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We've been awaiting some fact behind now years of an opinion can have no possible knowledge but "says me'. We DO KNOW one individual as their Sonoran mine metallurgist had access so real full awareness Argonaut's Nov '15 drills hastily abandoned Dec 3. As Argonaut shareholders we were assured normal times would have continued with contract but genuine fear of POG falling to $700 call was to use the bail out provided. We also now know the exact date of slide halt at POG $1053, the day Argonaut dumped out of 80% ... EIGHTY PERCENT JV. Their '15 Sonora metallurgist is now 100% owned Mexus Sonora head metallurgist and we accumulators do wish a long and healthy life. Keep well in actual, not just feared, dangerous times, Roberto. A simple pure fact can't be forever be denied with opinionated nonsense.
"Mexus to begin leaching June 27th at its Santa Elena mine
Mexus head metallurgist, Roberto Baltierrez, completed lab testing of the recently prepared heap leach pad and has formulated a gold/silver recovery plan."
Biggest oft repeated lie? There is NO PRIVATE Board. More applies to other very few message bds. Now a 163 completely free to join member blog with freedom to say near anything under the sun you wish somewhere. Allowing give and take obviously hard to imagine seen from here. Exact as here will need a REAL name and contact tho for completely different reason, openness not to shield by alias. We could think of no other way to communicate with democratic (little d) process in mind. Be hard to find as buried deep in the past but any can look it up or ask any honest person you may know. Come on in when you can tell us who you are to know whom we speak to and of. Obvious as well wont be many of those. A few have freely pulled up stake and gone to where cannot be questioned on dishonesty. Pretty normal for all normal freedom allowed for the net.
Other long term lie?
" And to make matters worse - there is no gold that can be mined profitably. The drill results clearly show that to be the case."
Seem to be the ONLY person to have seen the drill results Argonaut only allowed ( poorly we keep being told) summarized but never corporate denied. Dec 3rd '15 quick 30 day notice to cancel Jan 1 '16 next $5 million program for 80% JV buy in was the exact POG $1053 bottom as CEO told we ARNGF holders of his fear POG to $700. Now we work POG 4 years later in 100% owned risen since to double. But we do know of a REAL insider who saw the results in total. BTW an apparent errant drill was sunk in now Lucky Strike pit later twinned 2 times by Mexus with 1.2 grams assay finally revealed. $73/ton hardly negligable as well above usual heap leach in profit grade 1 gram.
"Open pit vs underground: Of utmost importance to the cost of extracting gold is where the gold lies within a deposit. A deposit of disseminated gold (small particles of gold distributed throughout the rock) close to surface will be open-pit mined, while gold found in often-thin veins hundreds of meters below surface is mined using underground methods. There are many more low-grade gold deposits than high-grade. For every 2.5 grams per tonne (g/t) gold deposit, Mother Nature forms another 10 deposits around 1 g/t. Generally speaking, one gram per tonne works for open-pit mines, but underground gold mines require at least 2.5 g/t to be economic."
https://www.kitco.com/commentaries/2018-12-24/How-to-profit-from-low-grade-gold-mines-Part-1.html.
The insider ?
CABORCA, Mexico, June 24th, 2019 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that all the necessary preparation to begin cyanide leaching at the Santa Elena mine is now complete. Mexus head metallurgist, Roberto Baltierrez, completed lab testing of the recently prepared heap leach pad and has formulated a gold/silver recovery plan. The initial material being leached is existing shear zone lower grade material averaging 1.8 g/t gold and 8.."
Argonaut's own Sonoran mine metallurgist took retirement and joined up for same role at St Elena. Aint that quaint. Some weird desire to go down in flames as a failure after much success. Hard to figger that. Perhaps a full long term anti-Mexus lie proven wrong?
Can't have much reasonable discussion with any do not see audited annual 2019 10K was released early Friday and next 3 mo 1st qtr 2020 stated unaudited 10Q was out y'day Tue 18th. And yes as majority holders we are in good discussion asking CEO to fully inform accreditied investors as SEC requires as to why it reports 3/4 oz daily avg cost expensed net sale of gold of $117,389 EXACTLY as test mining no resource is required so can't be that difficult to understand as claimed here for years. Yes, a Conf call as promised seems best means of all and does not call any REALLY strange need for oddity "3-D Model and 43-101 Report" verbally. Bit there to wrestle with aural speaker-wise BUT that's just required fully disclosed by good old Industry Guide for shareholders in Small Office miners rule exception financing by PPR and without some owner proof seems to not even be material to others just perhaps nice to know. Seems a sign up list by yeah, dear old gettin wildly richer by the day, Deb. But screaming FIRE is allowed on the net. Scream away. Made a nice painting.
https://www.bing.com/search?q=the+scream+painting&form=ANNTH1&refig=2695243c7bcf41fbac6f005a996607c2&sp=2&qs=LS&pq=the+scream&sk=LS1&sc=8-10&cvid=2695243c7bcf41fbac6f005a996607c2
Really odd. Same day Mexus demonstrates SEC Test Mining Rule exception by carefully NOT hiding a dang thing but expensing all Qtr small $76K sales revenue against exploration costs
"For the year ended March 31, 2020, the Company had recoveries from the sale of gold of $76,287 compared to $0 for the year ended March 31, 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."
someone also reveals exactly why Mexus will be so successful miniing St Elena. Extreme low cost where gold is proven abundant not at all rare. Ask any been there to check that obvious fact out gold is found all over the 2.5 sq miles, surface to depths tested all last century known well in Caborca. Fair large error tho is fact the 3 month avg product cost was PR posted $376 not $450. Got any factual disproof or just more poor unexpert opining? $1624 profit? BRING IT ON!
Keep up the proofs by Wed in next 3 month low cost production AUDITED BTW 10Q. We poor large accumulators just LOVE IT!
"Gold is not rare, and is easy to find and not particularly difficult to produce.
Instead, what I said is that Mexus would never produce and sell gold AT A PROFIT. That is the difficult part, and is why gold is over $2000 an ounce.
And, so far, I am still correct about that.
Mexus' production is not profitable, and the claims of $450 an ounce cash cost are ridiculously wrong".
"CABORCA, Mexico, March 23rd, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade ...
May 26th
For the last 3 months the company has been able to operate and expand using gold sales only and without taking on further debt. The infrastructure at Mexus’ Santa Elena mine is valued at over $10,000,000. The company has and will continue to produce gold for years to come."
With a long test mining drill progran proven resource the $10 mil switches to ASSET! Book keep goes pure upside down. Proper way to eval ANY explorer as any real pro knows.
10Q is by Wed and rather odd the 10K was out around 1PM no hidden dead of night and 100% filed on time not NEVER or even late fudged 50% as a BIG misjudged correctness... about as ever. But then what do some (or ALL) never been close to Caborca know about anything to begin. Seem to finally agree explore/develop cost ARE actually expensed as occurred by test mining PM sales IAW SEC rule exception( not to be followed). Aint THAT strange long last. Copious 'was wrong' not much expected.
Usually take at his word until shown wrong so my guess for the Q is 250 oz (May leach only no load was 102) and there's no requiremnent to state actual weight only sales applied to expense to further production as stated over and over. Call it POG refined, not dore, $1700 so WAGed at $300-$350K 2nd qtr EXPENSED.
June 15
"Revenues from the sale of gold are currently being reinvested to increase our monthly production. Long term, this will be a substantial benefit to Mexus and its shareholders," added Mexus CEO Paul Thompson."
SKY IS FALLING.... RUN! What a true amazing amount of total baldserdash.
Know little or nothing then make some up just as have for years while a mine finally gets into TEST MINING production so by SEC rule cannot call gold sales as revenue or infrastructue as an asset. May be used to expense cost as they occur such as audit cost and shipping a big truck if any READ the rules. Is when production drills now can prove up a resource it switches to gold sale as revenue and infrastructue as
asset. Flips the entire bookkeep on its head just as shown by Gold
Resouce Corp after 4 years test production. READ UP!
