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So that's the standard? Doesn't matter if it's factual or accurate, as long as the SEC doesn't object it's all good?
For longs, that's the Mexus way.
I don't have to prove it exists. It's on you basement dwellers to prove it doesn't exist.
Not really. Timing of knowing ahead of others when these announments are going to be made is also considered insider info. Some people around here seem to portray they know the timing of when these announcements will be made too.
Pretend as they may, folks like to give hints they know more than what is shared in the PRs. Maybe it's all for show. For their sake I hope it is, becasue if it's not, there are real consequences that people can face for dealing with insider info. Just ask Martha.
How is it all these people know about potential news coming regarding gold sold and JV agreements signed?
For all those people's sake (and for PT's) I hope nothing gets announced soon. Otherwise, they may not get to enjoy the news while talking to the SEC about insider trading.
Then surely you can point to a phone number, physical address or e-mail address of record for IRMEX. Or is that priveleged information?
When the basement dwellers first started questioning the ability of Mexus that point was one of the cornerstone rationales longs used on why folks should invest in Mexus.
It was stated there was no need to waste time and money on reports to tell them what they already knew, that gold was there. The plan was to jump immediately into production and then once the proof of success was manifested through the undeniable results of mining gold the details of calculating reserves would then be done as part of a strategy to up list the stock (and paid for via production instead of financed through debt).
Unfortunately, that strategy hasn't materialized so Mexus is in a tough spot of having very, very limited quantities of gold produced, dependency on dilution to keep the cash flowing, and no reputable reserve reports to help sway new investors.
At least the company in Alaska knows if it has a level of reserves worth additional investment/effort.
Mexus has spent multiple millions, produced a negligible amount of gold and still has no insight on if there is any reserves to mine at a profitable level.
Uh... I've never claimed the website impressed me..... Never.
You were the one that brought up the website as an attepmted means to prove production.
Producing gold at a profit would impress me.
Speaking of website have you noticed they have not updated anything since November 1st? Not even the PRs.
Clean-up?! The link 8 referenced confirmed Git's point, that while similar, the SEC’s rules and those of CRIRSCO43-101 are not the same thing.
Regardless, Mexus doesn't have any techincal reporting that comes close to meeting either standard even though they've been claiming for multiple years to be working on producing such a report.
Becasue legally it didn't exist yet. It was jsut starting up.
Are you claiming IRMEX is a start-up? Mexus said they were "working hard to select a qualified mining company to do an exploration/option agreement".
To 1manband's point, if this is a well established "qualified" company, then they are likely incorprated and should have a paper trail of business filings that can be referenced.
Sole proprietorships and partnerships don't have to incorporate (however, partnerships must comply with licensing and tax requirements that apply to all businesses).
Sole proprietorships can file taxes under the owner's personal tax returns.
Regardless, if IRMEX falls into either one of these business categories, then it should make one wonder about the quality of the JV.
Mexus doesn't need another amateur partner. It needs someone experienced and reputable.
I'm also skeptical of the legitimacy and/or quality of IRMEX as a company. I've been involved in a number of M&A's where non-disclosures and LOI's were used. I assure you if the company we were looking to acquire released any of the information Mexus did before we had a fully executed agreement to purchase in place, the deal would have been immediately nixed by us.
As I said when Mexus first mentioned the NDA. The whole point of an NDA is that both parties are prohibited from discussing the potential action from anyone other than the select few individuals who need to know in order to carry out the transaction. NDA's are not for public dissemination they are put in place for the exact opposite reason.
Additionally, LOI's are not usually disclosed publicly (although I've seen times where they were). Mainly the LOI is put in place once a decision to buy (or JV) is determined. From there, the real due diligence begins and all of the information disclosed during the initial negotiations are verified. This is where details the selling company claimed (in this case Mexus) are verified for accuracy by the purchasing company. If the facts disclosed don't add up (Financials, P&L etc. - or likely in this case drill results, assays, ore reserve estimates etc) then the buying company can walk away.
In most situations both companies like to keep these stages of the conversation quiet. Instead Mexus broadcast every step. That, to me, comes across more as pump than a legit JV opportunity.
Talk about irony. Text book defintion right here.
Not sure what "growth span" you're referring too. Just because the leach pad is bigger or there are more bulldozers doesn't mean growth. In fact, so far it has meant an increase in debt and liabilities. That would be the opposite of growth.
I am not bashing in public and buying in private. I've played my hand and lost. I do feel compelled to present the counter-argument to some of the opinions shared around here. Just like some around here want to use their previous knowledge and experience about their involvement in other mining projects, I think it is important to share my previous knowledge and experience about how Mexus' PRs aren't always what they seem.
