Mexus Gold US Announces Santa Elena update and com
Post# of 2057
Posted On: 10/17/2016 10:51:32 AM
Mexus Gold US Announces Santa Elena update and company outlook
Mexus Gold US
Oct 11, 2016 4:06 AM
GlobeNewswire
CARSON CITY, Nev., Oct. 11, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (MXSG) (“Mexus” or the “Company”) President Paul Thompson stated today that the outlook for the company has never been better. The company is nearing production having very little debt which is unheard of in the mining industry. The push towards production with the company’s joint venture partner, MarMar Holdings, continues as scheduled at the Santa Elena mine.
Mr. Marco Martinez, CEO of MarMar, stated that the project will start the gold leaching recovery process with a target of 10,000 tons on the leach pad. In addition, he estimates that the initial leach will yield 1 to 1.5 grams of gold per ton with a recovery rate of 76%. The initial pour has the potential to produce 250oz to 360oz of recovered gold which would result in the joint ventures initial start-up costs for this project being paid off. MarMar’s plans are to gradually increase production with the ultimate goal of reaching 10,000 tons per day within 8 months of the first pour. Added Mexus CEO Paul Thompson, “Mexus will be in a positive cash flow position rather quickly once we produce as anticipated which should ultimately lead to significant returns for our shareholders going forward.”
Mexus Gold US
Oct 11, 2016 4:06 AM
GlobeNewswire
CARSON CITY, Nev., Oct. 11, 2016 (GLOBE NEWSWIRE) -- Mexus Gold US (MXSG) (“Mexus” or the “Company”) President Paul Thompson stated today that the outlook for the company has never been better. The company is nearing production having very little debt which is unheard of in the mining industry. The push towards production with the company’s joint venture partner, MarMar Holdings, continues as scheduled at the Santa Elena mine.
Mr. Marco Martinez, CEO of MarMar, stated that the project will start the gold leaching recovery process with a target of 10,000 tons on the leach pad. In addition, he estimates that the initial leach will yield 1 to 1.5 grams of gold per ton with a recovery rate of 76%. The initial pour has the potential to produce 250oz to 360oz of recovered gold which would result in the joint ventures initial start-up costs for this project being paid off. MarMar’s plans are to gradually increase production with the ultimate goal of reaching 10,000 tons per day within 8 months of the first pour. Added Mexus CEO Paul Thompson, “Mexus will be in a positive cash flow position rather quickly once we produce as anticipated which should ultimately lead to significant returns for our shareholders going forward.”
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