Update on Loan to Mexus to pay off toxic loans
Post# of 2067
(Total Views: 317)
Posted On: 12/09/2019 9:34:19 PM
Ok people, look at Jake's post under the Poll thread, it is the absolute truth IMO. Jake does not lie. Paul is short $30,000 for Friday's payoff, we have pledges of $14,000, need another $16,000 to pay off the convertible that starts converting if Friday's payment isn't met.
You have the latest on production, without the rain, we'd be further along, but that can't be helped. Believe, don't believe it, it is up to you now.
Call Debbie (916) 776-1822 if you can help or email mexusgoldus@gmail.com
Dave
Here's Jake's post:
Re: POLL: helping to payoff loans
Report this post
Quote
Post
by Wxdog » Mon Dec 09, 2019 6:14 pm
Good chat with Paul. October loan is getting near paid off as Power Up dumps their converted shares. The next note is due this Friday and Paul is short ~ $30k. Interest and “all in” for note is somewhere around $66k. So far we have pledges for near half that. With the first note paid in diluted shares it would be nice to cut any further dilution upon defaulting this next one due.
Bright side is the equipment and operations are running very smoothly. The M/C is making another run through til late this evening. Off and on rain again today hampered crushing operations (mud mucks everything up obviously) but should be back at it tomorrow. Cesar is showing grades from 1+ to just short of 2 grams from Lucky Strike source ore. Hells bells, if he could capture even half a gram per ton he’d be well in the money. He should be getting labs back from Hermosillo in the next day or two to confirm Cesar’s findings. Short of these rain spurts (nobody has ever witnessed such unseasonable and ridiculous amounts of rain lately in their life times) things are finally all humming along. These guys are working their tails off and Paul is in sore need of a few more hands...but knows he has to make do here short term with the funding situation. He’s learning little nuances here and there that are (or will soon begin) helping streamline operations. He’s certainly making headway, but like everything else, need money to make money. He is producing gold (no hard and fast details) but won’t have a check before Friday. If any of you can help - please do so! Cheers
You have the latest on production, without the rain, we'd be further along, but that can't be helped. Believe, don't believe it, it is up to you now.
Call Debbie (916) 776-1822 if you can help or email mexusgoldus@gmail.com
Dave
Here's Jake's post:
Re: POLL: helping to payoff loans
Report this post
Quote
Post
by Wxdog » Mon Dec 09, 2019 6:14 pm
Good chat with Paul. October loan is getting near paid off as Power Up dumps their converted shares. The next note is due this Friday and Paul is short ~ $30k. Interest and “all in” for note is somewhere around $66k. So far we have pledges for near half that. With the first note paid in diluted shares it would be nice to cut any further dilution upon defaulting this next one due.
Bright side is the equipment and operations are running very smoothly. The M/C is making another run through til late this evening. Off and on rain again today hampered crushing operations (mud mucks everything up obviously) but should be back at it tomorrow. Cesar is showing grades from 1+ to just short of 2 grams from Lucky Strike source ore. Hells bells, if he could capture even half a gram per ton he’d be well in the money. He should be getting labs back from Hermosillo in the next day or two to confirm Cesar’s findings. Short of these rain spurts (nobody has ever witnessed such unseasonable and ridiculous amounts of rain lately in their life times) things are finally all humming along. These guys are working their tails off and Paul is in sore need of a few more hands...but knows he has to make do here short term with the funding situation. He’s learning little nuances here and there that are (or will soon begin) helping streamline operations. He’s certainly making headway, but like everything else, need money to make money. He is producing gold (no hard and fast details) but won’t have a check before Friday. If any of you can help - please do so! Cheers
(1)
(0)