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Good. Lord.
This is looking more and more like a monster.
seems legit
Seems like a plausible opinion. Definitely a possibility. Let’s hope DR can make better choices
Are we halted or just zip volume today?
Nice...
BTC Bump this morning, is it the start of something or a headfake for more sector drops? What did all the sideways movement this weekend look like to you?
Mentions Asama again in this one, around 6:00 in.
Yo Crypto Clover posted a good review of Asama on the 23rd, sorry if someone already posted this?
That's weird bc financials were out and looked like $ was coming from those mining machines. Also I've been impressed that CEO didnt sell any shares when it spiked up past $6 last year (I didn't either, but that's another story), so do you have any evidence for this claim?
Where is this interview? Do you have a link? TIA
Soap company may be scooping all of that up..
Wish someone did. This one is killing me
Is it possible you could do ten trades of 4999 instead of one for 50,000 and pay less commissions? Oh maybe there’s a percentage rake above 4999
Watcher thanks for popping up on other boards. Your insight would be helpful on any of them, as at this point I am only waiting to get off many busses, having gotten on at a number if ill-timed stops.
Sounds to me though that the fall from .13 here you wouldn’t have seen..? But I guess you knew enough to stay out, since visibility was poor. Anyway if you looked at the charts and saw something then, please share.
OTC learning curve is steep for me. And expensive.
Link?
I've heard someone explain this elsewhere as a trading house (not sure which company) only allowing 4999 share trades if a certain preference isn't selected in someone's account. Maybe a newbie trader, but I believe it is a non-issue. Someone correct me though if I'm wrong.
Looking like the new support might be $8100. Let’s do it BTC.
8K coming...? Look out above
Wasn’t Dec 15 5 months ago not 6? But ok, point taken
Building trust
Ba-boom, I say.
Again, company at the crossroads. This looks very good though.
??
Manitoba stands apart from other locations because it has:
Published electricity rates that are among North America's lowest
Manitoba’s electrical rates are among the most affordable in North America and surveys conducted by Hydro Quebec have repeatedly shown Manitoba as the most competitive in terms of published electrical rates for large industrial customers.
https://www.gov.mb.ca/jec/invest/busfacts/utilities/hydro_intro.html
All, not will. Oh well. So much for snark. Autocorrect would have destroyed Noel Coward
Aren’t we will though. Wait you’re taking about the company aren’t you? Privy to information we aren’t? Why say you so?
Nice
Excellent
DA finalized
VANCOUVER, British Columbia, May 11, 2018 (GLOBE NEWSWIRE) -- MX Gold Corp. (MXL.V) (FSE:ODV) (MXLGF) (the “Company” or “MX Gold”) announces that, further to its news release dated April 5, 2018, it has entered into a definitive agreement dated May 9, 2018 (the “Magistral Agreement”) whereby, subject to the closing thereof, the Company has agreed to sell its 50% beneficial interest in the Mexican Magistral Project (“Magistral”) for a purchase price of US$4.5 million.
The Magistral Agreement is in addition to the other four previously disclosed binding agreements that collectively propose to sell the Company’s entire mining portfolio in an arm’s length transaction to a private company for the aggregate purchase price of approximately CDN$14,952,000. The Company intends to use the funds to expand its existing and successful cryptocurrency mining pilot project of 360 mining units through the purchase of an additional 2,000 mining units under its existing lease arrangements located in Manitoba. The proposed sale of its mineral exploration assets and expansion of its cryptocurrency business (together, the “Transaction”) will constitute a Change of Business as defined by the policies of the TSX Venture Exchange (the “Exchange”).
The Magistral Agreement
Pursuant to the terms of the Magistral Agreement, US$3.75 million is payable on the closing date and US$750,000 is payable on or prior to May 14, 2018 into escrow. Of the escrowed amount, US$250,000 will be held as a deposit towards the purchase price (the “Deposit”), US$250,000 will be held as a holdback for a period of six months following the closing date (the “Holdback”) and US$250,000 as a remainder (the “Remainder”). Upon closing, the Holdback will continue to be held in escrow and the Deposit and the Balance will be released to the Company. If closing does not occur on or prior to May 15th, and neither the Company nor its joint venture partner (who is simultaneously selling its interest in Magistral) is in breach of the Magistral Agreement, then the Holdback and the Balance will be returned to the purchaser and the Deposit will be released to the Company. If closing does not occur on or before May 15th and either the Company or its joint venture partner are in breach, then the entire escrow amount will be returned to the purchaser.