About now till the 2 10s are filed I'd advise to look for a chair when the chin music stops. I know of NO large long term holders and know NEAR all well who would be among majority holders with the CEO who is producing so NOT selling at all at this silly PPS . Negates all possible comon sense but keep up the we're dumping at a long term loss. Oh yeah!
Re: Christmas in August
Post by 8thaero » Tue Aug 11, 2020 2:52 pm
Just amazin the abuse PPS has taken and basicly absorbed last year with loan conversions. 10Q is last share issue update we'll soon see. Long last the never Mexus get to see how sale is handled by 10K the already done audit. Simply can't grasp test mining of PM you may process as claim allows but can't use as asset gain with no approved resource. Not a bit like corner 3 card Monte where's the ball. Take the cash fold the table and scram.
Perfectly legal as is a 1 man corp in ALL US territories. 8
Might ask the never Mexus to view Oscar's uncle Diego side by side . He'd be near 100 now and seen it all. Great uncle of Julio who was doing the talking next to office trailer steps by old placer plant 9 years ago. There's that old fable tale of 3 oz in a bucket of ore.
Monday, 10/03/11 08:00:58 PM
Re: None 0
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65
of 39448
Was back then new video out take here - Interview with ancestral owner of Caborca property: Diego Vega Oscar's maternal uncle translated ( kinda) by his great nephew Julio on office trailer steps long before he switched to become anti Mexus to take over Elena. Became a real blow to Mexus start up ops and caused shut down of family placer operation run the the 2 boys. Guess ya had to be around ( I sure was!) to take it all in ever since. Frankly amazing to finally be in profit operation if 10K and 10Q proves it all out. I think'll be highly worth the wait to a large accumulator ( a compliment BTW), one of the majority bunch of holders.
No perm address PLEASE as a bit steep. Just need a nice 2 day VIP Exec Suite again for my 83rd. Most likely bring down a new cake from 3 days at Tahoe Harvey's with the 6 us family. Be 1st time for Jordan's new engaged Kaitlynn (Cupcake!) as sees what it is we like there where West begins to start to end. 8
Da EXPERT!
Post by 8thaero » Thu Aug 06, 2020 3:22 pm
"Seriously? A legit BOD might have saved this company and investors from some of the idiotic and expensive things that PT has done, and from some of the disastrous business relationships he got into. There is no accountability."
Can this POSSIBLY mean SEC is falsely recomending NO ACCOUNTABILTY one man corp legal in all states as a valid cost saving means for a very small corp with no credit or treasury cash ???? HEAVENS!!!
Makes for pretty nonsensical "SEC EXPERT" contradicting published rulings. BUT? What's new?
"Others have been duped the same way? Not surprised."
With a good topic to reply? There was only one, EVER. Family would not allow before, Tom, my son who found and shows the nugget. I was worn out by half hour swinging Julio's heavy old detector and wearing 40# vest. Handed over to son after finding a beer tab and horsehoe nail up close to surface where one'd expect. The nugget was bit to left side bottom 5' fresh dug placer feed trench lower valley stock work zone.
I've another bit smaller with a pretty bit of quartz for assist cleaning out the placer wet sand few visits later. Fun to see them wash over knuckels in riffle capture. Also back breaking stuff and mine been broke last half century. Rather just invest in the mine. SO I DID as very first and biggest most the time. All's to say.
No quite so, Dino. My projected horizon includes full year '21 ends Mar 30 '22. Last point when 2 to 20 RS can take place. Your claim is the 40 ton hauler will only make 12.5 VERY short haul trips in a full 24 hr day? How about just bit more than 1/hr and load 1000 NOT silly half time off 500 tons to leach daily by 1 April '22? That takes just 500 days or end of Dec '21 with a full qtr to produce even more than 33,000 oz with 2.1 gram ore. Never mind opening shuttered URES back up with cash flow after Jan '21 (NO DEBT Mexus) and ready to mine Project Mabel and Cesar's follow ons El Plamito and La Famosa. Possible now to see the $buck come year '22 start plus any chosen RS that April Fools? Who's that make the fool by then?
https://www.sec.gov/Archives/edgar/data/1355677/000107878218000696/f10k033118_ex99z2.htm
https://www.sec.gov/Archives/edgar/data/1355677/000107878218000696/f10k033118_ex99z3.htm
https://www.sec.gov/Archives/edgar/data/1355677/000107878218000696/f10k033118_ex99z4.htm
One certain thing none may deny. The Sonora & Elena in person visitors are not usually found among the anti Mexus bunch so obvious here but instead are the long term majority holders. Any here seriously wonder exact why that is? Seeing is believing and no thought up tall fish got away tale. Down 70' and back in adit 50' hand dug by Azuka 20 years ago is still shining proof of the catch. Any doubt PPS is on the UP stairway just awaits SEC 10s arrival very soon?
Shoulda-coulda awaited any old SEC 10. 12 year insight? Scramblin still? Ya never learn! Doubled pad gonna be called pure future BS. Least big Cat's on the prowl. Guess thank DEB's Red Kettle?. Charity begins at home then goes to Caborca.
Update on mining operations at Santa Elena mine
3:01 am ET August 3, 2020 (Globe Newswire) Print
Mexus Gold US (OTCQB: MXSG) ("Mexus" or the "Company) announced that production at its Santa Elena mine in Caborca, MX continues with positive results. The company recently moved a 40 ton 6x6 articulated haul truck to the site which will allow for an increase in daily production. In addition, the company is updating a 330 CAT excavator to keep pace with the increased production in Pit #1 on the Julio vein and shear zone. Photos of Pit 1, overburden removal, and old workings. Assaying of the material now being worked has shown up to 16 gpt Au with an average of 2.1 gpt Au. Work on Phase 1 of 3 of the company's build out of the heap leach pad continues. Phase 1 includes the clearing of land and readying an area that will double the size of the current pad. Ultimately, Mexus will increase the size of the heap leach pad to a 500,000 ton capacity. Mexus continues to mine, crush and stack new material on the heap pad with ongoing gold recovery. The company is benefitting from the recent uptick in the price of gold.
Not so correct Dino. Date for the K exact is a bit vague off 3 different SEC messages to filers. BUT 10Q, usually unaudited, is due 45 days past June 30 which with no NT allowed MUST be 14 Aug. Result is? just could be a one time off combined filing I've myself never seen. Doubt are many arround either. Odd enough pandemic time to be considered, we'll see soon enough.
To be sure the majority owners gp wide open blog have discussed it as many things not possible here with 7 (count them active forums) and here's my 12th year thoughts with knowledge on how the CEO thinks. I do admit we've not conversed since last Oct 8, not MY request.
"Still THIS OFFICIAL Mar 9
Post by 8thaero » Fri Jul 31, 2020 1:49 pm
Some blowing smoke on hub there wil be no gold of note on 10K. Need to report both 16.5 oz sale and intial production 125 oz thus producing mine needing addnl audit by Mexican rules announced as cause of audit delay. "Market price" means nothing if not selling to pay for expansion. Be really strange to issue a Q prior to the long extended K supposed to bump PPS in reverse order. We know loading did not continue long in March BUT recovery did continue til now. 125 oz recovered by 9Mar @ $1600 is a cool $200K and nothing to sneeze at after all this time since unreported revenue from MarMar 2017 8.5 oz. Seems is to be the old QUICK 10K rush yards for field position followed by a long 10Q pass down field to be the PPS bump score at last. Best I come up wid were I coach. 8
"Mexus confirms sale of gold from production at its Santa Elena mine
CABORCA, Mexico, March 9th, 2020 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) confirmed its inaugural sale of gold totaling 16.5 ounces of the 125 ounces of gold recovered to date at a price of $1600 per ounce. Additional sales will be occurring shortly. With today’s market price for gold and ongoing daily production the company can afford necessary upgrades to its equipment and look to expand daily output."
