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Good question. In order for PT to raise that sum he would be required to sell 5,000,000 shares @ .05. He HAS recently sold a great number of shares but nothing like 5,000,000. He sold 450,000 Sept 3 and I believe he sold more after that date but still far short of the 5,000,000 required @ .05
A great number of gold producers would love to know the secret behind the Thompson method of determining production costs.$400 - $500/OZ ? That is earth shattering and absolute BS.
Did I get it right ? Thompson receives 5% of profits until MarMar's investment is paid ?
Final note...the refining method which I believe is called for is not exactly inexpensive. Remember calculating costs ? This enters into it big time.
CIL process is mainly include : decontaminate , concentrate before leaching , leaching and adsorption , desorption and electrowinning , hydrometallurgy , regeneration of activated carbon , tailings filting , waste water treatement and so on .
1?Decontaminate impurity :remove the impurity like the bits of mood before cyanide adsorption , avoid the bits of mood adsorb the gold from slurry , avoid the bits of mood block the carbon separator .
2?Concentrate before leaching , usually to reach a suitable leaching concentrate , the slurry should be dewatered through the thickener before leaching , the concentration could influence the leaching time and influence the float of activated carbon .
3?Leaching and adsorption : put the slurry after decontaminated and concentrated into the high-efficiency leaching tank , there are 5-8 tanks normally , add cyanide solution into the former two tanks , add activated carbon into the other five tanks , activated carbon adsorb gold become the loaded gold carbon , the loaded gold carbon lift into the lifting screen by air lifter , the lifting screen separate activated carbon and slurry .
4?Desorption and electrowinning : the desorption of activated carbon and electrowinning the liquid gold are completed in a closed system , in a high temperature and high pressure , activated gold carbon after desorption and electrowinning become gold pulp and barren carbon . Main equipment including : desorption column , acide tank , heater , filter , desorption tank , electrowinning tank and so on .
5?Smelting : after acide washing and decontaminate , gold ingot will be smelted . With the method of hydrometallurgy , the gold grade could be 99.99%.
6?Application of the regenerated activated carbon : the activated carbon after desorption make acide washing to remove the carbonate accumulate , after times of using that need heating activated to regenerate the carbon , then for recycling . Main equipment including activated carbon regenerated tank , water quench tank , fine carbon separate screen .
Let's be generous and say the project's costs are only $800/ounce BUT the all-in costs are a little higher than that. Cost and maintenance of equipment, worker's salaries etc. so now we come closer to the $1000/ounce figure.
Unless I am mistaken, Mexus receives 5% of PROFITS until MarMar has recovered it's initial investment.
SO, $325/ounce (again generous) derived from yield thus far (estimated to be between 400 - 500 oz. gives "profit" of $130,000 at 400/oz and $162,000
at 500 oz
So Thompson receives 5% of that which won't even buy his avgas.
WHAT A STUPENDOUS OPPORTUNITY ! GUESS THE GENERAL MARKET HAS COME TO THE SAME CONCLUSION
Even if the extrapolating and estimating and speculating is spot on, there still exists the reality of what it costs to bring that ounce of gold to market.
All of the DD expended by board experts has not reveled what can be expected in the way of PROFITS.
Try doing some in depth DD re: costs
A scan of major gold producers' earnings suggests the cost of mining gold has risen dramatically over the past few years.
Part of that is a true increase, owing to inflation and the expense of digging out tough-to-reach grades. But most of it is due to a change in the cost metric that gold miners emphasize in their reports to the investing community.
For years, miners liked to talk about "cash costs," the mine-level expenses of pulling an ounce of gold from the ground. For the most part, cash costs ran from $500 (U.S.) to $800 per ounce, depending on a miner's properties.
There was a problem, however: Even as the price of gold skyrocketed to nearly $1,900 per ounce, miners weren't reporting wild windfall profits on their bottom lines. That's because cash costs left out a host of expenses, from the costs of running the company to annual spending on equipment.
The new "all-inclusive" measures attempt to solve that. The most frequently used metric, "all-in sustaining costs," puts the cost of extracting an ounce of gold at more than $1,000 industrywide – and explains why miners are having a rough go at profitability when gold sells for a couple hundred dollars more than that.
