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There must be a reason why ITRO PR's would be posted on the MXSG board I just don't know why. The tie between ITRO and Mexus is tenuous at best. Attempts to tie the two together is nonsensical.
That's a question that I asked previously and came to the same conclusion. In fact I expanded on it slightly and determined that everything about Mexus sucks.
With a CEO boasting 45+ years of experience, they can't find gold unless they trip on it. Much better to plant large tracts of lophophora williamsii but Thompson would probably screw that up too.
Drill results? Who needs to pay attention to drill results? Or 3-D Models? Or 43-101 reports?
Drill results not required when you have previously developed geological mapping per Mexus.
"Using previously developed geological mapping the company plans to mine the Julio quartz vein and the adjacent shear zone via open pit mining. The existing Julio vein, with depths to 30 meters and widths from 1 to 4 meters, has values ranging from 1.5 to 186 grams Au per ton. The adjacent shear zone carries values from .5 to 17 grams Au per ton. Mexus estimates that the shear zone will average 2.5 grams per ton gold equivalent with the Julio vein values being much higher."
Nope. No mention of it and no record of litigation. For whatever reason it appears Mexus wrote that loss off.
Cost recovery efforts ? What efforts are those ? I don't recall any mention of that.
The latest mining effort was to fund further drilling and exploration. Recovery of $28 million ? Not likely.
Globe Newswire Feb 25
The company has removed approximately half of the material from the existing leach pad in preparation for the soon to be mined Julio II quartz vein material. Mexus President Paul Thompson believes the company can achieve one gram per ton gold recovery along with 4 grams per ton silver. This small but important production amount will give Mexus the funds to begin its second stage of drilling and meet ongoing obligations.
"Recently, there have been two major mining companies who have visited the mine reviewing grades and current infrastructure. Mr. Thompson stated that although the plan is to continue to move forward towards production, the company will consider offers and opportunities that would maximize shareholder return."
The expected yield per ton keeps changing....like the wind or the tide > or the effluent level at the sewage treatment plant.
Guess the two major mining companies weren't impressed.
It has been said, repetitively, that Mexus is "in production"
When is a mining operation considered to be "in production"?
The first step in the production stage is recovering the minerals. This is the process of extracting the ore from rock using a variety of tools and separation methods.
The next step is processing.
Once processed, the ore is then transported to smelting facilities.
The following step in production is smelting. This process involves melting the concentrate in a furnance to extract the metal from its ore. The ore is then poured into moulds, producing bars of bullion, which are then ready for sale. When the metal(s) sell, the company can be considered "in production'.
Thus far, Mexus is NOT in production !
Planning the Mexus celebratory party and festivities must be an all consuming task. Marching bands, banners to string, giant flying balloons to lease. Caterers to hire, name placards to print, fireworks permits to apply for., and of course a giant replica of The Little Engine That Could with WINK WINK painted on it's side. Finding an appropriate venue will be difficult.....maybe the Rose Bowl is available. So many tedious details,
Invitations to uber optimistic only.....Répondez s'il vous plaît
Essential guidelines in how to be a successful gold mining investor.
1. To be an informed investor in the building of a prosperous mining business requires enormous amounts of understanding/investigative knowledge of precious metal properties.
2. It demands significant reading to self educate yourself about mining processes and trust in the strategies chosen by the management.
3. Reaching out to converse with other highly educated and personal resource people are positive decision factors before investing.
4. Often overlooked, is the capability of discernment, after due diligence has been accomplished. Discernment is a sacred gift given to those individuals that study, demonstrate courage required to take investment action as a result of their due diligence.
5. Last but not least, many long term shareholders who have endured the long journey are most confident that the common startup recovery problems have been resolved. More importantly, thanks to all that withstood the interminable journey because "The Little Engine That Could" is about to pull into the station soon! We believed, took the opportunity, and wait patiently.
(Remember The Little Engine That Could from the first grade ?)
ROTFLMAO
I believe the opposite of accumulator is a vacuum ulator but it's better to ask a professional scribe/ newspaper editor/ publisher/4th grade teacher/investor with the well recognized brief sentence style.