If the basement dwellers opinions are so obviously wrong then their statements could easily be defeated with facts. Instead they are faced with the ridiculous responsibility of proving a negative.
Long-term people will claim Mexus is a successful company because bnamericas did thier own due diligence and published an article about them. When basement dwellers point out the article was only a lightly modified reprint of the company PR, the basement dwellers are told to prove that bnamericas doesn't do their research.
Long-term investors like to point to the claim Mexus has made about 1 million gold oz in reserves. When basement dwellers point out there is no drill data or accredited reports the basement dwellers are not told to prove the reserves don't exist.
So I stand here today and tell you all I too have a successful mining company with gold reserves of over 1 million ounces in my back acreage.
While logic should tell you that scenario is not likely accurate, since none of you have visited mine site and never talked to me in person, you have no right to be critical of my mine and should not opine otherwise you have ulterior motives.
Long-term investors like to point to the claim Mexus has made about 1 million gold oz in reserves. When basement dwellers point out there is no drill data or accedited reports the basement dwellers are not told to prove the reserves don't exist.
So I stand here today and tell you all I too have a successful mining company with gold reserves of over 1 million ounces in my back acerage.
While logic should tell you that scenario is not likely accurate, since none of you have visted mine site and never talked to me in person, you have no right to be critical of my mine and should not opine otherwise you have ulterior motives.
Again.... No my math isn't wrong.
If you want to claim you haven't lost any money because you've been able to buy-low and sell-hi constantly over the last 10 years, be my guest. But the odds of that actually happening are almost impossible given the constant downward trend of this stock.
Since the last big run up in 2016 before the Mar Mar debacle was exposed, there have been no significant bumps in price except for the 1 day spike earlier this January.
Anyone doing a buy-low sell-hi strategy based on the whims of the day-to-day ups and downs would have been trading on spreads of a half penny or less and on really low volumes. I'm extremely doubtful anyone executing that strategy has come out ahead.
My math is spot on. It wasn't a guess on what you personally bought. Just an overwhelming statement that shows you'd have to have an almost perfect buy-low sell-hi record in order to have not lost money on this stock. And realistically, nobody's record is that good.
Anyone who's played the buy-low sell-hi game with Mexus over a 10-year period has lost money. There are significantly more downs than ups. To claim otherwise would only hurt one's credibility.
To further iterate my point. Assume an individual bought $100 of Mexus stock on January 1st of every year over the last 10 years. Below is a breakdown of what you would own today.
Date             Amount     Share     # of Shares     Post R/S # of
Purchased     Spent     Price     Purchased     Shares Owned
1/1/2012     $100     0.0760     1316                 66
1/1/2013     $100     0.2500     400                 20
1/1/2014     $100     0.0696     1437             72
1/1/2015     $100     0.0249     4016             201
1/1/2016     $100     0.0022     45455         2,273
1/1/2017     $100     0.1150     870                 43
1/1/2018     $100     0.0500     2000             100
1/1/2019     $100     0.0092     10870             543
1/1/2020     $100     0.0032     31250         1,563
1/1/2021     $100     0.0231     4329         4,329
1/1/2022     $100     0.015     6667     6,667
Total spent $1,100 # Shares owned 15,876
15,876 shares at $.007 = a present investment value of $111.14
There is no way you can be ahead on any stock purchased prior to October 2020. No matter what price you bought at.
The only way you can be ahead post reverse split was if you sold in the rally that happend on Jan 3rd. Otherwise, your neutral to lower. You can't buy low and sell high when theres only been one (more than nominal) price increase in the last 18 months.
True or False -
Think back over the last 10 years to each time you made a purchase of Mexus stock. Now, instead of buying stock what if you had went to Vegas and bet that same money on black everytime. You'd likely have gained more wealth betting it on black over the years than what you currently have wrapped up in Mexus stock.
No. It seems that many longterm shareholders who have claimed to have done their due diligence really haven't.
I wonder if these same publications and their "on the ground field experts" also reported on, "analyzed", and utilized their "contacts" to go "beyond" the news when it came to the legitimacy of the Mexus & MarMar joint venture?
Great! So in that article, what details did Bnamericas provide on Mexus that was BEYOND the news provided by Mexus?
I'm not familiar with Bnamericas or what other content is included in their subscription besides the article in question. I do subscribe to other investment newsletters related to gold.
If any of those newsletters only passed on lightly modified PR information given out by the company as their source of information I'd drop that newsletter in an instant.
