Kinda odd but seem as if they are totally oblivious to anything involving them in the entire year old process. Neither information nor denial of involvement PR to shareholders meeting like normal corp annual in April. Appearance of Cat’s Paw by related parties in both. But ya gots me! Worst case, 25th we get 50% San Felix back with what’s said to be busy year working up resource. Entirely possible we don’t really want the non trading shares at all at .03 half price written down at .06 whole last Mar.
Decision to use same 4 year old area to reconfigure placer should be non limiting to increased output. With no more immediate plan to apply for leach ponds and recover or drill for open pit resource defining, Julio 2 with the explosive permit is as far as mine expanding can go or really needs to. When the underground is in operation then next step is to R-C drill the veins using cash flow from the shaft. That info will incorporate into the overall resource plan then to include the pads and MC plant. So all can proceed slower stepwise but for me? Be nice to get a $4 mil check instead and get giant steps ahead.
They expect to triple output with improvements making the changes worthwhile. That’s from 1-2 oz to 3-6. If it hits 5 oz with 1K expenses is 5K profit. Mexus 75% is $3750. Family is $1250.
I saw the 2 spreadsheets on last May 3rd visit and they were by one miner which did not continue on to a bid but sample work ups on possibles. Was the very point where decision was made to go on to placer alone not part of a JV so of totally no interest to either Canadian miner or next Fresnillo. Then to speed up decided to simply move in same use area which will never even involve a JV and that proved wise with events since. Original plan called for move to new use area with leach and recovery ponds paid by a JV buy in.
If a shaft JV is signed to then that may work up similar to the schedules shown. So for placer? use what he has said and just believe it. 5-6 oz a day and we get 75%after cost. Now also assume is bookkeeping only and ALL profit goes directly in development of entire Rancho project which brings them much more quickly when other areas producing. $2 mil at $1250 daily takes 4.384 years. Just about total time it’s taken thus far since Jan ’11.
“On January 5, 2011, the Company entered into a Mineral Exploration, Exploitation and Mining Concession Purchase Agreement for two mining properties (i) Julio II (ii) Martha Elena located in the municipality of Caborca, Sonora, Mexico. The purchase price of these rights are (a) $50,000 cash (b) 1,000,000 shares of common stock of Mexus Gold US (c) $2,000,000 paid at a rate of 40% net smelter royalty”