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“So come on, let’s go!” Jeff Williams
almost everything that we're focused on now in terms of forward activity has some form of positive cash flow returning to the company associated with it. Corrado De Gasperis
No Git, I am not talking about mexus and their procedures. I was responding to a point that T-Hawk kept hammering on. Now the story is now changing to, if someone else digs up the gold nuggets then a mineral reserve isn't needed to claim revenue from gold, but if Mexus mines it all by itself, then an established mineral reserve is needed to claim revenue? He brought it up against 8 enough that I decided to research it and found that paper. It cited the rule for reporting when there is no established mineral reserve. Gold cannot be reported as 8 said.
The paper summarized the rules as of November 2000
Here is a paper from Deloitte, Touche, Tohmatsu Summarizing, for their own clients, the SEC rules:
The U.S. SEC does not permit the disclosure of other than
proven and probable reserve quantities on a unit of sale
basis, such as ounces for gold, in filings with the commission.
(2) The SEC will, however, permit the disclosure of measured
and indicated mineral quantities on a non-unit of sale basis,
such as tonnes and grade of material in the ground for
gold. The U.S.-based companies that we reviewed did not
provide disclosure of resources not classified as reserves
The link did not work try searching for https://www.iasplus.com/en/binary/dttpubs/0310deloittemining.pdf
Look on page 7 of 89 lower right paragraph.
If I read this correctly a miner who has not established Proven and Probable reserves may not report gold oz sold.
Good points, thanks.
Thanks Rock,
You're confused because my post was confusing.
I was listening to the conference while typing. I think the word "dayton' was spoken as I typed and I typed Dayton instead of Daney. The ranch is being leased to a drill company CEO and there have been side discussions about the possibility of his company working on the Dayton for a discount.
Writing Dayton was a mistake and I didn't catch it before posting.
MCU is looking as good as I had hoped.
Conference call, we have liquidity and are retiring our debt. Leasing Dayton for 9K a month for up to 2 years to a drilling company, with option to buy. And a discount if we use their services down the line.
Got some for under $1.10
without merit?
Bravo gold went through some acquisitions and is now owned by Auryn Resources trading as AUG on the NYSE.
VG Gold corp deposits have been acquired by White Gold Corp WGO
A little slower look would have given more indications. For instance Alexandria Minerals was bought out by O3 mining. So they are not trading anymore under the original name.
Bravo Gold corp is listed as BVG or BVG.V on the TSX and not on one of the big boards.
Colt resources is showing as an exploration stage company that doesn't seem to be trading.
U.S. Gold Corp is trading on the NASDAQ as USAU
VG Gold Corp Ticker is VGGCF and is apparently not trading.
Progress?
shareholders SHOULD be very concerned about the oversized amounts of money going to PT and consulting/management fees
But they have all these non-shareholders expending the time and energy worrying about these sorts of things on their behalf.
The only thing worse than make work is duplicate work.
Share holders have these folks voluntarily doing the worrying for them. Why should they duplicate the work?
Let's say that someone bought shares directly from Mexus we can call him Jim. So the money that the company received from Jim had been his money once upon a time, but he gave it up in exchange for shares.
Then Jim sells his shares to Alvin. Does Jim take the proceeds for himself or does he have to put it into the company treasury? He takes what was once Alvin's money and puts it in his wallet. None of the money goes to Mexus and PT is not touching the money that came from Alvin. Now let's say that I got my shares from Alvin. There is no technically I am correct regarding what happened to my money/ It became Alvin's. PT has no say in the matter.
Now Alvin had a share in the company, that had once belonged to Jim, and that share is now mine and that share is in the entire company, the company treasury, the equipment and structures, the land and everything that the company is able to claim. But that share does not mean that I can claim title to one of the vehicles, or the mill, or the pad, or the money in the treasury. They belong to the company and the treasury is what PT taps into to write the checks. He isn't spending my money, he is spending company money.
So technically you could say that PT is spending my money but it is not a fair way to express what is happening.
I have shares in a number of companies and the CEOs authorize expenditures, I do not consider them to be spending MY money. That is not how it works.
