"Looks like a great deal! I wonder if Paul will now focus on other properties since it seems argonaut will be doing most of the development for the mining at Julio. Sit back and collect 20% seems fine by me. We have other properties that a JV could be great for down the line."
Submitted on 2015/07/16 at 4:00 pm | In reply to arewrong.
Firstly all can simply ignore any Fresnillo mines or even Argonaut’s anyplace at anytime. What’s to replace the missing $4 mil need for development we DID NOT HAVE! will be use of AR’s funds for ALL costs. Plans called for rapid shaft build up and slower veins from surface then heap leach. They’re not stupid folks and if they can’t approach with the same plan with $300K drills by Dec 31st it’s bye bye Mexus, you got it. Seat on the BoD means no possibility of hiding results. Newco should run near the spread sheets HIGH PDF not low and slow. All needed has to be complete end of ’18 with the near Mil cash and $5 mil cost to take their 80%. They had last small underground running large open pit even sooner. 20% at NO cost is pure bottom line revenue to Mexus but profit after expense to AR. Bill Reid used to fully explain the vast difference for mine investments as why Hochschild wanted in GORO as partner. I care less for doing nothing but watch. Make them work all the harder for me to be low as possible all in cost.
I doubt much will be going on with Ures claims until AR tosses in all $950K BUT we’ve still 50% of San Felix until Atzek pays off near $5 mil debt. AR just may have that as an interest if the headache’s worth the asset. They’d be MUCH more difficult to be dealing with.
In all once again what really has been gained is pure cred in a burgeoning area of PM production bigs are elbowing into. Shows tiny Mexus can pull a rabbit least 50% of the time and San Felix might take that to ALL the time and that's damn good batting. 8
Thanks for getting the situation defined. Have to admit after looking at 20% of Profits at $5000 gold I was getting to like the upside on 20% of profits. Great news on Ures.
RickyBobby...well, if in fact we'll get 20% "off the top" of all gold/silver production as per Pdent, I was wrong in my earlier posts about it being a net deal...and....it's wonderful news for all of us, assuming the exploration pans out and option is exercised...
look forward to seeing this officially confirmed in writing....!!
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