Geo, they have the most obvious high grade deposit in the world. Those surface outcroppings used to contain multi-kilogram gold per mt at surface, one of the most encouraging signs in human history. This is a tier 1 gold property that should have been mined a hundred years ago but wasn't because it was family controlled. There has been no modern mining except for some surface work, small scale UG, and placer over the years. The whole area is known for large, high purity nuggets that have been metal detected and mined for decades. It appears most of the 26 km is mineralized at a grade many times their neighbours, making them an obvious JV/ development target. They have a shaft 50-100 ft deep with 1-6.5 ounces/t and I know from my research that not even 10 years ago the Julio shaft was producing gold at 20/oz per tonne. They also have 500k oz of au of about 1.5 g/t contained in a microscopic spec of their property open in all directions and at depth. It is not a stretch to say they have a couple million oz of high grade, near surface, oxide, open pitable,low strip ratio oz with the potential for easily 10-100x this amount or more. All of this information is publicly available from geological reports, SEC filings, PRs, and a little logical inference and DD on the area and property.
It is quite unfortunate the website is offline. Terrible timing. I did not save the geo reports otherwise I'd upload them but needless to say there is proof beyond the shadow of a doubt they have at least a few years production at grades well above anyone else nearby. And that is with Argo spending zero and just using known information, more drilling and development will lead to more resources being outlined. If they drill they will hit high grade gold and Argo will advance its development timeline. Mexus released some production estimates produced with help by another mining company and the results showed a very easy, very profitable 100k leech project easily scaled towards 2-500koz/year.
"Mexus will begin preparations for begin open pit mining operations with a ... target grade of 1.5 grams per ton average. A report prepared by Cesar Lemos, geologist, indicates that a potential of a reserve of 3.5 million tons with little overburden (basically exposed at the surface). There is also an adjacent shear zone identified by drilling, service sampling and geophysical surveys which now leads Mexus to conclude that we have sufficient data to proceed with further evaluation and production testing of the shear zone." -early 2013. Outlined resource is much larger now.
"CARSON CITY, Nev., July 13, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) announced today that after months of negotiating with several mining companies an agreement has been reached. President Paul Thompson is proud to announce that Mexus has signed an option/joint venture agreement with Minera Real del Oro S.A. de C.V., a Mexican corporation, which is wholly owned by Argonaut Gold Inc. (TSE:AR). Argonaut has the knowledge and experience along with the necessary capital to plan, drill, and bring the Julio/Martha Elena project into production. Mexus believes that Argonaut is the best fit for this project. Mr. Thompson added, “For approximately three years, Mexus performed geology, mapping, and exploration work on the property along with limited drilling. Within the property there are extensive vein systems and evidence for several large flat-lying shear zones believed to be related to thrust faulting. Work by Mexus have confirmed that both the veins and shears host multi-gram per tonne gold and silver values. Mexus has drill results which show a high grade, multi vein system throughout the property. Multiple target areas have been identified on the property and Argonaut is currently conducting geologic mapping and sampling in anticipation of an aggressive drill program over the next several months. Adequate work was completed for Mexus to realize that this project was too big for us and needed an experienced mining company such as Argonaut Gold. We are excited about the partnership and look forward to seeing Argonaut drill and ultimately bring this property to production.” - See more at: http://globenewswire.com/news-release/2015/07/13/751556/0/en/Mexus-Gold-US-Signs-Option-Joint-Venture-Agreement.html?parent=710383#sthash.ZwXZ2iA8.dpuf";
The terms of the deal is 5 M in expenditures and a million to Mexus in tiers due in 3 years earns Argo 80% of the property while being responsible for 100% of the costs. Mexus receives 20% gross revenues and they got around 75-100k on signing with more coming. That they had 2 grand months ago is completely and 100% irrelevant ATM, although I give you props for at least looking at that data because 99% of people don't.
As for your other questions since Mexus is getting a million dollars from Argonaut in stages that should enough for the company to survive until production and severely limit dilution and put their geologist to work on their other high grade properties.
"Mexus now plans to precede with the development of the Ocho Hermanos-Guadalupe De Ures concessions. This property lies 80km NE of Hermosillo, Sonora, Mexico and consists of approximately 3500 hectares. Within this property sits 9 mining concessions. The first target for exploration is the El Scorpio. The El Scorpio was initially studied by Elias Felix Badilla, a professor at the University of Sonora State, and his father. Elias Felix’s father was a prospector with a keen ability to find mine prospects. In his hunt for gold he found a remote small outcropping and ultimately spent several days digging it out and uncovering it. Samples were taken and assayed showing 1 to 2 ¼ grams gold per ton. At that time, he was looking for 1 ounce gold per ton. Ultimately, and most importantly, the outcropping was shown to contain high grade copper with 9.3% copper per ton in addition to containing 1.5 grams per ton gold and 41 grams per ton silver. Mexus, using a 330 CAT, uncovered this out cropping and discovered it was much larger than first thought. Mexus did a small amount of tri cone drilling to 60ft with similar assay results previously mentioned. Lying in a bowl shaped area and surrounded by mountains there are some that have called the El Scorpio a porphyry deposit. Adjacent to the North and South of the uncovered copper, Mexus has discovered old workings with gold, silver, and galena. The company has hired Geologist Cesar Lemas to begin a geology and mapping report that can be used to present this property to other mining companies. His results will be released as they become available. - See more at: http://globenewswire.com/news-release/2015/07/20/753361/0/en/Mexus-Gold-US-Announces-Business-Plan.html?parent=710383#sthash.4tm0nzwz.dpuf";
This property has the same general idea as the Julio. So if the majors mine .4% copper would they not be interested in 10% with huge gold and silver credits? Of course, just needs more drilling and discovery work to enlarge the size and make it interesting.
If this it going up 20-100 times or whatever, why are insiders not buying?
There is only one real insider and he has more to gain than anyone else. Paul Thompson has about 100M shares and all of the voting power. He is a proven honest businessman that does not even take a salary! He has even sold his own shares to personally fund the project at no cost to shareholders. If you know of even one other CEO like that let me know. Closest I know of is Robert McEwen.
The entire industry could learn much from Paul's example.
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