AND, that's IF all of the champagne wishes and caviar dreams of the dreamers comes true
Details. Either you have blind faith or you don't
After a year since the "production" announcement
that question is just quibblingn
Mexus gives an update on its Santa Elena mine
09/06/2016
CARSON CITY, Nev., September, 6th, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG)(“Mexus” or the “Company”) today gave an update on the progress at its Santa Elena mine. The recent rains resulted in a small delay at the mine but the crew onsite did an excellent job of keeping the impact to a minimum. The crushing of the heap leach pad filter material continues and should be completed shortly. Mexus President, Paul Thompson, remains confident that nothing will stop our partner from bringing the property into production. Mr. Thompson closed, “I appreciate the continued patience and trust of our shareholders. I now believe that we will be in full production during the month of October.”
I thought production was a process to create an output that has some value.
It always helps to never be specific about which year production will begin
Unfortunately I believe you are totally correct. Rather than do an in depth
investigation regarding feasibility or listening to someone who relishes blowing his own horn, I refer you to this article.
http://www.resourceinvestor.com/2011/10/11/how-evaluate-gold-deposit-comparing-two-deposits
How many "investors" have looked into the track record of either of the principles involved here.... either PT or MarMar?
Quite possibly, the most astute post was stickied noting the odds of MXSG being a scam
Personally, I took to heart the words...."Believe nothing of what you read and only half of what you see".
Over promise under deliver. There are a couple of ways to look at that. Obfuscation is one way, blatant deception is another
The fact that there is gold on the property is not in dispute Whether its economically feasible to recover is the question. Someone said it quite well .....there doesn't appear to be any evidence that the promised bonanza will ever materialize. There are other minor gold operations that are working properties every bit as good as this ,one notably in Canada. None of them are experiencing soaring share prices. Bottom line....if it sounds too good to be true, etc
And that is something that has been needed for a very long time. About time someone stepped up and commented on the obvious discrepancy (lie)
Now that you have posted this totally irrelevant information could you please tell us what you intend to do with it? Maybe write them a letter and ask them their future plans? Possibly ask them when they intend to become actively involved in scamming the public again ? Or maybe ask them what happened to all of the funds they disappeared with lo those many years ago. Maybe they can come here on the board and explain where they have been the last eleven years.
As PT once said...there is one born every min
You should read ( a little more thoroughly) the 10K which states that the ongoing sales of shares is essential for maintaining the current operations. The current operation is a gold mine for a limited number of individuals (excluding shareholders)
Looking into the CEO's creds, I found that he is a real entrepreneur. He developed a mobile home park AND built a replica of an old time stamp mill for the enjoyment of tourists. Unfortunately, he doesn't seem to have a handle on developing a legitimate gold mining operation. But he keeps talking about how "excited" he is about the Elena operation. Hell, I would be excited too if I had a perpetually funded ATM machine.
How often did you hear that PT was selling a s__tload of his shares in order to finance the operation ?So much for THAT excuse. The interminable delays and the constant statements regarding "fine tuning and calibration" became a bit thin many moons ago.
Good old PT has a golden goose in the form of this operation as has the guru on the board. You know, the loquacious expert of all things except correct writing.
Scam ? Depends upon your definition. if releasing misleading information and downright lies constitute a scam then I would say this has qualified.
Which brings us back to their 10K statement.....
"Our management does not expect that our internal controls will prevent or detect all errors and all fraud."
FRAUD ? Did someone say fraud ?
Those who were waiting for the 10K, anticipating something that would propel this thing forward must be terribly disappointed. Not only was there nothing positive, there was a whole lot that hoisted more red flags ( and the flag pole was already flying a great number)
Very difficult to understand how some still have faith in PT and The Riddler, neither of whom have a smidgeon of credibility.
The 10K needs no interpretation. It is what it is. A caveat emptor document.
"Our management does not expect that our internal controls will prevent or detect all errors and all fraud." From 10K .............
FRAUD ? Did someone say fraud ?
Would you mind pointing me in the direction of that official statement ? They must have documentation regarding the sale of that precious commodity. You certain you're not referring to the cable salvaging up in Alaska ? That must be a real money maker.
Between PT and his obfuscating spokesperson on the board, The Riddler, there is absolutely nothing to base hope upon. Statements made by both are empty rhetoric and not supported by facts or results.
Shotgun has been correct all along.