Do you think those Miserable Marauding Manipulative Market Makers will pillage and plunder again today ? Powers at be ......wtf
What they do is almost as bad as a scam stock deceiving its' investors.
Dirty triple M’s (manipulating market makers) are making MXSG look mighty bad, mighty bad indeed.
I wonder what s happened to the golden cross, the tea cup and all those squiggly lines. Coffee grounds work much better.
It’s looking mighty sad Mexus, mighty sad indeed. Wink, wink.
I wonder why Mexus spent all that money on drilling when an “accume” had the
data that showed a million tons or so of 5g/ton paydirt. Just follow the quartz
vein to the gold bonanza. Wink, wink
How long does it take for a leach pad operation to yield results ? 26 days appears to be the average time unless the addition of Portland cement is applied. The cement apparently helps cut down the time considerably.
All of the elements that Mexus used as an excuse in the past are still present......clay, salt, etc. so what is different this time ? Nada ! SOS different day.
I wonder if the process of selecting best metallurgists available from applicants has yielded results. Seems a bit redundant when Garcia, with his immense knowledge and experience has been hard at work supplying his infinite expertise to the operation.
Oh wait, isn't he the same expert who spoke of the 2000 - 4000 ozs contained in the Marmar muck disaster? Amazing how that disappeared. Mexican evaporation !
New talent definitely required along with some gold bearing ore.
WOOOOHOOO IS RIGHT. If the quartz intercept yields .1 to .3 grams per ton, that would work out to 450 tons of QUARTZ ore to yield 1 oz Au. assuming a 70% recovery rate. The material adjacent to the "quartz bonanza' apparently yields negligible amounts of gold. So how can this operation be thought to be profitable ? Given the fact that Elena was said to be the area with the highest yield, the property looks to be best suited for raising agave.
Just think Unca Git, production is imminent once again. Using figures offered by Lemas, the geologist/metalurgist/mining expert, you're looking @ 3500 tons per week at 4 g/ton=43500g divided by 31 = 1403 ozs of gold per week. Of course you must take into consideration the production cost per ounce which according to Thompson is an amazing $400/oz
Of course we're talking optimum yield and conditions here but a conservative estimate would still be a potential of close to 1 million a month, inclement weather and equipment failure notwithstanding.
If it were not for Thompson's abysmal record of failure and the fact that there is insufficient gold to justify these figures.... I would have become a "majority accumulator" a long time ago.
Missed my chance to post on April 1, dagnabit.
Fresnilla and Newmont, owners of La Hurradura are wasting their time and energy. Their measly .79g/ton yield is chicken feed compared to the Lemas’ estimate of 4 g/ton at the Mexus site. Just makes you wonder if those Major Miners know what they’re doing .... missing a golden opportunity. LOL
Shazbot. Is it possible another crack in thin veneer of MXSG believability has developed into a major fissure ?
When a long time shareholder and outspoken advocate of all things MEXUS begins to question, saying they are tired of hearing two years worth of PR's saying a bunch of nothing, the fabric looks to be unraveling.
Of course large "accumulators" wish for the best but few will accept the fact that this dog and pony show has shown itself to be just another penny hoax.
Hang on 'cause the same fictionalized version of gold mining will continue to play to a diminishing but eager audience looking to become rich until they realize........ain't gonna happen.
Re: Maybe Lord Keebler and we elves shouldn't start celebrating a Mexus demise just yet.
Just don't buy expensive champagne, Stick with the customary MXSG brand kool aid instead.
How long until the latest charade plays out ? What has changed ? Have all of the elements which prevented the success of prior attempts disappear ?
A jaw/cone crushing screen plant has been moved into place and should be operational by April 1st. (APRIL FOOL) The system will include a 400ft conveyor system to carry the 3/4 minus material to the recently readied heap leach pad. The system includes a newly installed automated lime pH system.
Mexus has been busy acquiring additional equipment which is necessary to operate the mine. The company recently purchased a CAT front end loader and a Gardner Denver hydraulic track mounted blast drill.
Unless all of this equipment has been donated, Mexus has had to pay for these acquisitions with funds coming from what source ? Good thing they increased the AS a billion shares but who is willing to be paid in MXSG shares ?