Why issue a PR with both K and Q due in 13 days. Any decent anti here just blow it off as BS? Any doubt there?
https://www.investopedia.com/terms/1/10q.asp#:~:text=The%20SEC%20form%2010-Q%20is%20a%20comprehensive%20report,to%20disclose%20relevant%20information%20regarding%20their%20financial%20position.
"LOL.....so are wash trades. So is insider trading. So is brokering private placements by unlicensed brokers. So is unreported sales by management (40 or 50 days to report via Form 4)."
So wash trades are perfectly legal. What else? Insider trades? Also perfectly legal when reported as required and no action seems to have EVER been noted in SEC 4 comments on cumulative sales. Any illegals get a full investigation finalized by:.
" In an administrative action, the proceedings are heard by an administrative law judge who issues an initial decision that includes findings of fact and legal conclusions. Administrative sanctions include cease and desist orders, suspension or revocation of financial industry registrations, censures, civil monetary penalties, and disgorgement."
In other words.... WHERE ARE THEY? OOPS!
Unlicensed brokerage pvt placement ? I'd read up.
"One advantage of a private placement is its relatively few regulatory requirements."
Then check DPO's, SEC REG D's and even bother to find out what IS Private Equity.
Not much a track record in one near totally proven false statement, eh? Whew!
"What Is a Private Placement?
A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than on the open market. It is an alternative to an initial public offering (IPO) for a company seeking to raise capital for expansion.
Investors invited to participate in private placement programs include wealthy individual investors, banks and other financial institutions, mutual funds, insurance companies, and pension funds.
One advantage of a private placement is its relatively few regulatory requirements.
Private Placement
KEY TAKEAWAYS
A private placement is a sale of securities to a pre-selected number of individuals and institutions.
Private placements are relatively unregulated compared to sales of securities on the open market.
Private sales are now common for startups as they allow the company to obtain the money they need to grow while delaying or foregoing an IPO.
Understanding Private Placement
There are minimal regulatory requirements and standards for a private placement even though, like an IPO, it involves the sale of securities. The sale does not even have to be registered with the U.S. Securities and Exchange Commission (SEC). The company is not required to provide a prospectus to potential investors and detailed financial information may not be disclosed.
The sale of stock on the public exchanges is regulated by the Securities Act of 1933, which was enacted after the market crash of 1929 to ensure that investors receive sufficient disclosure when they purchase securities. Regulation D of that act provides a registration exemption for private placement offerings.
The same regulation allows an issuer to sell securities to a pre-selected group of investors that meet specified requirements. Instead of a prospectus, private placements are sold using a private placement memorandum (PPM) and cannot be broadly marketed to the general public.
It specifies that only accredited investors may participate. These may include individuals or entities such as venture capital firms that qualify under the SEC’s terms.
Advantages and Disadvantages of Private Placement
Private placements have become a common way for startups to raise financing, particularly those in the internet and financial technology sectors. They allow these companies to grow and develop while avoiding the full glare of public scrutiny that accompanies an IPO.
Buyers of private placements demand higher returns than they can get on the open markets.
As an example, Lightspeed Systems, an Austin-based company that creates content-control and monitoring software for K-12 educational institutions, raised an undisclosed amount of money in a private placement Series D financing round in March 2019. The funds were to be used for business development.
A Speedier Process
Above all, a young company can remain a private entity, avoiding the many regulations and annual disclosure requirements that follow an IPO. The light regulation of private placements allows the company to avoid the time and expense of registering with the SEC.
That means the process of underwriting is faster, and the company gets its funding sooner.
If the issuer is selling a bond, it also avoids the time and expense of obtaining a credit rating from a bond agency.
A private placement allows the issuer to sell a more complex security to accredited investors who understand the potential risks and rewards.
A More Demanding Buyer
The buyer of a private placement bond issue expects a higher rate of interest than can be earned on a publicly-traded security.
Because of the additional risk of not obtaining a credit rating, a private placement buyer may not buy a bond unless it is secured by specific collateral.
A private placement stock investor may also demand a higher percentage of ownership in the business or a fixed dividend payment per share of stock.
Related Terms
Direct Public Offering (DPO)
A direct public offering (DPO) is an offering where the company offers its securities directly to the public without financial intermediaries. more
How Book Runners Work
A book runner is the main underwriter or lead manager in the issuance of new equity, debt, or securities instruments. more
SEC Regulation D (Reg D)
Regulation D (Reg D) is a regulation that allows smaller companies to sell securities without registering with the Securities and Exchange Commission. more
Private Equity Definition
Private equity is a non-publicly traded source of capital from investors who seek to invest or acquire equity ownership in a company. more
https://www.investopedia.com/articles/investing/021815/how-sec-tracks-insider-trading.asp#:~:text=Insider%20trading%20is%20legal%20when%20corporate%20insiders%20%E2%80%93,%28SEC%29%20on%20certain%20forms%20within%20stipulated%20time%20periods.
When NO NEWS yet required claimed to make for bad news.
7 days"expected" for audited 10K turns ta 16. Oh well, yes don't worry. Always Aug 14 latest to be on time to also be 1st qtr 10Q. Is that possible and a reasonable answer as well? Only one way to find out. WAIT for sign off and issue!
Somewhat confused. Both may appear near same time but unaudited Q will show to June 30 2nd qtr sales of 3 months well more than EOY Mar 31 sales REQUIRED an audit. But here's even more pointless nonsense posted ever on.
So which is out and out pure lie as usual? May we conclude independent auditors are in on "OUR SCAM" by a delay signing off on newly announced Mexican PRODUCTION SALES? Yeah, that's it.
"Never mind that the 10K coming out (maybe) on August 14th will have no gold sales"
Or how's fer this truth
"I suspect that (10K) we will see somewhere in the hundreds of ounces recovered and sold once the ink dries. But that’ll be a far cry from any crying that NOTHING has been sold"
" The audit process was delayed due to the company moving from an exploration company to a PRODUCTION company. The auditors required additional information concerning the SALES OF GOLD and the accounting procedures put in place as required by Mexican law."
OPPS, maybe we just wait and see published truth for a REAL change.
Just a note on some "JUST QUIT AWREDDY" history.
When Patton finished 3 day march N lifitng Xmas '44 Bastogne siege he turned East again to own siege of Trier on the Mosel, my frau's home town, Germany's 2000 year old Roman fortress still blocking his East advance on the Rhine. Georgie S. told his 3rd Army tank gunners to "LEVEL IT!" and he rolled on swift on to "take a leak in the mighty river" it is stll told. Mexus has won the war here ...I'd just move along & quit making worser bad enemies, ya'll. Already have more than can possibly need. Lies been well outed. one mo time.
OH, were still rebuilding much of Trier whan I got there in 1969, quarter centrury later. Did it up real pretty as new for tourists again. Meantime? Elena never in ruins nor halted all ops still open for biz as usual; just visits pretty limited IAW SEC and Mexican law dictates of late.
Some not paying much attention? READ UP! If 10k says nothing else if must include AUDITED SALES OF GOLD announced since production began as announced Mar 3 at a cost of $376 per oz. of gold.
Mexus Gold US (OTCQB: MXSG) ("Mexus" or the "Company) announced that the company satisfied a $57,000 note payable by way of conversion. In addition, Mexus' audit obligation has been met with the audit expected to be completed in the next 7 days. The audit process was delayed due to the company moving from an exploration company to a production company. The auditors required additional information concerning the SALES OF GOLD and the accounting procedures put in place as required by Mexican law. Future audits are expected to be completed and released in a more timely manner.