Faith in PT ? I would rather follow the Tooth Fairy around waiting for her to drop some change.
The market doesn't appear to be excited about anything that MXSG has to offer either with the impending 10K or new pour results.
I think it now has qualified as an official penny POS following in the footsteps of many other POS that have preceded it. Nothing new here.... great fanfare with no results. Same old same old.
Erosion of credibility over a protracted period of time has led to toxicity. Ain't gonna recover any time soon, if ever. All that's left are the raucous cheerleaders shouting "Oh yeah, just wait and see".
28.34 grams to the ounce. All they have to do is process a few thousand tons of zinc laden dirt to make it a viable operation. Good luck with that !
I know a place in the Philippines where, with a miniscule investment, the rewards are much greater than anything offered by this comedic operation. Maybe I should buy a shell and sell stock.
I wonder what happened to the guards who were (purportedly) hired to guard the precious sludge rendered by the finely tuned and calibrated recovery system. Can't be too careful you know.
Brings to mind the old saying, "one man's treasure is another man' garbage....or is it the other way 'round?
But just wait, the proof is in the pudding and that is just days away. If the board tout is correct, everyone will soon be making plans to spend their new found wealth.
The dearth of news from Mexus gives rise to the thought that all of the calibrating and fine tuning was for naught.
News blackouts are never a good sign and there has been no official word for some time now. I still wonder where the ball of zinc sludge is residing and at what point it will be processed to reveal the treasure that lies within.
Some time ago, I wrote that this was obviously a seat of the pants operation and was met with howls of indignation. I see nothing to change my perception. While it may not be a scam, it surely isn't the 10 or 5 or even 2 bagger. At this point, getting out with a whole skin is seemingly all one can aspire to.
If I were a trader and had inside information, I don't think I would divulge that information. There are regulatory agencies that tend to frown on such activities.
So it would appear that the source of that information was either 1. fabricating or 2. ignorant of what may lie in wait for him/her.
Why hasn't that been done and the results posted ? So many questions....and so many obvious answers
But then when it was smelted and you discovered that your speculation was unwarranted, what would you do ? Make a confessional declaration, fall on your dull butter knife ? After all, some are looking at a cash cow here. Better to just sit and stare at it.
Uh, if memory serves correctly, the excuse given was the high cost that would be incurred and the plan was to add the (precious) sludge to subsequent sludge collections, thus making it less expensive ? Plausible explanation .... really ?
It is much better to have 250# of sludge you can point at and say "see that pile of mud there, it contains a million bucks worth of gold" !
We are rapidly approaching the 11 year mark when SLJJB cratered taking a lot of people to the cleaners.
Most accepted their losses and wrote it off to a lesson learned. They took advantage of the "capital loss" exception in the tax code and wrote off up to $3000/yr losses. Others were not quite so astute.
Attempting to resurrect a dead scam shell has been the object of many fools over the years and SLJB is no exception.
The SLJB board has been and shall remain an indicator of all that is wrong with the penny stock market. It often attracts those who seemingly have an abundance of cash or are willing to gamble. With very few exceptions they are far better off playing craps in Las Vegas.
I am not here to curry favor from fellow investors. The fact that the stock has cratered has been a matter of concern to me. Statements emanating from someone who claims to be "an outside source" is and has been of particular concern to me and others.
It has been stated by others that there has been delay after delay so my voice is not the only one who sees this as an issue to be addressed. Now according to the latest PR, it seems that zinc has become a troublesome issue. All of these issues can be dealt with....the problem is that the information comes sporadically while, in the meantime the PPS continues to sink and interest continues to flag.
Those who have a problem with what I post are certainly free to express their opinion. I would hope that I would be granted the same consideration without the accompanying vitriol.
I hope as much as anyone that MXSG thrives and the PPS recovers. I still feel this is a gold "wildcatter" or seat of the pants operation. When it is partially or wholly funded by the CEO's sale of shares, I would say that they are somewhat underfinanaced.
I have no problem with the opinion of others. It matters little and if the end result is MXSG success, then hooray for all of us..... optimists and pessimists alike.
Now wait just a dag nabbed minute. I just read a post that said they didn't want to lose the 300 - 500 k of gold that must be hidden away somewhere. I'm impressed with the security. No one knows it's there other than the hombre who hid it.
