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Held upside down to a mirror and still makes no sense. None to chat up so make some great stuff up as own reply. Yeah, thas it! Yeager was an 8 Ball too, didja read? Just not sick, dead at 97.
I am though a life Member of Disabled American Vets. They came to me in that Jan '77 neurosurgery ward as my 1st visitor and represented me at both Medical Courts for temporary medical retirement Oct '77 and in '78 permanent combat disability retirement. Were also my legal advisor for Social Security Disability Administrative Court twice after Reagan dumped all disabled into mass rehearings with no payment until reaccepted for disability after broke for 6 months back in 1/2 base pay USAF retirement. Congress made sure that could never happen again only by POTUS decree. Was hard to admire Reagan after that one for some time. But DAV are the best Vet assist people going. Never needed to attend a local meet for great service 43 years now.
Ready crew seem unaware I have no "Veteran buddies" and belong to no active groups of vets. Most pre '73 vets enlisted alone by reporting to an Induction Center for Selective Service draft number when called by a local board. Near ALL separated alone again to civilian status some fashion. Mine was a forced Combat Disability Medical Retirement Board at USAF largest hospital Wilford Hall Med Cntr Lackland AFB TX, I spent 9 months there Jan - Oct '77 as a neurosurgery patient while worked up by operation and recovery to try to get me all working again. A failure as it turned so it was a swift out 17 years svc on 50% base pay no 20 years retirement earned. One day are all on your own little to no assistance go see friendly VA. Any exploration mining investor born before 1955 had a military obligation if healthy and I've no control who was or was not a veteran among many hundreds involved over 20 years of such activity. I'd sure get my faked story straight while possible no liability still. Sad is? Grasping at any straw as Mexus eventually grows up to production by any involved any civilian status now. No such veteran affinity test needed for millions upon millions until Draft ended in 1973. .
"pumping shady mining operations like Mexus to veteran buddies".
Got self back to Rule of Test Mine Exception? When in convoluted doubt? Scream, shout, run about the basement! Mexus picks one way very simply stated and so far SEC agrees. Lost facts, case, and law, Industry Guide, SINCE 1934 BTW not next July.
"Operating Expenses
Total operating expenses decreased to $764,793 for six months ended September 30, 2020, compared to $1,253,135 for the six months ended September 30, 2019. The decrease in operating expenses was primarily due to the sale of gold, a decrease in general and administrative expense and a decrease in stock-based expense.
32
For the six months ended September 30, 2020, the Company had recoveries from the sale of gold of $131,911 compared to $0 for the six months ended September 30, 2019. Sales of gold are reported as a reduction of exploration expense in the consolidated statement of operations since the Company is in the exploration stage."
Decade back Gold Resource chose another, revenue from sale of mineral concentrate powder to refinery for production.
Then in 2013 Mexus San Felix claimed revenue from Elena placer and Exploration Re-Entry whatever that is from PM pours. NO SEC COMMENTS AT ALL. Different strokes from different folks proving VERY LITTLE.
"Revenue
For the year ended March 31, 2013, we had revenues of $1,158,742 compared to $239,911 for the year ended March 31, 2012. We recorded revenues of $1,419,653 for the cumulative period from September 18, 2009 (Exploration Stage Re-Entry) through March 31, 2013.
The revenues of $1,158,742 for the year ended March 31, 2013 are from our gold mining operations in Mexico. While the Company is in the exploration stage we are earning revenue from placer operations and experimental mineral processing to help fund our exploration activities."
As a relative newbie exploration mining fresh unlearned? Must again repeat those were gold nuggets placer washed by the brothers for family 45% of profit under a separate contract later rescinded for fairly obvious reasons. Few ever make attempt to ever drill up a minable resource in near pure alluvial soil otherwise from 92% grade nuggets sold to local dealers. We're told how easy they are to hide in the washes which of there are none in the shallow sloped lower valley quartz stock work zone.
"piney wood folk palaver
Some folks confuse this kind of language with honesty. A good old Texas boy wouldn't lead you astray, would he?"
Seems a bit like
"The Rule of Law: 1. If the facts are against you, argue the law. 2. If the law is against you, argue the facts. 3. If the facts and the law are against you, yell like hell on linguistics from an Arizona basement.
Guess what to lookie? Folks for years deny SEC accepted Industry Guide exception test revenue accounting?...show obvious little exploration mining understanding yet continue in advising on line small private investors
while proven frauds by plainly filed SEC documents. Lie once of importance? To be believed we are told right here time and again never. Pick yer crooked dealer. I've done mine.
Lookie that. Reiteration of strangely claimed non-existent exception to Industry Guide test mining revenue as non asset. How can that possibly be when so many know impossible and constantly tell us here for years. Strange, very strange.
"Operating Expenses
Total operating expenses decreased to $764,793 for six months ended September 30, 2020, compared to $1,253,135 for the six months ended September 30, 2019. The decrease in operating expenses was primarily due to the sale of gold, a decrease in general and administrative expense and a decrease in stock-based expense.
For the six months ended September 30, 2020, the Company had recoveries from the sale of gold of $131,911 compared to $0 for the six months ended September 30, 2019. Sales of gold are reported as a reduction of exploration expense in the consolidated statement of operations since the Company is in the exploration stage."
Counselor Mason then noted Paul Drake signaling from front row and asked for short recess conference with his lead detective.
"Perry, object with incompetent, irrelevant and immaterial to the case". Drake handed him this World Gold Council press release which Mason quickly read.
Mason: "Judge Jeanine, please enter this into the record and order dismissal on all charges. This is a WGC official NON GAAP advisory volunteer only non required metric. SEC as, WGC member only, reserve is a non matter. As a test m1mer new operation it gits even deeper into NON GAAP metrics best as yon can provide in all SEC accepted filings".
https://www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs
Judge Jeanine:"All charges dismissed. Defendant Thompson free to go".
Light applause, hugs and kisses. Fade to black. Main theme.
OH WOW! Long last admitted discovery of test mining no resource exceptions!
"The dirty little secret nobody wants to talk about is that in order to get an "all in cost" per ounce you need to have an estimated reserve to know how many ounces to use to offset the costs."
"Bring in the clowns? Don't bother, they're here."
let's see Gold Resource again when still a non resource test miner trail blazer.
For the fiscal year ended December 31, 2012
Ounces gold
1,774
Average cost per ounce
$1,683.08
So it seems at least an avg cost after silver and base metal revenues applied CAN be determined. Now how's that happen. I think a whole bunch not understood occurs here never explained. BUT least finally discovered exists in a test miner.
Not current last 2 weeks. Milling fragile crystals halted for wash table riffling been on site last decade since brothers ran stockwork zone nugget product '10-'14.
CABORCA, Mexico, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) is excited to announce that phase 1 construction of its new heap leach pad is nearing completion. The new area will be ready for the liner by November 1st and have mineralized material placed by November 15th. Mexus expects the new leach pad to be producing gold by December 1st.
The company continues to separate the high grade chloride material from the existing leach pad with approximately 3500 tons having been removed. The ball mill is having difficulty running some of the material as it turns to mud during the process. The solution is to use a screen wash plant which Mexus already has on site. The recovery of the gold from this material is expected to take 45 days.
“I want to remind Mexus shareholders that we are entering into a period where three different gold recovery systems will be operational. In the near term we have the screen wash high-grade chloride material being processed. The company will also have its new heap leach pad in place and will be running high grade quartz material through our ball mill system.” added Mexus CEO Paul Thompson.
Truly fortunate we. Decade old alternate tasked reused nugget wash table board still able the draw out fragile rarest form crystalized gold from otherwise heap base mud; ready to use "decrepit rusted out ball mill" able to again take on over 10 gram over ample supply high grade quartz vein gold; MC process with a prepared new leach pad may no longer need carbon electrowinning from an any adjective selected high assay pregnant pond; Mgt feels by Jan '21; production income, no debt, operation will again allow Ures claims to be reopened to see if VAT succeeds or not no longer necessity abandoned. . Wonder is to have such historians to remind how far along on success pathway since filing for court decision to send 50% operating partner, contract violating MarMar packing from Elena for good. Matter of count yer blessings instead of faults. Move along near always works in time patience applied. Thanks for the memories.
Re: Nothin to see?
Post
by 8thaero » Thu Oct 22, 2020 4:10 pm
Kinda amazin about way to not run a ball mill that's not running. Do they read posts? 2 silly photos of nuthin much makes a great week of nonsense concerns what occurs that aint happening. "Off with their heads", said Red Queen. "Where are those tarts?"
Re: Nothin to see?
Post
by 8thaero » Fri Oct 23, 2020 2:02 pm
Call it just 60 ton nominal mill, is 30 small loaders at 2 tons continuous daily into the bin but the input is the scoop wheel long as the mill turns. That's relative dry crushed pebble ore fresh water lube added but the DREADED GOOP is the silver chloride holding gold crystals as only product from the drained off slurry take that where it can safely go by pump from easy lined holding tank near mill. Absolutely no toxicity process mentioned but like the Mexican Govt don't give a crap? Julio ( ole buddy Garcia) would drone to scream bloody murder and trespass. Recall the dedicated horse well? Cost me $50K to give the big finger. Now is that $1,000,000 or only $2,500 RS?
Splash that backside in Clorox which would have been handy.
"my backside ..it's caked with slurry..cyanide laced slurry."
"Cyanide gas evaporates and disperses quickly in open spaces, making it less harmful outdoors. Cyanide gas is less dense than air; so it will rise".
Wonder why heap operators can say "Love the tang of cyanide in the morning?"
.
Total BS! Yes was a danger , MUD SLIPPERY AREA FORMING!!!
BUT someone wisely controlled by making a quick crude plastic collar wired in place , dug a small puddle that we see dried up in maybe 8-10 feet of desert soil. The bottom 1.5 of the heap was exposed to open air neutralizing any small amount might be contained in the pebbles just as any proper heap operator does daily. If not? Ever handy bottles of mom 's bleach set out all around any cyanide use is 100% any spill safety. That wash cyclone return line should be looking clean and neat but a sprung leak let the solids along with returned wash out in the air. Give someone an "AT A BOY Award" !!!
Very obvious nonsense means few have an awareness of the mill operation. Shut down before day's 60-80 ton run is simply is lost gravity recovery of GOLD so keep it i running safely . Been there done that. Any other raise a hand?
Memory? Years of false opinions. Why not post easily known facts? Guess what....much less.
June 10Q
Total operating expenses
266,059
Catching on slowly;is an 80 times reduction. Quick logic seemed 20 times LESS would equal original with 80 times gone. True but as percent = 95%. Strange but true. 99-1 RS leaves you down 99.9899%, still is 99 times reduced, .0101% left. A grasp at odd reasoning if not yet near nanotec
I confess to have been wrong BY correcting obvious nonsense math, BUT ONLY by 15% ( 95% not 80% ) To crow about being 75% more in error? 20% less not 95%? This is the Nutz Ball League World Series. OK , YOU were awful wrong before I was some in correcting an obvious serious error could break some investor to follow as usual. Now playing the corner card table Monte where's the 95% less 20-1 shares? Cheezit! The cops showed up, me first!
Me
Thursday, 10/15/20 02:03:47 PM
You
Thursday, 10/15/20 11:59:48 AM
Where was youse 3 hours 75% deep in error?
"Anoyone" is a bit of an annoy to even a creative linguist. Goes round comes back attcha. When facts fail? Weak arguments attax it with syntax.
My '30' for the 24.
Someone a week later thinks a 20-1 RS reduces issue by just 20%? Then someone must owe me 23,250,000 taken in error. Whew! Saved by basement experts! Try another preposition, "to" not "by" and explain the entire matter clearly. Prof Hill sings "Gotta know the Territory". Capital T rhymes with P and stands for 80% POOF!
"Are the amount of shares possessed by the lenders also reduced by 20%"
Three in one, great slippery stuff
"Are you suggesting that the supply of shares is way down, therefore, the price must go up?"
Do realize supply has NOT declined but has increased now to 4.9 billion of the 5 billion authorized?. Posted nonsense as always. May or may not affect anything except issued.
"Argo did the drilling then quietly bowed out after getting the results. "
Sorry,but we have NOTED you were never around for a rather nasty, non-quiet withdrawal with very little Argonaut assist with ANY official comments 3 days too late for 30 day notice Dec 3 but accepted by Mexus as good riddence to a new "deathly afraid of precipitous POG decline " we Agronaut share holders were informed by Argonaut BOD Dec '15.conference call. Ever listened in? .One GREAT reason provided? IMMMEDIATE need of $45 million to advance Magino projerct awaiting development, non permitted still today 5 years later! OOPPS! Never knew or just forgot never knew? Try SOME fact!
https://www.timminstoday.com/local-news/argonaut-gold-raises-serious-money-for-magino-mine-project-2593318
"And some goofy story about salty gold."
Goofy? As always just an opinion easily disproved, then will be denied as usual "I never said that".. Try this link and see who' s the major subject of a BING search.
https://www.bing.com/search?q=result+of++salt+added+to+cyanide++gold++heap%2Cleach&form=ANNTH1&refig=6f0aba55d5564065ae2ecb2dea9ba14f&sp=-1&pq=result+of+salt+added+to+cyanide+gold+heap%2Cl%3Beach&sc=0-48&qs=n&sk=&cvid=6f0aba55d5564065ae2ecb2dea9ba14f
"they're doozies.....together about $180K worth."
95 OZ 60 days? How's fer 480 oz?
As ever? Always welcome to blog where more than one long dated topic is posted over and over. They are looking for CEO guidance next on 8 oz daily, 4 in a heap where poluting gold is removed at profit and above 10 gram assay ore comes as own 4 oz gravity separated near PURE in an 1860 's leather belt poke offed to Fell Refinery. LA, CA. 8 X 60 = 480 X 1900 = $912,000.
