Re: FPS  50%  San Felix  JV?

Matter has now  progressed since  failure  to pay on Mar 24. Seems  to not  have been to  point  where it can be  disclosed  but I venture if  they have anything  worth $4 to 5  mil? Mexus owns  it and is looking  to take possession.  All I can refer to is US Gold  repossessed Tonkin Springs  4  times   before  Rob took it all for  cash in 2005 and has NEVER even been operating  since. Called Iron Clad  contracts .  Included  $35 million spent on plant  construction by Orex in  mid  90’s, millions more  in explore  by  an  Agnico Eagle  division in early  2000’s and BacTech before  last  effort  by Dianne Garrett failed to attract  funds needed before  deadline  was up and  McEwen tossed one  in over  the  transom.  Life  goes on hey!

 

 

“CARSON CITY, Nev., April 7, 2015 (GLOBE NEWSWIRE) — Mexus Gold US (OTCQB:MXSG) (“Mexus” or the “Company”) confirmed today that the terms of the signed contract between First Pursuit Silver de Mexico S. de R.L. de C.V. (FPV) and Mexus have not been met. The company is reviewing all options with legal counsel and will update shareholders as the matter progresses. ” – See more at: http://globenewswire.com/news-release/2015/04/07/722074/10127837/en/Mexus-Gold-US-Company-Update.html#sthash.262c4oGh.dpuf

 

 

 

Way to go Belgie. No reason  Louts should be  able  to post lies and  total nonsense  for years on end  with nobody  asking  even why?  Errors  and omissions in attempts to search out  knowledge  are one  thing  but   pure attack  costs  shareholder’s  money   and  should be held  to task.   Talk of  get off the pot? Has been full of stinky   crap  with zero positive  findings all the  time past.  I’d  say  best  shot  has been spelling narcissist correctly   by someone who has “buried his true self-expression in response to early injuries”.  Now  try asking  HMS Great  White  and  rest  to  actually say something  about Mexus, not  simply  against Paul or  other  least fairly  positive  speakers.  May not  even be  easy but  can be done.  The  result is  unfairness  and  seen all over  message  boards.  I believe  will eventually cause  them  to go out of  business unless  corrected  in time.  Dumped  the  RB  spam but  kept  the lies   so not  even 50% to good.

Since the  agreement  with  FPS was  reported on  SEC filings  we’d best  assume  it  was  a legal contract  for total  $5 million secured by  50%  security in  the  JV.  Never lie to Ma  SEC! Ask Martha.

“8K: Mar  28 2014

Item 1.01　 　Entry into a Material Definitive Agreement.

On March 24, 2014, Mexus Gold US and Mexus Gold Mining S.A. de C.V. entered in to an agreement with First Pursuit Silver de Mexico S. De R.L. De C.V. (“FPV”) whereby Mexus Gold US and Mexus Gold Mining S.A. de C.V. sold 100% of its interest in Mexus Enterprises S.A. de C.V.　　Mexus Enterprises S.A. de C.V. is the company’s operating entity in Mexico which owned and operated the San Felix Project (“Project”).

The total purchase price is $5,000,000 to be paid as follows:　　FPV will assume $468,000 of debt; $200,000 in cash to be paid to a creditor of Mexus Gold Mining S.A. de C.V.; $332,000 in shares of common stock of Silver Pursuit Resources Limited valued at $0.20 per share; and $4,000,000 to be paid in cash no later than March 24, 2015.　　Mexus will continue to hold a 50% security interest in the Project until such time as the full purchase price is paid by FPV.

The agreement includes a full release of Mexus and its affiliates from all potential claims and liabilities related to the Project its former joint venture partners and allows Mexus to retain possession of all machinery located at the Project.”

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.”

 

	Mexus Gold US
/s/	Paul D. Thompson_________________________
By:	Paul D. Thompson
Its:	President

We also know  the  FPS shares  pledged  were  discounted  in later  filings. What  that  gives  seemingly  is an enforceable  debt  remaining  and forfeiture  of  the  50% interest shovels  or no shovels. If  the JV made  any  metal it’s  theirs and  FPS portion is  theirs IF they owned it  which  they seem not  to  without  the  full purchase  cost  due to Mexus.  All along  with no possible  cred in Mexico mining.   No charge  account  at  the General Store. My opinion is  that’s probably NOT true  for Mexus  other  signature  to contracted  deal.   8

Rapier50 says: