Mexus Gold US (MXSG)

[rbtree]

Good article.

Problem is, MXSG hasn't done enough exploration to be able to quantify anything. They have no reserves, proven, probable, inferred, what have you.
Contrary to what some say, very little proper exploration has been done.

This is why they can not call themselves a producer in SEC filings, unless or until they produce a bankable feasibility study. Which is unlikely to happen. They would need to spend millions and do years of drilling, testing, and reports. Unlike GORO, which was in production without proven reserves for a couple years, since GORO HAD been spending millions on developing the property, and was able to finally achieve proven reserves, and call themselves a producing company.

Mexus, by contrast, is winging it.

No wonder it looks to be breaking support and headed into the 4's....