Closing is subject to certain conditions precedent including the simultaneous acquisition by the purchaser of the Company’s joint venture partner’s interest in Magistral and approval by the Exchange. Unless extended by all parties, the Magistral Agreement terminates if closing has not occurred on or prior to May 15, 2018.
The Company has also entered into a Liability Sharing Agreement with its joint venture partner, whereby the parties have agreed to share certain liabilities on a 50/50 basis that relate to the joint venture project incurred from the commencement of the joint venture to the closing date of the Magistral Agreement.
Previously Disclosed April 5, 2018 Agreements
The Company has entered into the following agreements which were previously disclosed in the Company’s April 5, 2018 news release, each of which are subject to the closing of the Magistral Agreement:
Reimbursement Agreement dated April 5, 2018, whereby the purchaser has agreed to pay the Company an additional US$3,525,000 as reimbursement for funds advanced by the Company in connection with the joint venture.
FortyTwo Metals Share Purchase Agreement dated April 5, 2018, whereby the Company has agreed to sell to the purchaser all of the issued and outstanding shares of its wholly-owned subsidiary FortyTwo Metals Inc. (“FortyTwo”) for a purchase price of CDN$3,000,000. FortyTwo holds the past producing MAX molybdenum mine and mill located in British Columbia and a CDN$730,000 reclamation bond for the MAX property held with the British Columbia Ministry of Mines. FortyTwo is also subject to certain legacy liabilities associated with prior operations.
Midas Property Purchase and Sale Agreement dated April 5, 2018, whereby the Company has agreed to sell the purchaser the early stage Midas Property in British Columbia for a purchase price of CDN$1,600,000.
Willa Property Purchase, Sale and Assignment Agreement dated April 5, 2018, whereby the Company has agreed to sell the purchaser the advanced stage Willa Property in British Columbia for a purchase price of CDN$1 and assign certain legacy obligations associated with the Willa Property, including a net smelter royalty, advance royalty payments, and the requirement to retransfer the property back to the original optionors if the property is not in commercial production on or prior to September 28, 2020 with the underlying mineral claims in good standing for a period of not less than three years.
Change of Officer
The Company also announces that, effective May 7, 2018, Hugh Charles McPherson has resigned from his position as President and Chief Operating Officer, but will continue as a member of the Company’s board of directors. The Company does not anticipate further changes to its management team or board of directors in connection with the Transaction at this time.
Change of Business
The Company anticipates that the Transaction will be subject to shareholder approval in accordance with Exchange policies and intends to prepare and file a Filing Statement setting out the material terms of the proposed Transaction in due course. The Company intends to obtain such approval by way of written consent. In the event that the Company determines that the Transaction also requires shareholder approval under the Business Corporations Act (British Columbia), the Company intends to proceed with the closing of the Transaction and delay the closing of the Willa Property sale until such approval is obtained. The Transaction is also subject to the Sponsorship requirements of the Exchange. The Company intends to seek an exemption from the Sponsorship requirements and if one is not available, it intends to seek a waiver from such requirements.
Upon the closing of the Transaction, the Company anticipates it will be listed as a Tier 2 Technology Issuer with the Exchange. As the Company is proposing to sell its current mineral exploration business for cash, no securities will be issued in connection with the Transaction, no changes to the board or management team is expected at this time and no new insiders will be created in connection with the Transaction. The Company is currently subject to a Cease Trade Order due to the failure to file a Technical Report on its Magistral joint venture interest and MAX property. However, the Company intends to apply for an application to revoke the Cease Trade Order following the closing of the Transaction and the sale of such property interests. The Company may elect to change the name of the Company in connection with the closing of the Transaction but the board of directors has not finalized such a change at this time.
On behalf of the Board of Directors,
“Dan Omeniuk”
For further information, please contact
Dan Omeniuk, CEO
Email: dano@mxgoldcorp.com
Phone: (204) 697-7640
Or at: info@mxgoldcorp.com
Next week we get a live tour ourselves. Clover not really into responding I guess.
