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C’mon Git, less than 2 million shares a day volume. That’s less than 1/4 of 1% of shares outstanding. Panic selling, really? If some bad news about the drills had leaked out wouldn’t you think there would be some healthy sell volume, and not the anemic volume numbers of the last few weeks? Sorry, not buying it.
"I wonder who is selling these past few weeks and driven the share price down to 2 year lows??"
Volume has been consistently under 2 million shares a day during this period, on 850 million outstanding. Naked shorting level has been often over 50% of share volume.
Are you sure its the longs that have been driving the share price down Git???
Yes, looks like PT must have bought back those shares he was supposed to have dumped yesterday
Yes, lets not mention Shorty, seems to keep a lot of people here up late at night .
Lots of naked shorting lately on MXSG, over 80% of total share volume every day for the last week.
https://otcshortreport.com/company/MXSG ... zMSdGi0G0s
Iceman,
I remember last year the Fed said there were three rates hikes possible for 2016. With that statement I was wondering what kind of drugs they were taking at FOMC meetings and where I could get them. Rates are going to stay low for a while because we are still bleeding high paying jobs in the country by outsourcing, with companies using H1B visa to move these jobs overseas to much lower paid workers. The new jobs being created here have lower to much lower salary levels than the ones we lost. Labor Participation rates are at a 40 year low (see below). Inflation will not be a factor in the foreseeable future and rates will stay low, which is why gold/silver and the miners will be the best investment for at least the next few years. Have waited a long time for serious production, will be great if we can get it at +$1400 an ounce gold.
http://data.bls.gov/timeseries/LNS11300000
Kansas,
Also look out for the Chinese move with the Yuan based gold price fix coming in April. This could keep gold on an upward trajectory and stick a dagger in the heart of the Crimex:
http://anonhq.com/game-changer-china-set-start-yuan-based-gold-price-fix-april-2016/
Also keep an eye on the news about the Yuan-denominated gold price fix that is scheduled to start on April 19th. Could be a game changer especially if they get enough banks outside China involved, which is what the Chinese are pushing for:
http://anonhq.com/game-changer-china-set-start-yuan-based-gold-price-fix-april-2016/
Thanks for the update Eight, much appreciated!
Hi Eight,
If no new partnership arises from any new negotiations, will we be able to revert to where we were back in August with preparations to go it alone? I know Paul has wanted to get at Julio 2 for a while.Not sure what we look like now at the Rancho after Argo stepped in. I'm sure funding will be an issue, curious if Paul has expressed any opinions on this. Thanks and hope you and Dorly are doing well.
Selling has petered out but looks like someone is trying hard to keep us under .02. High percentage of shorting vs actual volume the last three days:
http://otcshortreport.com/index.php?index=mxsg.ob&action=view#.VirvZGi0G0t
Will be difficult to keep this up for long with continued higher volume, I'm sure we'll break back over .02 pretty soon.
Good point Eight. It has been a long wait for gold and gold mining stocks to achieve their true value for all of us. It does look like we are starting to get solid support in the mining stocks, gold/silver are still undervalued but should follow soon IMHO. Have been off the board awhile but have been picking up news on Mexus from time to time. Looking for some news this quarter re actual production timeline, hoping Argo is as anxious to get things rolling here as we are. Hope Dorly is recovering well.
Thanks TM, excellent article. Its not just my experience on this board that has formed my opinion about relatively aggressive shorts here but what I have seen with a lot of other gold/silver mining stocks. Aggressive shorting often followed by baseless negative attacks on the company, coordinated with a proliferation of negative posts by bashers on the stock bulletin boards. Sometimes we even see nuisance lawsuits filed following strong shorting of a stock. I remember Gold Resources Corp having a lot of problems with shorts employing all these tactics against them in the last few years. If I just saw it on a few boards I would write it off as coincidence but it seems to be epidemic with gold/silver mining equities, especially when the values were being driven down in the last few years. I recognized a lot of tactics from the article used in the day to day for mining stocks, quote and spread fixing, stringing 100 share sales, etc. Not sure why you are still seeing above average shorting volume on a 2 cent stock on those occasions when the trading volume is above average, its happening on other low SP junior miners too. Not much opportunity for profit for MM's on these trades so why? If I were a wild eyed conspiracy theorist I would think that there is an effort to make the sector unattractive for buyers and it is working. Question is who and why?
Yes, another +1 million share days. Shorts having trouble keeping share price under .025 they had to short about 600K shares to keep it this low.
http://otcshortreport.com/index.php?index=mxsg.ob&action=view#.VUQ-oWi0G0t
Belgie, you have the sleuthing bug and you can't shake it . No problem with me Belgie, although the miscreants at Raging Bull will no doubt be accusing you of trying to pump the stock up with misleading information so you can unload your shares. BTW congrats on the new grand baby. Hope you had a nice trip to Denver one of my favorite cities.
"and pretty much all the mining stocks"
Exactly Kansas, its not like we are the only mining stock that the Banksters are playing games with. So I don't believe that all the mining shareholders who are complaining about this are imagining things. Anyone who denies this is happening is either naive or an errand boy for the manipulators. Of course talk is cheap, whether you are a long or a short here. According to PT the placer is up and producing gold, how much will be known in a few months time so that's my measuring stick for progress here. The day the blasting permit comes in will start our move to a new level of production.
