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"will MarMar actually be capable of reaching and sustaining 10K tons per day?"
Lets see. 10,000 tons divided by 100 tons per truckload is 100 trips per day. Lets assume that one of those giant loaders I saw can load a truck in 10 minutes, that's 14,400 tons per day. Of course that's non-stop, but since I saw several of those 100 ton per load dump trucks and giant loaders, I think it's easily accomplished. The distance from where they were loading the trucks to the pad was probably no more than a quarter mile. (I could see both loading and dumping just by turning my head.) Even allowing time to back up onto the pad and dumping, I'd say it would only take a couple of Marco's trucks to hit that target.
No problemo, Señor. Piece of cake.
Dino
So did I. Couldn't resist.
Dino
Oddly enough, they just announced that the folks who invested with Madoff just got the last of their money back. Just the principle, but at least they got a refund.
I'm doing one H*** of a lot better than that with Paul Thompson.
Dino
That's 4 grams/ton of pregnant pond solution. A ton of water is 241 gallons.
Dino
Some of the ore is now being crushed. Most of it looked like it had not. My guess - and it's nothing more than a guess since I didn't ask - is that it depends on where the ore is taken from. The original ore used did not require crushing, some of the ore I watched being dumped looked like it was. I think that's called open pit mining.
Dino
They're real. I took them.
Dino
New pictures on http://mexusgoldus.com/media-gallery/photos/santa-elena-mine-2/. The last 7 pictures are of the new MC operation during initial testing. Pictures taken 12/1 -12/3.
Dino
No. Why should I? I bought some 4 months ago and it's down more than 50%. No news, no interest.
If you're pumping, I'm dumping.
Dino
Then you're posting on the wrong board.
I've only got a little PNTV. Hasn't done much since I bought it. The one that's gone wild is ACBFF.
Dino
You think something is actually going to happen?
Dino
They didn't meet their schedule either.
I congratulate them. I've not followed them but it seems like a job well done.
DINO
Not that I'm aware of. Marco may have, but I doubt Paul has.
Why do you ask?
Dino
On a startup? Some things happen ahead of schedule and most after. I think that's why they call it "exploration" and "development".
Dino
Sorry, drobx, I'm too cheap to be able to reply to private messages. The answer to your question, however, is "Possible? Yes. Likely? No."
Dino
Has anything else met it's original schedule - on ANY startup mine? By any company? Besides, there are several large ticket expenses coming due. The payback to MarMar, the San Felix payments, startup equipment to re-open San Felix, etc., etc. A cushion seldom hurts and I recall seeing anything that said the loans could not be paid back early.
Dino
The new Merrill Crowe wasn't free. The money went toward purchase, assembly/modification, shipping, import duties/fees, installation and probably a whole bunch of other things I'm forgetting or not aware of. All things considered, I thought it was a good investment.
Dino
Jim,
If the buyer is a market maker, is it really a "buy"? They've agreed to buy when no one else wants to. They also sell to individual buyers when everyone else would rather hold.
Yeah, there are limits, but that's how it works both most of the time and for a long tome when there is an imbalance. The NYSE used to work that way, too, but they called them "specialists".
Dino
Lets see...
Construction: Like building storage sheds, office buildings, crew facilities.
Moving dirt: Like building adits for mines, pads for leaching, crushing and stacking ore, roads.
Manufacturing: Like building trommels, shaker tables, water trucks, stamping mills, Merrill Crowe circuits.
Nope, nothing useful in mining. Course I've left out a few things, but its all just moving dirt, construction and manufacturing.
Dino
The picture was taken while it was under construction. Wait until it's finished and painted before you criticize it. I'm hoping that, when it's finished, it will remain on the trailer while in use. That way, it's a portable system for tuning chemistry and available for quick deployment to other sites.
I think that's an ingenious solution! Remember, Mexus has several mine sites in addition to the Santa Elena and the San Felix.
Dino
Do you think the UVA study will help Hemp?
https://finance.yahoo.com/news/22nd-century-completes-successful-hemp-134500812.html
Dino
Bought Monday. Cash this time. Last time was on margin. Don't like to do that. Takes a while to raise cash.
Just looked. Only $113 available margin left, so it wouldn't be worth it anyway.
Dino
Then buy some. That'll help.
Dino
It was NOT shut down as of 6:30 PM EDT.
Dino
So that's why my back hurt.
I should have said 6 inches at the thickest point. I was going to say 40-50 pounds, but I figured no-one would believe me. Solid block => 200#? Yeah, irregular shape => 40# easy.
Dino
I saw a chunk of that ore in Paul's office. He told me to pick it up. I wondered why the sly smile, until I did. It's about 18" x 10" x 6" high or so. Gotta be 20 pounds! LOTS of shiny facets. I can see why it would be blinding in sunlight.
Dino
I don't think so. When I talked to him this afternoon I had the impression he is planning an annual meeting - in person, in Nevada, I think.
