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IMO, this is what is going on with the stock. I have been in this stock since the late Summer of 2012, so have experienced all of this firsthand.
The 1st run on an expectation of gold production happened back in the Fall of 2012 when the stock zoomed up to almost 0.60. The run on the 2nd expectation of gold production (the announcement of the JV with MarMar) took the stock only up to 0.23. The 3rd run due to PR announcing that gold was smelted (turns out it was a seriously tiny amount) only took the stock up to about 0.09.
With each run and subsequent disappointment due to a lack of followup news to confirm something is really happening the shareholders get more and more skeptical.
We are definitely in a "show me the money" state now, with long-term large position shareholders holding but no longer buying in any substance. The only thing that will really move this stock for good (no giving back temporary gains) is a PR announcing the sale of X ounces of gold. Any of the many vague, forward-looking type PR's we have seen for some time now will no longer have any substantial effect.
JTrox,
Your points #1 and #2 are possibly positive bits of news. But there is no way to confirm 100% they are true on the ground. So I go back to my point that the only good news shareholders can receive that matters is absolute confirmation of a gold pour and sale of X ounces of gold (followed up in the next quarterly filing with real financial numbers).
As to your point #3, curious to know who all is visiting the mine site this week. Some folks from the private board? They, of course, will not be able to confirm any gold pour (doubt that would happen while they are there). But they can confirm as to the state of the project on the ground.
But the bottom line now is a PR confirming gold poured and sold. That is the only thing that is going to move this stock up for more than a few hours or days.
Shotgun, what happened to the 3's and 2's you have been predicting for the stock? The stock has actually appreciated of late.
The horse is dead.
The PR released late last night was really not much different from any of the previous PR's. Not much to get excited about. You can tell me how much gold you think is in the heap. But it really doesn't matter unless MXSG can figure out how to extract it and sell it.
Sure we had a temporary bump today, just like we experienced in the wake of the last PR (which actually had a much better temporary bump). By end of today we were back down to basically where we were the previous day.
The reason is quite simple. MXSG hasn't figured out yet how to extract the gold from the ore. I have been saying this for months on end. But until we get word of actual gold sold (successful extraction) this stock is going nowhere.
I am hopeful that MXSG will eventually get it together. How long will it take? I have given up on that prediction. But I am tired of announcements of "imminent production." (Remember, we were promised in the last PR that we would be in production as of the 2nd week in November.)
Delays are certainly to be expected in the process of getting a mine into production. But the multitudes of promises of imminent production from this company have gotten pretty annoying.
BTW, this may be day 1 of week 3. But keep in mind there has not even been a confirmation yet that the new MC has made it across the border, let along put into production.
FYI, DJ, the same is the case with me. I was referred to GORO by a friend of mine who used to be heavily invested in the markets. Got in pre-production and, as I continued my DD, ended up loading up the boat (and truck and everything else). Went to several of the annual shareholder meetings to meet with other heavily invested shareholders. Eighth was there as well, but we don't see eye to eye, so no communication with him. Made a killing, although I waited longer than I should have after it hit is $30+ high and started a slow downdraft.
Hoping for the same here with MXSG. As much as Eighth and I are on different pages, I will say that he knows the mining business very, very well and does not invest his money in flash-in-the-pan operations.
No one should get excited about the upcoming 10Q numbers in November. They haven't started producing gold, so the numbers are going to be unremarkable.
And she most definitely needs help in her communications class.
Yes, I bought on September 11th. But with no followup or communication whatsoever from the company since then, I am most definitely in a show me state.
The issue with Ken Azuka (sp?) getting caught with his hands in the cookie jar was sometime in 2013 I believe. I would have to research it more closely to provide a more exact date. But honestly I am beat from a very long weekend and don't have the will to do so. There is likely someone on this board who may remember the more exact timing of that.
Agreed, DJ. Something is not right here. The stock shot up to over $0.60 back in 2012 on anticipation of production and then started a 3+ year long decline to sub-penny. It then ballooned again to $0.23 last December on, guess what, anticipation of production and has subsequently declined by over 75% to where it is today.
MXSG released a PR earlier this month stating they produced "gold in dore form" and further stated they had between 2,000 and 4,000 ounces of it. Yet, the stock has done nothing since but continue to decline. No spike whatsoever, except for the day of the announcement. Whoopie.
In the past 3 weeks there has been no update, no confirmation of gold actually sold, let alone how many ounces. The shareholders are being told they have to wait until mid-November to get details on the financials? Yes, something is not right with this. Or even if nothing is amiss, it is sure not a way for a company to be treating its investors, many like myself who have been invested for over 5 years in this enterprise.
As I have stated before, I am in a "show me the money" state. And I am not alone. The company has used up its good will with me. I will not purchase another share of stock until such time they release a PR stating the number of ounces unequivocably produced AND sold.
That PR could come tomorrow or next week or next month or never. Unfortunately, all of the above are possible outcomes.
My point is simply that pretty much everybody who is long this stock is not buying right now until they get confirmation of revenues. That is why there is no buying pressure. Won't be any until we get real news.
Where is your 3-cent prediction?
Don't forget, there are many shareholders here who picked up lots and lots of shares when the stock was sub-penny back in Feb of 2016. Could be taking some profits off the table.
Thought I would reference a quote from another poster from yesterday.
"You guys are wrong, MXSG is headed down to 3 town..remember i was right when I said MXSG was headed to 4 town...MXSG is the worst gold stock on the exchange and will soon be history."
For me, a double would be too much too fast today. I would rather see a solid and steady rise over the next days and weeks. Not too worried, though, whatever happens. The amount of gold and silver estimated in the PR is quite substantial. So when we get actual financials in the next 10k, they ought to be pretty sweet.
That was me. Bought another 100,000.
MXSG doesn't have any need for financing.
As far as I am aware, there are no private placement shares available. Doubt there will be any more private placements either.
Don't blame the 75%-80% drop in the stock price form its highs last December on "weak hands" or shareholders who are impatient. Blame the drop in the stock price on the fact that the company put out expectations for a first pour end of December and missed their target ... and has yet to make good on the promise of a first pour 6 months later.
That's why the stock is where it is at. If the company had been able to reach the milestone of a first and second and third pour, we would not be here at $0.06. Has nothing to do with shareholders and everything to do with company performance or the anticipation of company performance.
You make a good point. I would likely agree with you, if we hadn't had the history of over-promising by PT and MarMar this past year. Remember back in December 2016 when PT declared we would all have a very Merry Christmas? And there were more promises about the first pour along the way after that. That or we got no communication at all from the company.
Yes, it is better now having regular communications from the company. However, most longs I feel are like myself and in a "show me the money" mindset, rather than a "first pour is imminent so let's buy while we can" kind of mindset.
The market shows that. As you say, maybe there won't be much of a pop even on the actual news of a first pour. It might take more than one pour to establish the operation is truly moving forward and producing a profit.
We shall all see. I have bought all I am going to buy and am in "wait and see" mindset. I haven't sold anything. But I am not buying any longer either until I can see proof of profits.
The only PR that will be important is the one which announces details of a true first pour with tonnage processed and ounces sold. Everything else is just "waiting for the fat lady to sing".
The market obviously agrees with this, or we wouldn't be down 10% on the day.