Replying since my last post "mysteriously" disappeared.
1) Regardless if the contract with MarMar was terminated after the 3/19 PR, do you truly believe or even think that MXSG didn't know it wasn't going to terminate said contract long before 3/19?? Think about it. What single event would've made the light bulb turn on and suddenly say, "They haven't been paying their fare share! Time to terminate!". It just doesn't work like that. You know that. I know that. Even all the diehards who refuse to face reality know that.
MXSG knew long before March and I suspect long before December. They just did.
2) That's the biggest question and mystery of all. What really is going on at Santa Elena? PT stated in December's PR that they were looking for security, and then again repeats the same line in the most recent PR. It's truly baffling and bizarre. Moreover, lets not forget; the reason given for the 8oz pour in February wasn't because MarMar wasn't meeting it's contractual obligations, but rather there were problems with the "chemical process".
How isn't that misleading shareholders at best and straight out lying to us at worse? Go back and read the PR's. It's all right there. And so yes, I'm left wondering the same thing you and most of us are wondering; what is the true status of Santa Elena? 8 where are you?
3) I ask you at this point; is this an important question? Does it change things?
4) You must ask yourself, who at this point would partner up with MXSG? Either the JV w/MarMar was a front as gitreal has suggested, or MarMar saw things that dissuaded them from investing into Santa Elena. Or they simply could've been inept.
Also, it takes a significant amount of time to vet a JV partner. These things don't happen in a few months. Moreover, I highly suspect a quick look at MXSG's financials and unproven production of gold would dissuade most from a partnership. More likely would be a buyout.
Finally, yes we deserve transparency but I have never seen it in all the years I've been invested in this stock. And time is running out fairly quickly. It's quite likely at this point that MXSG is nearing insolvency. Of this I have no doubt. There is no way I can think of that MXSG can raise further funding w/o dilution, unless they liquidate assets. Honestly at this point the smartest move might be to sell off/close the smaller mines and focus on Santa Elena. That's what should've been done in the first place.
Instead MXSG tried to spread it's wings far too soon.
In the end what is your gut telling you? My gut has been unsettled for some months, but this PR puts the nail in the coffin for me. The odds are not good. Management seems out of its depth. And transparency may as well be non-existent. I hope you get the answers to your questions but I seriously doubt it.