Mexus confirms sale of gold from production at its Santa Elena mine
CABORCA, Mexico, March 9th, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) confirmed its inaugural sale of gold totaling 16.5 ounces of the 125 ounces of gold recovered to date at a price of $1600 per ounce. Additional sales will be occurring shortly. With today’s market price for gold and ongoing daily production the company can afford necessary upgrades to its equipment and look to expand daily output.
“I would like to thank and congratulate the shareholders that have believed in and supported Mexus. With production sales started, Mexus plans to be debt free by January 1st, 2021 and will seek to increase shareholder value in the near term. I will be holding a telephone conference in the near future.” added Mexus CEO, Paul Thompson.
Mexus looks to expand operations at its Santa Elena mine
CABORCA, Mexico, March 16th, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that gold production continues daily at its Santa Elena mine in Caborca, Mexico. Additional revenue will now allow the company to expand hours of operations and add staff which will lead to an increase in production. Mineralized material being mined has been assayed from .5 to 6 ounces gold per ton and includes microscopic to barely visible gold. The microscopic gold starts to leach within 3 days with grades of .41 to .52 grams per ton with the larger particles taking longer and returning 3.1 grams per ton gold. Mexus is pleased with the net return to the pregnant pond.
Mexus announces operating costs lower than expected and confirms positive cash flow obtained
CABORCA, Mexico, March 23rd, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade of mineralized material which brings the net cost down. The crew at the mine is gaining experience every day and taking expansion one step at a time. With a tightly controlled operation the company expects to be producing 10 oz. of gold per day within 60 days. Mexus is now operating at a positive cash flow which has been a long-standing goal of the company.
Mexus announces operating costs lower than expected and confirms positive cash flow obtained
CABORCA, Mexico, March 23rd, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade of mineralized material which brings the net cost down. The crew at the mine is gaining experience every day and taking expansion one step at a time. With a tightly controlled operation the company expects to be producing 10 oz. of gold per day within 60 days. Mexus is now operating at a positive cash flow which has been a long-standing goal of the company.
MEANTIME
Amzaing update replica of "CEO"s on first!" You go Bud N Lou! HILARIOUS!
"Was that $400k a donation to Mexus?"
Was his land sale just as now honestly told 'Lou' to finance buy out Action Fashions . Team suddenly no longer wearing Capezio pink ballet slippers but Mexus US Gold pin stripes!!
https://www.sec.gov/Archives/edgar/data/1355677/000138730809000085/form8k.htm
https://www.capezio.com/children/shoes/ ...
"Great point! Well taken. This filing will show no gold sales."
"A "production phase" company with no gold sales? Inconceivable!"
The audit process was delayed due to the company moving from an exploration company to a PRODUCTION company. The auditors required additional information concerning the SALES OF GOLD and the accounting procedures put in place as required by MEXICAN LAW.. Future audits are expected to be completed and released in a more timely manner.
https://www.bing.com/images/search?view=detailV2&ccid=%2Bbmq0Pxh&id=2F9C425D9C7055B4937F59B9F0AEF0D80CCC59D6&thid=OIP.-bmq0PxhCLjuTYQ2hLhj2QHaEv&mediaurl=https%3A%2F%2Fwww.memorabletv.com%2Fwp-content%2Fuploads%2F2017%2F12%2FAbbott-and-Costello-Whos-on-First-.jpg&exph=381&expw=595&q=who%27s+on+first+abbott+and+costello&simid=608017466063260661&ck=96CAB5279A54359FC57D0DDCDF77391C&selectedIndex=0&ajaxhist=0
Have unaware wandered into Bizarro Land!
Start ANY truth seeking DD with:
To say one man corp is not legal in ALL states?Is obviously illegal. Post cannot fly.
"Can a corporation have just one owner?
After all, corporations need to have boards of directors and hold shareholder meetings -- which sounds more like a room full of suits than a single person working from home. However, all states do allow corporations to have just one owner. You can be the sole shareholder, director and officer for your company."
Continue with:
"There's no swindler like an old swindler".
So now CEO age as age discrimination no no? More illegaL.
Age Discrimination | U.S. Equal Employment Opportunity ...
https://www.eeoc.gov/age-discriminationhttps://www.bing.com/search?q=age+discrimination&form=ANNTH1&refig=92dd6386b28541869a3ad1bb005a796b&sp=2&qs=LS&pq=age+dis&sk=PRES1LS1&sc=8-7&cvid=92dd6386b28541869a3ad1bb005a796b#
Follow with Azuka swindled CEO at San Felix
ALL gold theft recovered in planned MOUSE TRAP catch Hermosillo Court allowed to use as evidence to imprison on old unserved warrant. Felix plant was SOLD at contracted $4 million to 50% JV partner Atzex Group. Failed to fulfill the contracted $3,600,000 in 2014 as recorded in the ' 15 10K. Nothin else could be done so did take back 100% control ongoing also to be SEEN in 10Ks since.
Read up! All so far simply bizarro backwards and as untrue as ever.
"MarMar swindled Mexus" at Elena constructing cost infrastructure with no consequences due to a legal one owner corp.
10Ks ALL will show MarMar completed construction of ( non leaking) pads, plant area and needed infrastructure long since cost expensed to both 50% JVs prior to Mexus took to court for non paid agreed on 50-50 JV non compliace. Now with MarMar ejected since mid '18 from all Sonora leaving Mexis with all Elena owned 100% in profit announced cash cost not unproven $376 oz. Sound like an unknown SEC exception test mining HIGH revenue winner?
A one man BOD allowed PRs to be issued with fraudulent assay averaging of Argo drill holes. And then did the A one man BODexact same thing with the Mexus assay data.
None of any legal consequence says that. One man BoD proved quite legaL
"A real BOD could have saved Mexus some money and earned them some credibility? Too late now."
We did this one to begin trashing pure nonsense with good DD..
"Can a corporation have just one owner?
After all, corporations need to have boards of directors and hold shareholder meetings -- which sounds more like a room full of suits than a single person working from home. However, all states do allow corporations to have just one owner. You can be the sole shareholder, director and officer for your company."
Never too SEC late ? Try SEC 10K approved due Aug 15.
How's we let the 10K "NEVER TO BE PUBLISHED", "Trips by Jan 1st" audited 10K disprove all the lies seen RIGHT here this monent. Try truth published for all to see awhile. REFRESHING!
Then? Time ta slip away.
But don't take too long.
Well we do live and learn. Now we know SEC's on time is REALLY ALREADY TOO LATE and the CEO does not control auditor's sign off when he says "expected" not on the dot day and time. About like all the felonies SEC never commented on for cumulative non controlled share sale late reporting. So that HAS to call SEC incompetent year after year. How fortunate to have such excellent strict rule experts to direct our every 24/7 thought. But what of obvious Rule exceptions again year after year so elusive in printed form. Yet more SEC incompetence. What to do, what to do? Best? Go with the 8 decade flow, use any test mining exception available as revenue or cost reduction expensed.
Just a silver comment now seems so passe. On my strict self paid for investor DD only first 3 of 7 visits, never an official moment so no Mexus involvement scam possible, sorry lyin fellers, we did not discuss silver at all as as agreed by the Family they knew of none to be found. A century of near surface nugget detecting and man sized vein digs they did not believe much could exist without their knowing. To be sure nugget form is usually electrum and contains other metal than gold so one good reason not to leach other than extremely slow cyanide recovery. Nuggets were all 92% natural formed easily sold coin grade to local dealers. Small Elena silver content was seen in later drilling programs going on now into a decade. Mexus silver chances are in much purer and huge expansive URES claims when time and funds are at hand to develop process.
"Electrum is a naturally occurring alloy of gold and silver, with trace amounts of copper and other metals. The ancient Greeks called it 'gold' or 'white gold', as opposed to 'refined gold'. Its colour ranges from pale to bright yellow, depending on the proportions of gold and silver. It has also been produced artificially, and is often known as green gold."
