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Mexus napkin mathematics again. Might as well use gold at $2500/oz to add to the fantasy.
Very accurate assessment a.k.a. Requiem for Mexus
Requiesce in pace
100 ounces a month ? Piffle. Wait til they get to the portion of the great volcanic quartz extrusion that yields 186 g/t. Then you’ll see some real action
Saving money has never been a priority for Mexus as you well know. 31 plus million spent so far on virtually nothing of value but........
further deceiving the investing public ? Now there is a worthy objective
So does MXSG fall under the category of a boiler room stock ? Are the contingent of “sales and loan specialists “ still hard at work ? Are they soliciting private placements as well as finding commercial lenders to keep the leaking ship afloat ?
What will be the market’s reaction to the latest disaster laden 10-Q ? A surge in the PPS or a
massive sell off or neither ? Many anticipated a garbage statement and the stock price remained relatively the same. Will the reaction this time be any different ? Very difficult to gauge at times
Yes you are. At least find something germane. Topic is toxic loans and inevitability of disastrous effects.
vet
Nothing Paul Thompson does conforms to rational thought or action. The only explanation is total ignorance or a contempt for what can be considered normal procedure...or both.
From latest 10-Q
In June 2018, Mexus completed its first test of the VAT leaching system and the Merrill Crowe gold recovery plant at the 8 brothers/370 mine project. The successful test produced 70 pounds of precipitate which is currently being dried and prepared for smelting. Results of this first run will be released soon. The material initially mined took longer to leach than expected. Mexus geologist, Cesar Lemas, has identified new material which has been column tested showing a 48 to 72 hour leach time. The company will mine and use this material going forward to accelerate recovery times.
Darned Sonoran sun just doesn't have the drying properties that you would expect but the smelting of the precipitate should begin soon.....after a 2 1/2 year dryin process.
So many anomalies, so few truthful explanations.
The next logical progression is for several accumulators to post...
With the current phenomenal daily output of (fill in the blank) ounces of gold, the new notes will be paid forthwith and there will be no need for new notes
WE'RE ON THE WAY TO FAME AND FORTUNE.
I love projections and napkin mathematics.
The "no employees" has been addressed but the mountain of debt is the killer.
No sub penny play has survived multiple rounds of toxic debt and survived.
As git pointed out.."The POG makes very little actual difference to this company. Double the POG and this company will still lose millions a year."
In the past, the question was posed..... why would Thompson (or anyone) move a massive amount of equipment (of various shapes and sizes) to the Sonoran desert if there was nothing there to warrant it ? Why erect, operate and maintain an operation designed to capture gold if there is no gold or at least enough to make it worthwhile to expend all of the time effort and money ? Good question and I have no answer other than (1) hope springs eternal and (2) where else could a 70 + year old with no particular skill find a niche where he and his family would be supported by OPM ?
A counter question would be...why would people with average intelligence and above, given all that has taken place, continue to contribute to this person's self enrichment scheme ?
'Tis a puzzlement !
Looking forward to the 10-Q with "baited breathe" to discover how Mexus plans to further fund the hobby mining effort. Paying off the toxic note due next month should be interesting. I believe it's called the law of diminishing returns.
Since MXSG has announced "production" since August 2019, many(not all) will be terribly dispirited when/if the next 10-Q doesn't report any AU sales. But disappointment is part and parcel of owning this penny play. Everyone should be inured by now.
That is very strange. You would think that at breaks and lunch time the obreros would break out their HP, Sony and Toshiba laptops, check on their stock portfolios (headed by MXSG of course) and log into an online chat room to discuss their prosperous future. Many internet service providers to choose from in the Sonoran desert.
Investing by heeding “feelings in my gut” or any other part of the anatomy rather than the brain has led many to ruin. Perhaps the definition of the word fraudulent should be examined because it most accurately describes the actions of Paul Thompson unless the statements were made in total ignorance. That could very well be the case because many other decisions and actions appear to best be explained by Thompson ignoring guidelines established by experienced miners.
Call it what you will, the results of inexperience or bogus tactics has resulted in many investors losing their A$$E$. You may have felt THAT in your gut also. Sometimes the little engine that could gets diverted and becomes derailed.