Dino
It's just the impatience of youth.
Dino
Every core sample is split and half tested by an independent lab. Just like everyone else does. The original PRs even gave the name of the assaying lab.
Dino
Yup. It might hit $3/share by the middle of next year. Probably not until near the end, though.
Dino
No. He meant assays. Look in the latest PR. I highlighted the relevant sentence to make it easier for you.
Dino
Mexus and JV partner MarMar confirm production at Santa Elena mine
Sep 11, 2017
OTC Disclosure & News Service
.
.
.
Mexus Geologist Cesar Lemas added, “During the month of August, the first 3 meter heap leach layer was completed with approximately 30,000 tons of ore being processed. Contained metallics are in the order of 2,000 to 4,000 oz Au and 10,000 to 15,000 oz Ag. Continuous leaching and Merrill Crowe processing will gradually turn the contained values into dore via our recovery system. Mining will also continue with the next 3 meter high heap layer being placed. Solution monitoring by fire assays shows steady recoveries in the order of 1.0 to 2.7 g/m3 Au in 3 to 5 days with an additional 5 up to 43 g/m3 Ag. Continued leaching will concentrate pregnant solution to the optimum values for Merrill Crowe processing. The current flow rate of 50gpm will be gradually increased to 200gpm to achieve maximum processing capacity and overall production. Additional primary filters will improve flow rates and recoveries from the solution. Parallel electrowinning is being installed to trap some of the high grade pregnant solution spots.”
It did not. Kitco has a search box in the upper right corner of their home page. I searched on both Mexus and MXSG. The newest PRs reported were from 2015 and 2014.
They don't know what they're missing.
Dino
Maybe he wanted to eat dinner?
Besides, the market is fickle. The stock did pop on announcement day but retraced most of it the following one. As an "insider", he is limited to selling on a predetermined schedule, filed long in advance, and then, as I recall only at the closing price on the day of the sale. In other words, the SEC has removed, to the best of their ability, the opportunity for insiders to sell their stock at opportune moments.
The stock Paul is selling to meet his everyday personal expenses is some of his "salary". I'm positive that he would prefer to keep all of it, but it's his source of income.
Dino
He gets paid in stock to conserve cash. I haven't bothered to do the math, but the numbers are in the 10K. Divide the "salary" by the # shares.
Now that the company is actually producing revenue, I'm sure that compensation method will change.
Dino
I don't think there's a "pour" as we think of it with this technique. The plated rods/steel wool (whichever they use) are sent to the refiner and "poured" there.
As to when, I think it'll be a lot sooner than 30 days.
Dino
Let's see how many I can answer.
The excess clay is due to the torrential rains. The same rains that flooded the US Southwest. The clay is runoff in the pond. That doesn't affect the grams/tonne of the heap at all.
They need to filter out the clay without removing the PM at the same time. I think it can be done, but I also think it will take a long time, so they decided to go with the EW in the short term. If the results using the ElectroWinning are good enough, they may never go back to the Merrill Crowe. No loss, however, since I think they need a better one at Felix.
The assay shouldn't be affected that much by the clay. How much extra salt can you add to a soup without changing it's volume? As I recall, it's 1.5 grams per liter. I suspect there's gold and silver on the MC filters. Just not what they wanted to announce. Meanwhile, at 1.5 g/l and 4000 l/hour, they're electroplating gold and silver. You do the math. It shouldn't take long to be a significant amount, but there's lots of fine tuning to increase the efficiency. The nice part is, what's missed on the first pass is simply recycled, so no PM is lost.
Although I've experience in plating, I've never done it in a 4Kl/hour stream. So, all of the above should be considered a SWAG at best.
Dino
Mexus JV partner releases update on the Santa Elena project
http://mexusgoldus.com/mexus-jv-partner-releases-update-on-the-santa-elena-projet/
Carson City, NV –
CABORCA, SONORA STATE, MEXICO, August 8th, 2017– Mexus Gold US (OTCQB: MXSG)(“Mexus” or the “Company”) released a report prepared by its JV partner (MarMar Holdings) for the Santa Elena project. The unedited report details mine progress to date and the mine plan through August. Most notably is the recovery of gold using an activated carbon system.
MarMar report for the Santa Elena mine: http://mexusgoldus.com/wp-content/uploads/Santa-Elena-Report-05082017.pdf
Dino
Huh?
If they're using Georgia buggies, it's about 500# each load (1/4 cubic yard).
Dino
Knowing when to get expert help is a sign of experience. The inexperienced are sure they can solve the problem themselves.
Dino
For those of you who think Mexus needed to provide more information about the first pour, here's how a NYSE listed company announced the first pour at their only property. It was released after market close on Tuesday night.
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/453-tsx/pvg/33569-pretium-resources-announces-first-gold-pour-at-brucejack-mine.html
Now that's how it ought to be done!
Dino