Mexus Gold US (MXSG)

[T-Hawk]

First, I have no obvious agenda. I've been very transparent I am currently on the sidelines and why.

Second, I have stated no indication of what has been contributed towards expenses. I have no idea what was spent where, and neither does anyone else. That's the issue. This company has burned through a lot of money according the the last 10-Q. What was it spent on? Expenses that large typically go towards 3 things. Either labor (and in that I would include consulting expenses), equipment and assets (they did state they were building up a new structure to enclose the new Merrill Crowe, and operations (office supplies, electric bill etc.)

Let's look at those three categories.

Labor - Since Mexus had no employees in time reported by the 10-Q, except for Paul, that would leave only consulting expenses as a potential labor expense. I would argue that if an expert is being brought in to figure out the correct chemistry for a successful pour, that expense would fall on the JV responsible for the mining operations. If that's not the case, that's okay, but clarification should be given since that was not really what was presented to investors via the PRs.

Equipment and Assets In my opinion, other than permanent structures, any equipment should be provided by the JV. We know this isn't the case because Mexus raised funds for the new Merrill Crowe. Again, this is okay, but does cloud the issue of what is the JV responsible for and what does Mexus provide. As I stated earlier, we are putting a structure up around the new Merrill Crowe so it seems appropriate there would be money spent on that.

Operations Mexus has some fixed operational expenses, website upkeep, legal, pens paper, etc. But the amount spent last quarter seems to exceed any normal operational expenses. I wouldn't think we are paying for the fuel to run the loaders, but again, there is a lot of cash being spent and no clear reasons why or what.

All of this might be justified. But I've not been presented with a logical plausible rationale.

It might come as a big surprise that this poster is not factually correct.

Please let me know where I have not been factually correct. Is there an agreement available for us to view?