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One last point. Thompson's compensation package was proposed, drafted and implemented by the Board of Directors and we all know who they [he] are don't we.
Oh and don't forget the HUGE General and Administrative expenses [unexplained] PT's slush fund
Too funny.
While he has 49 years experience in the mining industry he was also 'involved' in other pursuits.
Paul was president of Paul D Thompson Inc, a fire truck, water tank, and pump manufacturing company for 40 years and the holder of several patents.
He's just a man for all seasons. LMAO
But, but his creds say he has 49 years involved in "the mining industry".
Not quite sure what that means..... he moved dirt, he was a welder, equipment operator, lots of different kinds of "involvement". The one sure thing is that he didn't learn a damned thing about mining.
Regardless, his "expertise" or lack thereof certainly doesn't call for an annual income of over 6 figures. His talent lies in spending OPM.
On July 2, 2015, the Company entered into a compensation agreement with Paul D. Thompson, the sole director and officer of the Company. Mr. Thompson is compensated $15,000 per month and has the option to take payment in Company stock valued at an average of 5 days closing price, cash payments or deferred payment in stock or cash. In addition, Mr. Thompson is due 2,000,000 shares of common stock at the end of each fiscal quarter.
CEO Thompson's incentive for perpetuating the Mexus myth. Not too shabby eh ?
'Unfortunately, they found a lot of unknowledgeable and uneducated investors they were able to fool with that impossible story.'
Ah there's the rub. So many people based their belief in Mexus upon the word of someone who established himself as an expert investor as well as a mining expert.
Maybe the initial thought was to extract enough gold by scraping off the top soil that it would attract the interest of large mining concerns.
Personally I would subscribe to the theory that it was a planned ruse.
MXSG rapidly approaching 30 million dollars down the old proverbial p**p chute.
Chump change (raised from chumps)
Mexus completed its first test of the VAT leaching system and the Merrill Crowe gold recovery plant at the 8 brothers/370 mine project. The successful test produced 70 pounds of precipitate which is currently being dried and prepared for smelting. Results of this first run will be released soon. The material initially mined took longer to leach than expected. Mexus geologist, Cesar Lemas, has identified new material (KRYPTONITE) which has been column tested showing a 48 to 72 hour leach time. The company will mine and use this material going forward to accelerate recovery times.
And the results were, no results. Dem stones, dem stones gotta bake dem stones
Polymetallic massive sulphides have contents of gold and silver but most of it is encapsulated within the sulphide mineral as gold-arsenate sulphide and silver-lead sulphide. These sulphides are difficult to extract by simple gravity and/or cyanide leaching unless they are pretreated via roasting
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142333130
Lemas, Lemas he's our man, if he can't do it no one can.
The MXSG six month chart looks like a Super G ski event with a couple of moguls thrown in
https://business.financialpost.com/personal-finance/guiding-cliches-of-investing
Never try and catch a falling knife.
Accept that losses are part of the investment experience. The biggest problem is not incurring losses. Rather, it’s holding losses too long.
Cut your losses swiftly and decisively. Don’t expect to make the right decision every time.
Emotional attachment to stocks is a downfall of many investors. Learning to be patient and logical is a difficult virtue.
Wise investors can change course quickly when the time comes. Remaining objective and void of biases.
Bad news on a stock is often not a one-time event. More usually follows soon after. If the news troubles you, sell your stock.
The myth of averaging down as a stock plummets....
Think this may apply to MXSG ?
https://www.investors.com/how-to-invest/investors-corner/averaging-down-is-a-weak-strategy/
A.K.A. the Mexus booby trap !
How many ounces must MXSG recover and sell to justify an expenditure of 28,800,000 USD
Approx 26,600 oz at today's gold price to break even. They have fallen a bit short of that figure thus
far. But not to worry, Lemas says there is potentially up to 500,00 oz. in the dirt he's playing with now.
How does he arrive at this phenomenal figure you ask. It's a very scientific calculation based upon the
movement of celestial bodies and the amount of mescal he has consumed that day.
I refer you to post 26153
Mexus provides company update Press Release 07/20/2018
There is no mention of a future pour.
The current Mexus Gold U.S. scene ..... waiting for the next (empty) shoe to drop !
Whenever I think of MXSG, my mind wanders back to a post that was a rallying cry for Mexus. Instead, it was a message steeped in unimaginable hubris based upon a total lack of knowledge of what was actually happening at the hobby site.
It began with a statement that was both arrogant and ill conceived and it didn't improve as is continued. Further on there was a comparison of "The Little Engine That Could" with the efforts of Mexus. Turns out, Mexus was The Little Engine That Spun It's Wheels and Couldn't.
Post # 22837 (in part)
"Being an informed investor in the building of a prosperous mining business requires enormous amounts of understanding/investigative knowledge of precious metal properties"
They don't "evaluate" and that's what makes them "hobbyists". The operations that MXSG conducts is scraping off the top soil which is a far cry from what REAL gold operations do. Real gold mines in Mexico > you know, the ones that actually make money < are open pit and very DEEP open pit at that.
