Mexus Gold US (fka MXSG)

[1manband]

Uh, I believe the "confession" was a joke.

OF COURSE there is toxic convertible dumping. But the toxic funder doesn't dump all at once. That would drive the stock to near zero and quickly cut off any buying. Instead, they dumped millions of shares yesterday and today they laid off to let the stock price recover. That is the smart move, as their conversion price is fixed at 65% of the lowest trading price in the last 20 days, so by letting the stock go up a little, they will make MORE money by converting and dumping the day after. And they will not drive away all the potential buyers, all of which need to buy their dumping of shares. Smart, those toxic funders are.

And no one ever said there was no gold. There is gold in everyone's tap water, but just like Mexus' properties, it is not economical to produce.

Sure, the hobby miner is producing a little gold. That is easy to do if you don't care about costs, and clearly PT does not. The odds of Mexus producing a single ounce of gold at a profit is pretty much zero. And the chances of them producing enough gold at a profit to turn the company around, meet their current and past due obligations, AND pay off the toxic convertible notes IS ZERO.

Mexus is doomed.