Replies to post #23924 on Mexus Gold US (MXSG)

[gitreal]

It's a slippery slope...once a convertible note is issued, the temptation is to do it again, and again.

Even if Santa Elena starts kicking out gold....it will be a long while before MarMar gets repaid for their costs, and Mexus gets anything more than 5%. What does Mexus do in the meantime to pay bills? If they continue to spend money at the rate they've been going at, that money has to come from somewhere. And convertible notes are awful tempting.

Of course, that brings up another issue....nobody knows what MarMar's actual costs have been, or whether Mexus has actually been funding everything behind the scenes all along. $750K consulting and admin expenses per quarter seem mighty high for a company whose JV partner is supposedly paying for operations.