That was at 8 Brothers and that was a bust....as your post pointed out a couple of weeks ago. They didn't commit to doing a test run at 370. As I recall, Lemas was "evaluating" the conditions.
gitreal Friday, 07/20/18 03:08:45 PM
Post # 26168
Quote:
CABORCA, Mexico, July 20, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) released an amendment to today’s press release. The company wants to make it clear that the ore at the 8 Brothers and the 370 differ in composition. The company is analyzing the material at the 370 which does not require roasting. This ore will be used moving forward. Mr. Lemas’ comments on the 8 Brothers ore was a general comment about what would be needed to process the 8 Brothers material. The 370 porphyry runs all the way to the 8 Brothers pit and is the focus of Mr. Lemas’ work now.
Remember, it was determined that the rubble at 8 Brothers had to be baked, broiled or fried after it was marinaded
There IS a Santa Elena mine in Mexico that produces gold and silver. It just doesn't belong to MXSG.
https://www.mining-technology.com/projects/santa-elena-sonora/
It looks as though some people bought below .01 believing there will be a large spike if MXSG announces a JV agreement and/or spectacular results from the latest grande experimento.
Would it be accurate to call this the long anticipated dump ? Sure does look ominous.
Whooops, another splendiferous opening for this spectacular performer. Is this the week that MXSG dips and stays below a penny ?
I wonder how the hobbyist made out seeking an infusion of new funds and/or a new JV. I guess we'll find out......eventually.
An eye opener.
Take a look at the General and Administrative expenses for Fresnillo for last year.
Quite a difference between a legitimate concern and a scam.
Fresnillo is always looking for new properties
FRESNILLO PLC IS THE WORLD’S
LEADING SILVER PRODUCER AND
ONE OF MEXICO’S LARGEST GOLD
PRODUCERS.
http://www.fresnilloplc.com/media/367009/FRES-28347-AR2017-WEB.pdf
Operating in the same general vicinity as MXSG
Better things such as look for a potential JV partner that isn't familiar with MXSG's past failures and its' lack of worthwhile property ?
Who wouldn't want to throw in with an operation that is virtually bankrupt and lacks the ability to extract gold ?
Why wouldn't nearby mining concerns be interested in expanding their operations if Thompson's claims were seen to be potentially profitable ?
The surprising thing is that Mexus has survived as long as it has. It has been evident for a very long time that it continues by appealing to those who hold out hope that "next time" will be the answer to all problems...that it's just the process of "developing" a multi million dollar mining operation.
The gullibility factor is enormous.
If Mexus was attempting to sell a product other than gold....let's say widgets or maybe a drug to cure toe nail fungus, it would have folded long ago due to non performance. But the very word GOLD results in some sort of mental instability that would not normally be present.
Fascinating!
Please include the Scam O Meter MXSG evaluation that has long been missing from the I-box.
I thought that was the antenna for the MXSG magnetometer or ground penetrating radar.
"This is definitely one more issue the SEC should examine regarding Mexus' massive compliance failures."
Compiling MXSG violation issues is a full time job. Where is the SEC and are they investigating MXSG and its' many egregious deceits ?
In the interim, it appears that investor interest has flagged to the point that a 10,000 share trading day (or less) may soon become the norm. How long can this Mexican can of worms survive ?
http://photobucket.com/mexuscaborca?albumview=slideshow&track=share_email_album_view_click
Happier days at Caborca for the hobbyists. Note the sophisticated detection equipment used to detect the size and richness of the lode.
The fellow in the purple size XXXXX shirt is the guru.
Is it any wonder Mexus spent 23+ million dollars developing the El Dorado of the south ?
There must be a parallel between billing practices of an "entrepreneur" and the gold that should have gone to Mexus but the parallel eludes me. I think what we have here is failure to communicate, Luke.
I don't remember there being any reference as to when the Mexus and MarMar ended their relationship. If the joint venture ended because of non performance then one or the other party may have felt agreements were abrogated. Who knows what was included in a formal, legal contract ? So MarMar may have felt justified in withholding whatever gold was recovered.
That, like so many other things Mexus is a riddle, wrapped in a mystery, inside an enigma. Somehow I doubt an answer will ever be found !
If friday's trading is any indication, this may be the week that MXSG goes sub penny.
It's understandable why Mexus maintains its' silence for protracted periods of time. They shoot themselves in the foot each time they release A PR. Can't maintain the price in the face of interminably bad news.
How is it that Lemas, DOO at Elena, didn't know what was going on there...... or did he ? Maybe a collaborative effort (or lack of effort by both MarMar and Lemas.
All of the metallurgists, analysts, geologists, mining experts STILL cannot produce meaningful results. Why is that ? Maybe the claims there just aren't worth diddly squat or, no one knows how to extract what little there is there economically.