"no need to do studies when you know the gold is there, just start producing and the rest will take care of itself" Whatzat?
OPPS! Bit dyslexic? That was the quoted post of the user had no working awareness of Mexus JV history. 20% share Argonaut. Contract was for FULL THREE YEARS $FIVE MILLION DRILL PROGRAM STUDY... NOT THE SIXTEEN DRILLED AND SKIDADDLED awaiting "In better times" Like now and about ever since Jan '16 low
Here, do READUP! and perhaps down. Erroneous post quoted was
"And now the rest of the rest of the story...
Mexus was created under the premise that feasability studies didn't need to be done, The proof of concept would be actual mining results. (I.e. no need to do studies when you know the gold is there, just start producing and the rest will take care of itself)."
Mexus contracted full drill study program as of July 2015.
"On July 6, 2015, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company (“Mexus”), entered into an Option and Joint Venture Agreement (“Agreement”) with Minera Real Del Oro, S.A. De C.V., a wholly owned Mexican subsidiary of Argonaut Gold, Inc., a Canadian gold company engaged in exploration, mine development and production activities (“Argonaut”). Pursuant to the Agreement, Mexus has granted Argonaut an exclusive and irrevocable option to acquire all rights to Mexus’ mining concessions located in Caborca, Mexico, Sonora State described as the Marta Elena, Julio II-VII and Mexus III Claims (the “Mining Concessions”).
According the Agreement, Mexus will transfer its Mining Concessions into a newly formed Mexican Company (“Newco”), and Argonaut will have the sole option to purchase up to 80% ownership of Newco in accordance with the terms of the Agreement. The initial option period expires on December 31, 2015.
A summary of Argonaut’s required payments to Mexus for the option and required expenditures relating to the Mining Conessions are as follows:
1. Argonaut will make a cash payment to Mexus of US$75,000 upon execution of the Agreement plus incur required expenditures relating to the Mining Concessions of not less than US$300,000 by December 31, 2015.
2. In the event that Argonaut desires to extend the option period to June 30, 2016, Argonaut shall pay a cash payment to Mexus of US$125,000 plus incur required expenditures relating to the Mining Concessions of not less than US$500,000.
3. In the event that Argonaut desires to extend the option period to December 31, 2016, Argonaut shall pay a cash payment to Mexus of US$350,000 plus incur required expenditures relating to the Mining Concessions of not less than US$1,000,000.
4. In the event that Argonaut desires to extend the option period to December 31, 2017, Argonaut shall pay a cash payment to Mexus of US$400,000 plus incur required expenditures relating to the Mining Concessions of not less than US$3,300,000.
5. Argonaut is responsible for paying all land taxes, annual concessions or permit fees and the monthly lease of US$1,000 during the term of the Agreement. In addition, prior to July 6, 2016, Argonaut must expend a minimum of US$600,000 in expenditures relating to drilling Reverse Circulation and/or Core or a combination of both drill holes in relation to the Mining Concessions.
6. At any time prior to December 31, 2018, Argonaut may exercise the option, provided that it has incurred minimal expenditures on the project of US$5,000,000 and made cash payments to Mexus equal to US$950,000.
Once the option is exercised, Argonaut will hold an 80% interest of Newco and Mexus will hold a 20% interest in Newco. All mining operations will be funded by Argonaut at no cost to Mexus. Newco will be managed by three board members, one of which will be Mexus. Argonaut reserves the right to terminate the Agreement at any time with 30 days written notice provided that the required payments to Mexus have been made in accordance with the terms of the Agreement."
SO... this applied
"Argonaut reserves the right to terminate the Agreement at any time with 30 days written notice provided that the required payments to Mexus have been made in accordance with the terms of the Agreement."
Took the 30 day emergency exit on 3 Dec '15 in fear of POG plummet as was told to Mexus owners of Argonaut shares in conference calls.
So used to faulting Mexus it pops up even when innocent of the major criminal acts last decade. Some feel Jury's still out on death penalty sentence due bad averagng just one user's opine? SEC flat missed therm all? Call a cop!!
Supposed to mean something per hour Caborca time?
"Besides share value would need to get to at least $2.00/hr"
"And now the rest of the rest of the story...
Mexus was created under the premise that feasability studies didn't need to be done, The proof of concept would be actual mining results. (I.e. no need to do studies when you know the gold is there, just start producing and the rest will take care of itself)".
How can this equate to the planned 3 year, $5 million drill studies as 20% JV with Argonaut July 2015 or do I just read the history all wrong as "didn't need study just begin producing" instead as 20% JV of all above? Seem strange to conclude?
"On July 6, 2015, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company (“Mexus”), entered into an Option and Joint Venture Agreement (“Agreement”) with Minera Real Del Oro, S.A. De C.V., a wholly owned Mexican subsidiary of Argonaut Gold, Inc., a Canadian gold company engaged in exploration, mine development and production activities (“Argonaut”). Pursuant to the Agreement, Mexus has granted Argonaut an exclusive and irrevocable option to acquire all rights to Mexus’ mining concessions located in Caborca, Mexico, Sonora State described as the Marta Elena, Julio II-VII and Mexus III Claims (the “Mining Concessions”).
According the Agreement, Mexus will transfer its Mining Concessions into a newly formed Mexican Company (“Newco”), and Argonaut will have the sole option to purchase up to 80% ownership of Newco in accordance with the terms of the Agreement. The initial option period expires on December 31, 2015.
A summary of Argonaut’s required payments to Mexus for the option and required expenditures relating to the Mining Conessions are as follows:
1. Argonaut will make a cash payment to Mexus of US$75,000 upon execution of the Agreement plus incur required expenditures relating to the Mining Concessions of not less than US$300,000 by December 31, 2015.
2. In the event that Argonaut desires to extend the option period to June 30, 2016, Argonaut shall pay a cash payment to Mexus of US$125,000 plus incur required expenditures relating to the Mining Concessions of not less than US$500,000.
3. In the event that Argonaut desires to extend the option period to December 31, 2016, Argonaut shall pay a cash payment to Mexus of US$350,000 plus incur required expenditures relating to the Mining Concessions of not less than US$1,000,000.
4. In the event that Argonaut desires to extend the option period to December 31, 2017, Argonaut shall pay a cash payment to Mexus of US$400,000 plus incur required expenditures relating to the Mining Concessions of not less than US$3,300,000.
5. Argonaut is responsible for paying all land taxes, annual concessions or permit fees and the monthly lease of US$1,000 during the term of the Agreement. In addition, prior to July 6, 2016, Argonaut must expend a minimum of US$600,000 in expenditures relating to drilling Reverse Circulation and/or Core or a combination of both drill holes in relation to the Mining Concessions.
6. At any time prior to December 31, 2018, Argonaut may exercise the option, provided that it has incurred minimal expenditures on the project of US$5,000,000 and made cash payments to Mexus equal to US$950,000.
