Thanks for your post. It’s always appreciated.
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Posted On: 07/21/2019 1:50:23 AM
Thanks for your post. It’s always appreciated.
I based my number of days under leach off of PT’s stating 3 days earlier that cyanide would start on the 27th.
Mexus to begin leaching June 27th at its Santa Elena mine
Press Release
Makes 24 days today. Leaching til July 31 gives them 35 days of continuous leaching. They should have some definitive answers by then on what they can expect to recover, and enough for a pour, in my opinion. And that’s all it is, an opinion.
Unfortunately they didn’t say(or I didn’t see it)how much ore they stacked on the pad, so it’s hard to accurately guess what to expect.
I don’t believe any projections I read on the other I-board, but Simple math dictates that for every 1000 tons of ore on the pad we should see approx. 16 ounces gold based on a very conservative 50% recovery rate using a 1gram per ton assay. (In his Pr, PT said “ The initial material being leached is existing shear zone lower grade material averaging 1.8 g/t gold and 8 g/t silver.”)
Mexus needs enough gold to prove its not only feasible to continue, but also to pay for continued operations. And they have a note coming due on Aug.30th which will require approx. 100K to pay off, as its under pretty much the same terms as the one paid off earlier this year by shareholders. So there is not much wiggle room for mistakes, delays, or breakdowns.
The pps being still under a penny, this close to potential gold recovery, is likely a combination of past failure and the threat of the R/S approval filing, hanging over our heads. It doesn’t generate much confidence for new share buyers.
I based my number of days under leach off of PT’s stating 3 days earlier that cyanide would start on the 27th.
Mexus to begin leaching June 27th at its Santa Elena mine
Press Release
Makes 24 days today. Leaching til July 31 gives them 35 days of continuous leaching. They should have some definitive answers by then on what they can expect to recover, and enough for a pour, in my opinion. And that’s all it is, an opinion.
Unfortunately they didn’t say(or I didn’t see it)how much ore they stacked on the pad, so it’s hard to accurately guess what to expect.
I don’t believe any projections I read on the other I-board, but Simple math dictates that for every 1000 tons of ore on the pad we should see approx. 16 ounces gold based on a very conservative 50% recovery rate using a 1gram per ton assay. (In his Pr, PT said “ The initial material being leached is existing shear zone lower grade material averaging 1.8 g/t gold and 8 g/t silver.”)
Mexus needs enough gold to prove its not only feasible to continue, but also to pay for continued operations. And they have a note coming due on Aug.30th which will require approx. 100K to pay off, as its under pretty much the same terms as the one paid off earlier this year by shareholders. So there is not much wiggle room for mistakes, delays, or breakdowns.
The pps being still under a penny, this close to potential gold recovery, is likely a combination of past failure and the threat of the R/S approval filing, hanging over our heads. It doesn’t generate much confidence for new share buyers.
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