Monday, June 21, 2021 3:35:31 PM
Mexus ships to the refiner carbon filters with the following estimated assay amounts;
Gold - 5oz & Silver 10oz.
Mexus would receive an upfront payment of 90% of those assay values.
Gold 5 oz @ $2000 = $10,000 - Will be paid 90% or $9,000
Silver 10 oz @ $25 oz = $250 - Will be paid 90% or $225
Total paid up front will be $9,225. I thnk we all agree on that part. Where we diverge is the following. If final payment is being made on assay amount, then once the refiner confirms the assays are accurate, they would cut a check to Mexus for the following;
Gold - 7% of $10,000 = $700 (For an all in amount of $9,700 for gold)
Silver - 5% of $250 = $12.50 (For an all in amount of $237.50 for silver)
I don't see how the refiner makes any money paying out 97% of the assayed amount. The assayed material in the carbon filter is no where near .999 purity. I don't think it is anywhere close to .900 purity. For that reason alone, I would be certain the refiner is paying the 97% and 95% amount on the amount (weight) of sellable gold and silver refined. Not assayed amount.
I don't know what 5 oz of assayed gold means in terms of actual sellable gold, but I would imagine there would be at least a 10% decrease in the amount of assayed weight and .999 sellable weight.
That's a large reason why I struggle with the credibility of this PR.
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