My shares mean that I am entitled to a share (hence the word shares) of any proceeds from sales of company property after expenses. Hopefully the company property being sold is gold mined at a profit.
PT is not using "your" money? And you have no right to know or care how PT uses that money anyway?
Since the statement about me having no right to know or care how PT uses that money is a misstatement about my position, I don't know how I should respond or even if it is worth bothering.
First, PT never received any money from me, not one penny. The fact that you keep spinning it that way doesn't speak well for your understanding.
Second, to imply that I have taken the position that I have no right to know or care how PT uses company money is to falsify my post in order to advance your spin. Of course, I care since I have become a part owner in the company by acquiring stock. I have partnered with PT and the other share holders and am intensely interested in the work that is ongoing. So far, I like much of what I am seeing.
So far, you appear to dislike everything about Mexus and PT. And seem to want to relentlessly push your point. I think my first interaction with you was about whether there was gold in sufficient quantities to be mined at a profit. You did not and still don't believe that there is and that is fine with me. But PT and most of us who actually invest in Mexus do believe that there is gold to be mined profitably.
PT is demonstrating his confidence by the work that he has done, the equipment that he has put into service and the facilities that he has built. All this at an age when most folk would be retired. The man is working hard and has built an operating mine. And this in the face of setbacks that would have stopped a lesser man. Where others see insurmountable obstacles he sees challenges to be overcome, and then he overcomes them.
As long as PT doesn't give up I won't either. I've got the easy part, sitting on my duff and making posts on a message board while he is hard at work trying to make my shares more valuable.
Well said.
I am anticipating another check mark on the box for Close on Sale 98-160 Eliminates Debt
Maybe an announcement about releasing the multiple SK1300 reports from the Dayton.
And am hoping to learn more about the progress of Tonogold exploration as well as a progress report for the MCU projects.
First, PT is not spending my money Unless I just happened to be purchasing at the same time that he was selling shares. When I purchased those shares that money became some other persons money and they used it any way they chose. Maybe shares in some other stock, a new car, maybe a new Iphone, might be that baby needed a new pair of shoes. One thing is for certain, it is not any of my business what they spent it on. It is no longer my money and the shares they once had are no longer their shares, they are mine.
Whoever sold the shares to me did so through their broker and we never had any kind of communication what-so-ever. There was no deception or lies that I am aware of from that person, or even persons, if I got shares from more than one person.
This is so basic that I cannot understand the mindset of someone spinning it as if PT were taking custody of my money and frittering it away. Even those folks like 8 who bought in very early would not claim that PT was spending their money. They made an exchange, shares for cash. That cash was no longer theirs it was the company's and PT could spend as he deemed necessary. If they believed that he spent on something other than developing the company then they have recourse through the courts. So far they have been very patient, they are not anywhere near as upset about things as you seem to be. Sue Ellen, PT and I may interact at some point in the future but we sure haven't exchanged points of view to this date. If he has lied and deceived me in those PR's it is as much on me as it is on him.
Anyone who bought in at. . .
Anyone who bought in to a penny stock play, like Mexus, hoping to at least "break even' should not be investing in a penny stock. a player who hopes to break even or even make a little should be playing on a board listed stock. They are not cut out for the trials and tribulations of the penny stock world.
A penny stock play is for people who are willing to risk it all in the hopes of hitting a really big winner. The time to count their money is when they cash out. They've got to be prepared to cash out and walk away if they become convinced that the company is a loser or if they think they've found a better play.
Since I have invested in Mexus, I have watched it build and make progress, had disappointments along the way, but watched it continue to progress toward the goal of making money by processing and selling gold.
PT has an improvise, adapt and overcome approach and I'm pleased with that approach.
I still believe that I have found a winner and am still backing Mexus.
No cashing out here.
News flash...the old problem ISN’T relevant to most of the other shareholders NOW!
True dat!
Some recent developments have been really discouraging because I had greater expectations than were delivered. I hadn't yet learned to factor in PT's poor gift for communicating and I really hadn't factored his pronounced sense of optimism. I should have, most startup gold miners are exceptionally optimistic, it is basically a requirement. So now I know to factor in the poor communication and degree of optimism going forward.
