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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 !
MXSG CEO Paul Thompson's breach of fiduciary responsibility.
As has been pointed out previously, it is the responsibility of the company (in this case, the hobbyist) to keep shareholders informed of material events in a timely fashion. Two recent events come to mind. The clandestine monetary support of MarMar at Elena and the recent vat operation.
Everyone is familiar with the back door payments at Elena and yet to date, no one knows how long MarMar was subsidized or how much money was expended. It has never been disclosed.
The July 2, 2018 PR stated that the vat tests were successful and results of the first vat batch would be released soon. Two weeks, three days later and no results.
Restating that which has been written before... Thompson has made a habit of hiding material events and makes statements only when it is to the company's advantage..
This benefits MXSG in that news of further failure would result in a wholesale dumping of shares.
Fiduciary responsibility is an alien term with no meaning to CEO Thompson
MXSG is definitely a work in progress. Whether it proves to be successful is a contentious argument.
There is little or nothing that indicates that MXSG has either the resources or the expertise OR a property that can successfully be mined profitably.
Those who are comfortable with the Mexus method of spending money futiley are certainly free to do so.
Nothing written on a chat board will have any effect on results .... that's true, so why all of the enmity ?
BTW BIG difference between impending and inevitable... maybe now the difference is evident.
I believe the term regarding the toxic funding was "inevitable" not "impending".
Forecast of drop below a penny.....same thing. Inevitable, not impending !
1manband Thursday, 07/05/18 05:28:51 PM
Post # 25797
No, I won't. And the toxic death spiral will definitely be continuing, but it may be September 2018. Or October, November or December. Mexus is insolvent, and the late 10-K will not be bringing any good news in that area.
gitreal Thursday, 07/05/18 06:26:47 PM
Post #
25803
Not even 1manband cannot predict exactly when the 1manshow (PT) will run out of money and have to take on more toxic debt. Toxic death spirals proceed at different rates, there is no standard timeframe for all companies. In this case, longs have been very generous with their retirement funds and propped up the company, slowing the progression.
Will the next toxic note be announced in September, October, or later? Who knows, my bet is on September, but one thing for sure....it is inevitable.
But keep misstating things....it's normal MO
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, [b]Cesar Lemas, has identified new material 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.
Definition of soon ? Kinda like "impending" Lemas identified "new material" A discovery of a new element that acts as an accelerant ?? Secret process...wonder if it is patentable ? LMAO
Or maybe a source of of gold bearing ore that is better suited to the MXSG vat process ? That Lemas... always on top of the situation. Look what he did for the Elena process.
Keep in mind (1) there must be enough gold to warrant pursuing the smelting process (2) news of results will be dispensed in accordance with the following per MXSG board spokesperson.
"Vat residue smelting ( if any ) does seem possible after 2nd so gets a PR (when seen needed) due time.
There is more money to be made charging tourists .25 each to tour faux gold mine and replica stamp mill in Virginia City, Nv
You would think the auditors would ask Thompson to categorize the General & Administrative expenses otherwise it results in questions such as those that have been posed here.
Regardless of how you look at it, $972,309 represents a helluva lot more money than the sought after gold has yielded and should be accounted for beyond sweeping it into a broad category as seen in the 10-K.
This has been the pattern all along. Lemas' lab was used to "analyze" the 370 grab samples. He was the one who declared 2000 - 4000 ozs of gold contained in the sludge ponds. He was involved knee deep in the Elena debacle. Now he declared the column leaching process will be even more productive than the non productive procedure they have been using. Not exactly a dispassionate third party rendering opinions regarding anything Mexus.
He is currently Prez of Mexus Mexico.
What's next in the MXSG playbook ? Maybe calling criticism a witch hunt ?
What is the MXSG definition of "soon" ?
July 2, 2018
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 sad part of it is; MXSG can continue to do this ad infinitum as long as investors support this scam. Inflating expenses calling then "general" and "administrative" is a great ploy. It represents close to a million dollar a year boon for Thompson, the one man CEO, CFO, and chairman of the board.
And still it goes on...... again, incredible.
Bilk, wash, rinse, repeat !
