Replies to post #116497 on MMEX Resources Corp (MMEX)

[jmjjw]

MMEX-scam, via the skeevy grifter, Mad J., made this ridiculous claim more than a year ago.

It is fraught with problems.

The facility MMEX-scam proposes could not generate any directly marketable products; ATB, AGO, and LGO have no direct market use - all must be further processed in a real refinery.

All three intermediate streams would have sulphur levels exceeding USEPA thresholds, and as such, pose problems for storage, transportation, and use in any direct application.

ATB, sometimes called “resid,” or “bottoms,” is viscous, and requires specialized handling - heated storage, heated racking and transport.

AGO, sometimes called “straight run diesel” technically isn’t “diesel.” It requirers desulphurization - no distributor could store, or transport it without a specialized infrastructure investment, and it represents margin loss, due to incomplete fractioning - MMEX-scam would be throwing away money for every barrel produced.

LGO, sometimes called “naphtha” has similar problems.

Those are the technical issues.

The business issues are equally onerous.

An “agreement” is not material - there are no 8-K filings describing material contracts for off-take.

MMEX-scam has no business operations, and thus cannot produce anything. In turn, no valid off-take contract could be formed, because MMEX-scam lacks the contractual capacity known as the ability to perform.

All the B.S. in the world, from Mad J., third-party promotors, etc. fails to change any of the aforementioned facts.

"Mad J. says..." is the weakest of arguments for anything.

Hanks: "Offtake agreements are in negotiation or in place for 100 percent of the distillation unit's output, he said."