Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I have been a small buyer lately. $0.005 is an attractive price. A ridiculous market cap of $1.4M. Producing gold. Love it! Absolutely worth some lottery money.
Lol that's all very cute. Are you producing gold? Enough said.
And like I said in a previous post, MSXG is becoming interesting again and I picked up some share on the cheap a few weeks ago. I wouldn't recommend that anyone put serious money because it is still a dice game. I just can't resist because they are producing gold and I believe gold is going to go higher. Just a side bet for me -- a day at the track.
Yes probably, along with everyone working at the mine and pulling gold from the ground, etc. They are all paid as consultants and that cost is not trivial. You have absolutely no evidence otherwise, but as always, will cast anything in the most negative light many times a day, every day, year after year.
Wow, years later and still harping on late filings and selling shares to get rich. Here's a blast from the past for you:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151636153
MXSG is becoming interesting again. The market cap is only $1.4M. They are producing and selling gold. Potentially selling a property by early January could help with cash flow. I may take a chance and dive back in with a small position.
Don't disagree but at least it looks like he is learning from his mistakes. He only says this next shipment is .5 tons larger than previous without estimating the gold content. It would be great to see it end up being 100oz. That would start showing some consistency in results.
No mention of those pesky leaky liners or the "any day now" $0.002 stock price? No worries, I got your back.
You're upset the share price didn't go lower? Hmmmmm...confusing.
I thought I was being obvious with my "average down" comment. Do I really need to explain that?
How do you know that PT has not taken on multiple new toxic loans? With no filings for the next several months, when (if) the 10K does come will it surprise you to see half a dozen new toxic loans?
That would suck, wouldn't it!?
Yes it would. Just like maybe when you were insinuating he was selling stock when he wasn't. I guess we'll see, won't we? Stock is holding pretty well considering the massive shares being dumped and toxic debt spiral I keep hearing about. I was hoping to average down but I don't think that is going to happen. Sigh.
Well I don't see that they've gone dark. They will probably continue to have PRs. One could certainly have the opinion that this is lame. I'm withholding judgement myself. As you point out, this is a one-man operation and I can certainly see how Covid-19 has affected things. It certainly has for me. I have a small business and am still awaiting my accountant so I can file.
I think it is prudent for folks to continue to question this company. I am awaiting gold sales in the financials which we may or may not see in the annual report. I don't fully trust PT because he has inaccurately characterized information in the past. I think you are spot on in calling him out for that.
All said though I remain cautiously optimistic with a small position in this company.
Always casting MXSG in the worst possible light:
Nor do they have much gold.......and there is that pesky toxic lending, and the upcoming reverse split.
You absolutely have no idea how much gold they have. Neither do I, but I don't make claims I can't substantiate.
Pesky toxic lending seems in check and the share price has remained stable despite all claims to the contrary. Not sure there is much of a story here anymore, but you are well within your rights to continue to beat a dead horse. Just kind of like 2nd half of last year where you continually insinuated PT was still selling shares when he actually wasn't. Hmmmm.
And today, they announced they can't meet their SEC reporting obligations.
Wrong. MSXG took advantage of the 45 day deadline extension. If they file within the 45 days, they WILL meet their obligations. PERIOD.
Yes and the company survived. The often ballyhooed demise due to toxic debt spiral has not materialized. The "mother of all notes" has been settled. Who knows what the new terms are? Is it now going to be the "grandmother of all notes?" I'm just preparing myself for what the daily barrage will be for the next 6 months. In any case good news and I remain cautiously optimistic.
What is needed to increase production? That would seem to infer bigger or more equipment was needed.
Oh geez, yeah, more chemicals, more blasting, more equipment, more personnel. You think you can just turn a spigot and more gold just automatically pours out?
Also, its extremely difficult to argue Mexus is operating at a profit if it had to take on more debt to continue operations.
The PR doesn't say it is operating at a profit does it? But they must be in a positive cash flow situation to use the revenues to increase production rather than pay debt. Successful companies do this ALL OF THE TIME, use cash to expand rather than pay debt. Business 101.
Positive press release I would say.
Really? I think the stock is bottoming. We may retest .002 again as the last note converts. That will be a buying opportunity.
"No one said there was NO gold. Instead, there is no ECONOMIC gold. And that remains true"
You state there is no economic gold as true. Well do you have proof? If not, it is an opinion and nothing else. Thanks for sharing though.
