Correct placer grade was .042 oz/ton and worked up from 2400 month to year later 9300 on fast track. Be about 142 tons to do 6 oz daily. 12 2 ton scoops an hr 12 hr shift or every 5 min in hopper.
As to what it takes for a small miner to GAIN a whole .58 cent over 4 days ?
Blithering dumb idiots to shut up and let the CEO do what’s needed while pouring out more pure info than any other possible sub-3 cent share at next to zero cost to their dumb wallets… free gratis. But they blather on. Real Oompa lumpas.
Placer PR hit Kitco at noon. Good timing on market reopening . Rub sleep out of eyes and trade some.
http://globenewswire.com/news-release/2015/02/17/706872/10120476/en/Mexus-Gold-US-Placer-Operation-Update.html
Initial set up Sept 2011 visit Tom and I saw the old, really dusty, trommel rotating tube wash plant hooked up to old generator as initial production. Good well had been drilled since Rancho contracted in March and sufficient for both mill later set in place and vibrating screen wash plant installed for doing more with less mess. All centered on the 2 small concrete farm ponds long in place used at no cost. Constant need for sand clean out and sand pump use to clean wash water both mill and screen.
Basis is the really enormous alluvial quartz stockwork zone in lower valley while not high grade per ton is ALL in 92% pure gold nugget and fine powder like instant cash in hand. If that was the sole resource many miners would simply grow it huge and run for years on smaller profits costing $1K daily. But Mexus has much greater resources just a bit more up the valley running kilometers SW to NE to heights of property boundary and buried there to undrilled depths. All means there’s now a near endless trickle of operating cash again daily of some $5-8K to pay the bills and we’ve managed it still on the 75-25 Mexus/Family split our cash and their efforts. Original agreement was 55-45% before decision to expand and relocate. It’s hard to find the figures but are my best recall. Onward and upward applies.
Reply:
San Felix did no placer with large silver poured from a much larger % dissemination in the blasted low assay vein ore crushed and leached. Stockwork zone ore has the silver contained as the 8% impurities of base metals and silver near oxidized all away over the eons near surface flowing down from veins and shallow fault shear zone. Easy enough to extract near 100% with simple wash and gravity spin black sand. Reason much as you want comes at less than an oz gold cost so labor of a dedicated crew is the real cost. Added labor and lesser extraction of leach and M/C process allow them to simply keep dumping placer dirt and rock in the chute for great purity at small total fee. Was no good reason to pay for it set up anew until it became necessary and got done REALLY rapidly mine life wise from mostly right here. It will be test shaken down as a new screen needing tweeking for water flow, ore loading and shaking mvts with collection baffles etc. Initial PM recovery done during crew off time will get that all done and then keep pouring in the dirt until shut down for clean out shift after shift . 8
Great news on the placer, saw it posted early this AM. Next significant news should be who the underground miner will be or the acquisition of the blasting permit. If the numbers hold up should be pretty nice, about 200K after expenses. Not sure if silver will be a significant enough number here to account for, I remember at San Felix we had some decent silver pickup at about 18 GPT.
I sit here stunned and stupified, EA. Just have to tell someone, and I know you will understand. Today my brother in law decided, after 15 yrs of my managing his IRA rollover, that it was time for him to take charge of it.
Today he sold all the gold stocks in the portfolio at rock bottom, including dumping 225,000 shares of MXSG at .022 or so. Not a phone call to inquire or tell me what he was going to do, just an email after the fact.
He put the whole portfolio into the general stock market at all time highs, when I was thinking of reducing his exposure to the general market to 50% or so. Kind of the reverse of buy low and sell high.
I wish him the best, but approaching age 60, what is going to happen when the market tops out and he loses 30-40% of his money?
Makes me feel like a fool for all the time I spent building his account. I remember back in about 2006, talking his wife out of cashing the account out with penalties and interest, so she could invest in real estate, right before the housing crash.
Oh well, lead them to water …
Well, about time the $5K sold hits $2K in the 6 year bull final market parabola bust out I’d expect 1/4 mil to be showing $50K over .20 again and POG off again on own bull. Strongest gold market correlation is weak heart to weak mind. Over 15 years annual contribs? Mexus might total 1 year at $5k min and perhaps 4 years max PPS under .10 averaged down for best future gain. About like jumping off a decent life raft nearing shore onto a burning ship heading out shouting, “Safe at last!” Sure aint been boring holes in you over holiday turkeys for losing all his retirement money? Might remind her subprime means less than perfect but opposite is unskilled or worthless. Date it and mail after the swing. Take some Mexus profits soon and panel the basement!8
https://www.youtube.com/watch?v=YzkBhfbwRkg
Terribly hard to manage accts for family, commend you for trying but as you say, “lead them to water … “
Mentioned it before but kids are asking me to help set up a SEP IRA for each needing a much bigger self employed deduction from PM investments financed their brokerage really taking off after all the problems but looming again. Texas tho is due Obama avoidance after W into Perry’s smart biz moves. I’d had one for Dorly and withdrew $200K into Mexus PP’s since she’s 70. Told them is now time for a good USAA financial advisor to set all up correctly. I assume I actually just lucked it all out at the best time. But did manage to ride the $5 Bbl 80’s oil slump into ’90s booming well services and ignore dot.coms 90’s to invest that gain into 2001 POG. Seemed to work out OK long term but cause of serious short term angst to simply ride out and buy down. 8
Agree fully with your thoughts. For me, it was about giving back to the family, something my mother did every day of her life. When I left paid employment in 2000, I decided to dedicate a portion of my time to helping the family.
It’s all good, I did my job and I’m proud of helping them. Just time for some to go a different direction. It happens.
Now, I’m rededicating myself to the task at hand, insuring my family’s future with investments in MXSG and others.
Unfortunate happens, but a true shame when that becomes what bright people feed upon and swing to a profit. Low hanging fruit you need not even dismount to enjoy. 1st time in Savings and Loans 80’s I felt was unusual. Since I realize is just the way hot markets work to failure. Best get out of the sand box and just watch the kiddos play on.