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Jim,
Is the breaking the sub .05 price point the trigger that has you thinking a move is about to breakout (assuming we don't see/hear of some tangible progress?)
Actually my concern would be if they have to start over, again, with the leaching/recovery process that production isn't "imminent" as promised. A 40% recover at least establishes proof of concept. Restarting the leaching/recovery process signals an increased possibility that production may not ever happen.
When you throw around words like "imminent" and then walk it back and say, these things take time, credibility takes a hit. When I first jumped in shortly after Mar Mar got involved this company was hitting it's targets and even ahead on some dates. The last 12-14 months has been more hype than results.
PT's credibility is slowly fading in my eyes. And to be clear, its not because of the length of time it's taken. If the PR's had indicated this process would take 6-12 months I wouldn't have any issue. Its because the company has tried to convey production is close and imminent when they knew that may not be the case. That creates doubt about credibility in my mind.
I'm trying to stay positive, but it's getting difficult.
Amadeus,
I agree with your assessment we are in a "show-me" state and what it will take to for shareholders to get out of that mindset.
One thing to point out, however, was that the market cap was approximately the same in 2012 at .60 as it was in 2016 at .23 because the increase in outstanding shares.
In my opinion, the most recent lackadaisical "jump" to .09 is the primary indication that this stock is in wait and see mode.
Don't give up. Other people are listening.
I appreciate the advice.
First, I'm not sure what "Win the battle only to lose the war...sad" even means.
Second, I'm not trying to be difficult. I understand it can be hard to decide who's on this board to troll and who is legitimately trying to have a genuine conversation.
Third, I'm baffled with the cloak and dagger charades with "due diligence". Most folks on these boards already have their share allotment bought. If folks here truly want the stock price to go up we need other investors to come in and buy. The "I have a secret" game only helps to keep price suppressed.
Finally, if you don't know the answer, then a simple "I don't know" or "That information is not published would suffice".
Back to my main point, Can anyone tell me how much Mexus owes Mar Mar or at least point me to where I can find it? For most companies this information is included in the financial balance sheet (under assets and liabilities). I have not found that particular liability to be listed. Its possible it is listed in there and I'm missing it. But I don't think that is the case.
I know where it should be listed, however Mexus' liabilities sheet seems to be a bit light.
But thanks for proving my point.
There's also quite a few here that when posed with a legitimate question, are only able to respond with "I've done my due diligence" but seem content to take that information with them to their grave.
Both sides are equally unhelpful.
While there are plenty of positive things to point to there are still many questions and uncertainties that need resolved. Share price certainly reflects most investors feel we are not out of the woods.
Personally, I understand the rationale for not disclosing the pour amounts at this point, but I would like to know what kind of tab we've run up with Mar Mar.
First, I do appreciate the update. There were questions as to the whereabouts of the new MC. This settles those concerns.
Second, there is nothing in the PR that will command a significant price jump. Our situation is not significantly different than it was last week (i.e. no production yet.)
I'm troubled by the statement about waiting until the pregnant solution is 4 grams per ton. Previous PR's gave the impression we were already significantly above that mark. It's these types of conflicting statements that cause me to cast doubt on what is really going on.
My prediction, we don't see any announcement of a gold pour before New Years.
Regardless, enjoy your Holiday's folks.
Three issues still stick out to me.
First is the EW. At one time this was seen as the answer and as the MC was getting "tuned in" the MC would run in parallel to EW. Now, not only the MC is not operational but EW isn't a feasible option either because it collects too much silver?
Second, I have still not seen any clear explanations of this 50/50 deal with MarMar. Who's paying for what? If MarMar is responsible for the recovery why is the purchase, building and implementation of the MC on Mexus? Why is a private placement needed to cover MC cost? Shouldn't that be on MarMar's dime?
Third, If San Felix was already a producing mine (with gold still in the filters from when it was shut down previously) why is it not up and running? I understand it wasn't exactly turn key because things sat for a while, but are we even close to being on-line?
We know MXSG did not make payment when originally due because they did not have the cash on hand to cover that large of an amount per their 10-K
So the options are;
1) Non-payment or
2. Restructured payment agreement.
Either one should necessitate a material event and requires a filing.
Additionally we were not told a long time ago that an agreement was made. The company has made no statement regarding payment/non-payment of San Felix.
Would someone explain how NITE and/or VNDM are manipulating today's market? I (kind of) understand the potential games they were playing with stock price when volume was low, but at 4.6 million volume how can they successfully suppress price and how many shares must they own in order to do this?
Not being lazy, I'd be happy to do the DD on this. Just let me know in what public document I can find how much Mexus owes MarMar.
