Mexus Gold US (MXSG)

[T-Hawk]

Can someone explain why they are trying to get the Ures mine up and running when they have so little cash? Are they still working Santa Elena, or is that shut down due to an environmental problem?

Great question. The company would be well served to provide investors with a strategic plan. The previous consensus was that PT was moving on to Ures because MarMar had the Elena operations under control other than some tweaking on the extraction/refinement process. That was obviously not the case.

Previous PR's are trying to sell it as Ures will be a quick start-up with immediate results. If that were really the case, then I would have thought the company would have started there from the beginning to get some cash flowing then build/start up Elena.

Also, we don't have clear info on the status of San Felix. Supposedly the JV prior to MarMar was producing gold from that mine, but stealing most of it. If it truly is/was a producing gold mine why would you not get that restarted first?

Adding to the Felix confusion, I believe MarMar was co-owner of the property with Mexus. (Speculations was MarMar made the initial payment towards the Felix re-purchase after Mexus won the lawsuit) Not sure what MarMar's ownership standing is now that the JV has dissolved. Not to mention there was 2nd payment that was supposed to be made many months ago but Mexus did not have the cash on hand to make payment and nothing was ever reported regarding the restructuring of repayment terms.

To your main question, what would seem to make the most sense is for Mexus pick one project, and make a targeted effort on that project before starting another. Ideally they should start with the project closest to providing positive cash flow.