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Glad to see you've turned optimistic.
Dino
Aren't you tired of telling us that the sky is falling?
Dino
I love fritters. Specially apple.
Dino
Maybe because spot gold dropped more than $11/oz? Now that Mexus is producing and selling gold, it matters.
Dino
Any idea why?
Dino
Please note the link Belgie provided. It takes you to EDGAR, the official SEC online site for all filings.
That boilerplate you cited is placed there at SEC direction to protect the SEC, not the company. 8-Ks are for information purposes only. They don't have to meet Dodd-Frank requirements.
Dino
Mexus confirms sale of gold from production at its Santa Elena mine
https://www.globenewswire.com/news-release/2020/03/09/1996845/0/en/Mexus-confirms-sale-of-gold-from-production-at-its-Santa-Elena-mine.html
To paraphrase Bogey, this is the start of a beautiful (and profitable) relation.
Dino
Pedro, I think you once said that you purchased restricted stock. If so, you should check into the terms of the JOBS act. Your minimum 5 year holding period may be up and you may be able to avoid paying any tax on your long-term gains next year.
Dino
Yup. I think so.
Dino
I just called PT to congratulate him on his success. He's very happy with the electrowinning process. The whole system is running smoothly. Should be frequent, probably weekly, gold sales from now on.
To paraphrase 8, "I'm pleased."
Dino
Last I heard, lawyers do not work for free. The method we use in the US - contingency payment from the award - is not popular anywhere else in the world. So, when Mexus has paid off those loans you keep talking about, that's when they'll pursue recovery from MarMar.
Dino
There's a fly in your ointment, however. The company has a CPA, attorney, and auditors to make sure PT files what and when everything is required, and attest to its accuracy.
Dino
Close? Yup, just substitute "lots of" for "no".
As for being "mystified", they probably don't understand the inner workings of the diesel generators either, but that doesn't stop them from using the electricity.
Dino
Heart issues? Only if you consider from bursting with pride.
Dino
PRs are filed with the SEC, so they are official.
Dino
No! We can't. Mexus is a publicly traded, fully reporting company, currently producing gold and silver at their mine site near Caborca, Mexico.
Dino
I think the tests are every hour. Maybe even half-hour intervals. Seems like every time I looked over, someone was running a sample.
Dino
The leach process has no real time frame. It runs continuously for YEARS. They're running the Merrill-Crowe system periodically (daily, I think) to remove the precious metals from the pregnant solution. After a few hours of operation, the pressure builds up in the press and it's time to stop the flow, scrape the filters, and resume the flow.
The "scrapings" are processed whenever they want to. They can collect them for a while and process them daily, weekly, monthly, if they feel like it. They've announced - even shown us pictures - of gold produced since restarting the leach. I expect to read amounts sold in the financials at the appropriate time. I also expect to read estimates for annual production when enough data has been collected. That's the way mining companies do things.
Dino
That tells me to expect a PR on Monday morning before the market opens if there was anything really new. Telling someone Sunday afternoon does no harm. Can't act until market opens. No pre-market available.
Besides, a little better than 2 weeks at 6 oz/day is 30-40 oz. Already announced.
Dino
The guys at Gold Resources must be really upset about all those base metals and silver bringing the cost of production down in the $80/ounce range.
Dino
Gee, think about those companies that "waste" all that cyanide producing only silver...at a profit.
Dino
Shhh. No one is supposed to know about the pixie dust.
Dino
It looks to me like the addition of the activated carbon filter (I think that's the proper term) has greatly improved the processing. Maybe some tweaks to the chemistry as well. I doubt that the leach has been constant prior to a couple of weeks ago. If so, there would have been some gold recovered. My guess? They've been running samples, refining the process, etc., so it isn't 22 in x months, but more likely after 2 weeks of the new leach/processing technique.
In the not-to-distant future I expect to see much higher gold per day numbers as Mexus increases flow rates, adds additional filter packs, lifts more of the higher grade ore on the pad, etc.
Dino
Last I heard, the column tests indicated about three times the amount of silver as gold. Since the cyanide is going to capture it whether we like it or not, we can sell it also. If we created 22 oz of gold, we probably also got 66 ounces of silver or, as they like to report it, a little more than 1/2 ounce of gold equivalent.
66 * $18 = another $1100 - $1200. I think that's worth selling.
Dino
I noticed the PR said GOLD, not dore. Wonder how much silver was produced as well.
Dino
Two of us rented a car (advisable for insurance purposes) and drove from Phoenix. It was about 2 hours to the border and 4 hours to Caborca. We rode with Paul, Cesar or Manny to visit the mine.
Better call first to make sure that Paul will be there to show you around. He spends some of his time in the US - driving back and forth by himself.
Security? I thought the most dangerous part of the trip was the way trucks drive on the Mexican highways. They are wide, two-lanes, with wide, paved shoulders. When one truck wants to pass another, north and southbound vehicles move half-way onto the shoulders and the passing vehicle straddles the (imaginary, in some cases) center line.
It's scary the first time or two, but it does work and you get used to it.
Dino
Try viewing it as sarcasm.
Dino
'Bout the size of it. Mostly personal matters. You know, family, friends, belated "Happy Holidays".
I just wanted to confirm that the reports from "49" were incorrect.
Dino
I didn't ask and he didn't volunteer, since it wold be illegal for him to tell me. I'll find out when you do.
Dino
As of about 45 minutes ago, Paul was just leaving the mine - under his own power - to go to dinner. He's been working, as usual, since he returned to Mexico on the 4th.
"Walked off the site"? No way. Absolutely NOT!
Dino
I can play that game, too.
Paul Thompson will leave the mine site tonight!
Of course he left last night also - and will do it again tomorrow. As I recall, the motel where he stays is almost a half-hour from the mine site. I'm sure he'll be back in the morning. That's his usual M.O.
Dino
Oh, you mean he came home to celebrate Christmas with his family? How terrible!
I'm sure he didn't walk, though. It's waay too far.
Dino
I think it will be.
Dino
Yeah. I just ignored that "paste" stuff.
Dino
That's a GREAT chart!
Thanks, Anvil
Dino
Once placed on the pad,the ore stays forever. They're smelting the ore, but not refining. See post 34154
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152642918 for a good description.
Dino
I misunderstood the question. I thought he meant the pot catching the gold. It was red hot but the gold was yellow. The center, directly under the pour, is paler, but the edges where the pot has cooled it a bit are definitely golden yellow.
Dino
Would you care to explain why you think there will be a delay? While they're smelting the first "batch", the MC is collecting the next one. As I recall, that's usually 10 to 14 days. The process keeps repeating. By alternating between two filter presses, the filtering is continuous.
Dino
Most Americans wouldn't buy Thai gold. Not dark enough. Unless it's made for export, all the stuff I saw was 22 or 24 caret. Jewelry made for the US market was marked 5/8 or about 14 - 15 carats. Now that's gold.
Dino
Thanks. Now that they're right side up, I noticed that there's a second pot off to the left side. I hope they filled both of them.
Dino