And, a phone call with the CEO is nice, but is not something one should invest on. From what everyone has said PT is a very trustworthy guy, I have no reason to dispute that, however, anyone who invest money solely on the word of another man, won't have money for very long.
I've already bought what I'm going to buy. I'm trying to decide how likely it is this thing will go up or if I need to cut (at lest some of) my loses now.
Honestly the more DD I do, the more questions I have and the less enamored I become with this company.
I'll start off saying Mexus is a speculation play right now. I have no delusions that this is a company ready nor currently targeting institutional investors. However, the long-term goal is to get there and I don't think we see $1.00 PPS without those investors.
While not a hindrance to bumping the short-term PPS, the running tab Mexus is accruing with MarMar will be a major detail institutional investors will demand specifics on before investing. Additionally, production cost per ounce will have to be disclosed (with some kind of supporting documentation - not verbal assurances).
This is one of my issues with folks claiming they do so much DD, touting Mexus has low debt, and assuring everyone their DD tells them all is well. It may very well be debt is low and cost per ounce is minuscule. But no one seems to know how much we are into with MarMar or production cost per ounce.
While MarMar is a private business and doesn't have to concern itself about disclosing this information, Mexus will have to produce an answer to these questions. Perhaps it doesn't require an 8-k, but these details matter to PPS.
Even if Mar Mar is footing the bill (for now) our half of the expenses (what is owed to Mar Mar) still need to be reflected on Mexus' balance sheet as a liability.
Mexus can't hide its liabilities behind the cloak of Mar Mar.
Just because someone is an optimist or pessimist does not make them a smart investor nor a get rich quick investor.
I hear posters saying if people did their due diligence they would see this company’s share price is going to take off and only uneducated/ignorant people who haven’t done their DD would sell at this point. All I’m asking is what DD are people doing that isn’t based on either a.) promises/PR’s by the company; b) company business filings; or c) heresy from message board investors or other second hand sources.
Some have been to the mine to see things with their own eyes. Those folks are obviously in the best position to determine if the company is close to producing.
I originally bought shares in the company last summer after reviewing company financials – which revealed low debt for a start-up mine, Company reports of a new joint venture that had yielded positive results in a short period of time, and a history of PRs from the company stating targeted deadline, then meeting those deadlines or at least hitting them with minimal delay.
Somewhere around November the company started to over promise and under deliver on those deadlines (This, in my opinion, has created the impatience in people). Now I have concerns about the low debt since the costs of what is owed to MarMar for start-up production has not been declared and somehow we paid a $250,000 note due on San Felix but company financials showed we have less than $250,000 cash and no revenue. Wise investors look for those discrepancies - try to identify the reason behind them and determine if those issues are likely to be overcome or corrected.
Getting to production (i.e. a final, sellable product) has been an issue. Is some of it normal start-up issues? It’s likely. Delays are inevitable. Accurate communication that is consistent with previous statements helps calm these concerns. Something I don’t feel like we’ve been given lately.
This company could still go either direction. I still think the odds are in favor of it going up and possibly going up big, but this is far from a slam dunk based on any DD I can get my hands on. If someone has other concrete data to refute these concerns and assure the company’s success I’d like to see it.
Nope.... never said I had been there. Only said those that have been can know for sure what is going on.
My point was to counter 8 who is trying to pretend that the company has only portrayed itself as being in production for 128 days and that we are fools for thinking it's been a year.
The company has been portraying itself as in production or will be in production very soon for the last 9 months.
Perhaps this will help your short memory recall;
First leaching supposedly started March 9th.
From March 13, 2017 PR;
"CARSON CITY, Nev., March 13th, 2017 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that from March 9th to March 13th, CEO Paul Thompson hosted Mexus advisor Paul Dent at the Santa Elena Mine in Caborca, Mexico. During their visit both Paul’s were able to observe leaching solution returning to the pregnant solution pond. "
However, the company did it's best to infer it would happen earlier than that.
From Jan 17, 2017 PR
“This is truly an exciting time for Mexus. The San Felix is a historical property in Mexico that was mined by the Spaniards in the 1600’s. In approximately 6-9 months we will have 2 fully operational mines in the Santa Elena and the San Felix,” added Mexus CEO Paul Thompson."
or this one from the Dec. 19, 2016 PR
"CEO/ President Paul Thompson visited the Santa Elena mine in Sonora State Mexico from December 13th through the 17th. Mr. Thompson reports that the Merrill Crowe is being installed and will be operational in January 2017."
Neither one of the last 2 PRs gave the impression production/pour was still 8 plus months away from occuring.
I'm curious about all this due diligence everyone supposedly does that puts them at ease. If you haven't been to the mine to see things with your own two eyes your DD is limited to verbal promises and speculation from the CEO or investor relations or heresy from internet articles and message board posters.
