way, the World Gold Council sets the definition of "high grade" at 8 g/t or above.
Mexus does not have high grade levels according to the published drill results. Anything from 1 - 4 g/t is considered low grade. 75% of Mexus drill holes are considered below low grade.
This was more than an overight on a bill. There would have been several warnings and disconnect notices. For them to pull the meter you would need to be multiple months behind.
The PR states material drilled has been sampled and averaging 4 grams per ton of gold?! Not sure how this can be accurate when a 3rd party assay based off a drilling prgram done in December measured 4 of the 5 drill holes with less than 1 gram per ton (some only being graded as "detectable" amounts of gold). The 5th drill hole showed a little over 6 grams per ton.
Either some one is really bad at math and averaging or somebody is fudging their gold amounts.
To be clear, my contention isn't whether or not there are for profit or not for profit hospitals - both types exist.
My contention is that not-for-profit hospitals are also expected to operate with positive net income.
I have a lot of experience in health care administration. This is an industry I am quite familiar with.
most hospitals will run with little to no profit and most are not for profit anyways...
Did you research Mexican courts or only U.S. courts?
I can appreciate the overall sentiment and vote of confidence you have in this project. It certainly sounds like you have put your money where your mouth is. That is commendable.
The issue I have with the logic in your post is that one can not promote Mexus as a different/unique approach in creating a mine yet still abide by common mining timetables. For example not wasting time and resources on prospecting and exploration and going straight to development/production because (arguably) a provable resource already exist.
When looking at the 10-20 years to develop a mine the exploration stage usually take 2-8yrs. The development takes 4- 12 years.
If Mexus wants to promote it's ability to forego exploration, then it should also forego 2-8 years of the 10-20 year start up time.
In other words the mine should be up and running in 8-10 years. This shindig started in 2010. The time.to "produce" is now.
For what it's worth, I consider the term "production" to mean you've created a sellable product. Mexus is still figuring out the leaching process which is typically considered part of the development stage.
I'm sure there are general boards for that. Specific to this bord you stated a PR released on Monday wasn't to pump the stock but was necessary to keep investors informed. I was countering your argument.
PRs are primarily used by companies to be a promotional entity. That was, in my opinion, the main reason for the PR Mexus put out on Monday. Not for the noble reason of informing investors for just information's sake.
So tell me this, why are forward looking PRs only done for positive news and not for possible issues? Negative news is only shared after the fact.
That's not unique to Mexus and is a pretty typical way of doing business. I'm also not suggesting Mexus is doing anything wrong or should report every potential bad thing.
Just pointing out that the primary use of a PR is to promote - not keep investors informed. If it was about keeping investors informed, potential problems would be shared in the same manner as potential positives.
So by acknowledging PRs are typically not released when things don't get completed (or joint ventures have gone south) you agree PRs primary purpose are to pump a stock? Keeping investors informed is secondary.
Do you suppose the company will be as thoughtful in keeping investors updated when "production" doesn't yield any sellable gold?
Those companies don't dilute R/S, then dilute again as a way to keep their cash flow going.
What FINS are you looking at? There is no profit. I don't see this company turning a profit anytime soon. Revenue is not profit.
The CEO has said the R/S is necessary. He mentioned this in an interview shortly after the last R/S. To invest at this point with the hope that the R/S might be cancelled is wishfull thinking and naive. It is an extremely risky gamble to buy hoping the R/S will be cancelled.
I'm not saying there won't be an opportunity to make money here. But that opportunity is not present yet.
Whatcha call them that withhold essential information about operations and and present stories that they know have no chance of succeeding?
Mexus calls them CEO.
Glad we can find middle ground to agree on but I want to be clear on definitions. The two key words are consistent and verifiable. Meaning a company PR bragging about being in production won't cut it. It needs to show up on the company financials in a 10q or 10k or some other independent 3rd party verification source.
This company has claimed production multiple times before but never showed any revenue from production. I believe a lot of investors will hold back until that hard proof is demonstrated.
This same holds true on both sides. No matter what you or all your buds say about the company, repeating the same production is immanent, and bait and switch schemes ad nauseam doesn't matter one iota to share price.
We can agree that consistent, verifiable production is all the matters.
Price hasn't "dipped for one day". Price has been in the toilet for over a year.
Its starting to show some life. That begs the question, is it a legitimate sign of progress from the company or by-product of a ramped up corporqte hype machine? Time will tell, but at this time my opinion is it is more the latter reason.
It's no more odd than inferring there's money to be made on this stock for the last 9 months.
We're going to have to agree to disagree. Investor trust (except for a small devout group) is low after being misled multiple times over the last 3 years. Optomistic PRs with "imminent production" promises and pretty pictures of gold nuggets lying on the ground won't bump share price like it did 3+ years ago.
It's going to take verifiable results.
Not to mention the number of outstanding shares since the last time it hit .60 has increased 10 fold.
All is not as it was before. You left out that outstanding shares are now at 1 Billion or more and the company has less than favoravlble loans outstanding.
Assuming a P/E of 20x (current S&P avg P/E is 15x) and gold price of $1,400oz you'd need a earnings per share of $0.04 to get a $0.60 share price.
With 1 billion outstanding shares that means you'd need $3.3 million per month ($40 million annual) in profit. Assume a ridiculous $300 per oz cost to mine and you'd need to produce a minimum of 2700 oz per month to get 3.3 million profit.
Drill results show, at best, 6.5 g/t of gold amounts. The means 15000 tons per month need to be processed to reach 2700 oz and get .60 share price.
This doesn't even factor a JV who may take a 50% cut or more. Even with extremely favorable assumptions it is difficult to find a plausible scenario where Mexus reaches .60 oz.
There are a few folks around these parts that have been known to "Paint the Tape".
That would be my assumption of what happened.
Revenue is not profit.
50 million revenue means nothing if there are 75 million in expenses. All 3 hospitals are operating with a loss. The company has to borrow or sell shares in order to cover the losses.
The 1:10,000 R/S is still on the table.
Does anyone know the current number of outstanding shares?
A R/S doesn't help anything unless you can sell more shares. And it requires shareholder approval. I dont see any reason the oracle would be willing to give up his shares and risk losing controlling interest of the company?
Where is this reverse split talk coming from?
I'm not sure about that. The timing coincided with supposed gold production in Dec. 2017. Security was to have boots on the ground before the end of 2017.
Besides Mexus has very little equipment. Mar Mar was supposedly providing all of that.
Mexus boasted about production of 8.2 ounces (or maybe it was 8.5 ounces of gold?) Yet, never counted it as revenue.