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Posted On: 03/23/2020 9:08:45 AM
Post# of 2062
NEWS March 23, 2020 3:01 AM. Mexus announces operating costs lower than expected and confirms positive cash flow obtained
CABORCA, Mexico, March 23, 2020 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade of mineralized material which brings the net cost down. The crew at the mine is gaining experience every day and taking expansion one step at a time. With a tightly controlled operation the company expects to be producing 10 oz. of gold per day within 60 days. Mexus is now operating at a positive cash flow which has been a long-standing goal of the company.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Mexus Gold US (775) 721-9960
Cautionary Statement
Read More: https://investorshangout.com/recentnews/MXSG#ixzz6HW82kQWa
CABORCA, Mexico, March 23, 2020 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB: MXSG) (“Mexus” or the “Company) announced that it is producing gold at a cost of $376 per oz. of gold. This figure is well under the $437 per oz. estimated in November 2019. The reduced production cost is a result of Mexus adding an activated carbon recovery system along with an electrowinning gold recovery plant. In addition, the company is mining a higher grade of mineralized material which brings the net cost down. The crew at the mine is gaining experience every day and taking expansion one step at a time. With a tightly controlled operation the company expects to be producing 10 oz. of gold per day within 60 days. Mexus is now operating at a positive cash flow which has been a long-standing goal of the company.
About Mexus Gold US
Mexus Gold US is an American based mining company with holdings in Mexico. The fully owned Santa Elena mine is located 54km NW of Caborca, Mexico. Mexus also owns rights to the Ures property located 80km N of Hermosillo, Mexico. This property contains 6900 acres and has both gold and copper on the property. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Mexus Gold US (775) 721-9960
Cautionary Statement
Read More: https://investorshangout.com/recentnews/MXSG#ixzz6HW82kQWa
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