No longer possible to post past financial SEC filings to show how it was and can be done but the actual Test Mining rule exception to Rule 7 now
S-K 1300 is SEC accepts test mining producer with NO Reserve yet proven up. If it still could be seen as ONLY POSSIBLE TOPIC APPLIES? it may take 3 to 4 years of actual PRODUCTION drills to file that mineral reserve. Or could be assembled any day ANY qualified person employee or not
feels sufficient to ask SEC to take it as a filed fact. Some been here done that if some silly un-proven EXPERT users want to believe published statements and even financials filed or not. Past WAS is NOT the present IS let alone a day of the many future possibles.
Truth never lasts long but if you KNOW SEC does NOT allow PM sales revenue without legal right to produce it? Sits right before apparent blind eyes. NOW S-K 1300 finally defines what a minable resource is after 8 decades but also need is a defined RESERVE a test miner cannot claim for the resource he is test mining. OH GOSH! OK LKAI, lets call our product tons and tons of decent grade sold to a refinery producer or better yet let's go as GORO with low grade PM in 2 ton sacks of base metals. Yeah that's it. So what's small dore maker gonna claim when can't call PM sales with no SEC right to do so? Let's wait and see since COMMERCIAL PRODUCTION as SEC accepts it is awaited to file
first ever test mining sales. While have gotten self wrapped up in falsehood reporting claims never made? Let's see how fully PAID FOR auditors do that for a PRODUCER if you accept the SEC filing term or not
since is NEVER a message bd expert's call. Still wish to bet next week's 10k will never be filed? I'll call and raise on that one. Drop the River Card please, dealer. Make my day.
"Well, that didn't take me long. In 2 minutes, I found that the very next 10-K issued by GORO in 2015 stated this:
They appeared to be playing by the rules. Why can't Mexus?"
So now my old 1st & largest pvt investor in GRC is the model child? Are we even on the same playing field forget the goal posts.
Still continue now for years to deny the test mining product rule exception exists in no longer Guide 7 but new S-K 1300? Either awful admitted ignorance or out and out continue to simply post lies.
https://www.dorsey.com/newsresources/publications/client-alerts/2019/02/new-mining-disclosure-rules-2019#Exploration
Since last year Mexus HAS a new defined resource to mine at profit just still no defined reserve . You have no idea of what you still babble on with the equally non current buds. Really , give up the senseless misunderstood 80 year old newly redefined rule exception for very small corp test mining revenue reporting on SEC financials.
"Here is the definition of the phases of mining company, straight from SEC's Guide 7:
Quote:
(4) (i) Exploration State — includes all issuers engaged in the search for mineral deposits (reserves) which are not in either the development or production stage.
(ii) Development Stage — includes all issuers engaged in the preparation of an established commercially minable deposit (reserves) for its extraction which are not in the production stage.
(iii) Production Stage — includes all issuers engaged in the exploitation of a mineral deposit (reserve)
NOW ALL EXPIRED. EVEN YOU MUST KNOW THAT MUCH!
"See that word "reserves"? Something that Mexus does not have and based on the drill results, never will."
AND WILL NEVER NEED TO! READ UP . Mexus lists an economic resource for extraction. PLEASE...TRY to remain current fer gosh sakes. Years now years on in error.
Guide 7 written 80 years ago
"What is a mineral resource?
Not defined"
S-K 1300 NOW
"Defined as a concentration or occurrence of material of economic interest in or on the earth’s crust in such form, grade or quality, and quantity that there are reasonable prospects for its economic extraction."
MEXUS IS TEST MINING AN SEC DEFINED ECONOMIC RESOURCE AT PROFIT. NOW HOW TO REPORT IT ON FINANCIALS AS NON ASSET.
Now with AUDITED SEC commercial precious metal production claimed attained? With no proven resource filed with SEC? REALLY illegal IAW S-K 1300 this month to claim PM bars or bullion sale as revenue. Mexus needs to watch its step until resource drilled over PM product years to come. Majority infrastructure expensed to cost about all available IAW SEC Rules or find a tons of ore buckets or float sack dodge. Ask a REAL expert.
ONCE? Try try posting SEC filed facts not own fingers twisted up lies.
"QUOTE
(REVENUE FROM) SALES OF (2 ton supersacks of powered 3) metal ( flotation) concentrates, net.
Sound like revenue off PM dore bars? Base metal powder with some decent PM content in 2 of 3 sacks Metal concentrate POWDER for someone to make PM metal ,.since with no recorded resource it cant be used by the miner for revenue just expensed for near all production claimed. Small amounts can be used as asset not expensed But just what are they? Audit is used to show which can be used in financials.
"GORO used really bright but funny dodge of producing 2 ton supersacks of 3 types flotation powder shipped by semi truck for another to make metal claiming revenue often disputed by fraud weighting not possible with precise metal bars; copper/gold , silver /lead and near pure zinc. Gold silver and THREE, COUNT EM, base metals. Neither revenue sources are near equal to Mexus processing as commercial dore PM. THAT SHOULD END THAT NONSENSE FOREVER.... OR pick other source of revenue info, desperation to be not over and over false but true at last. Lotza luck!"
Quote:
Sales of METALS CONCENTRATE, net
2012
$131,794
2011
$105,163
2010
$14,754
"Mine Exploration Costs
Mine exploration costs are capitalized and amortized by the units of production method over estimated total recoverable proven and probable reserves. Amortization of mineral rights is provided by the units of production method over estimated total recoverable proven and probable reserves. Costs related to locating and evaluating mineral and ore deposits, as well as determining the economic mineability of such deposits, are expensed as incurred. All COSTS!!! related to mine exploration and expense WERE EXPENSED DUE TO to there being NO proven and probable RESERVES.
Since resuming operations in the first quarter of 2009, LKA has, as of the date of this Report, shipped and/or sold 13 bulk ore samples containing over 2,040 ounces of gold derived from exploratory mining operations. Ore shipments for 2009, 2010 and 2011 are as follows:
Tons Oz/ton Gold (Oz)
2009 88 3.82 337
2010 559 1.07 599
2011
539 1.46 787"
WELL! After years now of total falsehood claims the Guide 7 Rule Test Mining no resource PM revenue exemption doesn't exist... NOW it does but yet so sadly still false misquoted. Own and my best examples show NEITHER claim PM product revenue . LKA sold bulk ore samples assumed in some profit to someone else to produce PM they had right to do with mineral rights owned. GITIT? You say so yo self. Mexus is into PM dore production which can only be expensed to explore/develop cost no resource proven. GORO used really bright but funny dodge of producing 2 ton supersacks of 3 types flotation powder shipped by semi truck for another to make metal claiming revenue often disputed by fraud weighting not possible with precise metal bars; copper/gold , silver /lead and near pure zinc. Gold silver and THREE, COUNT EM, base metals. Neither revenue sources are near equal to Mexus processing as commercial dore PM. THAT SHOULD END THAT NONSENSE FOREVER.... OR pick other source of revenue info, desperation to be not over and over false but true at last. Lotza luck!
"Mine Exploration Costs
Mine exploration costs are capitalized and amortized by the units of production method over estimated total recoverable proven and probable reserves. Amortization of mineral rights is provided by the units of production method over estimated total recoverable proven and probable reserves. Costs related to locating and evaluating mineral and ore deposits, as well as determining the economic mineability of such deposits, are expensed as incurred. All COSTS!!! related to mine exploration and expense WERE EXPENSED DUE TO to there being NO proven and probable RESERVES.