Here's a thought. Maybe gold doesn't appear in sufficient quantity necessary for a profitable mining operation.
In the meantime, the old hobbyist's compensation just keeps rolling in. A quarter million bucks a year plus "misc expenses".
Once again Mexus is at the "production is imminent" stage. How many times does that make, I lost count?
Of course this time you have Lemas estimating 4 gm/ton AND savvy metallurgists to monitor progress along the way....not like last time when they were making things up. (wink wink)
Who knows, this may develop into an enormously rich pond of sludge yielding between 2,000 - 4,000 ozs. Au. After all, they have those spectacular drilling results and the (unreleased) 3D model and 43-101 report o guide them.
LMAO It just keeps getting funnier. funnier
How many times has this scenario played ? It's a wash, rinse, redo. Same words, different date.
What happened to the 3D model and what happened to the two major mining interests that toured the property reviewing the infrastructure and ostensibly determine whether it was worth owning/ participating in the property ?
Why has there been no report of revenue in the last nine years ? BUT, they published photos of some "cool ingots" and Thompson spoke of pulling $500,000 out of San Felix every 12-14 days back in 2012 -2013.
Things don't compute, and never have.
Sub penny again. Time to pull another story out of the old diversion bag. They’ve used so many it may be time
for a repeat. New investors may not be familiar with all of the stories yet. The “major mining interests” looking things over was a good one though. Have to use that one again at a later date.
Isn't it amazing how, when on the naked edge of setting a new yearly low, Thompson comes up with a hail Mary ? How many times does this make ?
First, two anonymous "major mining companies" appear at the doorstep to peruse "mining grades and infrastructure". Sure hope they don't look at recent drilling results.
Then, a "small but important production" is about to occur. Never mind they haven't been able to successfully recover virtually anything yet but by golly, that's about to change.
AND PEOPLE FALL FOR IT, OVER AND OVER AGAIN.
Watch my left hand carefully ladies and gentlemen as my right hand deftly and stealthily lifts your wallet.
But be assured that Thompson is constantly looking for ways to maximize shareholder's return. What a guy.
Globe Newswire Feb 25
The company has removed approximately half of the material from the existing leach pad in preparation for the soon to be mined Julio II quartz vein material. Mexus President Paul Thompson believes the company can achieve one gram per ton gold recovery along with 4 grams per ton silver. This small but important production amount will give Mexus the funds to begin its second stage of drilling and meet ongoing obligations.
"Recently, there have been two major mining companies who have visited the mine reviewing grades and current infrastructure. Mr. Thompson stated that although the plan is to continue to move forward towards production, the company will consider offers and opportunities that would maximize shareholder return."
PLAN TO MOVE FORWARD TOWARD PRODUCTION ? And all this time, I believed that which was stated on their website. >>>>>
Company Overview
MexusGoldUS (OTCBB: MXSG) is a gold and silver producing company with projects in Mexico.
Naw, you're saying that those
Mexus "experts" were not being objective ? That they were not being honest and forthright like Paul Thompson ?
Who woulda thunk !
What ever happened to the bevy of "experts" employed by Mexus throughout the years ? There were metallurgists, geologists, mining engineers, chemical engineers ......so many. And they all had "impressive" credentials. And yet.........still no appreciable results. What could possibly be wrong ?
Re: 3-D modelling...
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.
But, but the 3D imaging was supposed to be part of the drilling, assay report. Are you saying this was some kind of subterfuge ?
Not that it makes much difference. The Mexus holdings are close to the Herradura mine, one of Mexico's largest open-pit gold mines and everyone knows that Mexus has resources almost as good as Herraduro. All that is required is an infusion of a great deal more cash ( and the expertise to extract a vast amount of gold where it appears so sparsely.)
That's right, the lab is preparing the 3D display which will show the underground labyrinth leading to Montezuma's treasure.
Remember the Mexus statement, "Production is imminent" ? That resulted in protracted arguments as to what "imminent" means. Kinda like, depends on what is,is.
Bottom line....like every other statement coming MXSG, it is a far cry from the truth.
But maybe the newly acquired "B" boys can obfuscate all of the misrepresentations and lies and sell it to a lender willing to take a tax loss.
