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I think that was a typo, or something. When I divide $97500 by 1,875,000, I get $0.052.
Dino
Come on, now, Gitreal. Like snowflakes, no two pieces of ore are identical. When you take a real-time measurement, you measure what's in front of(or under) you at the moment. If all of the reported values were the same, I'd be as suspicious as you.
I suppose you could liquefy the ore and get a better, more consistent average, but I wouldn't ruin my Ninja that way.
Dino
I don't think you understand how real-time systems work.
"1.8 gpt? That's a new one. How many different values has Mexus announced as their grade being processed?"
If you measure the value and then change the process or measure something else, it is highly likely that you will receive a different value. In this case, after adding lime and additional ore to the pad, more gold seems to have been available from the ore. That resulted in higher values for both the column test on the pad - 1.8 gpt - and the pregnant solution - .48 gpt - in the pond.
Understand now?
Dino
What makes you think they are illegal?
Dino
Try looking for "CRS". I'd tell you what it stands for, but I Can't Remember S...
Dino
It's called getting your priorities in order.
Dino
I agree.
In addition, what doesn't precipitate in the MC Filters goes back in the pond and gets re-cycled.
Dino
They simply moved where they're breaking up rock a short distance away. That's merely expanding the size of the pit. They expanded to a section of the mine that's cheaper to process with their current setup. That sounds like a good decision to me.
I really like that $437/oz estimate. That provides a profit of more than $1000/oz in today's market.
Dino
I did and I still do. I think that number is still in the ball park. It depends primarily on the price of diesel. If crude holds at this level, $450 - $500 per ounce is a good estimate for direct cost. As to "all-in", I aint got the foggiest.
Dino
It's been a few years since I've done stuff like that but, as I recall, there are lots of rules when an officer of a company is allowed to sell stock. Most of them prevent the officer from timing his sale. That's to avoid pump and dump situations - not to create them.
Those trades are placed through a broker, not an on-line account. Since it is a 'block trade' the broker tries to execute the order without affecting the market any more than necessary. It can take several days, depending on the size of the block and market conditions. (Works the same way for 'block trade' purchases.) The officer may not have any idea how much he has sold or when. Usually doesn't. When the order is satisfied, i.e., all of the block of stock is sold (or bought), the confirmation slip is issued. Since this is not an on-line account, it arrives by snail mail, as much as a week later.
That's why it's delayed and why it may cover several days. You file when you get the information. The system was designed before high speed trading and also before high speed reporting.
Dino
Your post is immaterial and, more importantly, irrelevant.
No one who attended the party has said that Paul Thompson said anything about any loans and Paul was the only member of the company present.
That pretty well shoots down your theory, n'cest pas?
Dino
That has been explained many times. There's no accounting for accounting. GAAP was specifically designed to be nigh on to impossible for the layman to understand. That's so we'll keep hiring accountants.
Dino
A formal PR, issued by the company, directly quoting the president of that company is a legally binding statement. Deliberately lying in such a PR would be fraud, subject to both criminal and civil penalties. Hmmm. Those are the same penalties for lying in an SEC filing.
Therefore, Mexus Gold US did produce and sold gold, just as stated in the September 13th press release.
Dino
Because that's the way the Merrill-Crowe process works. The pregnant pond solution is treated with the appropriate chemicals and the gold precipitate is captured by the filter. When the pressure caused by the precipitate clogging the filter reaches the optimum point, the flow is shut off or diverted and the filters are scraped to collect the precipitate. Since the pressure build-up is caused be the thickness of the precipitate, approximately the same amount should be collected each time. Rinse, repeat - literally.
Since that process has been run several times, the repeatability is proven. Therefor, the quantity after smelting is a known. X pressure -> Y precipitate -> Z oz of gold.
Dino
Oops. My bad. Here's the paragraph I signed.
"2. The Purchaser acknowledges, represents and warrants that Purchaser is an “Accredited Investor” as defined by Rule 501 of Regulation D of the Securities Act of 1933, as amended (the “Act”)."
They keep changing the rules to keep the lawyers and accountants fully employed.
I'm still waiting to hear that they've finished writing the regulations for the JOBS act. One of the provisions, as I recall, was supposed to be that direct investments in a small cap company, held for more than 5 years, would be exempt from Federal capital gains taxes. Figured I'd check next year or so to see how to take advantage of that. I think my son would like to sell some of his stock.
Dino
Actually, I think the official term is "Qualified Investor". They can be "qualified" either by experience, professional advisors, or sufficient income or assets to withstand the loss of their entire investment. Usually, the first two criteria result in the third one.
That means they have the knowledge and experience (or professional advice) to understand the risks as well as the rewards in long-term investing.
By the way, the information discussed at the party was only "news" to those who hadn't seen that morning's PR, and I sincerely doubt anyone there hadn't read it yet.