Once the option is exercised, Argonaut will hold an 80% interest of Newco and Mexus will hold a 20% interest in Newco. All mining operations will be funded by Argonaut at no cost to Mexus. Newco will be managed by three board members, one of which will be Mexus. Argonaut reserves the right to terminate the Agreement at any time with 30 days written notice provided that the required payments to Mexus have been made in accordance with the terms of the Agreement."
SO... this applies
"Argonaut reserves the right to terminate the Agreement at any time with 30 days written notice provided that the required payments to Mexus have been made in accordance with the terms of the Agreement."
Took the 30 day emergency exit on 3 Dec '15 as was told to Mexus owners of Argonaut shares in conference calls..
ACTUAL REST OF STORY? MEXUS OWNS 100% of a current producer. Had to go it alone no matter how it transpired, good bad or indifferent Took some of each, of recent mostly bad. Future now awaits decisive more clear sailing Mexus hopes to see into 2021. Pad even cleaned of gold crystal contamination and ball mill in operation all assay above 10 grams.
"gold crystals are a conspiracy theory too. I am not so sure. We will know soon. Geraldo on the job.".
Golly., O.J, did Geraldo hear the thump on the guest house wall? Did someone say, "My serrated precious?"
"electrowinning does require boiling water. Well, near-boiling"
Yep, if from cyanide leach in pressure vessel washing off the carbon to solution for recover. But this crystal gold will be gravity separated from the gravel pebble dross as near 92+% pure with 95% recovered.
But are we back to cyclone air washed nuggets non- Guide 7 test mining as an ASSET banked to treasury not just ore production cost reduced?
AMAZING NON-PREGNANT POND ASSAY!
Now have 2500 cubic meters to mine for 92+% pure gold crystals of which 95% can be gravity method reclaimed. No cyanide leach due to silver chloride direct chemical reaction. Live and learn well and earn big bucks..
Old saw goes "Hand full a G0LD in the heap's worth 2 in the pond!"
"What was your trick for finding PT’s planted nugget in such a large area?"
Real simple. Make it REAL SMALL AREA!. Where family uncovered nuggets for a good century. Watch a front loader send a few loads to the placer wash and get down in the fresh dug 5' trench. Walk slowly down the center swinging wand side to side. BINGO! 7 grammer after I found a beer tab and a horse shoe nail up at shoulder level and gave detector toTom.That's his hand not mine. Secret was to cut the 2.5 miles to a fresh dug 100' trench in the lower stock work zone where all the nuggets arose until the latest discovery, THE PURE GOLD CRYSTALS clogging up that 2 meter level heap!
So figger odds of finding the nugget? Same as a beer tab and horse shoe nail.Just worth $300 more. So I asked Julio,"Finders Keepers? Was Julio's wand he went up to ranch house to get for me. None had been allowed since family leased it out for detectors before contract.. PT said is their call and we took it home as decade's open proof of a great resource, not hid unseen in a basement demanding 3rd party geologist along side... LOL!, ..to this very day or we'd not all still be here yakkin.
1st realize we've been told 5 years there was no drilled open pit ore suitable. No there's no place on that barren 2.5 sq miles to store some few thou tons of pebbles. Why perm store? CONTAMINATED! With what? 35K TONS by SALT . Have they tried PEPPER? Lower 2 meters contaminated by ??? CRYSTALIZED GOLD. HELP ME LORD!!! Toss me in that briar patch!
"the share price, yeah it survived the first"... MAKE THAT SECOND "day of dumping pretty well",
Try hard and pick ONE non fact as a change.
"0.0033's and 0.0034's thanks to toxic lender at end of day. What a deal!"
OOPS! Sure that t'weren't .0035 and .0038. Agreed?
Now 3rd Day's High 0.0038. Day's low .0032
"Unloading the leach pads to get at the layer of salty gold is really a pretty ridiculous story. Whoever writes these Mexus PRs must have a really low opinion of Mexus investors
What's next? A PR to announce that the vat of sludge drying in the Caborca sun finally dried out....and what was left behind is one solid block of gold? Amazin'!!!"
3:00 am ET October 5, 2020 (Globe Newswire)
"Cyanide solution with gold reacts with silver chloride and turns the gold to a metallic state. Tests have shown that 95% of the gold in the silver chloride material can be recovered using the company's gravity ball mill circuit"
Standard heap leach awareness. Hold the salt , Chef.!
Nuggets vs crystallized gold.
Nuggets makup some 2% of all gold but "Crystallized gold is even rarer and it is estimated that less than a tenth of one percent of all the gold in the world is crystallized."
About like Prissy in GWTW! " Miz Scarlett.. I donno nuthin bout leachin heaps!" Scarlett, "Then boil lots of water!!!"
Yeah who'd want this nasty stuff cloggin up the leach flow last 2 meters.
https://www.goldfeverprospecting.com/leabcrgo.html
For last time? Vat process was halted due no funds at URES, 200 MILES EAST OF CABORCA. I'd read up to be believed much at all.. Them trimmed horns get a bit tired from all the little pokes? Amuzin!!! Pick a pick a picador.
BOIL LOTS of water whilst PT delivers Lil' Crystal Mexus, Prissy.
Gone With the Heap: Role of Prissy played by Butterfly McGit... WHEE!! Scarlett 8
"price, yeah it survived the first day of dumping pretty well, but that's what the PR was designed to do"
You mean the std,long proclaimed, nothing, USUAL, Monday 3:02 AM PR claimed silliness has nefarious reason now and then? Pick an opine, no factual basis as usual please. Grows longer grey hair with each year while action proceeds. YEP!! Now there is an actual loaded leach pad to unload and reload clean of saline saturated pebbles. What an obvious scam BY HIDDEN NUGGETS in plain sight for Yahoo years. The original Elena David Copperfield show.
Convert in action..? . Relax, Yes, PPS hangs well as ever. Wonder why? In meantime read some for fun.
Hemingway did his "Death in the Afternoon" in 1932. I came on to it 30+ years later and became a corrada afficiano due time on leave and TDY 1970s Spain's major arenas Sunday Sol y Sombra progressive viewing ease sun and heat. Nearby seated loved my instant Poloroid pics for pass the bolita. "Ole!"
Long known Ernest's belief much symbolism applies to life ( and death!). Goal in every corrada is tire the enemy bull with moves and muscle picks to cause lowered head and attached horns. Mexus bd goal is an oft perfect picadoro dart and get em folowing muleta passes. Time comes to take out the curved killing blade at proper instant the bull will provide.
I look for finally both ears and the tail. Bull? Goes to soup for the poor. MACHIMSO Caborca style.
"At the end of a fight, if the judge feels the matador has dispatched the bull skillfully, he can award one ear, two ears, or both ears and the tail. If the matador agrees that he has fought a worthy animal well, he takes the award to a taxidermist, who preserves and mounts the parts on a plaque. Sometimes the matador will fling the ears to the crowd in the stands in a gesture of mock humility or if he feels the bull was just a routine animal and the award was undeserved. Occasionally, if the matador decides he didn't receive a big enough award, he'll fling the bull parts at the judge (a crowd-pleasing move), who will fine the matador five or ten dollars for the disrespect, and everyone goes home with his machismo intact."