"Also, General & Administrative Expenses continue to remain high. This year was almost $1,000,000. This continues to be a red flag for me. I think there should be a more detailed accounting of this expense than a single line item."
Examples of general and administrative expenses are:
Accounting staff wages and benefits. >> Accounting expenses are a separate item
Building rent. >> n/a
Consulting expenses. >> I think all of the consultants left (or were fired)
Corporate management wages and benefits
such as for the chief executive officer and support staff) >> Support the CEO and his Cessna 150
Depreciation on office equipment. >> computer and calculator getting old > great write off
Insurance. > Insurance against law suits by investors ?
Legal staff wages and benefits. > MXSG stated they are not involved in litigation
Office supplies. >>> there are those damned expensive pencils and erasers again
Close to $1,000,000 "Let's write it off to "General Expenses"
And I'm certain that the preface to that was "not for public dissemination".
Nothing surprising about the report. The only surprise is that investors continue to believe in this
tragi-comedy. Incredible !
It's pretty damned sad when a "secret source" is required to determine what is going on with this POS.
MXSG > jewel of junior miners
A cumulative loss of $26,853,994 as of March 31, 2018
ROI 8.5 (or) 8.2 ozs. AU Phenomenal
"Vat residue smelting if any does seem possible after 2nd so gets a PR when seen needed due time."
Part of the company's fiduciary responsibility is to keep investors informed regarding events that directly affect their investment.
Results announced in a PR "when needed and in due time" does not quite satisfy the fiduciary trust obligation.
Thompson has made a habit of hiding material events and makes statements only when it is to the company's advantage.
This benefits MXSG in that news of further failure would result in a wholesale dumping of shares.
It also represents the company's philosophy that news shall be dispensed on a "need to know" basis.
Fiduciary responsibility is an alien term with no meaning to CEO Thompson
It appears I was off the mark when it came to cumulative losses. I stated it as being 18,000,000 when in fact it was somewhat more. I came to realize this when I read the entire 2017 10-k over again. I missed this important adjunct.
During the year ended March 31, 2017, the Company incurred a net loss of $3,806,697 and used cash in operating activities of $819,230, and at March 31, 2017, had a accumulated deficit of $22,944,033. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The Company’s independent registered public accounting firm, in their report on the Company’s financial statements for the year ending March 31, 2017, expressed substantial doubt about the Company’s ability to continue as a going concern.
Disputing figures set forth in an SEC document and calling it fake news ?? Then quoting the "stable genius" who's as bright as a 5 watt light bulb ??
Bizarre
MXSG ESTABLISHING A NEW RECORD ?
We had a net loss during the year ended March 31, 2014 of $6,993,406 compared to a net loss of $4,333,436 during the same period in 2013.
What are the odds of the old loss record being broken this year ?
Eight, do I hear nine, nine, nine do I hear nine. Ten, going once, going twice....
Even if they produce a few ounces of gold, figure the cost per ounce and then tell me what a great investment opportunity this is.
Let's see $18,000,000 (thus far)
divided by 8.5 ozs. (thus far}
_______________
cost pe oz. $2,117,647.06
How many aborted start up attempts should there be before an operation is considered a failure ? And how much money expended with zero result.
2012 - 2018 ?
Looks like it’s Monday for the MXSG 10K. Can’t wait to see what goodies “Subsequent Events” holds.
Is there great anticipation for the vat sludge/smelter/refining/sales report ? Is there widespread belief that it will be reported ?
ON THE UPCOMING 10-K PAY PARTICULAR ATTENTION TO HOW MXSG HIDES EXPENSES.