What I don't give a rip about is past missteps, it truly isn't relevant.
“The Moving Finger writes; and, having writ, Moves on: nor all thy Piety nor Wit Shall lure it back to cancel half a Line, Nor all thy Tears wash out a Word of it.”
The past is gone and done and it's impact is only on those investors who were so disappointed that they dropped out taking a loss or stayed in but wrote the investment off.
Quick survey: Any currently active investors worried about past missteps up to and including MarMar?
Okay, Sue Ellen, let's not contaminate a cyanide heap leach with cyanide contaminated material. It would be much better to dump it in some gully. Sheesh!
Ya, I thought it was from SA at first.
Am I overlooking something?
The new pad?
Perfect place to put the cyanide contaminated remainders from the ball mill along with the removed top of the old heap.
Daff,
I agree with the points you made concerning the article. But let me point out that this is not a Seeking Alpha article that was written by SA.
SA allows people to post blogs and this is an instablog blogpost addressed to HYMCZ Warrant holders then copied and pasted on a number of ihub message board sites.
It is not a Seeking Alpha article any more than it is an ihub article.
Wow! Any criminal consequences?
Expected a more than 2% reduction in fertilizer sales due to C-19. So that's good.
Right on Dino
It's trrelevant, however, since Mexus hasn't violated any regulations by temporarily plugging a freshwater leak.
It is also irrelevant because Mexico is an independent and sovereign country. They allow a US federal agency the DEA to operate under the auspices of their national law enforcement but they sure won't allow every US agency to try and run things in their country. EPA. OSHA, IRS, SEC, Weights and measures, BIA, Bureau of prisons maybe American citizens can make reports about something going on in any country and the agency will snap to and take action.
Pedro, Ya think that is how things work in the real world? Think your report is going to get OSHA moving?
OSHA is operating in Mexico??
The Frito bag appears to be working since the slurry is dried. Pretty good adapting and overcoming of a problem. Get that baby working and it will pay for its own repairs as needed. For now it is a solution to a minor problem.
Good hearing from you, answered on PM
better and better
Unless the weight serves as a counterbalance.
That's your position and you've made it clear.
My position is that MXSG is about to become a gold miner. I am backing my position by investing. I'm prepared to lose it all but don't expect to.
This point is that new or newish investors are taking positions in MXSG. New blood indicates that some people think it is worth the risk.
...those years were for watching...
From yours and my persepctive; this is true
...now may be the time to invest...
Again for you and me this is true.
But I've got to say that if it weren't for the investors who got Mexus to this point, we wouldn't have this opportunity. I am grateful for the chance they took and can emphasize with their many troubles and travails during the past eleven years. It is no wonder that some got discouraged and resentful. But the majority are still standing together and showing confidence in the future.
That is impressive.
May they be richly rewarded for their persistence.
MXSGD? Ma Xing Shi Gan Decoction
Does this require a new ihub board?
Might be PT is a hobby pharmacologist?
Have to keep things moving.
You're right about that. . . Here I am sitting in the catbird seat and blurting out criticisms without considering how I would react if they had chosen to increase debt with another loan or by further diluting LODE stocks.
Here they utilized a source of ready cash and I am reacting with "that doesn't sound good." They've got plenty of TNGL and if they sell some it won't hurt their position much but the cash will let them develop their own projects which are very big deals.
Extremely curious to hear the results of the aerial geomagnetic survey. I expect that they will be pleasing.
News from the Tonogold drilling program are looking good as well.
The Company has also realized approximately $1.386 million in cash proceeds from the sale of 3,587,833 common shares at an average price of approximately $0.40 per share
That doesn't sound good. Thoughts?
Here are the slides of the presentation:
8K
I hate seeing innocent investors getting ripped off!!!
That is a nice sentiment but we "innocent investors" are not really innocent.
Caveat Emptor applies, if this turns out to be a bust; I will have no one to blame but myself.
Still hanging in there.