In mining award for such skill is kinda same with dividends. I see my 20 years as 1st investor friends at GRC are handing me Spinco 1 for 3.5 as dividend play one mo go round. Been a real super invest to a richer life no cares.
https://seekingalpha.com/news/3619779-gold-resource-to-spin-off-nevada-mining-unit-independent-company
No, Test Mining was a term Denver Gold Forum gave to mining gold legally that does not come under the Guide 7 production of a technically proved drilled resource. Is gold production reported financially as non asset just for bookeeping use. Cashes out and spends the same. Very first thing GRC did with it in commercial production July 2010 was begin a 6 cent monthly dividend. Hard to deny is not money made test mining.
MarMar still fouling the nest despite all 2 years later. OK, mill up and running ( must have been stored in GREAT SHAPE!) so mill the chloride metallic bound silver and speed the heap back to health. Can be batches of lower heap ore and then vein ore. Precipitating silver chloride powder off hot nitric acid bath is one way to produce refined gold from dore. Goes around, comes around
Still not up on what's SEC production from defined resource and Test Mining exception with cost expensed as occurred. What does it take? Carefuly explaind it means Mexus decade long declared $10 mil infrastructure a cost not an asset and any PM ore process recovery reported as reduced cost as well. All makes for difficulty researching test mining as investment.
"So, the Mexus PR that claimed that they have transitioned into a "production" phase was lying? Still exploration phase only? Can't have it both ways."
But there are TWO ways. Guide rule and exception.
"GORO and Mexus have very little in common and are not good parallel examples of one another."
Oh, really? Then eye of the beholder. GRC and Mexus are for sure quite similar, near identical as very small test miners some decade apart in organization and construction.
Now ya see it now ya don't but try
Once again.. Expertise takes some actual education not just a say so. I do have some.
What's the point? Point is why we are even here test mining which DOES exist and I did assist blaze the trail in US Owned Mexican mining after 1994 NAFTA into effect.
Converse is difficult as hard to see if just confused or attempt is be confusing in jest.
Why was Gold Resource entry ito Mexico so important a lesson for Mexus. One of the first allowed by NAFTA to be US majority owned. Exact why Reid brothers determined to begin GRC operations there. Blazed a plain trail for small non SEC resource test mining that Mexus tries to follow in what has been lean financing times. GORO start was in the $250 to $1900 POG 2002 to 2010..
"doesn't mean it's a SEC requirement".
Not able to see the SEC Guide required is NOT to report as revenue so must be cost expensed unless there is a proven defined resource. Hard to believe speaking then on much of anything.
"Just t because Gold Resources didn't report gold sales as revenue doesn't mean it's a SEC requirement. I'll point out (once again) Mexus previously reported gold sales as revenue in it's 10-k.
It REPORTED back then washed NUGGETS ( ALL THE HUNDREDS and HUNDREDS EASILY HIDDEN ONES) sales long halted with the placer operating brothers as MXSG now proclaimed enemies which were NOT GUIDE 7 processed ore recovered which is not allowed with no listed resource. IOW Where the heck you been last 4 years? WASHED HIDDEN NUGGETS ARE NOT SOMEWAY PROCESSED NON ASSET SEC DEFINED ORE. GET IT? WHY NEVER SINCE? IT STOPPED!
"Have the SEC guidlelines changed since 2012? If so, please link to those changes or let us know specifically where they can be found (what reg, sub title, section etc.)."
Quite somewhat!. You tell me. Again where ya been last 4 years?
https://www.dorsey.com/newsresources/publications/client-alerts/2019/02/new-mining-disclosure-rules-2019
Read this:
"Appropriate assessments of other reasonably assumed modifying factors necessary to demonstrate reasonable prospects for economic extraction."
Economic extraction is defined as having an SEC recognized asset to
extract. Otherwise is test mining cost expensed no revenue asset.
Expertise takes some actual education not just a say so. Fancy $70,000 robed San Antonio Fiesta Princesses are told " show us yer boots!" Damn nice not $70K! Still? Boots on tends an honest begin.
Why was Gold Resource entry ito Mexico so important a lesson for Mexus. One of the first allowed by NAFTA to be US majority owned. Exact why Reid brothers determined to begin GRC operations there. Blazed a plain trail for small non SEC resource test mining that Mexus tries to follow in what has been lean financing times. GORO start was in the $250 to $1900 POG 2002 to 2010..
"7,000,000 Shares
of Common Stock
Offered by
Gold Resource Corporation
8,910,707 Shares
of Common Stock
Offered by
Selling Shareholders"
"On May 15, 2006, the SEC declared the Company’s registration statement on Form SB-2 effective, allowing the Company to offer its common stock to the public. The Company is offering 7,000,000 shares of its common stock to investors at a price of $1.00 per share on a “best efforts” basis. The stock can be offered for a period of 120 days from May 15, 2006, unless extended for up to 60 additional days in the Company’s discretion or unless sooner terminated. Subsequent to March 31, 2006, the Company received cash proceeds of $275,000 from the sale of 275,000 shares of common stock pursuant to this registration statement. IN ADDITION the Company received cash proceeds of $10,000 pursuant to the exercise of options TO PURCHASE 40,000 SHARES OF COMMON STOCK.
These were .25 Pre IPO shares we could sell as $1 post IPO shares when IPO took effect. Instead we added more until the $31 top out. The odd late buy in for $10K @.25 was Dorly's boss Jack Nobel He grew tired of hearing about my gold mine exploration finds. Bill asked if I knew any wanting in that Friday. Jack wired $10K check to Bill Reid while in his way to family in Wisconsin.. Died a few yearsafter GORO topped out a milionaire after a career as successful Real Estate Broker little to show for it not like GORO returned for $10K. NO brag, simply how you learn as most don't.
Don I. and Dorothera Philips 480,000
Don I and Thomas Phillips 40,000
Jack Nobel 40,000"
Note: 1st 10K in 2008 states they made no fease study as enough results allowed direct entry into test mining all explore cost expensed as with no asset value from revenue based on JUST106 DRILL HOLES AVG 200'.That's a piddling amount on any scale. Decided to mine began to drill for July 2010 production like mad. Heard otherwise?
"Basis of Consolidation. The consolidated financial statements include the accounts of the Company and its wholly owned Mexican corporation subsidiaries, Don David Gold S.A. de C.V. and Golden Trump S.A. de C.V. The expenditures of Don David Gold and Golden Trump are generally incurred in Mexican pesos. Significant inter-company accounts and transactions have been eliminated."'