Oh yeah and plenty of folks have stated MXSG is producing no gold and it is all lies. Time will tell.
If anyone really believes this last note is going to sink the ship, they are probably wrong. They stock has shown to be remarkably resilient in the current range despite several notes converting. And though folks are labeling this one the "mother of all notes" or whatever, it's not that much more really. The only thing that'll sink this ship is if they aren't producing 100+ oz of gold a month. And we all have to wait and see on that.
I thought everyone knew that book value and street value many times have different values, and sometimes wildly different values. If MXSG is producing 100+ oz gold per month you can bet value is well north of $1M. So it really comes down to whether or not they are doing that. And you don't know, nor do I.
So call PT out all you want for sloppy PRs, and poor use of averages which I agree with, but come on, figure out your basic accounting.
Completely agree T-Hawk. If they are self-funding is what matters. The stock price may take a hit as remaining notes convert. It has weathered that storm recently without tanking despite claims that it would. I remain cautiously optimistic.
And can we stop talking about the birthday party/BOD meeting? Or Marmar? I notice that we barely hear mention of PT's late filing anymore but I'm sure that will be dredged up again eventually when some additional grist is needed.
That's really all just opinion. No doubt folks have lost money though. That's also the nature of the beast. MXSG is a gamble for sure, though less of one these days (in my opinion).
Sunk costs. Pretty normal for startups. Not sure why folks are making such a big deal out of it. Since the costs are sunk, it is fairly irrelevant to the ongoing concern of the business.
MXSG -- "The little hobby miner that could!"
In production and 8K filed
No huge dumping of shares despite certainty of toxic death spiral
PT not selling despite claims he was
No back taxes in sight
Low costs of operations
Self-funding of operations
No doubt it has been a very long and bumpy road but keep it coming boys!
How much of that $30M is from equity financing? It is not the same as debt. Again actual debt is around $2M last I checked.
Way to rational and well thought out for this board TMLonggun. (thanks)
Just to be clear, there is not $30 million in debt -- more like $2 million. The important debt are the notes due this month. We'll see how this is handled. But to be sure, if MXSG can consistently squeeze out 50-100 oz/week in the near future, debt is not going to be a problem.
Corporate taxes on what? You have to make money to pay taxes. $30 million doesn't need to be paid back, only the $2-3 million in debt. $2.5 million a year is a good start -- IF they can get there. A big if though. Maybe one of the insiders can explain why no gold sales in 10Q when the PR was pretty clear about it. No "Marmar sold it" excuses this time.
A 1 week delay on leaching is not a big deal. Though 100 oz from 9000 tons works out to roughly .35g/t. This is lower than the .5g/t from the previous press release. So this is not great but maybe due to inefficiency of process? The clock is ticking now with all the build-up with the larger MC, and leaching commencing. This is not vague. And while not show-stopping, if the company can produce and sell 100 ozs in the next month, that would be positive.
Agreed. But if no gold sales are reported does it prove or disprove anything?
Also, what amount of sales would be considered satisfactory?
The previous time there was the MarMar excuse so they have plausible deniability. They announced they sold on September 12th so no plausible reasons to not show it. Assuming MXSG was producing 3 oz/day for some part of the month, I would expect to see anywhere from 10-50 oz worth of sales reported but probably the lower end.
MCs don't operation at 100% efficiency, but I wouldn't take this to mean it is operating at 40% either. I think it is just a conservative number for estimating the operating costs. If they can consistently recover .5g/t they can produce gold at $437/oz. Higher recovery rates will lower costs.
We sure are spending a lot of time on this. Have you alerted the SEC yet? I'm sure they will drop everything because obviously the great news PT supposedly shared that was insider information gave everyone there a chance to buy a ton of shares before the stock price went to the moon!!! Oh wait, the stock has been steadily declining since that meeting. Well then, it was obviously a pump and dump scheme.
This is a non-issue.
As long as PT keeps selling, new bottoms are possible. How many shares will he sell today (and not disclose for weeks)??
This pure speculation. You keep going back to PT's selling patterns in 16/17 to bolster your speculation, but you won't use the sales from 18/19. Of course not, they don't support your pure speculation.
Until there is some actual evidence of continued stock sales in the form of an official SEC form 4, you are merely speculating despite whatever you call it.
We know PT has sold $16K worth of stock in 2019. That's all we know. Period.