In this circumstance if the newlsetter did it's own filtering, I'd expect the newsletter to divulge some of the findings of their research/vetting to either corroborate or dissent from the company’s claims. Otherwise what's the point of paying someone to read information you can get free on the company's website?
Market cap is calculated by multiplying share price by the number of outstanding shares (not auhtorized shares).
Approx 300 million in outstanding shares times .0069 = approx $2 million market cap.
Only if it can be verified as accurate and not some vague bit of information that conflicts with information given in previous PRs.
At this point in time, claims from the company in PRs have limited impact as most investors are wise to Mexus knack for overstating reality. If any bump does occur, it usually drops back down to previous price levels within a week or two once reality doesn't match-up with the claims.
Make no mistake, if Mexus can produce what they claim to be able to produce share price will increase nicely. But that's the rub. So far most of their claims have either not come to fruition, exaggerated or flat out deceptive.
Looking to the possibility of the future is nice, but historical perspective should teach you to be cautious about what is being claimed.
Wxdog, you of all people know that semantics matter with Mexus. They like to flirt with ambiguity and create implications that may or may not be there.
In your post the term, "Paid" off" is an ideal example of the struggles between the longs and basement dwellers. The longs will argue that it is technically correct to call the loan "Paid off". The basement dwellers contention is "paid off" infers the company settled in cash. In their eyes a more appropriate term would be the loan finished conversion.
Neither side is wrong. But in my opinon those details matter to folks looking to invest. A company that pays off loans wth cash on hand is, in most cases, on stronger financial footing than a company that pays off loans via stock conversion or using new debt obligations.
I look at it this way if I used my Master Card to pay the balance due on my Visa card, I didn't pay off my Master Card debt, I simply transferred the debt to a different creditor.
Any idea how the note was paid off?
According to yesteday's PR the carbon filters were still waiting to be shipped.
Hoepfully its not like the time they announced a loan payoff, only to find it was paid off by taking on another debt obligation.
Well that would be the dumb way for Mexus to elect to calcualte/pay cross border and import taxes.
According the assays of thier first shipment they were supposed to have over 4000 grams Au equivalent (128 oz). It ended up only having 76.5 oz of sellable gold. In this example Mexus would have paid taxes on over 128 oz of gold. When all that ended up being smelted was 76.5 oz.
Why would a company choose to pay taxes on more gold than was actually recovered/sold?
Just based on today's low of .0051 the conversion price would be .003315.
At that price that's a little over 30 million in shares to cover $100,000 of loans.
If you started buying Mexus Stock 10 years ago, then you've already lost your shirt with very little chance to recover those losses. I thought you had previously indicated you were relatively new to Mexus.
If..... If all of those events pan out, then yes, you are correct things could turn around quickly.
However, based on past performance, those are pretty big Ifs.
What were the fundamentals of the companies behind those 2 stocks? Legit news and actions to help sustain/verify the jump in price, or was it all based off of chart movement and speclation/pump?
Power-Up made some bank on this conversion. Acquire around .0039 and sell at .01-.02.
Not sure I'm on board with MM's being responsible for bringing up the price that much. That's a pretty big run up. There was likely real buying happening. In my opinion that buying is still premature given the continued generic and vaguely worded PRs.
Someone mentioned the jump in assay numbers – it’s those kind of claims that continue to be huge red flags. Historically, the results that actually follow never seem to reconcile with the values claimed in the PR. Maybe I could have been convinced the numbers are improving if the activity/results of the carbon filters allegedly sent to the refiners hadn’t been so cagey and vague. But when you combine incomplete and unsubstantiated reporting on the carbon filters with a sudden jump in assay numbers, it seems more probable to be a continuation of exaggerated claims than a true increase in “production”.
Then there is also the question of what LOI really means. Remember this doozie from 2018?
Also, an LOI would be a material event so I'm sure and 8-k is forthcoming.
It's been over 10 years. How long does it take to prove reserves?
Yes... of course Mexus timed it perfectly to sell it on Friday the 17th between 8:00am and 3:00pm at max price just in time to report it this morning. Heck they're so good they probably sold right at 8:15 am when the price spiked.
Kind of like everyone around here claims to have made money on this stock even though it has lost 99% value becasue they all new exactly when to buy at the lows and sell at the highs.
How do you know the PM was from the carbon? That wasn't shared in the PR.
You asked for facts to be presented about the toxic loans being taken on faster and in higher amounts. You were shown where those facts can be found - as presented by Mexus - not some poster's opinion and you refuse to accept them. It's not my story. Mexus is the one reporting the toxic loan dates and amounts.
My hope is you're trolling and not really wearing blinders.