OK, exact WHAT Mexican accounts and transactions were eleminated and satisfied SEC in all filings. Interesting question. eh? You tell me! I've no idea. Court cases perhaps? Transactional law can be settled disputed contracts. Hummm
"QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2006
RESOURCE CORPORATION
(Exact Name of Small Business Issuer as Specified in its Charter)
If we identify sufficient mineralization during our exploration program, we would conduct a feasibility study. A feasibility study is designed to determine the economic feasibility of placing the property into
Plan of Operation
Introduction. Our plan of operation is to continue exploration of the El Aguila property until we discover sufficient mineralization to justify placing the property into production or alternatively, determine to abandon the lease. We also intend to undertake exploration of the El Rey property, a property that is in an earlier stage of exploration. Our ultimate objective is to become a producer of gold and other precious metals. We are unable at this time to predict when, if ever, that objective will be achieved.
Exploration. Exploration carried out by us to date at the El Aguila project has included 106 DRILL HOLES TOTALING APPROXIMATELY 22,000 FEET. The results so far suggest the presence of mineralized material in sufficient grade and quantity TO JUSTIFY CONTINUED EXPLORATION..
Due to our lack of proved or probable reserves at this time, all of our investment in mining properties has been EXPENSED, and does not appear as an ASSET on our balance sheet. During the first six months of 2006, we spent $211,088 on acquisition, exploration and evaluation expenses. This compares to $89,144 for the comparable period in 2005. From inception to June 30, 2006, we have spent $2,352,909 on the acquisition and exploration of our properties."
How many times must I teach what was taught me by a past Chair of Denver Gold Forum, Bill Reid, showing the glaring hole or exemption in Guide 7. Can't stop test mining on legally owned property claims only how it can be claimed in SEC filings as a cost reduction not an asset.
"GOLD RESOURCE CORPORATION
(Exact name of registrant as specified in its charter)
For the fiscal year ended December 31, 2007
We have no proven or probable reserves, and the probability of an individual prospect having reserves is extremely remote. Therefore, in all likelihood, our properties do not contain any reserves, and any funds spent by us on exploration or development could be lost. We have not established the presence of any proven or probable mineral reserves, as defined by the SEC, at any of our properties. The SEC has defined a “reserve” as that part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination. Any mineralized material discovered by us should not be considered proven or probable reserves.
In order to demonstrate the existence of proven or probable reserves, it will first be necessary for us to continue exploration to demonstrate the existence of sufficient mineralized material with satisfactory continuity and then obtain a positive feasibility study. Exploration is inherently risky, with few properties ultimately proving economically successful. We do not intend to pursue additional exploration for the purpose of establishing proven or probable reserves.
Establishing reserves requires a feasibility study demonstrating with reasonable certainty that the deposit can be economically extracted and produced. We HAVE NOT COMPLETED A FEASIBILITY STUDY lity study with regard to all or a portion of any of our properties, nor do we intend to perform such feasibility study at this time.
Since we have no proven or probable reserves, our investment in mineral properties is not reported as an asset in our financial statements which may have a negative impact on the price of our stock. We prepare our financial statements in accordance with accounting principles generally accepted in the Unite States of America and intend to report substantially all exploration and construction expenditures as expenses until we are able to establish proven or probable reserves. If we are able to establish proven or probable reserves, we would report development expenditures as an asset subject to future amortization using the units-of-production method. Since it is uncertain when, if ever, we will establish proven or probable reserves, it is uncertain whether we will ever report these expenditures as an asset. Accordingly, our financial statements report fewer assets and greater expenses than would be the case if we had proven or probable reserves, which could have a negative impact on our stock price."
Seems really slow readers not current as of
Effective March 31, 2011, we acquired Mexus Gold S.A. de C.V. (our wholly owned subsidiary) and began funding mining operations in Mexico. A small placer processing operation was instituted to evaluate various areas of interest within the project lands held by Mexus Gold S.A. de C.V.
looking for paid employees, Mexican court cases they are under Mexus Gold S.A. de C.V. Seems SEC has no concerns last 9 years so really slow readers as well.
Gold sales from placer? Even as a gold mining corp no drill confirmed Guide 7 resource ore possible so just as test mining becomes an exception. Placer washed nuggets same as washing off a dirty 50 peso note found in your back yard and bank as asset unlike cost reduced test mining ore sales. I imagine same as slow reading? Bit hard of seeing still as well.
I don't make the rules nor very obvious exceptions last 80 some years. BTW not being tightend, changes are being set more to intl standards.
Saildone, we've asked anti-Mexus right here for linked facts now for years and just get fatuous twisted opines in place. See the latest.
"update in Sept. on production"
"which will represent a forward looking estimate for the last three months of 2020," added Mexus, CEO Paul Thompson, Sr."
See past production there any place? Hardly be forward looking is fact twisted round wanna be as an opinion. He may or certainly may not. CEO and Dealer's choice.
More? In fact All opinions?
"Lied about MarMar - fact! Lied about no more toxic notes - fact! Failed to report stock sales within required timeframe - fact! Presented averaged results of drill assays in a fraudulent manner - fact!"
Fact is MarMar lied and was the FACTUAL court accepted case that was used to regain full control and send them packing forever from Sonora by the decision. Mexus continued to fulfill obligations when we know here first hand of active other family attempts to void the 2010 contract with Mexus.
ANY CEO needs to do anything possible to maintain operation and accept serial bad terms was the sole way possible. Had he not? Would have been own final duty to fire and replace self which is SOME one owner quandry! Post the FACTUAL statement with date as SEC accepted form or none here will accept as always.
Never will accept FACT SEC has wide allowance for small office (try one woman when she's in) corp in filing forms and IN PARTICULAR financing by accredited and 35 each allowed non accredited investors as FAMED Guide 7 exception. PLUS test mining sale FACTUALY expensed as non-asset including most infrastructure. Need we need keep showing the GRC example till is FACTUALLY accepted?
I see no SEC comments on violations in some years on any filings and NONE on fraudulent openly posted assay averaging. Have you reported all these opinions of CEO fraud to SEC Investigations I've found them most open to contact in matters even brought up right here in the past. Seem quite decent folk, when not after self but otherwise I'd not know as have had no experience other than to report by myself of unlawful activity.
Not a fact just my opinion but have you considered them's numerous odd hours of hard work (answered my post there IN FACT IN FLAT 41 minutes! and at times still under edit!) turned into a non-fictional book? Try "THAT TESTY TEST MINING" (for not much fun and no profit an average 8 to 10 years in best of GOOD times)"
Friday, 09/25/20 05:29:23 PM
Friday, 09/25/20 06:10:04 PM
31 + 10=41
And THAT FACT, good folk, may just be the WHY!
"lie, cheat, and obfuscate?"
That an opinion? What remains so odd is except the most frequent and loudest not the popular shareholder opinion all. Now what those most very so wonder why would that be?
Need some REAL line of bull crap? OH! .0032 wha happened?
"Historic stamp mill/ trailer park...Action Fashions.".
Stamp Mill is a paid for gift to home of modern mining, Virgina City, as a terminal for the historic small gauge railway.up from US 50 to Comstock. Area now is Nevada 2nd biggest tourist attraction after Las Vegas strip. Means is REALLY SOMETHING to any with any awareness of mining at all. Apparently some indeed do have none.