Mexus Gold US (MXSG)
FORM 10-K | Annual Report
Jul. 14, 2017
Mexus Gold US (MXSG)
Exploration >>>>>> EXPLORING WAYS TO FRITTER AWAY MORE SHAREHOLDERS $$$$$$
304,634
General and administrative >>>>> LOTS OF PENCILS AND ERASERS
845,605
Stock-based expense - consulting services >>>>> CONSULTATION WAS EXCEPTIONALLY IMPORTANT
1,848,481
(Gain) loss on sale of equipment
(100,266)
Write down of equipment held for sale
12,308
Total operating expenses >>>>>> ANOTHER BANNER YEAR
3,256,262
General Administrative costs 2017 845605
General Administrative costs 2016 738,586
General Administrative costs 2015 717,894
___________
Total 2,302,085
YOU CAN NEVER HAVE ENOUGH PAPER, PENCILS AND ERASERS
"THE COMPANY" being Paul Thompson, whose vast knowledge and experience has led to years of disastrous losses, the choice of two (or more) failed JV's and 8.2 or was it 8.5 ozs. of gold to show for the effort. Now THERE is an objective source. My A**
In craps, it's known as betting on the "come" but your chances are better on the craps table.
Go to https://seekingalpha.com/symbol/MXSG/sec-filings and read the record and decide for yourself if this is the direction in which you wish to throw your money
While you're at it, glance at the Mexus Gold US (MXSG)FORM 10-Q | Quarterly Report
Feb. 16, 2018 3:22 PM
But July 16 should prove to be an even better indicator with the current 10-K due. Read carefully and then decide.
Of course, like any other forecast, this is subject to the vagaries of investors and the market in general.
It's an opinion of analysts who forecast based upon past performance.
https://www.macroaxis.com/invest/market/MXSG--hype--Mexus-Gold-USMexus
MEXUS GOLD NEXT PRICE ANALYSIS
Latest traded price .014 Expected after-news price .01
Potential return on next major news hype -28.75%
Maybe there is a forecast out there that predicts quite the opposite result from the next PR.
Who knows ?
The Mexus website provides the email address of the CEO and his phone # has been posted on this board many times.
If you are seeking clarity and truth I believe reading the board and pursuing the avenues that many posts have provided would be a better bet than discussing anything with Paul Thompson. That is, if objective evaluation is your ultimate goal.
Yup, and another old chestnut that applies to MXSG..
'Those who do not learn history are doomed to repeat it.'
Compelling record of MXSG "productivity". How can you lose with a record like this ??
2013
We had a net loss during the year ended March 31, 2013 of $4,333,436 compared to a net loss of 1,511,932 during the same period in 2012. We had a cumulative net loss of $8,636,725 for the period from September 18, 2009 through March 31, 2013.
2014
We had a net loss during the year ended March 31, 2014 of $6,993,406 compared to a net loss of $4,333,436 during the same period in 2013. We had a cumulative net loss of $15,630,131 for the period from September 18, 2009
2015
We had a net loss during the year ended March 31, 2015 of $947,856 compared to a net loss of $6,993,406 during the same period in 2014
2016
Year Ended March 31, 2016 Compared with the Year Ended March 31, 2015
We had a net loss during the year ended March 31, 2016 of $2,177,577 compared to a net loss of $947,856 during the same period in 2015.
2017
Year Ended March 31, 2017 Compared with the Year Ended March 31,2016
We had a net loss during the year ended March 31, 2017 of $3,806,697 compared to a net loss of $2,177,577 during the same period in 2016.
Revenue
The greatest illustration of "fake news" is the very first line from the Mexus web site.
Company Overview
MexusGoldUS (OTCBB: MXSG) is a gold and silver producing company with projects in Mexico.
Mexus hasn't produced ANYTHING other than deceitful and misleading statements via PRs. and yet anything the least bit objective (critical) re: MXSG is called "fake news". How ironic !
Here's a service that views MXSG as a "hype" stock. Guess that's fake news too.
https://www.macroaxis.com/invest/market/MXSG--hype--Mexus-Gold-USMexus Gold Next Price Analysis
Predicting .01 or less in the immediate future or as Thompson would say... "Impending" implosion.
How admirable it is that MXSG's CEO Thompson persists, battling adversity, beset with problems. How many people are there that have the stamina, the courage to continue fighting, pursuing dreams of wealth albeit, pursuing it with other people's money ? What a guy !
Does Mexus have a problem ?
"Looks like some scrambling going on, trying to pay for 10-K."
All that's required is for them to sell the bountiful yield from the vat sludge, less the smelting/refining fees. UNLESS, the sludge turned out to be a gigantic bust.
Way things are going, we may never know.
