Really odd. Same day Mexus demonstrates SEC Test Mining Rule exception by carefully NOT hiding a dang thing but expensing all Qtr small $76K sales revenue against exploration costs
"For the year ended March 31, 2020, the Company had recoveries from the sale of gold of $76,287 compared to $0 for the year ended March 31, 2019. Sales of gold are reported as a reduction of exploration expense in the consolidated statement of operations since the Company is in the exploration stage."
someone also reveals exactly why Mexus will be so successful miniing St Elena. Extreme low cost where gold is proven abundant not at all rare. Ask any been there to check that obvious fact out gold is found all over the 2.5 sq miles, surface to depths tested all last century known well in Caborca. Fair large error tho is fact the 3 month avg product cost was PR posted $376 not $450. Got any factual disproof or just more poor unexpert opining? $1624 profit? BRING IT ON!
Keep up the proofs by Wed in next 3 month low cost production AUDITED BTW 10Q. We poor large accumulators just LOVE IT!
"Gold is not rare, and is easy to find and not particularly difficult to produce.
Instead, what I said is that Mexus would never produce and sell gold AT A PROFIT. That is the difficult part, and is why gold is over $2000 an ounce.
And, so far, I am still correct about that.
Mexus' production is not profitable, and the claims of $450 an ounce cash cost are ridiculously wrong".
"CABORCA, Mexico, March 23rd, 2020 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade ...
May 26th
For the last 3 months the company has been able to operate and expand using gold sales only and without taking on further debt. The infrastructure at Mexus’ Santa Elena mine is valued at over $10,000,000. The company has and will continue to produce gold for years to come."
With a long test mining drill progran proven resource the $10 mil switches to ASSET! Book keep goes pure upside down. Proper way to eval ANY explorer as any real pro knows.
