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Huh?
Dino
I don't have an estimate. Actually, a dollar might be close since Fortitude was about one third of GORO's stock when GORO was priced at about a dollar. However, as you just pointed out, the market isn't rational about such things. It will probably open (or rise almost immediately) much higher than that. A $3.00 price tag wouldn't surprise me at all.
My comment was a criticism of your math, not your predicted price. As I recall, if GORO didn't have the cash from non-PMs they'd lose money.
Dino
I think your analysis is way off base, but I'm not going to call Jason. You've assumed that every one is working for free and all equipment, supplies, diesel, etc. has been donated.
Not likely.
Dino
Where did you find that article, Gene?
Dino
Thanks, wxdog. That's the best - and most concise - explanation of the process I've seen.
Dino
You need to put the data in context. At 30 gpm, the two carbon filters were capturing all the PM from the pregnant solution. At 60 gpm, however, that appears to be not the case; hence, the extra filters being delivered. Even then, PT is predicting only 85% recovery at the 60 gpm rate. Apparently, the cost analysis said that gave the most bang for the buck. Of course, the percentage "missed" by the carbon filters just goes back in the pond to be re-filtered.
If I remember correctly, the MC is designed to be used at a still higher flow rate - up to 800 GPM(?). When the flow reaches the required minimum, I'm sure they'll switch.
The problem with reporting real-time data is that it fluctuates constantly. PT reported the most recent readings he had at the time.
Since he takes readings several times a day, that can be confusing at times.
Dino
Sure doesn't look like an empty shell to me. https://gazette.com/business/gold-resource-board-approves-fortitude-gold-spinoff/article_85d8b9c4-40eb-11eb-8f3f-8ba811ab254a.html
It owns a producing gold mine. When FINRA assigns a trading symbol, I expect the company will be listed shortly - probably on the AMEX. I hope it's soon. I can't even get a quote, or even a basis for the stock.
Fortitude Gold has nothing to do with Mexus other than probably having some of the same stockholders.
Dino
Yes it does. Doesn't copy too well.
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Dino
I don't know what number you're calling. His contact information, as posted on the Mexus website is:
Contact Us
Address:
1805 N. Carson St. #150
Carson City NV, 89701
Paul Thompson Sr.
pthompson@mexusgoldus.com
775-721-9960
Paul has either answered the phone or returned my call every time I've called. The last time I spoke to him was actually when he was in Walnut Grove to sign a filing. I called to tell Debbie that the PRs weren't being carried by TDAmeritrade. When I asked her about something in the PR being questioned on this board, she asked him for me and he picked up the phone to explain. (I repeated his explanation here.)
I still don't know what "group" you're talking about. I'm still holding my stock. I'm pretty sure that none of the investors who participated in private placements have sold that stock. If you have conflicting information, please post your source.
Dino
What "private club", 49er?
By the way, PT is at the mine site, as is both the mining crew and the security guards. Isn't CMKX some sort of diamond scam? I hope you didn't get suckered into buying some.
Dino
PR said he did.
So why are you surprised?
Dino
This discussion has been about the number PT stated in a PR. That was not an all in inclusive cost per ounce. Therefore, as Perry used to say, your arguments are "incompetent, irrelevant, and immaterial" They are "Facts not relevant or essential to the matter at hand."
Dino
Nope. Wrong again. The depreciation is based on age. In the real world, not IRS, the value is dependent on mileage, reputation of the manufacturer, model, accessories, etc. But GAAP doesn't recognize that. You just claim the additional amount, plus or minus, when you dispose of the asset.
Do you need to know your lifespan to figure out how much it cost to feed you last year?
Dino
We (actually, Paul)know exactly what the land/lease cost, the cost of every piece of equipment, the wages if the workers, cost of chemicals, etc. The end value of the equipment is what GAAP and IRS says it will be. They also say how long it will take to reach that number. However, once the residual value reaches zero doesn't mean that the useful life is gone to PT; only to the accountant.
In my previous example, the IRS says it costs $0.575/mile this year. Last year was $0.58/mile. Is that realistic? The courts think so. The alternative is to use their standard depreciation and the actual maintenance and fuel cost. Either way, it's a known quantity.
Dino
Simple. You spread it across the number of ounces actually produced. If I ask you how much per mile it cost to operate your car last year, would you need to know the life expectancy of your car? No, just the depreciation, cost of service, cost of insurance and cost of fuel. None of those are dependent on life expectancy, not even depreciation, since that's set by an arbitrary IRS table.
Dino
Every time you predict the closing price of Mexus you have been wrong. Does that mean you have been telling lies? No, it just means that you are pessimistic about the future of Mexus. You have your opinion, PT has his.
I agree with PT.
Dino
Very well said, Realtor.
I like your way of thinking.
Dino
If you read the previous PR
Mexus Recovery Efforts at Santa Elena Mine Progressing; Build Out of Heap Leach Pad on Track
https://www.globenewswire.com/news-release/2020/10/26/2114006/0/en/Mexus-Recovery-Efforts-at-Santa-Elena-Mine-Progressing-Build-Out-of-Heap-Leach-Pad-on-Track.html
Glad to hear PT has solved the problem with the mud. The recovery should go much faster now.
Dino
What a concept!
Dino
Gee, if I had to strip the left half of my leach pad down to the bottom 5 feet, where would I put the cyanide "contaminated" ore I remove?
I'd probably put it on top of the right side of the pad that I'm not going to strip. That way, any leach solution that drains from the ore would go into the pregnant pond, just the way it was designed - and approved - to do. If I decide later that I need to strip the right side, I'd reverse the process.
Seems simple to me. Am I overlooking something?
Dino
From that 8-K:
https://www.sec.gov/Archives/edgar/data/1355677/000107878220000656/f10q063020_10q.htm
Probably not, Pedro. The Mexican operation is incorporated in Mexico, not Nevada. Besides, OSHA looks at safety, not beauty. Plugging a leak in a clean water supply pipe doesn't have to be pretty. If it did, the EPA would be the agency that would be upset.
Dino
Since they're building a second pad from scratch, I don't think it's much of a problem. My guess? After the new pad is producing,
Wrong again! From today's PR:
That's what happens when you miss that little "Limit" widget.
Dino
Will you accept a 10-Q filing as factual? Here's an excerpt from page 3 of the last 10-Q. My Bolding.
I thought most funds can't hold stock priced at under $5. If so, do the funds that can hold low-priced stocks still have a restriction on OTCs?
The last spinoff I was involved in was Riverside Resources (RVSDF) spinning off Capitan Mining (CAPTF). It took a round of funding for them to qualify for listing on the TSX and the BBN, so it was a few weeks to be listed.
Spinco won't have that problem. With $10 million in the kitty and an operating mine, they should have no trouble getting uplisted quickly.
Dino
No, we cannot agree. Argonaut backed out because of the expected price of gold at the time, not the drilling results. According to the latest PRs, "credible" JV offers are being considered.
Wrong on both counts.
Dino
Neither. Argo didn't do enough infill drilling to generate a report. The results are useful, but not sufficient.
Dino
I think you missed my sarcasm.
Dino
If you call the broker, a Rep may be able to place the order for you. I've gotten them to do things for me that the on-line system flat out refused. The commission is 4 times as much, but if you really want to sell...or buy.
Dino
If the extra commission is worth it to you, try placing a broker aided trade. Who rejected it?
Dino
Have youu tried placing an order for MXSGD? 98K traded so far today.
I'm not planning to sell mine anytime soon, so it doesn't matter to me.
Dino