There is nothing in the PRs or other company documents (quarterly and annual reports etc.) that can be used to prove gold is being pulled from the ground successfully.
I can say I've done all this DD, but at the end of the day I don't know if there is gold being mined or not. All I know is information relayed by the CEO, Company document filed with the SEC and message board rumors. None of it proves gold is being mined or that it is in any better place to produce gold than many other small start-up miner.
At this point the "weak hands" are already gone. They were flushed out on the ride from $.12 to $.05.
Day traders are the likely culprit of current trends.
Thanks, Dino. Much appreciated.
I still think we are at least 30 - 60 days out from a pour announcement, but would appreciate your opinion/rationale as well.
Hmmm... this report creates more questions than answers.
Is the excess clay due to torrential rains or just general earth conditions?
If it was caused by torrential rains, why run it all through the Merrill Crowe? Why not remove the clay (at least the heavily contaminated clay areas) before processing in the Merrill Crowe?
With so much clay run-off allegedly contaminating the pads, how are the assay numbers (grams per ton) affected?
The report gives the impression that operations didn't really start until last week of July. The PR's made have given the impression, leaching has been going on for some time, we just needed to find the right chemistry balance to smelt for optimal recovery. Now there is mention of 32 kg of "irregular precipitation". Is this on top of the other reported zinc-filled sludge?
My amateur take.... we are still at least 30-60 days from smelting. Additionally, I don't think we have a grasp of how many grams per ton we will successfully be able to recover and turn into sellable gold.
I'm glad to hear the payment will be taken care of for San Felix. I was legitimately worried about this.
When you say "We're assured the JV will make that $500K payment due next Sunday" are we to infer MarMar will front the payment until a pour is completed or that we will have a large enough gold pour completed in time for Mexus to make the payment out of their share?
On the April 22nd PR announcing the first smelting of precipitate, PT said “This test run went well resulting in a small amount of dore. The crew will be fine tuning the temperature of the furnace, adjusting the flux mixture, and installing a more precise weighing system. These are normal steps for a start-up and won’t take long to perfect...."
That was 3 months ago. "Imminent" is subjective.
And to raise $500,000 at current share price adds another approximate 10 million shares to the float. In other words, your "profits" are reduced by 1.5%. Not an inconsequential amount.
Not trying to be a tough crowd. It's part impatience and part feeling like we keep getting 1/2 truths. I appreciate those that can keep a more upbeat tone, helps me keep my feelings in check. We relly are on the same team (i.e. vested in Mexus success) However...
What news in yesterday's announcement had a consequential impact on the operations?
Water rights? While that is a positive and makes things easier, shareholders were essentially told previously this was a non-issue. MarMar was allegedly able to work around this issue with water trucks. This news has minimal to no impact on operational results.
Merrill Crowe - Running gold through it has been put on hold. Still being calibrated - No change in last 8 weeks.
Cesar's assay lab is still showing the same 1 - 1.5 oz per ton for heap leach. -No Change from previous news. He then made a speculative guess on the pregnant pond amounts, but that is only speculation.
The Jan 17, 2017 press release announcing the aquisition of San Felix states,
"“This is truly an exciting time for Mexus. The San Felix is a historical property in Mexico that was mined by the Spaniards in the 1600’s. In approximately 6-9 months we will have 2 fully operational mines in the Santa Elena and the San Felix,”.
I get it's "approximately" but we are at the 6-9 month mark and neither mine is in production.
I stand by my view this press release demonstrated no tangible progress to Mexus' bottom line. We are in the same spot we were 8 weeks ago.
As for PT having the August note paid for... the last quarterly statement did not show enough cash for the payment and there has been no pour announced. If they were able to make payment the only way I see it could have been done was through dilution.
Frustrating press release....
Again it contains nothing that is going to move the needle as far as share price.
Got to admit, even though I swore I wouldn't buy into what The Riddler says anymore he got me again. So much for "We can be assured this PR will be the most important ever for Mexus or should not be made until it will be." or "...Mexus did NOT do a planned PR on 24th due to soon better news? 31st probably..."
At this rate if they get a pour completed in time to make a payment for San Felix I would be amazed. Not sure what happens if they don't have a pour by then. More share dilution?
Speaking of San Felix, has there been any progress in restarting the mine operations? We were suppose to have two fully operational mines by end of September at the latest.
Volume is essential in a bullish falling wedge. Has there been a big enough uptick in volume to support a breakout?
The PR wasn't "great news" or "crappy". It was a bit of a nothingburger. There was nothing msasurable or objective stated. Only superfluous statements of perfecting the pour process and increasing the cyanide flow. Nether of which tell us where they are currently.
PVG has proven bonanza grade reserves that meet Sec 7 standards. Thats why it's $12.00 per share. With proven reserves detailed poor results are not as critical.