I know, you've said. I just... lack discipline. Honestly I thought .115 was bottom after good report, and BTC was heading up. Ah well close enough. Let's see some bounce.
God why didn't I wait like you did. OK, waiting for the rebound...
Has anyone done any DD on the 2 directors, Samuel Berry and Matthew C. Scott? I can't really dig up anything on them, they are such common names too. Looks like they are the ones pulling down the consulting fees.
OK, and what's up with 'consulting fees' vs salary? Salaries and wages was only $9K for the quarter but the consulting fees are huge. Looks like even the CEO is getting these...?:
Daniel Rushford, President, CEO, Secretary, Treasurer and Director
On August 28, 2017, the Company entered into an Employment Agreement with Mr. Daniel Rushford with regard to being appointed as the new Chief Executive Officer, President, Secretary, Treasurer and Member of the Board of Directors. Mr. Rushford will receive a monthly salary of $2,000 to be paid at the end of each month. Unpaid amounts will accrue annual interest of 6%. In addition, Mr. Rushford will receive 25,000,000 shares of restricted common stock and 1,000 Preferred Series B Shares upon signing of this agreement. Further, at the end of the first 12 months the employee will receive $75,000 of restricted common shares of the company at fair market value. The term of the Consulting Agreement is for two years; renewable upon mutual consent.
On November 13, 2017, the Company issued 25,000,000 restricted common shares for $25,000 in share-based compensation that were valued at $95,000, or $0.0038 per share based on the market value on the date of issuance, and $70,000 was recorded as a loss on settlement of debt.
On January 2, 2018, the Company approved an increase in salary to $3,000 per month.
During the three months ended March 31, 2018, the Company accrued wages of $9,000 and paid wages of $12,000. In addition, Mr. Rushford advanced the Company $2,073, ($182 – December 31, 2017) and a payment of $2,225 was made by the Company to satisfy the funds advanced.
Is that standard? I'm new to this so haven't seen it before like that.
And there are other consultants too, Jump TV, BASI... OK.
Seems like this company is at the crossroads, either running into the ground or fulfilling huge purchase orders and blowing up. But I suppose everyone has been saying that... Let's see what the next PR brings.
Lot of talk about LBC.. but from the Q:
Inventories
The Company is a manufacturer of premium CBD infused holistic pet products and as such will maintain inventory on site. The company directly drops ships to customers when ordered. The Company has wholesale distributors that purchase products in bulk inventory.
Warranty
The Company is a manufacturer of products which are shipped to our customers directly from the company and as a result, there are costs that may be incurred by the Company under the terms of the limited warranty provided by the company directly to the purchasers. We provide provisions for obligations which may arise under manufacturer’s warranties and therefore incur liabilities. We warranty the product for packaging and shipping.
So... wtf is the deal. Who is doing the manufacturing...? Is this a clue that LBC may be joining with VTNL...?
Just noticed the $3mil exclusive distribution agreement with Gold Country Soap in the Q report, doing a little digging.
On February 23, 2018, the Company entered into an Exclusive Agreement for Distribution with Gold Country Soap Co. (“GCS”), whereby GCS will exclusively distribute on the west coast for the company’s CDB Products. GCS has committed to and submitted a purchase order for $3,000,000 of product at negotiable prices for a period of 24 months for distribution.
Found the announcement on their Instagram page, so looks like that is real. $3mil?! That's pretty good.
Their FB page has posts at least as far back as May 2017 so they have been around that long at least (does FB only give you access to pages up to a year?). Not much else on the web. Anyone else have anything?
Appreciate everyone's comments here, definitley a bear case being made.
when you say 'GDAX dumping', do you mean users of GDAX? Or are you saying something about the management or company itself..? tx
Yeah me too although stops etc do generate fees. But at least you can set limit orders! Coinbase gives you market prices, never quite as good as the price ought to be at the time.
But... what is the 'level 2' being referred to on GDax? Oh just the 'order book' I assume... never seen any sells below the ask listed above the line though. Am a bit confused on that post, Surfacetite...
I think you are talking about 2 different things
Wow. Do u have a link to story? Tx
What do you mean exactly? Thanks
Ok Capt Obvious
I assumed Asama has been buying for months