Crystal Caves is NO TRAILER park. Moble homes were brought in on wheels to have them removed to become perm fixtures in the toughest area of California to develop anything in so tightly Gold Country Commission controlled with high standards for the type of housing meeting strict rules. Just raw land clearing and paving to build home sites is a puzzle palace about like the Pentagon. Any with that ability DO HAVE KNOW HOW to do just about anything. Paul's Water Company made that possible as a private well can't be drilled. As another paid for gift PT built small community of Pioneer a Volunteer Fire Department building. Heard of any fires in area lately? can be all guarding from disaster as good reason to settle in rather exclusive Crystal Caves where construction costs would be impossibe as site stick built. Any with awareness of CA Hiway 49 through the historic ( again) gold country Mark Twain wrote of after he left historic Virginia City would fully appreciate that. Once again it seems same some do not. Look the 2 sites up.
https://www.bing.com/maps?q=crystal+caves+mobile+home+park&form=ANNTH1&refig=795143a37ea7451699488a607eac54f3&sp=1&qs=SC&pq=crystal+caves+mobilr&sk=PRES1&sc=1-20&cvid=795143a37ea7451699488a607eac54f3
Action Fashions? Nothing to do with Mexus just the prior '08 corp. Mexus as successor bought simply for no IPO need for listing as MXSG but any with any stock market experience should know that . OOOPS! same some do not. Another great belly laugh.
Can give cable recovery attempt where process proved out but in impossible conditions far north to Alaska greatly disappointing Native Tribes in need of the enviromental clean up will be accomplished sometime by some one probably using the process perfected.
Want yer best advice from basement mining experts? Try some from a trio never been even near Elena to see a single situational item which to opine from. FOR YEARS ON END. LOOK IT UP.
"Amateur mine tourist uncoverd 3 gold nuggets during their visit, surely Paul has found hundreds more nuggets in that overburden before getting to the main vein. I mean, otherwise it would be a strange illogical coincidence if no other nuggets were found.
Hard to beleive this company is still in debt with all them gold nuggets to be found."
All of hundreds sold nuggets, just a few. a few pictured, yearly placer washed by Baltazar brolthers 4 years in operation earning family 45% of profit were dug in trenches I've described where we detected just a 7 gramer in stock work placer zone from lower valley shifted in alluvial silt washed down for last 66 million years from higher rich quartz veins? Total stockwork soil depth IS NOT overburden of nothing as the nugget source a problem placer miner would demand God offer every day. Who is this Elena expert with such nonsense daily. Brothers became greedy enemies ? Placer was halted. Ask yer friend user alias Garcia.
"Nearing" could mean that it won't be ready until 2021 because every belt, every gear, etc. might need replacing since it has sat there for years. Or maybe will never be ready."
Ask self why USAF maintains thousands of salvaged and long term stored aircraft at Davis-Monthan USAF Air Force Base boneyard in same dry Tuscon desert for decades like new? Perfect spot to keep ball mill like new at Elena maintained by the same "silly hobby equipment restorer and builder". I've flown B-52's into D-M, world's greated parts store and then flown combat using parts from the salvage yard saving billions in costs for decades since WW 2. It's an amazing place stretching miles around along I-10. If was flown in? Kept in condition to be fly away if needed.
"Devaluing investors shares since 1973. We make money the "Old Fashion way" , We lose it!!"
1973? You serious. Only to belly laugh at. Thanks for the unusual Sunday humor! Try 2009, all 11 years since existance.
https://en.wikipedia.org/wiki/Davis%E2%80%93Monthan_Air_Force_Base#/media/File:US_Navy_040204-N-3122S-004_An_aerial_image_of_the_Aerospace_Maintenance_and_Regeneration_Center_(AMARC)_located_on_the_Davis-Monthan_Air_Force_Base_in_Tucson,_Ariz.jpg
"for as long as the vein lasts, he'll mill"
May be quite awhile as that main above ground Julio vein burries finally 800 meters away in the mt peak as another local legend all in Caborca can see from Mex 2. NW sonora area vein pinch out depth is long accepted 1000 meters from Mojave Mega Shear major geologic event. Gigantic nearby Herradura now works at that open pit level to go underground. Gives Elena 930 meters left to open pit on 800 meters strike length. Then there's other 5 visible above ground viens same general upward NW orientation well mapped and geologic explored for the decade under Mexus ownership.
https://www.bing.com/images/search?view=detailV2&ccid=QS%2BDskri&id=DBB7B2C33052E942F03085CEDAC75ACD581C6970&thid=OIP.QS-DskriR0Kn-CyfbwdO1gHaG8&mediaurl=https%3A%2F%2Fwww.magnagoldcorp.com%2F_resources%2Fimages%2F20200901fig1.jpg&exph=841&expw=897&q=mojave+mega+shear&simid=608029367717924607&ck=DC77E64B6A27A0179EA994004F412E69&selectedindex=0&form=IRPRST&ajaxhist=0&vt=3&sim=1&cal=0.05952380952380952&cab=0.9714285714285714&cat=0.06984126984126984&car=0.9583333333333334
Ball mill
Post by 8thaero » Mon Sep 14, 2020 4:36 am
Well finallysomething to blog about.
80 ton nominal mill has been in place for about 9 years located same place as the crushing circuit for the heap. Till '15 shared space with the family run placer operation for 45% of that income. Went bye bye with the family revolt turned anti Mexus demanding their control not Papa Oscar. All along the heap has used the ready crush bin ball mill feed as initial step crush circuit for ore not needing jaw crusher. Had been awaiting heap load and recovery success to move to actual surface veins including Julio shaft. Yes, Azuka's 50 foot bonanza source and aint no legend. Been down there seen that. Are at that development point so now can move to simpler mill to powder and gravity recovery for sale direct to refinery. Process worked well by my observation and knowing CEO has fashioned own great improverments unlike any other CEO in exisitance. Just part of the $10 million non- asset infrastructure decade long construction. Talk back then was planned mill size of a ball room next upgrade. Doubt this is that move but single requirement is room and there's plenty of on 2.5 sq miles. Quick BOE says 80 times 1/3 oz daily plus/minus, small crews round the clock.
3,641,692 dumped even after the hour? Who says not a note. Question remains posted still or not. Why a 12 day delay? Expected a sharp rise until halts? Strange, very strange.
Seem to hold up well @ .004 5 mil dumped at 16:00. No interest in 3,860,526 3:54 after close? Strange, very strange. Probably means sonething all can easily see.
"After hours trade. Hmmmmmmm? Wonder what that means. Probably nothing."
Yeah how about that. 11 days since conversion due and seems no wish to cash it out just SIT on cheap shares game. Then 11 days to next game. Is something unsaid halting the play? Into games? Try crosswords. Fudge mentioned on any can join blog is a 20 possible clue or answer 5 letters so one of the best. Then english is rather extraordinary versatile for gaming. Take "sit on hands" can be very active in play;hardly passive. Hand sitting is the basis of high action Sit and Go Texas Hold Em. Then to even begin strongest position is sit as button dealer after all players to move last hand bet action. Most bright folk call it sitting pretty. HARDLY doing nothing with your occasional best hand possible. You clean up as all others are known as big losers.Then is the bluff set up by position seating. Not much news of more interest it seems. For sure no dumbo CEO faked news nonsense for pretty bland wide open blog all Labor weekend.