You just pointed out the difference between a legitimate mining operation and Mexus.
It's obvious Thompson had no knowledge of what AISC means much less how to determine it. 40+ years of pushing dirt and constructing flumes doesn't make him a miner.
Declaring the cost statement as he did is the reason many look at MXSG as constantly making false statements for fraudulent purposes.
Mexus earning $1600 per ounce of gold, minus costs, so maybe $1200.
Someone listened to PT and believed him....unbelievable. $400/oz cost to recover and process ? Now that is funny. Just can't make this stuff up.
To quote a previous post.....
"The production of gold does not matter at this point. All that matters is that the stock is doomed. The toxic convertibles, which we were all assured would NEVER convert, are now being converted and driving the stock price to oblivion.
It is effectively over for Mexus. The only question at this point is how long can the company's stock price retain a bid before it dies forever. Which it certainly will, as toxic convertibles KILL EVERY COMPANY THAT ISSUES THEM.
And Mexus will be just one more statistic.
Thess Monday, 02/17/20 08:12:17 PM
Post # 35510
"We are selling gold nearing $1600 an ounce."
Still looking for a retraction. Suggest people refrain from making patently false claims.
Please report the amount of gold sold, the date of sale, the price received and the buyer. Without this information you should retract your claim of sales.
OK I cede the point. There will be no sales reported on the next 10 Q but not for the reason you stated. I think there was so little recovered that it would be a total embarrassment.
I didn't see a date on the announcement of recovered gold. So you're saying it was all recovered this year ?
There appears to be a modicum of hysteria in the newest rally 'round Mexus boys appeal.
Considering the fact that this sub penny play has been floundering about the .003 area (not far from the trips) and has been losing support from long time supporters, I guess it is not a surprise to see a reprise of The Little Engine That Could theme. And when all else fails, question the motives and integrity of the critics and above all call for patience. Ten years of disappointment and charades is insufficient. Just give it a little more time. After all, investors have lost so much now, what's a little more?
Great tax deduction...$3000/yr
The one salient feature about Mexus that all must admit is that is doesn't even begin to approach a real, legitimate mining effort. It has been an amateurish effort from day one, even stating that it was a shoe string operation.
Picture in your mind, a tract of desert land. Large mining concerns have scoured the countryside searching for prospective mining sites but somehow overlooked this prize. Along comes a wanna be weekend gold putterer and "discovers" the Sonoran mother lode. How utterly bizarre does that sound ? Then, the putterer announces the commencement of operations with virtually no funding or real exploration results that would warrant a 30+ million dollar expenditure with a one man (trailer park designer)executive board.
Sound ridiculous ? I rest my case.
I am certain Mexus is no exception.......
Independent Contractors in Mexico. A common practice for many US companies with activities in Mexico is to pay Mexican residents as independent contractors. US companies do this so they are not liable for Mexican labor obligations, such as payroll taxes and employee benefits
Good ole Thompson, a benefactor to all.
"The increase in shares messed up the potential of .20 or possibly even .10, but by the same (taken) if the company continues with a lot of gold he gave up a large percentage of voting rights in the future."
What voting rights ? As in when the BOD meets ? What stock are you referring to ? There ARE no voting rights...he is the BOD.
A new LOY this week ? Resuming its’ inexorable slide to its’ true worth. >> .0001
Another MXSG psittacine uncaged. It's truly amazing the power Thompson has over the flock. Not to merely repeat the company's lies but to defend the nest at all costs.
SQUAWK..... MXSG FOREVER got a cracker ?
Good ole PT is some kind of magician. He has the power to speak to someone on the phone and turned them into a parrot, repeating the company line over and over again.
Unfortunately he's not a good enough magician to transform Sonoran dirt and rocks into gold but people have given him well over $30 million so I guess that's gold....it just doesn't shine like the yellow stuff.
I think maybe PT has painted himself into a corner this time though. The 10Q should yield some interesting details that aren't favorable to PT's plans.