Since resuming operations in the first quarter of 2009, LKA has, as of the date of this Report, shipped and/or sold 13 bulk ore samples containing over 2,040 ounces of gold derived from exploratory mining operations. Ore shipments for 2009, 2010 and 2011 are as follows:
Tons Oz/ton Gold (Oz)
2009 88 3.82 337
2010 559 1.07 599
2011
539 1.46 787"
"This quote from a filing talks about how expenses are reported for an exploration phase company. It talks about how the company plans to report assets. It does not talk about being prohibited from reporting gold sales or revenue.
I have found other examples of exploration phase companies that were more than happy to report gold sales as revenue. Here's one"
: https://www.sec.gov/Archives/edgar/data/831355/000101041212000156/lka10kmbcommentsv2clean.htm"
Commercial Production
During our initial two quarters of commercial production, which occurred in the second half of 2010, we produced 10,493 ounces of gold at an approximate average cash operating cost of $217 per ounce, net of by-product credits. See, “Non GAAP Measures in Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation” for more information.
Overview
We commenced commercial production July 1, 2010 at our El Aguila Project, part of our Oaxaca Mining Unit, generating $14.8 million in revenue for the year ended December 31, 2010. Prior to 2010, none of our properties were in production, and consequently, we did not record any revenue from the sale of minerals. We expect to continue to incur losses and may rely on equity financing to fund our operations, until such time as production is able to generate sufficient revenues to fund all continuing operations.
We continue to refine our ongoing capital requirements. Although we have no specific capital budget for 2011, we anticipate finishing Phase II of our tailings dam, continuing the development of the La Arista underground mine and incurring exploration costs. In 2011, exploration costs related to our El Aguila Project, El Rey and Alta Gracia properties are expected to be approximately $500,000 per month. As an exploration stage company, there is significant uncertainty in our estimates regarding both future costs and future revenue. We may require additional capital resources to complete our plans.
Exploration Stage Company
We are considered an exploration stage company under the SEC criteria since we have not yet demonstrated the existence of proven or probable reserves at our El Aguila Project in Oaxaca, Mexico or any of our properties. As a result, and in accordance with accounting principles generally accepted in the United States for exploration stage companies, all expenditures for exploration and evaluation of our properties are expensed as incurred. Furthermore, unless mineralized material is classified as proven or probable reserves, substantially all expenditures for mine and mill construction have been or will be expensed as incurred. Certain expenditures, such as for rolling stock or other general purpose equipment, may be capitalized, subject to our evaluation of the possible impairment of the asset. As required by the SEC guidelines, substantially all of our expenditures to date, including construction of the mill, have been expensed and we expect to expense additional construction expenditures in 2011 related to the Phase II tailings dam construction and the underground mine development at the La Arista vein system. Therefore, most of our investment in mining properties and equipment does not appear as an asset on our balance sheet. We expect to remain as an exploration stage company for the foreseeable future, even though we have reached commercial production. We will not exit the exploration stage until we demonstrate the existence of proven or probable reserves that meet the SEC guidelines.
Our accounting treatment as an exploration stage company regarding the classification of construction expenditures as an operating expense rather than as a capital expenditure, has caused us to report large losses during the last two years instead of building assets on the balance sheet. Although the majority of expenditures for the El Aguila Project were completed during the last two years, we expect underground mine construction and tailings dam construction to continue in future years. In comparison to other mining companies that capitalize development expenditures because they have exited the exploration stage, we will report larger losses or lesser profits as a result of this ongoing construction which will be expensed instead of capitalized for accounting purposes.
Exploration of our properties accelerated in late 2006, continued throughout 2010 during production ramp up and we expect them to accelerate again in 2011. From inception to December 31, 2010, we expensed approximately $29.2 million on the exploration and evaluation of our various properties, substantially all of which has been spent on the currently active properties known as El Aguila. In addition, we have expensed, from inception to December 31, 2010, approximately $54.1 million in design, engineering, and construction and production ramp up costs all of which apply to the El Aguila Project.
Been posted MANY times as previous Guide 7 Rule exception is VERY CLEAR NOW 8 DECADES and last year revised to be even clearer. We do understand the personal causes may force some to post lies. Keep at it if a real need but hardest practice can never make any less perfectly wrong. EXACTLY AS SEC DEMANDS REPORTING non GAAP Test Mining I was taught by actual real SEC experts to do best DD on start up small miners no proven resource last 25 years.
"Risks Relating to Our Company
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."
https://www.sec.gov/Archives/edgar/data/1160791/000107997308000414/grc_10k-123107.htm
Really looking fwd to the day will not need to wade past past events to see current mine production events not denied as they occur and a bright mining future in totally never seen POG. Well worth the wait to taste sheer ambrosia.
Took a time looking but seems original edict all must obey or SEC does no knocks at 3 AM. Full 2 years 7 months nonsense does seem to spring eternal. All time we note freely donated anywhere anytime. Just never near to Caborca. Nite nite means long delayed well deserved late beddy byes.
gitreal Member Level Monday, 12/19/16 12:37:40 PM
Re: TMLonggun post# 11691 0
Post #
11707
of 38328 Go
"Say Mexus used the international standard and had 43-101 proven and probable reserves
Is Mexus a Canadian-traded stock? Why even bring up the 43-101 standard?"
TMLonggun Monday, 12/19/16 04:23:11 PM
Re: gitreal post# 11707 0
Post #
11713
of 38329 Go
"I already explained that. The NI 43-101 is the international standard used by Canadians and their massive, world-wide mining industry along with the majority of mining companies in foreign countries that desire Western capital and credibility
Aside from the typos that post did contain one notable error. After I hit submit I remembered that there is one way that a mining company can earn significant income from exploration - via bulk samples or limited test mining. This income totally makes sense being billed as "exploration." Yet being in continuous commercial production for years while expanding to mid tier status and paying dividends along the way and then having that declared as exploration by the SEC is not an accurate description of what was really happening at the GORO mine site."
"What's stopping him?"
Perhaps due 4 years hard labor overcoming each/every obstacle to build latest successful Test Mining infrastructure to SEC accepted continuous production and find it here proclaimed has gone from a LEVEL 4(40%)Red Flagged scam to latest 50%, abetted by the Comiss. itself.
" Doesn't matter, Mexus is now dark for at least another 6 weeks. I give them a 50/50 chance that they will ever file the 10K that was due this month, and now delayed through middle of August. I am sure there will be more excuses to delay it further."
On March 25, 2020, the SEC issued an Order under Section 36 (Release No. 34-88465) of the Exchange Act (“March 25th Order”) which modified the exemptions of the March 4th Order to cover filings due on or before July 1, 2020.
When BULL's a great compliment.
Game of riding Bulls is called a Rodeo and pays to been there done it. "Perfect Mine" example was riding last Bull with the Reid brothers 1997- 2011 in USGL then GORO as Rob McEwen took on USGL in 2005 now his MUX. Freed Reids to form GORO in Oaxaca to demonstrate Test Mining with no expensive long term feasibility study is way to go during basing Bull with no funding availability. Just go and produce as much higher POG profit proved out. MXSG follows the blue print now as 100% owned St Elena in production low cost gold ounces. What do msg bd experts with no situational awareness know to pay heed? Beats me.
Still hard to believe NY can quarantine any come there from Texas or can't simply fly to Germany but some oddly feel Mexus can't delay the SOLE officer filing 10 for an extra period beyond the normal 14 NT days allowed even during world wide crisis killing millions for 7 months.
"Who are these people, Sundance?"
As to when an RS when have to Mar '22 and more than 3 billion shares to issue if a need but not said foreseen past a cash pay off by Dec? Need is to simply produce next 21 months in POG $1760 claimed in profit and
coming farther rise seen by near all I trust. Get one GREAT shot at
a 2 to 20 RS when the resulting PPS allows most advantage as on a new national exchange. Like adult entertainment? Will know it when you see it.
Meantime hard to think of a better biz plan than a debt free gold miner producing in better than $1300 oz profit and see UP from there in recognized decade long raging bull.
All opinions are mine but experience shown good or better than most by success.
