July 20 mini update
I spoke with Paul Dent yesterday and while I got no specifics about immediate production status, I did get a few answers to other questions I had. Not much new here, but more corroboration of what has been previously said by Mexus. I am paraphrasing and shortening but basically and fwimbw:
1) PD re-confirmed that avg ore grades ARE as previously stated based on independent assays done in Reno… 1 to 1.2 gpt. Additionally, vein results are substantially higher. If/when vein material is placed on pads for leaching, results will be commensurately higher. I didn’t get any specifics re whether vein material may have already been placed on pad(s). I also didn’t ask specifically which material had been assayed, where samples were taken, etc
2) Cesar Lemas is prepping an updated technical report of Sta Elena and it will be included in a PR when completed. PD was hopeful we’ll see that within 30 days. It should give us a clearer idea of what we have at Santa Elena, which again, PT maintains will be as previously outlined.
3) PT, like most of us, has been unhappy/frustrated with speed of progress at Santa Elena and has taken a more active role in “getting it done”. He has “gone quiet” re PR’s because he is weary of disappointing shareholders with missed timeline estimates. His bias is to now wait for definitive results. (personal note: I don’t necessarily agree with this approach as it often leaves shareholders in the dark but… with facts on the ground having been so fluid, especially at startup, I can understand hesitancy to say too much only to have to constantly adjust later. I believe it’s possible to do well, but it IS a time suck and -- like it or not -- PT calls the shots at Mexus…and “skillful comm.” is clearly not a strong point / natural talent for him.). I do think emails to PD from us, however, are heard…with the gist regularly passed on to PT.
4) PT and PD speak frequently and both are well aware of shareholder concerns. I remain hopeful that once Santa Elena proves out and reaches a more steady state, needed measures to improve communications and corporate governance will be taken to make Mexus a more “credible” enterprise.
My basic takeaway, fwiw: like all of us, I still want/need to see gold produced and more definitive info re overall geology and mine planning going forward to feel more relaxed/confident, but from this conversation with PD, I did get a stronger sense that there is no secret/negative giant shoe waiting to drop as some have suggested and that it’s a matter of “when” rather than “if” regarding longterm, profitable gold at Santa Elena. We should know pretty soon now.
all imho…