You’re absolutely correct MXSG HAS no value Silly me.
Another day with a .0045 loss and Mexus will achieve sub penny...a level where is is STILL overvalued.
How is a stock valued you ask ? It is represented by the company's stock price multiplied by the number of shares outstanding. ... Any percentage changes in a stock price will result in an equal percentage change in a company's value.
We'll say 800,000 OS X .0131 >> Oh my, not worth too much
Let's do it another way... Liquidation value ? Kinda depends on how much equipment Mexus owns minus its' debts. Oh my. Might not be worth much that way either. Oh well !
But hey.... the output of the vats will result in exponential growth and consequently, the PPS
A gram at a time !!!!!
Can anyone enter the MXSG contest ? If so, I would like to make an entry of between 60 - 90 grams. Helluva haul !
When the vat sludge was drying, the evaporative effects of the Mexican sun caused a depletion of the material and they ended up attempting to refine 2 1/2 kilos. The rest ?? Quien sabe ?
I think that is FAKE NEWS because I heard the rumor that Newmont, Barrick and Goldcorp are all vying to be the next Mexus JV.
Oh yeah, Homestake was a distant fourth contender.
Want to talk about "fake news" ?
"Mexus Geologist Cesar Lemas .......
"During the month of August, the first 3 meter heap leach layer was completed with approximately 30,000 tons of ore being processed. Contained metallics are in the order of 2,000 to 4,000 oz Au and 10,000 to 15,000 oz Ag."
Now THAT is what I call fake news.
Need another ?
https://upticknewswire.com/mexus-gold-ceo-paul-thompson-says-mines-ready-produce-gold/
Here is Thompson claiming that MXSG was producing $500,000 in gold from San Felix every 12 to 14 days.
Need more.... just go back and read the board
Allow me to reference post 25962.
As for "fake news", it all emanates from the same source.... MXSG .
The term "fake news" is invariably employed when confronted with the truth. It's called ....the fall back position.
"Paul is well aware of the outstanding debt coming due; He says that if we can't sell gold by then to pay he will do an off market sale of his personal shares and do a low interest loan back to the company to pay this debt (assuming legal to do). He will not let this toxic debt expire."
So DID PT sell personal shares off market to pay the debt OR did the MESUX good ole boy's club pay ?
Maybe the absent 10-k will clarify that issue......maybe not.
The fact that MXSG is still trading is indicative of how useless the SEC really is. Considering the fact that their role is protecting investors from dangerous or illegal financial practices or fraud, by requiring full and accurate financial disclosure by companies offering stocks, bonds, mutual funds, and other securities to the public.
In the case of MXSG, they have quite obviously failed to perform that duty.
Mexus is performing as anticipated. They have a penchant for retreating and going dark when things aren't working.
It's rather obvious that the latest abortive attempt to "produce" has met with obstacles , quite possibly the lack of Au otherwise proclamations of "success" would be flying about.
The leaching, drying and smelting of the "sludge" hasn't quite worked as planned. Back to that well worn drawing board.
Maybe we will get the MEXUS SLUDGE REPORT today to disclose how much treasure the sludge contained OR maybe the highly anticipated 10-k which may show how many millions were lost on the Marmar travesty.
Can't wait !
[Unproven allegations, references to other sites and supposed postings that can't be proved. b]
Lions and tigers and bears, oh my
Gold and silver precipitate is being produced at the new 370/8brothers/URES sight. This operation was put together in a matter of months and the first VAT produced precipitate successfully. Now the recovery rates are being analyzed to make this a continuing profitable operation. There are multiple VAT loads of crushed ore ready to process.
Want a cracker Polly ?
FAKE NEWS FAKE NEWS FAKE NEWS
Reading old posts on the Mexus board is so much fun.
Reading should be accompanied with the song "Don't Bogart that joint my friend, pass it over to me"
Monday, 03/28/16 10:08:57 AM
Post # 5613
"new PR clearly states that mining plan is completed, ready to
begin operating at a 100K to 200K oz/yr production rate;"
So that's $120,000,000 to $240,000,000 in Gross Revenue at $1,200 POG...Hmmm