I would liken this to anyone saying how much gold PT has sold. You would agree I assume that any figure posted on this board is meaningless until we see something in a 10Q correct? I would apply that same approach to stock sales.
It's curious why from time to time he doesn't take a salary in lieu of shares.
Just guessing him not wanting to tie up cash. Mexus needs every loose nickel it can get its hands on to carry on operations.
Press release says "450 M^3 tons of solution assaying 1ppm gold per ton"
M^3 is cubic meters. 1 M^3 water is a metric ton
1ppm gold per ton = 1 gram / ton
So basically 450 grams at 31.1 grams / oz = 14.47 oz gold.
Or basically what gitreal said. This is not very impressive. Not sure where 8thero came up with 450 million tons unless I'm extremely confused with the units used.
1) it is very likely that PT's share sales have continued, and are on-going
This is supposition. Based on what? The form 4 covering the stock sale this year (from 9/17-9/26) was filed on 10/8. Are you saying that it is likely that PT sold shared from 9/27 to 10/8 and didn't disclose them on that form? This would not follow his pattern which is to sell over days and report all sales late on 1 form. Or are you saying it is likely that he has sold a bunch of shares in the last 2 days? If so again based on what?
Would it be better if PT consistently filed on time? Yes.
I'm with you. He just needs 1 more fake PR and he can dump another $8K in stock and his get rich plans will have come to fruition. I'm just not sure why he hasn't been doing this every month!!! Now that would be something to talk about. But PT is obviously not the sharpest tool in the shed.
And it is at the very least hubris, but probably worse. Certainly couldn't be anything like being very busy getting larger MC down to Mexico and drives back and forth because that is all fake news obviously.
It is only a matter of time before the SEC pounces I suspect. I'm sure they have their A team quietly building a strong case against PT.
PT has sold 1,225,289 shares in 2019 for a whopping $16,173, and filed late!!! Please call the SEC immediately!! They obviously don't know he is filing late to their own website lol. He is a pump and dumper obviously, duping shareholders this way for $16K in 2019. He is getting rich!!!
And then he lied about 8.2 oz of gold. Oh wait, Marmar sold this? Well he was still entitled to 10%. OMG he must be lying about the $1000 he was entitled to. Another way he is getting RICH. Please call the SEC. PT MUST be stopped!!!!!!!!!!!!!!
I am a long term investor in Mexus. I have been accumulating shares the past few months after sitting on the sidelines for years. I believe the PRs, and I just think PT is overly optimistic, not dishonest. And this is a far cry from where this company was 1,2,3... years ago.
I'm not the Mexus to the moon type though. If the larger MC gets them to 30oz/day, I expect a modest (few cents) bump in the stock price. Why? It is a high market cap for the revenue especially with still too many unknowns (cost per oz, measured reserves, etc). But it does give MSXG much needed capital to pay debt and explore and expand. It is all still a bit of a crap shoot however at this point, but I think it is a reasonable bet at near .01.
I don't post a lot but when someone uses a made up reality TV show to contrast to Mexus I just have to laugh. Gold Rush is far from reality and it is comparing apples to oranges really.
TML -- Thanks for the interesting post. Can you explain why you make the statement below? It seems you are inferring this but I didn't come to the same conclusion:
The only thing about that last Mexus PR that disturbed me was implied 0.2% recovery rate. That is basically zero.
Thanks for re-posting that press release. Looking at the long-term gold charts Argonaut got out at almost the exact low point in the 4 year decline. There was a lot of doom and gloom on the outlook for gold. Bad luck for them but it explains a lot.
Yes, there is. Mexus is not a Canadian issuer and thus is prohibited from filing such a report.
Actually a foreign issuer can file on SEDAR as described in the link below. The bottom line is there are many ways in the future PT can legally file an NI 43-101 including following the guidelines for a foreign issuer or actually dual issuing as some companies have done. And I'll repeat because I think my previous post was deleted, to claim that PT is engaged in fraudulent behavior or ignorant based on the NI 43-101 statement in the latest press release is actually the biggest piece of misinformation on the board over the last few days.
https://lautorite.qc.ca/fileadmin/lautorite/reglementation/valeurs-mobilieres/13-101/2016-05-24/2016mai24-13-101-vofficielle-en.pdf
It's also easily resolved by actually filing. Nothing to stop PT from preparing and filing an NI 43-101 with the Canadian authorities. Enough said I think.