NOT hardly well advised in accord with history. WISE folk hid the $20 Eagles which went up 70% to $34 but are the rare coins collectors search for above $2000 their now old grand kids own. Gold was held at about $40 until Nixon closed 1971 gold window and rose to $150 very soon. Been a roller coaster. Now at $1760 but FDRs' worst deed was to shut down gold mining in 1942 as WW2 non essential when we really needed LEAD! A blow took a LONG time to recover. Was what closed down the Comstock till 2003 and some here know well current miner became LODE or how to drop a LOAD then become a REAL ESTATE business.
"Traveling to Mexus' purported office in Carson City should not be difficult under any circumstance, including COVID."
OOPS!! Good luck doing much research at the not "purported office" small private mail drop box building on N Carson. It does land rush business as near the NV Secretary of State approves corporate applications needing a Nevada address. Mail gets prompt forwarded to real, we know, office in Walnut Grove CA. Std NV biz ops. Bout any fool'd know as much but never can tell one from next .
By the way I and others I know mailed in my audit response about
2 weeks ago with no need to visit me in San Antonio. There is such a thing as electronic communication. I'm not infected but assume some are among the millions have been sickened or even died on the pathway to audit?
If we all finally agree we have no SEC approved minable assets, the frequent loan pay offs were at bad but usable rates due lack of same non SEC approved resource thus were not expensed as they occurred, so far paid in shares. The last, apparently, will be in cash so becomes an operating cost non dilutive. Crazy stuff, but if working we're told $1000 in profit the cash will be there any time needed and sooner the better then onward and up as all revenue??? collected so far is simply minus other costs acquired to be in operation producing PM. If we had gold produced last year we'll just see how it is presented when it is made available as timely 10K SEC approved delay ALONG WITH SOME THOUSANDS other newly 8K'd corps. Bit dim perhaps but hardly DARK with the other thou or so also in
due timely SEC allowed filing.
Real hard to imagine any treat world pandemic as a dodge. We sure know
takes all kinds and we do got some.
"You are right, Mexus is not a Production phase miner. Also, they don't appear to be in the Development stage either, as their attempts to define reserves have stalled - the drilling results were terrible, and there does not appear to be any efforts to do the promised "3-D Modeling" or the 43-101 report (not that Mexus can call it that anyway). Any attempt to model those horrible drill results would show that there is no continuity or grade that supports mining. So, better off if they don't try to model those results."
"So how is the incoming cash from the sale of gold handled or reported on the financials or in the cash-flow statement?
Ooops. Forgot about that part, huh?"
So The Commission Chairman HISSELF explaining newly revised S-K 1300 enhanced Rule Exception for test mining aint good enuf
for a silly nonsense posting group of anti anything positive Mexus? . Well,Gollee! Where' s that test mine rule exception for investor financing and fullest info discuss required 3-D models, 43-101 or even needing to achieve proven resource? Can just test mine forever it appears and SEC has no problem just claims operating cost expensed and little assets. Different appearance financials but same basic result to shareholds.
OOPS! Lie it all away again and dodge all with an attack on the messengers, me and SEC Commission Chair. If I'm for sure unofficial? He sure is! Makes very rules you ignore. How 10-K preparer chooses as to where it is applied as operation cost, non-asset? I've NO IDEA so wait and see seems correct move till July 14. Old joke goes , "Patience, mule".
I get to post verbatim truthful NEW PUBLISHED SEC RULE EXCEPTION S-K 1300 once daily and the arrows fly next 24. Matter of sticks and stones nonsense. Nah nah nah nah nah...NAH! Childish stuff.
Post by 8thaero » Sun Jun 21, 2020 5:10 pm
When caught in latest lies? Lie and deny it all exists in financials EXACTLY AS SEC requires. It's to be a 10-K, BTW. We've simply not become accustomed to the insanity repeating it will be different than new S-K 1300 allows and requires this time.
"You are correct, Mexus is required to disclose gold sales as revenue in their financials. They can’t just say that the revenue is offsetting expenses. Anyone claiming so, doesn’t understand how reporting of financials work.
Mexus will be proven a fraud yet again once their 10-Q comes out.
This should come to no surprise as Mexus has consistently lied about nearly everything about their alleged operation for their entire existence.
Mexus is undoubtedly a fraud.?"
OOPS! I'D READ UP
10-K Filed in 2008 under old Guide 7 Rule exception
"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 United 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."
https://www.sec.gov/Archives/edgar/data/1160791/000107997308000414/grc_10k-123107.htm
Lies piled on lies? Took GRC another 6 years to finally report reserves and claim all exploration/development as an asset. Now who's a proven fraud?
Dittos, Ellie, and if any bother to actually read the 2008 and on SEC filings of Gold Resource? Exactly as has been claimed, a textbook of
non resource test mining from initital discovery ground up non asset infracture building by exploration-development into commercial product with the Guide 7 rule exceptions allowing special financing and more fully informed accredited investors. Recent Rule S-K 1300 made
even more so. NEAR EVERYTHING seeming demanded here has been seen as
pure BS to any with ability to read Bill Reid's trailblazing small miner organization-formation being followed by Mexus in his PERFECT 3 step mine operation. now seen in Mexus moving foreward. Little Old Miner's "Time to make the gold"!
"You're the one allegeding gold sales are in the financials, ergo you're the one being asked to support that claim. Otherwise, admit that you can't substantiate there have been gold sales.
Also, I don't completely buy your line that gold sales can't be reported as such, but I'll conceed that point as the overall argument that the sales have to be reflected somewhere in the financials is still intact.
I've NOTHING to do with anything Mexus. Is there some totally erroneous impression I do? Might be part and parcel of all 's wrong with these experts posting daily nonsense. How would I substantiate anything ever? Not in agreement with the SEC newest S-K 1300 rule exception? Tough luck there, Champ!
"Goro showed revenue starting in 2010 mexus still zippo"
Only took 12 years and $82 million to build out a NON-ASSET infrastructure. AND is NOT a LOSS as operating cost I keep trying in to explain away the funny fuzz think posts. Multiple failed non JV financing efforts missteps all along. Mexus came in dirt cheap self built. Be happy to let all wade through early years of SEC files 2008 - 2014 when resource filed from operatring drills.
(August 24, 1998) to
2010
2009
March 31, 2010
Cash flows from+ operating activities:
Net (loss)
$ (7,265,492 ) $ (7,141,309 ) $ (82,083,213 )
Adjustments to reconcile net (loss) to net cash
https://www.sec.gov/Archives/edgar/data/1160791/000107997310000566/grc_10q.htm
Now as Mexus finally works in next decade of a MUCH gooder market is no need for more. Even fence sitters will take a seat long last. Taken years but most now admit they know that SEC has an even stronger rule exception for small test miners. And want ME to tell them how it's filed as use of revenue. Like I write the 10K?
Can actually claim it and doubt SEC will bitch. GORO simply called it sale of CONCENTRATED 3 metal floatation. Copper/Gold, Lead/Silver and zinc. Refiner made the PM and base
metals counted as PM equivalent in cost reductuon. Looks like we'll need not too much of that just silver making 92% coin grade. Funny way they like GRC as how to drill a resource 1st till bring up it was later PRODUCTION drills to fill in the resource squares and NEVER a Feaze made at all. Simply start working in good ore and keep it up. Explained by Bill Reid in 2003 initial meeting as opening the perfect mine.
1. Raise funding for mine build out. Is never called debt since will pay back by in-profit over time and is a long term tax write off as well. Proper DD will show this to early investors.
2 Use JVs as possible when a need but never let control leave the corp. Sole need is sufficient ore to reach and remain in profit.
Mexus finally reached this goal in 2018, 100% control after 2 failed JV's.
