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Calling Kitco or any other media venue will do no good at all, unless there is something to report. The PR from yesterday was lacking in details and, therefore, not of much interest to Kitco. Sure, it was news in the sense that they began the pour. But the PR that needs to be brought to the attention of the Kitco's and others out there is the one which actually provides details on how much tonnage was processed and how many ounces poured.
Without those details this stock will continue to trade sideways.
"This stock will be range-bound until we get these details."
Hardly nonsensical. Look at where the stock is today. It is lower than it was when yesterday's PR came out. Reason. Lack of details. It is really quite simple. When we get the full set of details on the pour, the stock will move. Some just like to work with riddles.
11-15 cents stock price is not chartist nonsense, but the simple reality of where this stock has been since the beginning of the year. It speaks for itself. New investors are not going to come on board until they see concrete numbers, total tonnage processed, total ounces obtained and grade.
This stock will be range-bound until we get these details. Shouldn't have to read tea leaves in the PR's.
Absolutely agree, Hawk. Was going to post something similar today. Hopefully the next PR, once all the smelting is completed, will provide the needed details.
Until such time the stock will remain range bound.
After all this time "in the wilderness" (for me it has been almost 5 years) it is certainly exciting to see anything, however small, poured! Looking forward to the full set of details. 1gpt, if it turns out that way for the entire pour, would be an excellent start to this leach operation.
Hate to be the nitpicker here, but where do you get 482 ounces poured from? The PR states 1gr is likely. However, they don't state how many tonnes were processed or how many ounces were poured.
Yes, we can infer about 15,000 tonnes on the leach pad. But why can't MXSG simply state the facts (tonnage and ounces poured), which is what everyone has been waiting for?
The PR did call this a test pour, which is an odd term. Maybe this is just the first pour with the rest remaining to be done before they provide precise numbers for the overall pour?
Congrats anyway. Hopefully, we will get more detailed information soon.
I agree. Gold Resources' strategy was brilliant and it got them a very loyal shareholder base. I invested heavily into them the year prior to production and move to the NASDAQ. The stock was on fire for a huge run up to $30, including payment of $0.06 a month in dividends. Haven't see anything like it before or since. MXSG has the potential to surpass this.
Meant to say "You are correct" not "You are incorrect"!
You are incorrect in that there has not been any official statement to date as to the tonnage on this first leach pad. Given the statements that we have had from management about the overall size of the pad, my guess is around 15,000 tons. I would expect we will get the official number along with the PR announcing the first pour.
As for grades, I assume that will be in the announcement as well. It was encouraging to hear the interim report regarding 1gpt assays. We were informed earlier from sample assays to expect around 0.7gpt. That increase in grade, plus the general tendency for a leach operation to get better results towards the end of the first leach round than at the beginning is all encouraging.
Monday could be an awesome day.
I am all in and not selling any time soon. Let the pours begin!
Agreed. The 1st pour may not be followed by a huge pop. But it will certainly bring us to the attention of many future shareholders who have been waiting in the wings for assurances or simply did not know about us at all.
The key will be how long does it take to get to the 2nd and 3rd and 4th pours and, most importantly, what are the grades.
Looking forward to the news.
First of all, you are dead wrong on that point.
Secondly, given the multitude of PR's issued over the past couple of months detailing the progress on the setup and commencement of leaching, what is it that you know that we all don't know that leads you to state they are not there yet?
Are you saying the issued PR's are a lie?
Highly unlikely we will get a PR tomorrow, so will have to wait for Monday for a possible production announcement.
Added a few more myself today. Just waiting for the news. Not sure of the pop the first pour will get. Will depend on the details of the grades achieved. Am as interested in hearing about when the next pour might be and anything concerning the streamlining of the production process.
Yes, a bit surprised the stock hasn't moved up in anticipation of the 1st pour. Will have to wait and see. I am certainly not going anywhere.
Now just when were you predicting the stock would hit 5 cents?
Wrong. Look at the 12 month chart, because that not only tells the story for the past 12 months but also for the upcoming 12 months as well.
"low return equals loss instead of gain...time will tell.."
Time has already told! Return for the past 12 months is 525%.
And don't forget we were supposed to be down at 5 cents by now. We were told that at least a dozen times now. That insider info guy is certainly not providing very good info!
It will take 2 weeks, 3 weeks max, not 4 weeks. The leach pile is not that high. 3 weeks from the March 13th date is this coming Monday, April 3rd. Perfect time for a PR.
That's my opinion.
Leaching started officially on 3/13. It doesn't take a genius to figure out that we will have a first pour by end of month, between 2-3 weeks after leach start.