Oh yeah, there was one item that wasn't in the PR - it's a long, long drive from Caborca to Reno.
Dino
This is your lucky day, Pedro. It's trading at twice your target!
Dino
Is it rich? Yes.
Is it 'amazin'? No, about what we expected.
Dino
When did you read about creating a second leach pad? This is the first time I've seen that information.
Dino
I did. I don't recall any "glittering in the sun", but I saw several seams in the areas where they were digging. That's good enough for me.
Dino
I should have said "except for the 'regulars'." I knew you and another friend talked to Paul shortly before I did. Sorry 'bout that.
I should also explain that the reason I gave the two email addresses for contact is that the one a lot of investors use has been down for a while. The ISP has some problem with it. Lack of any mail made Debbie suspicious. They hope to have it corrected soon, but in the meantime, we should use the alternate addys. I hadn't noticed, since I've always used the info@mexusgoldus.com address.
Dino
Mr. Bones,
I just got off the phone from talking to both Debbie and Paul. Mine is the first call in quite a while asking about leaching status. I learned two items of interest, however.
1) Debbie's email address is info@mexusgoldus.com. She also has a backup address if you're having trouble getting through. It is mexusgoldus@gmail.com She will respond to all emails. Oh yeah, her office number is 916-776-1822. Leave a message if she's not there and she'll return your call.
2) Paul said chemicals are being applied to the pad and tests of the effluent show good results. First run of the Merrill-Crowe should be soon. He said I could quote him on that.
Dino
"What expenses could there be beyond a room/resort fee?"
Perhaps you'd like to eat during the 3 days you're there?
Dino
20c/share does seem possible. Look at what they're grinding up and putting on the leach pad. Take look at the newest picture on the Mexus website.
http://mexusgoldus.com/wp-content/uploads/Visible-gold-768x1024.jpg
Dino
Remember,once a leach field reaches saturation, you can expect a "pour" every 10 days to 2 weeks. So, I expect at least 2 pours in July. Of course, that's after the one(s) in June.
"Nothin like the smell of cyanide in the morning."
Dino
Good thing Bre-X never filed a 10k,10q or 8k, isn't it.
Would you like me to re-post the pictures I took or Santa Elena with my own camera? I'd believe them rather than your opinions.
Dino
Yup,next Monday came early this week.
Dino
https://globenewswire.com/news-release/2018/12/13/1666373/0/en/Mexus-Initial-Drilling-at-Santa-Elena-Mine-Yields-Exceptional-Results.html
Mexus Initial Drilling at Santa Elena Mine Yields Exceptional Results
December 13, 2018 03:01 ET | Source: Mexus Gold US
CABORCA, Mexico, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) is proud to announce they have received positive assays results from the first 3 of the 9 drill holes at their Santa Elena mine.
Mexus President Paul Thompson stated, “The first batch of 75 samples have been received with positive results. We are expecting additional assays prior to the end of the year. Batches 2, 3 and 4 are expected to be completed in six to seven weeks at which time Mexus experts can complete a gold/silver resource valuation. The first 75 samples were analyzed by AA-multi element and gold/silver by fire assay.”
The first three drill holes were planned to intercept the Julio vein at shallow depth and included a new coincident shear zone at this area. The Julio Vein was intercepted from 17 to 39 meters as it seems to be foliated along the strike. Hole 1 intercepted about 0.90 meters of Julio quartz vein at 25-meter depth with detectable gold and 34.4 g/t Ag. A 3 meter wide shear zone (7-10-meter depth) is showing 1 meter of 0.2 g/t Au with almost 1 g/t Ag. This zone is a shallow dip tectonized breccia shear zone expected to contain economic values to generate a bulk mineable zone at shallow depth. Hole 2 intercepted the Julio vein at 39 meters with 1 meter of 6.28 g/t gold and 21.3 g/t silver. The shear zone stayed shallow from 5 to 17.50 meters with some anomalous silver content of about 0.3 g/t Ag. Hole 3 intercepted the Julio vein at 17 meters about 0.50-meter width with only anomalous silver 0.5 g/t. At hole 3 the shear zone is from the surface down to 10 meters deep with a 0.5 meter intercept of 0.3 g/t gold.
The Julio vein is known to contain economic values of gold and silver from previous surface and underground sampling, but the low angle shear structures are just being discovered and studied which apparently are also mineralized systems which will be the bulk mine ore producers.
This drilling stage is testing only a 200 meter portion of an estimated and suspected 3000 meter long low angle shear zone structure and also a 200 meter portion of the mineralized Julio quartz vein. Together in this area they are expected to combine to form a mineable resource. 3D software processing and interpretation of the database is progressing to be able to interpolate shear zone structures and vein intercepts with assay results as they are released from the laboratory.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com. Paul Dent 425-478-4908
Not if you're going to do it right. Wireless service at the mine site isn't good enough for video. Even pictures aren't really good enough. They need to walk the land, look at the composition and probably a whole lot of other things I don't even know about.