Sounds good Eight. Extra crispy for me. Don't go for nuggets.....unless they are the ones coming out of the mine .
Hi Kansas,
I'm also hoping when the JV details are settled Paul can provide some placer updates. I just think he's too busy now with getting a PR set up and dealing with the Tucson partners to do this and the place restart is pretty recent. Might be a good question for you to submit to the CEO Q & A or to Paul Dent directly.
Rickybobby,
Yes, another good volume day. 780K shares traded and still 2 1/2 hours of trading left.
Yup. Just waiting for the PR. I know Paul doesn't have a good track record on getting these things out in the time frame he mentions but we should keep in mind that he doesn't always have total control of when he can release it and what he can disclose. He may have to wait for the partner to give him the go ahead on the release date, as JV companies might prefer to coordinate their release dates on an announcement like this.
Many people don't realize that we are still a very small junior, especially in the front office and Paul is towing most of the load for now. That will change but for now it is a burden for him, especially with having to shuttle back and forth in a car. Glad he is getting his plane back. I don't see it as a luxury, its more of a necessity for him considering how much he has to travel lately between the Rancho, the home office and business meetings.
Looks like the shorts are finally laying off Mexus, no shorts again yesterday and very little shorting volume since Jan 14. Looks like they don't want to get burned if a JV announcement cause a big increase in SP.
http://otcshortreport.com/index.php?index=mxsg.ob&action=view#.VME382i0G0t
Hi Aqua,
Fortunately there shouldn't be much to discuss going forward from the RB board. It is a dying board and the bashers only make the occasional post there and disappear for a while when no one responds. Very happy to stay on topic here discussing Mexus business.
rickybobby,
Interesting spike in volume, would like to see if that continues tomorrow. Frequently something that precedes an announcement, assuming that we don't get a PR sooner.
Eight, just as well that he doesn't have the money for a small car now. Someone that stupid probably shouldn't be trusted behind the wheel anyway .
Mostly buy action with above average volume and a slight decrease in price? MM's could be accumulating shares and increasing short position at the same time so as not to attract attention with a large SP spike. Will check out short interest at end of day, could be at least 50% of days volume or higher.
http://otcshortreport.com/index.php?index=mxsg.ob&action=view#.VL_njGi0G0t
Should be interesting to see what the delay is in the announcement, still ironing out last minute details with a potential Tucson partner or a last minute bid by someone else? With the price of gold at higher levels we become more valuable with every increase, and current economic events are trending toward gold accumulation and against fiat currency.
Eight, I don't believe someone liquidated a small cars worth of shares. Was it a whopper told by one of the bashers? Volume has been very low lately, don't think we did a million shares combined in the last week and share price hasn't moved much either way. So that likely was some basher selling his imaginary shares. I'm sure he claims he'll be moving on now and another new 'disgruntled shareholder' will appear on the basher board soon.
Also more weakness in equities today. When the market does turn down larger where do you think the money is going to go? I haven't seen both bonds and stocks both so overvalued at the same time ever. I'm not sure if you are going to get as big a rush to bonds as you have in the past when the market drops. Gold and gold equities will be bought big time, no doubt. Both doing pretty well lately, waiting for our turn to come for Mexus.
I'm sure Paul will make the math look good after he breaks his silence.
Eight,
Also be interesting to see if we get the big partner, will they also be looking to mine the Rancho as largely an open pit operation as Paul mentioned. It would make sense as many of the veins are pretty shallow.
I had some alerts out there for any price spikes on some of my mining holdings. I was absolutely sure that Mexus would be the next one to hit, but was wrong. Aurcana was the winner, up 225% today. Don't have a lot of it but it was a nice surprise, looks like they may have turned the corner. Recommended it to Kansas when it was much higher and it dropped like a rock, so I'm sure he still is po'ed at me . Kansas, hope you held on to a few shares.
Agreed, very thoughtful and accurate post. Buying junior miners is not for everyone, need lots of patience and understand the risks. That why the junior mining boards are a favorite for bashers, they take advantage of the frustration and ignorance of the investors there and paint management as incompetent, disinterested and crooked when their mines are not immediately into production.
Agreed, SP will move once we get the news that we are in production. Having a more regular PR flow will get us some more attention. Will make all the difference in the world to have a company officially in production, and if we are still in the .06-.08 range then there will be some serious buying here.
I think the PR's are look better because they hired a new guy for the position (Paul Dent). Hopefully it will be less of a one man show going forward, and Paul Thompson can focus on the really important matters (like production!). Hard to promise certain events by a particular date, especially if lawyers are involved . I'm just glad that actual production is on the horizon and we will hopefully be making money by the 3rd quarter.
TM,
I like Rapier40 as a handle, I had Rapier40 on Raging Bull for a while but lost my user name when RB crashed for two weeks a few years back and found I couldn't log back in under that ID and had to get a new one (Rapier50). RB does have its issues from time to time.
Mexus Gold US Nears Agreement to Mine Santa Elena/Julio Project
http://finance.yahoo.com/news/mexus-gold-us-nears-agreement-103000322.html
Good news, more details likely in about two weeks.