Maybe MXSG is hoarding all of the golden harvest they have reaped waiting for an historical repeat.The price of an ounce of gold hit an all-time record of $1,895 on September 5, 2011. When that occurs again they will startle the world with what they've been withholding.
Yeah, that' the ticket.
Better get SOMETHING going so they can produce that bouillon or bouillabaisse or whatchacallit....gold stuff.
Berk said Mexus was looking for property in Nevada. Maybe they should prove their Mexican claims before doing that.
I wonder what kind of real estate $5k buys in Nevada.
Great advantage being MXSG CEO, COO, CFO, Secretary, Prez of BOD. Do anything you desire...accountable to no one. Lie, steal, who's to know ? But Thompson, with over FIFTY years of mining experience (replica stamp mill) is as honest as the day is long........ in Barrow, Alaska in February. Altruism at its' finest.
That doesn't make sense given the structure of the text.
"That mantra we were told from "the big shareholder" of how Ken tried to scam two old and studid gringos."
Strange
TWO old and stupid gringos who scammed themselves ? That one went flying by me. Who are you referring to ?
A 6 year history of 10K statements of loss, revenue and other fascinating things to ponder.
2013
We had a net loss during the year ended March 31, 2013 of $4,333,436 compared to a net loss of 1,511,932 during the same period in 2012. We had a cumulative net loss of $8,636,725 for the period from September 18, 2009 through March 31, 2013.
2014
We had a net loss during the year ended March 31, 2014 of $6,993,406 compared to a net loss of $4,333,436 during the same period in 2013. We had a cumulative net loss of $15,630,131 for the period from September 18, 2009
2015
We had a net loss during the year ended March 31, 2015 of $947,856 compared to a net loss of $6,993,406 during the same period in 2014
2016
Year Ended March 31, 2016 Compared with the Year Ended March 31, 2015
We had a net loss during the year ended March 31, 2016 of $2,177,577 compared to a net loss of $947,856 during the same period in 2015.
2017
Year Ended March 31, 2017 Compared with the Year Ended March 31,2016
We had a net loss during the year ended March 31, 2017 of $3,806,697 compared to a net loss of $2,177,577 during the same period in 2016.
Revenue
2018
We had a net loss during the nine months ended December 31, 2018 of $1,664,951 compared to a net loss of $2,906,769 during the same period in 2017. The decrease in net loss is primarily attributable to (i) a decrease in general and administrative expense of $98,549 (ii) a decrease in stock-based expense – consulting services of $847,249 (iii) a decrease in loss on settlement of accounts payable of $252,000 (iv) a decrease in impairment of mineral property of $75,000 (v) an increase in the gain on settlement of debt of $157,991 and (vi) an increase in the gain on change in fair value of derivative instrument of $153,177. The decrease in net loss is partially offset by an increase in exploration expenses of $89,719 and an increase in interest expense of $271,721.
Revenue
For the nine months ended December 31, 2018, we had revenues of $0 compared to $0 for the nine months ended December 31, 2017.
Liquidity and Capital Resources
At December 31, 2018, we had cash of $5,033 compared to cash of $125,942 at March 31, 2018.
I'm fairly certain you called it correctly the last toxic loan they took out. I believe you said one toxic loan begets another...and another. Known as the toxic loan spiral of doom. Paying a 75% premium is indicative of their credit worthiness. Next, want to guess the timing of the declaration of an RS ?
An RS was proposed as a possible strategem that Mexus might adopt as away out of the quagmire in which it finds itself.
It was suggested that Thompson has very few options remaining. Personally, I don't think there are any options left. I believe it's all over for this garbage.
Still to come....the all out MXSG saturation blitz using selected penny stock "newsletters".
Reverse stock splits always cast a negative image, at least to seasoned investors.. A company is more likely to undergo a reverse stock split because its share price has fallen so low that it is considered a garbage penny stock. Veteran investors will see that the company is struggling and that the reverse split is nothing more than an accounting gimmick.
What possible good could come if the Mexus PPS was artificially increased to .067 ? None whatsoever as far as I can see.
An RS would carry with it the GIGO effect... garbage into (the split) garbage out. But Thompson has tried every other trick and failed...maybe an RS will be the last hurrah.