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Posted On: 03/15/2021 1:44:15 PM
Post# of 2062
Well looks like the proverbial can has been kicked down the road for another month or so while “new” high grade ore is loaded on the pad and leached.
Good news that they finally got a blasting permit. Bad news is that the process should never have been allowed to slow operations in the first place. It doesn’t happen if a company has a proper mining plan in place. Successful miners plan for those events well in advance. Longer during a pandemic.
Not so much when you are jumping from one area to the next instead of going straight for the best high grade stuff right at the outset.
Has anyone figured out yet why Mexus didn’t just mine the most promising area of the claims at the start of mining many years ago? Imagine a mining company starting with the richest area of their claims first, becoming profitable by selling the the most abundant gold and expanding outwards at maximum profits towards the less rich ore. Seems like good business sense to me.
Instead Mexus had to issue billions of what became pretty much worthless shares, because of taking out numerous toxic loans, partnering up with a supposedly Billionaire owned , experienced JV mining outfit who was supposed to cover the mining costs.
Then as it turned out , the JV partner was not well funded, nor were they experienced, and Mexus still had to pay for mining costs. After all of that and , to this day, they still fail repeatedly to produce any significant amounts of gold from jumping around to different areas of the claims.
Easier to blame covid and JV partners, I guess.
Why anyone expects it to be any different this time is a mystery to me.
Fiscally irresponsible CEO who in my opinion should sell the company to the first bidder, If he can find anyone remotely interested.
What happens if they still can’t recover any significant amount of gold from the highly touted high grade Julio vein? What will be the excuse then?
Good news that they finally got a blasting permit. Bad news is that the process should never have been allowed to slow operations in the first place. It doesn’t happen if a company has a proper mining plan in place. Successful miners plan for those events well in advance. Longer during a pandemic.
Not so much when you are jumping from one area to the next instead of going straight for the best high grade stuff right at the outset.
Has anyone figured out yet why Mexus didn’t just mine the most promising area of the claims at the start of mining many years ago? Imagine a mining company starting with the richest area of their claims first, becoming profitable by selling the the most abundant gold and expanding outwards at maximum profits towards the less rich ore. Seems like good business sense to me.
Instead Mexus had to issue billions of what became pretty much worthless shares, because of taking out numerous toxic loans, partnering up with a supposedly Billionaire owned , experienced JV mining outfit who was supposed to cover the mining costs.
Then as it turned out , the JV partner was not well funded, nor were they experienced, and Mexus still had to pay for mining costs. After all of that and , to this day, they still fail repeatedly to produce any significant amounts of gold from jumping around to different areas of the claims.
Easier to blame covid and JV partners, I guess.
Why anyone expects it to be any different this time is a mystery to me.
Fiscally irresponsible CEO who in my opinion should sell the company to the first bidder, If he can find anyone remotely interested.
What happens if they still can’t recover any significant amount of gold from the highly touted high grade Julio vein? What will be the excuse then?
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