Will likely have a PR next Monday on the subject.
"5 cents on the way.."
You are finally correct. 5 cents is indeed on the way. I would just add that it is 5 cents EPS.
Ah, the famous 5-cent prediction is back! Too funny.
"Last time ran to .235 on the expected news of leaching started. Now leaching is started and we are in the .12 range. Makes no sense."
"Once bitten, twice shy" is my take on it. There have been a number of delays past when the company has stated production would be beginning. I believe that this time is for real. However, most longs are staying on the sidelines waiting for definitive news on a first pour.
Once we get news on actual production, this could easily break the 52-week high. How high it goes will depend on the quantity of gold produced and the grade.
"I think money will be made here by a few lucky investors."
Those of us investors who stand to make a great deal of profit, in some instances, life changing profits, are hardly lucky. We are the ones who 5+ years ago saw the potential in this company and bet big. Many of us doubled or tripled down early last year during the darkest days of this company just after Argonaut pulled out from its JV project.
That's not luck. That's investment acumen. You can continue to impugn the credibility and motivations of the CEO and those around him. But we longs will be vindicated in the coming months.
"..this outfit is really a big bunch of losers..."
LOL, this outfit is going to allow me to retire early. I am already well on my way there, given how this stock has moved since the low in February of last year.
"look at the last 3 month chart and then quiet down."
How about you look at the last 12-month chart.
Try reading the last few PR's.
More conspiracy theories?
I am sure they will announce the tonnage in the PR for the first pour.
My guess, and that is all it is, would be 15,000 tons for this 1st pour.
Got that right, DJ. I see a slow rise from here through to news of the 1st pour. Then depending on the quality of the 1st pour grades, we could easily see a 52-week high.
Do you have anything concrete with which to back up your statement? With respect to concrete, do understand that it has been less than a year since the JV with MarMar was announced. Going from zero to production in a year is remarkable in the mining industry.
Can you point to any projects which have been faster?
Yes, indeed. Should close in the green today.
Wouldn't complaint one bit, as long as shareholders get reasonably spaced updates on what is happening on the ground. You don't have to make date-specific predictions to update your shareholder base. You just need to inform them as to what is happening.
I agree that all mining projects will have delays and bump into unexpected circumstances. And the Mexus/MarMar JV has been doing really well with respect to getting the heap leach project nearly ready for production. I am heavily invested and am looking forward to their eventual success in this endeavor.
My main beef is with the lackadaisical nature of the PR's that are put out there. Dates are thrown out way too readily and missed way too readily. When you are in an industry which is known for uncertainty, you shouldn't throw out the certainly of a date when something is going to happen unless you are certain that will, indeed, happen.
I have sat by quite patiently for the past several months reading PR after PR which has projected production startup to be on xxx date. And then xxx date passes and another PR says production will happen on future xxx date. And then future xxx date passes, and so forth and so on.
Mexus needs to stop referencing any dates in their PR's. Just give the shareholders an update and state the facts of what is going on. And only when leaching has truly begun, then announce that it has begun. And only when the first pour has already taken place, then announce it has taken place and what the particulars were.
Wrong.
"Marco Martinez, President of MarMar Holdings stated the leaching solution will be introduced to the heap leach pad as soon as successful completion of the system tests which may be March 3, 2017."
Last week's PR was quite clear that system tests would be completed by March 3.
" The equipment will take several days to test and calibrate at which point the leaching process will begin."
Monday's PR clearly stated continuing tests AFTER WHICH the leaching process will begin.
Not just as promised.
The selloffs yesterday and today are not related to MM manipulation or anything of the sort. From the PR released a week ago on 2/28 ...
"Marco Martinez, President of MarMar Holdings stated the leaching solution will be introduced to the heap leach pad as soon as successful completion of the system tests which may be March 3, 2017."
Most people reading this PR concluded the leaching process was to begin this week or perhaps even over the weekend. That's why the stock price rose last week, in anticipation of the start of the leach process.
Yesterday's PR basically announced a delay of another week before leaching really begins. The short-term traders who entered last week are exiting.
It would be best if the company stopped making promises on dates and just released a PR when the process has really and truly begun and then one more only after a real first pour has occurred. Missing dates, even if they are inconsequential to the long-term success of the company is not a good strategy.
Of course they have to test and calibrate. But the leach process has not officially begun. The PR says exactly so.
"The equipment will take several days to test and calibrate at which point the leaching process will begin."
Just what about that sentence is not clear? The leaching process has not yet begun.