Mexus Gold US (MXSG)

[T-Hawk]

Perhaps due the statement also made they needed $45 million for Magino project in '16. THAT was where $825 POG needed NOT Elena if you can read the PR and DECIPHER the code. Also immediately sold off a working Sonora gold mine for cash. Really don't know any of the background for leaving JV? Rather odd to learn 3 years along . Even POG $1060 and rising/falling again has NOT been GOOD TIMES in the small gold miner patch.

Why did you bring up Magino and $825 cost if it doesn't have anything to do with Mexus and Argo?

Let's stick to Argo and Mexus. Did or did not Mexus state Argo backed out of Elena because of uncertainty about the price of gold?

I'll answer this one for you:

Mexus Gold US Assay Results and Determination from Argonaut
CARSON CITY, Nev., December 4th, 2015 (GLOBE NEWSWIRE)
...Argonaut explained that the uncertainty with the price of gold is challenging exploration budgets... ...They also added that in better economic times the company would have exercised the JV option.

Now back to my original question. If Argo backed out in 2015 because of concerns Elena was not economically viable (POG was around $1,040 at that time) why have they not shown a renewed interest in the project now that gold has held above the $1,200 level and expected to rise?

Was there a price point Argo determined Elena to be profitable?

What some seem to be overlooking is Mexus has already had one "reputable" company perform the drilling data it needs to determine feasibility. That company determined it wasn't feasible and walked away. Supporters are arguing it was because of a decreasing price of gold. That may have been the case, but if so, why is Argo not looking at coming back now that those economic factors have improved?

Now Mexus is trying to convince shareholders that proper drilling data doesn't exist so they are initiating a drilling program from a reputable company that will prove feasibility.

Given the already established drilling results from Argo, the likelihood the new drilling program will establish feasibility is minimal.