Ever go to a gourmet restaurant? Just like good food preparation takes time, so does survey preparation.
Dino
Seems to me that's the whole point of having well-know, respected, independent service firms do the work. The "delay" in starting was so Major Drilling could verify/modify the drilling plan to meet their criteria. ALS-Chemex will analyze the core sample on their schedule and release the results to Minetech International to plan a preliminary and qualified results evaluation report.
Mexus will probably report some of the results from ALS_Chemex while waiting for the report, but the timing of the availability of that information is up to Chemex, not Mexus.
Dino
1st Phase drilling at Santa Elena is completed.
Dino
https://globenewswire.com/news-release/ ... -mine.html
CABORCA, Mexico, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that the first stage of exploration drilling has finished at the Santa Elena Project with 736 meters of core in 9 holes. The purpose of this initial drilling program is to study a major area of geologic interest where a high-grade gold quartz vein merges with a tectonic shear zone with gold/silver values. In the area, the shear zone outcrops with 8 to 10 meters width with a low angle dip to the East and it is cut by a steeper 0.75 to 1.5 meter wide quartz vein which has previously assayed high grades of gold. 200 core samples were collected from drilling and are being sent to ALS-Chemex labs for assays.
Drilling information will be interpreted with 3D software as the geologic structure is the key to following the favorable host zones for economic mineralization. Assay results will be added to complete the database and proceed with the geo-economic interpretation of the area. This area is only a 270 meter section of an approximately 3000 meter long structural anomaly which is still to be studied. More surface work as geologic mapping, sampling, geophysics, and trenching needs to be directed as to locate the best drilling targets along this structure as well as similar structures in the area. Assay results will evaluate this section but more samples need to be collected along the 3000 meter strike of the structure.
Santa Elena is originally a quartz vein system that was planned to be developed with more than 1 million tons in outcropping quartz vein mineralization averaging 0.3 to 1.5 g/t Au and with surface evidence and potential for major low angle shear zone structures such as Noche Buena and Herradura mines which are approximately 30 kilometers to the west.
Assay results from drilling will provide the guide for the next exploration stage towards locating a potential low angle shear zone gold and silver resource.
Here's the official announcement.
https://globenewswire.com/news-release/2018/11/19/1653367/0/en/Drilling-has-commenced-at-Santa-Elena-mine.html
Drilling has commenced at Santa Elena mine
CABORCA, Sonora State, Mexico, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) announced that drilling at the Santa Elena mine located in Caborca, Sonora State, Mexico commenced November 18th. The company spent the last few weeks prepping the drill pads and preparing for arrival of the drilling rigs. Initial drilling is focused on the Julio II mineralized area. The diamond core drilling and sampling will be done in accordance with 43-101 rules. This is the beginning of Mexus’ combination confirmation/exploration drilling program with a heavy emphasis on exploration. Mexus will keep the public informed as results are verified.
New Photos
Dino
Gee, and I heard that the drilling has already started and the 1st results should be published soon.
Dino
If we showed him a copy of the countersigned contract, he'd just demand to see the cancelled check for the $75K payment. He won't be satisfied no matter what anyone else says.
It isn't worth wasting any more time or energy on this topic. He won't believe anything good about the company unless and until he receives the first dividend...maybe not even then.
Dino
http://mexusgoldus.com/wp-content/uploads/Major-Drilling.pdf#page=1&zoom=auto,-150,616
We would like to inform that Major Drilling de Mexico, S'A. de C.V. has signed a contract with Mexus Gold MX, S.A. de C.V. to conduct a Diamond Drilling Program for a minimum of 800 meters at Mexus' Project Santa Elena located in Caborca, Sonora.
This program is intended to start during the first week of November 2018'
Looks like both parties have signed the contract, doesn't it.
Dino
That's called a "milestone" in project planning. After/if they find 100,000 oz of gold, then they begin the next step in the plan. My guess is the next step would be to design the method of processing the ore.
Dino
Based on my experience with another compny's spinoff, the shares would, eventually, arrive in the buyer's account. Although the date of record is the 31st, the ex-dividend date for this type of thing is whenever the company wants it to be. In this case, the distribution date. What happened in my earlier case is the shares came into my account for a day or so (but restricted), and then left. My broker had to figure out where to "send" them.
My guess is that AGE will be handled the same way.
Dino
In the interest of full disclosure, Belgie, that's a gold tone decoder ring.
Dino
Settlement is only 2 days now, so it would be the 27th. That should be posted as the ex-dividend date.
Dino