I estimated about $200,000 per week net so same b
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Posted On: 03/26/2019 12:07:19 PM
I estimated about $200,000 per week net so same ballpark and it's best to be very conservative on recovery percentage, price of gold, production costs. There's always some "X" factor that for a startup is more likely to be an increased cost. $900,000 per month for an operating mine is probably just at their burn rate plus the new operating costs since the burn rate for doing nothing with Mexus has run high for years.
Evidence of substantial new funding for the equipment purchases or rehab and work done so far. We will learn the source and terms of that funding in the next filing. Also needed is a big very healthy reserve of cash to carry them thru the restart We're still many weeks from a pour.
I even hesitate to use the word "pour" - that is almost a jinx to talk about one till we know it's happened and safer to wait for the third pour to know we've got it right Late May I'd estimate. June would be a safer bet. I'm a little jaded, yes. All prior talk of month or quarter for revenue has been a bad guess.
Hope they are doing column testing -very basic but apparently not done in the past at any site. Column test is a small scale leach and recovery to test and adjust and tweak the chemistry.
Buying a blast drill seems to say Mexus plans to do the blast prep in-house - I assume will still contract for the actual blast. They do seem to setting up for a long haul operation in Go-It-Alone manner by investing in a blast drill and the front end loader. Will take all that as a good sign.
They will have to increase the rate of ore loading considerably to get to any significant positive cash flow and I doubt the 4 grams/ton is a grade they will realize long term. We have not seen assay data that strong and aren't we are overdue to see the 3-D plot and more assay data?
Never pays to get too giddy but signs are positive with the Monday Press Release. Don't kid yourself - still a speculative play like any penny mining stock with a billion shares outstanding.
Go Paul Go! He is a good guy and both he and we deserve some success this go 'round.
MXSG quote 0.0125 12 noon Eastern Tuesday 3 26 19 only 87K shares traded.
Evidence of substantial new funding for the equipment purchases or rehab and work done so far. We will learn the source and terms of that funding in the next filing. Also needed is a big very healthy reserve of cash to carry them thru the restart We're still many weeks from a pour.
I even hesitate to use the word "pour" - that is almost a jinx to talk about one till we know it's happened and safer to wait for the third pour to know we've got it right Late May I'd estimate. June would be a safer bet. I'm a little jaded, yes. All prior talk of month or quarter for revenue has been a bad guess.
Hope they are doing column testing -very basic but apparently not done in the past at any site. Column test is a small scale leach and recovery to test and adjust and tweak the chemistry.
Buying a blast drill seems to say Mexus plans to do the blast prep in-house - I assume will still contract for the actual blast. They do seem to setting up for a long haul operation in Go-It-Alone manner by investing in a blast drill and the front end loader. Will take all that as a good sign.
They will have to increase the rate of ore loading considerably to get to any significant positive cash flow and I doubt the 4 grams/ton is a grade they will realize long term. We have not seen assay data that strong and aren't we are overdue to see the 3-D plot and more assay data?
Never pays to get too giddy but signs are positive with the Monday Press Release. Don't kid yourself - still a speculative play like any penny mining stock with a billion shares outstanding.
Go Paul Go! He is a good guy and both he and we deserve some success this go 'round.
MXSG quote 0.0125 12 noon Eastern Tuesday 3 26 19 only 87K shares traded.
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