Mining companies typically fall into 1 of 3 categories;
Explorer – Looking at geographic areas that present a high probability of having high enough levels of minerals/ore that can be recovered in a profitable manner. Doing drilling and other studies on the area to establish potential profitability.
Developer – Building out a mine on an explored piece of land that has been deemed likely to able to be mined profitably.
Producer – In production with sellable product being produced and sold on a consistent basis
Operations showing the amount of loss for the length of time Mexus has typically fall into one of the 1st two categories. At this point those companies would have data either proving or disproving proof of concept and would know if they are throwing good money after bad, or if there is a pot of gold at the end of the rainbow (bad pun intended).
Mexus has none of that information to show for all their money spent thus far. (Yes they have a drilling study, but that was paid for by Argo, not Mexus).
Granted, Mexus has been honest in that they are not approaching mining in the traditional sense of doing all the exploratory work because of its confidence in the claims based on minable levels proven in surrounding properties. But that hasn’t happened. So now what?
Now Mexus finds itself in the spot where it has spent as much money as traditional mines would have in exploratory work, however, it has produced only a negligible amount of product. This is the time that all that prep work would have paid off and investors could, at minimum, take comfort that the previous money was not wasted, but an investment because it provided knowledge to the operations to help it mine profitably.
So yes, other mines do show losses on their way to production, but those losses typically provide information to company on how to get to profitable production. Mexus’ losses have not provided the company with any information it can use to build out a successful mine. So they go back to square one and hope and a pray that it might get lucky next time.
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