Not an apples to apples comparison to MXSG.
For those saying it's going to double or triple on the announcement of an official pour, how are you coming up with that number and timeline?
At 10K ton per day we might triple our current price but even at that production rate the 1 gram per ton has to hold up.
In my opinion we see .12 - .15 through at least the end of October. Then, if we reach 10k ton and the 1 gram per ton and/or San Felix gets producing we break through our 52 week high.
This stock has to base at .12 - .15 before we go higher.
Speaking of San Felix, we need to get some gold sold because we have a payment coming due soon.
Of course all of the tonnage information you shared has been documented and disseminated by Mexus for public view for ALL investors to access right?
After all yesterday's PR did say "I would also like to add that our investors need to focus on our press releases for a source of information. Anything else is speculation or has been extrapolated from conversations I may have had.” added CEO Paul Thompson."
If this hasn't been publicly posted by the company then it is heresy. And the stock price ain't going nowhere on heresy.
There is nothing in this PR that will bring new/more investors to the table. It’s not bad news, but there isn’t anything here to celebrate yet either.
The PR’s are conflicting and lacking the detail needed to bring non-speculative investors to the table. (Mostly because the company doesn't know those details yet.)
Are we a producing mine or aren’t we?
On 4/17 a company PR stated “ (“Mexus” or the “Company”) confirmed that it is producing gold at its Santa Elena mine.” Today – “(“Mexus” or the “Company”) announced that progress at the Santa Elena mine continues towards the goal of becoming a producing mine.”
Are we smelting or not?
PR from 4/24 - first smelting or precipitate. “The crew will be fine tuning the temperature of the furnace, adjusting the flux mixture, and installing a more precise weighing system. These are normal steps for a start-up and won’t take long to perfect.” (No concerns of zinc mentioned) “Regino Vargas, site manager at the Santa Elena mine, stated he was happy with the first smelting results and confirmed prior statements that a 1 gram per ton average on pad 1 is likely.”
On 5/1 the company reported the Santa Elana mine has been producing gold since early April and performed its first smelting of dore on April 22. (No concerns of zinc levels were mentioned at this time)
On 5/15 we are told by PR there is 250 lbs of precipitate in storage ready to smelt. Proper flux mix was being worked out for maximum results. “It is expected that smelting will begin in earnest the week of May 15th.” (Again no concerns of Zinc levels mentioned).
Today we are told “Attempts to smelt this material have proved difficult and costly. It has been decided that this material will be added to future material thus diluting the overall zinc.”
Bottom Line for attracting new investors: We can not provide them with tangible (provable) amounts of gold or silver smelted and due to smelting issues we can’t prove how much actual gold and silver per ton we will be able to produce. Without those numbers it is impossible to demonstrate profitability.
Without being able to demonstrate profitability our share price will continue on its same path.
Not saying the company sucks or is a pump and dump. Just stating that current details have not given sufficient reason to convince new investors to buy.
Was there something said on a different board by this person that caused today's panic? He hasn't been around this board for a couple of days.
I would agree with that to a point. In my opinion after all of those who jumped on the momentum bandwagon late September and drove it up to .20 lost patience and dropped out we should have still baselined at the .08 range.
Sub .06 isn't caused by those people getting impatient. They were likely gone at by .10. My Spidey senses tell me there is something else at play here. I'm not sure what, but it is more than a couple of guys walking down the price.
I've got to admit I'm starting to get concerned. We're getting dangerously close to our 52 week low. Even with a few guys playing games with price we shouldn't be testing our 52 week low.
Do others know something we don't?
Still, how does that happen? Someone putting in a buy at .69 would have to buy through all the .07 - .25 sells before they get .69. 2nd level still shows several asks stacked up well below .69.
It’s starting to become pretty obvious that VNDM, NITE,, CSTI & CDEL are all the same person. No way all 4 of them "coincidentally" drop their ask and buy by .01 at the same time.
Going to be an interesting day.
I get the frustration at the VNDM seller. I understand why it would be nice to buy through the shares that seller keeps putting up. However...
As a buyer I would not up my buy just to burn through someone's shares faster unless there was some reason of urgency (i.e. demand). I get that it's "only" $20, but $20 buys 250 more shares. At an .08 per share price, .001 is 1.25%. A patient buyer waiting for VNDM (or another seller) to come down on price .002 - .005 per share could buy an additional 2.5 - 6.25% more shares than at the .08 price.
I look at it this way, if I could squeeze an additional 1% - 6% profit on an investment I would do it.
Question for you more savvy traders.
Looking at Level 2 data - Why would someone be a buyer at .076 and a seller at .083? Even at 100,000 shares that's only a $700 difference. Is that a common day trader strategy?