If I was so convinced that MXSG is a sure winner I wouldn’t settle for a mere 2 million shares. I would take out a second mortgage, maximize a personal loan, cash in my 401k and get a second, maybe even a third job. Double down, after all youre sitting on a gold mine. With the medium - long term estimate of $2000/oz gold what could possibly go wrong. As long as Bossman is a straight shooter and is working hard for the investor, the future is assured. So throw caution to the wind, be a real man and make a total commitment.
With hundreds of thousands, hell maybe millions of ounces of gold just sitting there, only the timid, lacking courage will fail to act. Remember, 5million shares is the new goal. Sell everything and buy MEXUS, the best performing OTC stock in 2020.
The fact that the SEC has allowed this travesty to go on this long doesn't lend legitimacy to Mexus, rather it speaks loudly as to the ineffectiveness and or apathy of the organization. Penny stocks are apparently of no great concern because there have been more than ample grounds for investigation/remedial action.
There is no rational reason why the gold recovered should be "limited" or "minimal" other than the fact that's all they have to show for it. Publishing what must be very meager results would come as a blow at a time when the stock is near it's LOY and teetering on the brink of total collapse. Instead, the Dec 16 PR put people on notice that there would be no appreciable amount of gold reported.That says all there is to say regarding the recovery effort
The lack of a BOD or other company officers benefits Thompson. He makes some irrational decision and there is no one to over rule or oppose him. Thirty million + dollars of fruitless expenditures proves how well this system works .... for Thompson.
I saw a funny (and accurate) comment the other day. It said if CEO, CFO, COO, Secretary and Chairman of the non existent MXSG BOD, Paul Thompson worked in an office he would be the mail boy. As it is, the guy would probably be O.K. as an equipment operator (Cat, backhoe, frontloader, etc.) welder and all round gopher. The last thing he should be is a one person head of a publicly owned security.That's damned near a security violation in itself. At least a moral code infraction.
Maybe time for Thompson to entertain some of those "millions of dollars offers" that have been mentioned here.
Re: loan(s) Thompson reportedly said Mexus wouldn't be here without it/them. Seems to me Mexus isn't going to be here WITH them.
How long can this ill conceived/operated hobby operation last ? It's rather amazing that it has lasted this long. Seems its being used as a day trading play lately. That isn't investing, it's playing craps with a penny stock.
It has taken a very long time for me to come up with a good one word description of Mexus but then again, my age should be taken into account...5 years older than 8. Close to becoming a nonagenarian.
The word is somewhat archaic as am I. I seldom hear it used but it still describes Mexus quite well I believe.
Misbegotten.....ill conceived and implemented. That concept can be expanded upon but I believe the subject has been thrashed about at some length an we still end up with two opposing camps.....the skeptics and the (imho) delusional.
Personally, I am particularly fond of a two word description...sordidly misbegotten.
Although an appropriate response is called for I decline on the basis that it would do nothing but engender more hostility and I believe there has been more than enough of that between the two Mexus factions.
Live long and prosper ..... just don’t attempt to sucker anyone else into your Ill
founded beliefs.
No, there are holdouts remaining. Those who believe in the little engine that could and other childhood stories. The quest for gold has always appealed to those who cling to fantasies like buried pirate’s treasure or stumbling onto King Solomon’s mine.
If it sounds too good to true it probably is does not resonate with dreamers. They feel as though their lifelong dreams will be fulfilled by a penny (or in this case a sub penny) stock. And I say good for them... click your heels together and say “I believe in Mexus” three times and sure enough, they will be transported to Never Never Land
where there is no gold, just dirt and cactus. And always berate those who criticize your beliefs for they are heretics and should be purged.
How many ounces of gold do you think the next 10Q states Mexus has sold ? I keep reading that 40 ozs. has been recovered thus far so it doesn't take long to refine and sell. Consequently the 10Q should state a minimum of 40 ozs. wouldn't you say ? We should know 10 days from now unless the 10Q is late as it normally is.
Nothing says the 10Q will mention gold acquired or sold. Thompson doesn't feel it is a requirement and tried and true shareholders don't care because they BELIEVE.
And you know this how ........ you spoke to Thompson too ? Damned amazing how word is filtered through the ranks of the camp followers.