Mexus was up to $3,152,000/oz. How many thousands of ounces recovered would it take to make this a worthwhile effort ?
Uh, I think they did that already Robert.
The results were.......... no results.
But don't worry, Cesar Lemas who was DOO at Elena is on the ball. He has identified new material which requires no baking, roasting of frying....but maybe a little marinade. Won't be long now those ingots will be rolling down the old smelter chute.
Mexus provides company update Press Release | 07/20/2018
CABORCA, Mexico, July 20, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) today gave an update on its operations in Mexico. The information provided was compiled by Mexus geologist, Cesar Lemas, who is providing the necessary data from the company’s multiple properties.
Recent work has been directed at the 370-8 Brothers project including Vat leach testing of oxidized sulphide ore specifically from the 8 Brothers prospect area. About 50% of the sulphides remain as gold and silver bearing mineralization. There is also arsenic, lead and zinc as constituents of the sulphides. The polymetallic massive sulphides have very interesting contents of gold and silver but most of it is encapsulated within the sulphide mineral as gold-arsenate sulphide and silver-lead sulphide. These sulphides are difficult to extract by simple gravity and/or cyanide leaching unless they are pretreated via roasting to eliminate the sulphur. About 80 tons of this oxidized ore was crushed to <3 inches and put in a steel tank and leached for a period of 25 days. Eight head assay samples were taken averaging 1 g/t Au and 50 g/t Ag with one sample showing 30 g/t Au and another sample with 800 g/t Ag. Solution was assayed daily for a week showing recoveries of 1.25% in gold and 13% in silver with a slow increase after a week and large cyanide consumption. The solution was assayed after 3 weeks and turned out to have minimum increase up to 26% in silver and gold remaining the same. Vat leach testing is showing that the high sulphide ores from the 8 Brothers has to be pretreated in order to increase the recovery. Roasting of ores will release some of the precious metals to be able to leach with cyanide. Another method could be flotation of the sulphides which contain most of the gold and silver. More metallurgical testing will be directed as there is a wide variety of ores in the area and vat leach testing is the best tool for fast processing.
At the same time, trenching and sampling has been directed at the project following attractive strata which contains productive porphyry intrusions as dikes and sills producing hornfels. A 1000 meter long area has to be checked for gold and silver values and is a potentially attractive zone for a bulk type mineralization. 30 to 50,000 ounces gold would be an initial target resource in this area near surface. There is potential for 250 to 500,000 ounces in this section alone.
What’s the Mark Twain quote about a miner?
I believe the quote was “A mine is a hole in the ground and its owner is a liar.” was attributed to Mark Twain. There are a few variations to the quote but they all say essentially the same thing. As applicable today as it was in Twain's time.
Especially descriptive of MXSG.
Any one or group that does even the most cursory inquiry would run, not walk away from this POS. Private placement or toxic funding are the only avenues available to the hobbyist at this time. There are very limited avenues open now IMHO.
ALWAYS IMHO
Did MXSG hit 10 oz yet ??
If a discarded empty Corona beer bottle weighs 10 oz., then yeah they hit it.
If you're speaking about gold..... 8.5 ozs thus far
Cumulative loss as of March 31, 2018 ......$26,8000,000 and change
translates to $3,152,000,000/oz
Nah, how many hectares do they have altogether ? Still lotsa land left to putter around with.
Hey, let's dig over there....
No, we dug there last month, remember. It's time to dig over THERE.
Hey, wow, I found a nugget.
You jerk, somebody dropped a chicken Mcnugget..ii
Don't forget, he has access to the MXSG corporate aircraft the Piper J3 Get's you there @ 80mph.
Those who bought at that level are very fortunate and undoubtedly long gone.
Has nothing to to with the inherent value of MXSG which is -0- nil, none, zero, zilch
"1,000% above the lows of early 2016. So what." Such a specious argument.
Suggest don't join debate team.
You have the wrong poster. I have no idea where Thompson is or what he's doing. He sure isn't writing PR's. Bit it he was there, I'm certain he would be hustling tickets to his replica stamp mill. Gotta pluck them tourists while you can.
Are you there, really ? Ever had lunch at the Old Washoe Club ? Do they still have oyster on the half shell ?
Mexus has had nine years to prove itself. It HAS proven itself...... to be a failure at whatever endeavor it has undertaken. Or maybe Mexus has lost 28+ million dollars practicing.
A poster has previously written (and it's well worth repeating)
Mexus has claimed for years that gold and silver are "being produced". They were lies.
Why would anyone believe them now? Why would anyone believe that this property, which has not only been available for acquisition for many, many years but shopped all over Vancouver to no takers, would just have profitable amounts of gold and silver sitting near surface that any idiot and mining neophyte like Paul Thompson could come along, scoop up, and produce at a PROFIT within a few months at minimal capital outlays? Really? So everyone in Vancouver was just stupid in not acquiring the property when it was pitched to them over the last decade?
But not to worry, MXSG will be successful soon. It's imminent !