3 If possible begin meaningful dividend as soon as in sustaining profit.
June 2010 in full production. July 2010 initial .06 monthly dividend paid and in lesser div ever since with POG down much reduced profit to POG $1050.
All's to say it worked exactly that way in 9 years from initial concept in era of POG $250 climb to $1900. NOW? In my opinion? Here we go again... and again? First one in some odd reason.
Notices of more informed investor are now required. But it never took place, right? S-K 1300 even more stringent with many states such as Nevada about iron clad need to inform FULLY to know all of any need to compare and invest in small miners. But I'm makin it all up, correct? -
"Helping you make informed decisions
Dear ....
We want to let you know that the Securities and Exchange Commission (SEC) introduced a new Client Relationship Summary known as Form CRS. The new Form CRS has an effective date of June 30, 2020. It should further strengthen the relationship between you and TD Ameritrade. The Form CRS will help provide you with information that will help us continue to work well together.
Form CRS helps you make more informed decisions
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Learn more
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Sincerely,
TD Ameritrade"
6 mil buy @ .0038 1 mil sells. Some read Get out of jail free PR as positive, right?
QH, WELL! Then you must mean OTCQB exploration developer test miner Mexus Gold, been covered since 1933 under exception to Guide 7 modernized as S-K 1300 which can not report by any standard GAAP as a non-GAAP test miner requiring now even more fullest disclosure to accredited investors and as OTCQB can't be used by investment groups due to usual bylaws require at minimum OTCQX which accepts no penny stocks..OOPS! Now quite clear, Why didn't you simply say so?
Securities and Exchanges Commission´s S-K 1300 Guide
https://www.mining-plus.com/post/sk1300
After over 30 years the Securities and Exchanges Commission (SEC) in the United States is replacing Guide 7, which has been used by companies with material mining assets reporting to SEC, with S-K 1300. S-K 1300 will come into effect on January 1st, 2021, however, registrants are encouraged to adopt S-K 1300 …
This post ONLY reaffirms SEC new rules affecting Mexus as a non-resource proven test miner in accordance with SEC Commissioner statements posted a few times now.
Official SEC Rule Mining Industry modernization. What the SEC Commissioner ACTUALLY says in person. Can't possibly be denied. IOW what's GAAP got to do yet with anything Mexus?
Can't quote GAAP for NON-GAAP finance reporting! Sure not a private gp like 0ld 1999 GASB 34. OPERATIVE CONCEPT IS TEST MINING.
How often does he have to say it to sink in? Old joke goes look at my feet they're long fellows. "Listen my children and you shall hear what the SEC Commissioner has tried to make clear". Modernized Guide 7 and rule exceptions are now new subpart 1300 of Regulation S-K.
Until a test miner has proven resources it still does not have the actual right to mine them and call it revenue from PM sales, rather must be declared as an expensed cost reduction somewhere so look for it where the cost accountant does so. Still like Guide 7 Rule exception cost of operation establishing a resource proven mine by test mining can not be an asset but an expense. Anyone may look it up and THEN be an explore/develop no proven resource TEST MINING expert. Sure aint normal GAAP anything
SO... Under old SEC guide 7 ABSOLUTE NON-GAAP rule exceptions until a TEST MINER has established a proven resource any sales revenue is applied to an expense and near all expenses are cost of operations. Some certain costs can be considered an asset such as prepaid insurance. Under now S-K 1300 Non resource explore and development test mining construction costs are not considered an asset.Those costs build infrastructure so can't be both.
I've been here before with test mining Gold Resource Corp and am POSITIVE as is none other here. What can Michigan possibly have to do with Gold Respource or Mexus Mexican test mining operations with no SEC proven resources claimed? AFTER sufficient TEST MINING drills are certified to claim a workable resource in a few years, come back when construction and operation costs become a proven resource asset and SEC recognizes the difference.
"SEC Staff Issues Important New Guidance on Use of Non-GAAP Financial Measures" SEC Update
"FAST Act Securities Provisions Ease Regulatory Requirements for Smaller Issuers and Create a New Resale Exemption" SEC Update
Bill Reid who carefully taught his first Gold Resource investor about OTC start up no resource test mining was a frequent past president of Denver Gold Group. Many of the founders are know to me personally from US Gold and Gold Resource owner meets. Try Elway's Ritzy Steakhouse. MARVEY!
DENVER GOLD GROUP LUNCHEON, 17 AUGUST 2016, RITZ-CARLTON DENVER
PROPERTY DISCLOSURES FOR MINING REGISTRANTS: AN OVERVIEW OF THE SEC’S PROPOSED RULES AND THEIR IMPLICATIONS
https://www.denvergold.org/other-events/modernization-sec-guide-7/
Property Disclosures for Mining Registrants
For the first time in over 30 years, the SEC has proposed new rules for disclosure requirements for mining compa...
Appears same poor deluded EXPERT users did not know gold sales can't be lised as revenue in a development non- resource mine do NOT understand infrastructure is NOT an asset since costs are accounted for as cost of operations never corporate worth. Getting tired of simple explore/develop miner education. Read UP! on own.
"As of end of 2019: TOTAL ASSETS $1,190,072
And yet PT is now claiming the infrastructure is worth $10 million? Did someone gift him $9 million worth of rusty old equipment? Did PT confuse pesos for dollars?"
https://www.911metallurgist.com/accounting-small-mining-operation/
Here's a serious question under SEC Rule 2019 modernization quoted here by SEC Comissioner.
Ask self why in the wide world do a "Bankable Feasibility Study and waste all the time and money when so easy to do as Gold Resource did in 2007 and now Mexus has done since 2011 just locate a mine can be opened to become in profit without the time and money of the study. Both had financing problems to overcome and JVs a difficulty but pressed on to success a decade apart. Cost about equal over $30 mill plant and all infrastructure. Separate eras of rapid rising precious metals are a great assist.
Instead of DISOBEYING SEC mining modernization Act 2019 as message board experts advise , heed the SEC Commissioner and
GO WEST AND MINE IT, YOUNG MAN. .
https://www.sec.gov/corpfin/secg-modernization-property-disclosures-mining-registrants
Recall Argonaut dumping out Dec 3 2015 expressing fear of $7-800 POG?
Argonaut moves slow ahead on Magino
Post by 8thaero » Thu Jun 11, 2020 6:25 pm
"Argonaut Gold Announces Achievement of Pivotal Permitting Milestone with Approval of Schedule 2 Process from Canadian Federal Government."
Wonder if they recall POG bottomed $1053 the day they dumped Elena 80% of the JV Dec 3 '15. Never hit $700 feared and said "In normal times we'd spend the $5 mill to develop open pit". Been Normal Times last 4 1/2 years I do beleive but gonna be WAY abnormal POG UP next few years
"After over 30 years the Securities and Exchanges Commission (SEC) in the United States is replacing Guide 7, which has been used by companies with material mining assets reporting to SEC, with S-K 1300"
https://www.mining-plus.com/post/sk1300
WHAT THE HE double L? SEC is in line with NI 43-10? Message Board EXPERTS say SEC Comission is lying to you with S-K 1300.
DEFUND THE SEC!
Reports on websites? CEO in person presentations to accredited investors, Press Releases? IMPOSSIBLE we are told daily. Some reason when BoD shows to brief accredted investors as Nevada fully requires he's said to not be the BoD capable of doing anything the BoD desires. How odd's that?
"Exploration Results can be disclosed on websites, in Company Presentations and in Press Releases and do not require QP sign-off. Such disclosures are not subject to S-K 1300, but, should include the standard “forward-looking information” cautionary statements and safe-harbor rule, and must include the following cautionary..."
"Guide 7 requires that Mineral Reserves are disclosed in a Study. S-K 1300 allows the disclosure of Mineral Reserves in a PFS or FS level TRS.
This has bought the requirements for mineral reserves more in line with NI 43-101 and other codes aligned to CRIRSCO´s definitions."