Mexus Gold US (MXSG)

[rbtree]

Right. That would be an 8-k. But, I'm not so sure it is considered a material event as far as the SEC is concerned. The reason would involve the fact that MXSG remains an exploration company, and, to abide by SEC Guide 7 standards, can not claim to be in production. Any gold produced must be accounted for as a by-product of exploration. This, of course, is technically not quite true, as they are not doing normal (or proper even) exploration. To claim to be in production requires establishing proven reserves, which can't be done with fully drilling out the property, and then producing a full feasibility study, which then could result in a valid production decision.

No one here seems to think much of that requirement, but it must be followed. IMO, it was dumb of GORO to do the same, as, in the end, they had to do it anyhow, but, because they had already done scads of drilling, testing, and studies prior to gaining full and legal production. That is where Mexus differs, as very very little testing has been done, by comparison. They seem to be content simply winging it. Who knows, perhaps they didn't get the grade results, or ounces they thought they would. It is possible, you know. Without proper drill testing, there is no way to know for sure what all the ore deposit grades out to.