Must be hidden by smoke N mirrors. Now where did the wascally post go ? It was here a minute ago.
You're correct, I misspoke or rather miswrote. We are looking for the "results". However, I believe my comments are still applicable. They have been "fine tuning" for what I consider to be a protracted period of time.
Whether or not "Big Jaws" is a worthwhile asset remains to be seen. No one is exempt from making judgmental errors, least of all seat of your pants gold miners.
Maybe someone can write coherently and express their thoughts as to why it has taken so long to release the results of the pour.
When a pinky goes dark, it is time to examine why. . I believe this situation is a classic case of going dark
Yeah, I know there was a statement that results would be released when it was deemed appropriate. I think that time has long since p[assed
You put your finger on the problem right there Gene, "Unless there is something wrong". I have little doubt that PT appreciates the fact that we have all been paying for his avgas. Sell a couple hundred thousand here couple hundred thousand there and soon he will have enough for a new rig, maybe even a used Lear.
Would you like to bet more than a few shares haven't comes from "the principles" ?
I really enjoyed the heads up warning of banditos raiding the digs. Kind of reminds me of an old Pogo cartoon "We have met the enemy and he is us". I thought at the time... not worried about the thieves OUTSIDE the gates.
Sticky # 11948 says it as well as it can be stated. All that was written has quite plainly evidenced itself.
I don't believe I would call MXSG a scam or a fraud of any kind. Rather, it looks to be an amateurish
attempt at a mining project and labelling it a bonanza. Everything about this project has developed
a backyard project. If it were truly a "bonanza" the large mining interests would be on this thing in a
New York minute
Nothing happening here that hasn't happened to a million previous pinkies.
Great expectations but little beyond that. When people begin yelling "a dollar by year's end" it's time
to pick up the marbles and exit.
Then there are those who catch the falling sword and announce to the world how smart they are.
Gotta love it !
Amateur PM's and lack evidence of real productivity have killed this play.
If that is indeed the case, the best that can be hoped for is MXSG maintaining its current price but I feel further erosion of the PPS is much more likely.
He whose desire to buy at .05 just might realize his wish.
The question now is, what will it take to get MXSG to move up now ? Surely not another ill advised PR such as those which have caused this to ratchet down to this point. Surely, not more convoluted posts alluding to the poster's expertise or visiting the site and stumbling over nuggets or photos of a button sized result from the first pour.
So what IS the catalyst, if any ? Flagging interest and the atmosphere of waning credibility do not bode well.
Gold futures and gold miners trade broadly lower, extending yesterday’s big drop amid the rise in risk-on sentiment that followed France’s presidential election results.
“Traders’ expectation that Le Pen will not become the next French President has resulted in a technical correction for gold and silver,” says Chintan Karnani, chief market analyst at Insignia Consultants, and if the technical correction continues until Friday, it would “mark the beginning of a short-term bearish phase." Does not bode well for miners..little big Mexus has enough problems without further complications May be time to cut and run
No one but the principles know the answer to that one. At this juncture, the future looks a bit murky and obscured by past statements of the time table of events and declarations like, "I am very optimistic regarding the results of the scheduled pour" ...a statement by the CEO I believe.
I try to remain optimistic but it becomes a bit difficult with the passing of time.
There is a method in place whereby you can lodge a grievance regarding the deletion of your post(s) and you are certainly welcome to avail yourself of this avenue. Be aware however that your prior history of being banned from this board will be revealed.
Nothing has been posted on this board that you, yourself have not divulged Re: MoMoBreakoutboard msg 1398702 and EVERYONE knows about your alter ego.
Follow the board's posting rules and there should be no problems.
All that you posted did indeed take place and it has been common knowledge for the last ten years. What is so funny are the various persons attempting to blow hot air and inflate the SLJB scam once again.
Steve Sulja ventured into the "business" world again with a new venture. Immediately, the bag holders (possessing millions of worthless shares) forwarded the theory that it was a plan to merge the new entity with the old worthless POS. Of course the dream of fools has not materialized but that has not prevented some losers twisting in the wind proposing new and even more ludicrous plots to resurrect the scam.
What you are witnessing is several losers unable to reconcile their losses and attempting to believe in their fantasies.
Looking at the history of the various persons you will find a collection of truly "colorful" characters. Harmless but loud and excessively verbose.