2nd the motion. Did not labor. Just the 165 memeber multi forum blog says no such patent nonsense. Few posts as we await the Sept updates lead to last qtr product. Big topic is can we patiently sit on our hands till CEO speaks. 1 reply so far about use of funny word "fudge".
Such search ability outdoors could look up exactly who has ever said "amazin rich pregnant pond". Lived with a few last 1/4 century and current color and size says more LOL 'fantastic'.But proof's only in the proper prepared increasing heap following admitted covid shut down and 3rd qtr recovery. Updates possible but few here will believe it or the actual day to day cost. He said, she said. PT seems the man to know less proven otherwise. "All I know is what I read in the papers".
"Who are they".
"All I know is just what I read in the papers, and that's an alibi for my ignorance."
Will Rogers
For use by newbies. Same factual truth dont change with age simply gets truer with a decade development pretty standard. Must be others who change as needed? Opinion of the day anyone?
"You can only repeat your story so many times"
https://www.decipher.com.au/blog/industry-news/the-5-stages-of-the-mining-life-cycle
Can only speak as original $120K for 480K shares Gold Resource Corp largest pvt investor but posted here hardly factual. GIGANTIC 2 officer corp in a small Denver office. CEO and VP. Pre IPO PPS .25 to eventual top $31 in the decade building and test mining production of 2 ton sacks of base metal flotation sent to refinery for payment as copper/gold. lead/ silver and all base metal zinc. One way around the Industry Guide allows PM product used as construction cost expensed occurred not a revenue or infrastructure asset. First meet of 20 investors at Brown Palace we agreed to proceed finally with no resource but CEO Bill Reid's fine rock samples in old El Aguila hill top adit he was led to by advisor Pepe Reynosa. Pure recorded fact no opinion.
Claims he owned had been abandoned by Arista earlier in the year 2002. No significant ore discovered. We simply kept voting to proceed and develop the mine by VP David ( Don David Gold Mexico) while brother Bill toured the rubber chicken lunch circuit for funds to finally explore fully.
"The old example of GORO is brought up....but there really is no comparison. GORO had the expertise, they had the exploration data, and I am sure they did extensive metallurgy and cost analyses. And they were not run by a single-person company who's claim to fame is that they weld together water tanks and built a mobile home park".
Nonthing there is true. Read the GRC 10s filed with SEC
We are a company engaged in the exploration of gold and silver properties, primarily in Mexico, with a goal of production in the near future. We pursue exploration of gold and silver projects that we believe feature low operating costs and have the potential to produce a high return on the capital invested. We hold a 100% interest in four properties in Mexico’s southern State of Oaxaca. See “Item 2. Properties” for more information about our properties. Mineral exploration requires significant capital and our assets and resources are limited. We have never received revenue from operations and have relied on equity financing to fund our operations to date.
We completed our IPO in August 2006 at $1.00 per share and received gross proceeds of $4,600,000. We raised additional capital pursuant to two private placements of our common stock; one in December 2006 for gross proceeds of $5,186,400 and one in December 2007 for gross proceeds of $22,234,000. We used the initial IPO and December 2006 private placement funds to continue exploration at the El Aguila property. In April 2007, we decided to move forward with construction at the El Aguila property in an effort to commence commercial production. We anticipate using the funding provided by our December 2007 private placement to fund construction.
Our decision to accelerate construction was made based upon drilling data that we believe provides evidence of mineralized material in amounts sufficient to proceed with construction activities. However, we have not commenced a feasibility study that would allow us to classify any of our mineralized material as proven or probable reserves, as those terms are defined by the SEC in Industry Guide 7, “Description of Property by Issuers Engaged or to Be Engaged in Significant Mining Operations.” The SEC definition of “reserve” is “that part of a mineral deposit which could be economically and legally extracted or produced at the time of the reserve determination.”
18
Our ability to demonstrate the existence of proven or probable reserves would require us to continue exploration drilling that demonstrated the existence of sufficient mineralized material and to complete a positive feasibility study. A feasibility study must demonstrate with reasonable certainty that the deposit can be legally and economically extracted and produced. At this time, we have neither undertaken these additional activities nor implemented plans to undertake these activities in the future. Accordingly, the mineralized material drilled by us or developed by us should not be considered proven or probable mineral reserves. Additionally, the assumptions used by us in our decision to undertake construction of the mill and mine may prove to be inaccurate. Thus, we may never be able to recover sufficient mineralized material to become profitable.
In accordance with accounting principles generally accepted in the United States, all expenditures for exploration and evaluation of our properties to date have been expensed as incurred. Furthermore, until mineralized material is classified as proven or probable reserves, substantially all expenditures for mine construction have been or will be expensed as incurred. Certain expenditures, such as for rolling stock, processing equipment, and facilities may be capitalized, subject to our evaluation of the expenditures as an asset with future realizable value. Since substantially all of our expenditures to date have been expensed and we expect to expense significant expenditures incurred during 2008, most of our investment in mining properties does not appear as an asset on our balance sheet.
We plan to continue exploration of the El Aguila property at the same time that we undertake efforts to place the property into production. We also intend to continue exploration of the El Rey property in 2008. Our ultimate objective is to become a producer of gold, silver and possibly other associated base metals. We are unable at this time to predict when, if ever, that objective will be achieved.
https://www.sec.gov/Archives/edgar/data/1160791/000107997308000414/grc_10k-123107.htm
"June 24, 2019
Mexus to begin leaching June 27th at its Santa Elena mine
"So, word is that Lemas is being overruled by PT on how to operate the leaching operation, and there is no sign that Mr. Baltierrez is even involved."
Not even current 5 quarters read up? Can any even bother listen? Speak to Uncle Joe in the corner. PR was from last 2019 JUNE! Roberto retired from Argonaut late 2018 knowing Argonaut actual, not self EGO pleased imagined, drill results. Send Roberto a call number and can fill you in down there. Really.... Is that Sleepy Uncle Joe in the basement corner,. unknown month and Year? Figgers.
Call in a sand flood rescue crew stat! CODE? SLAM MAGIC 8 Ball!
BTW combat 100% disabled age 40 as if retired means more than disabled in actual combat. . This sillly bd nonsense is pure hanky tied poke hop scotch nonsense real life. Go get one. Decipher is ask a tiny girl.
"Uh-oh, big storms today at the Santa Elena minesite."
Send FEMA from LA disaster zone, quick! Cathedral Cactus Monument under 20' sand surge! Turtles out run sand!
https://radar.weather.gov/radar.php?rid=emx&product=NCR&overlay=11101111&loop=no
Lukeville enters Mextco.Tiny boy looks up in deep copper mine years ago.