Both slowly recovering she faster as is a cure, mine palative awaiting major skull cleaning out, 6 months to grow back as bony process. Done that been there. Form 4 was for near exact $9K by multiplication table, 231,432 X .039= 9025.848 for exactly that purpose. His bills were rather high. He holds owner’s shares as both Mexus and Tarus Gold and a lot have been PP’d to keep corp afloat. Amazed he maintains many as he has but is the one person knows the full value and is not giving away his or ours. If MXSG is the share symbol? Cash goes to Mexus not PT. Best I know he gets expenses and is tight as Scrouge’s buttoned back pocket . Knows to wait for his as I try damn hard to do mine. Bills are bills however but I can’t recall selling any at all last 3 -4 months . Some back when was around 4 cents to take more 3 centers and now simply taking on nearer one. I usually don’t edit much mail on blog but print it out and answer. But most time is comments there anyway. Not a Mexus blog no more than Gold Resources was GRC alone. Meantime only thing of importance .is to maintain until decision comes and I believe will be like magic the speed things come to pass. Current bunch’d not even be beyond fence offering to take on 55%. What do you think last 6 months have been spent doing? Gamble or no? Bet’s down long since and impossible lose more than I’m in so pretty confident was correct since Feb ’12. Sure no coin toss, I’d say I’ve 3 Aces in 5 card draw . Right property, right number of shares and great PPS gotten a lot better due stupid owners. Next 2 cards are in the draw and I’m playing these 3. 16 to 1 I get another pair for full house and 24 to 1 the 4th ace. All in and probably win with trips but any better with a can’t lose partner? Good to go. It IS a game and we only play if it’s fun or not at all. There’s the Lout’s Enigma .
Of late he does NOT announce trips to meet shareholders. Time better spent in dealings for half year and even SEC get together was at CA office . Between Jan ’11 and this year invite was wide open and meet at the gate. Sounds like 3 years running open invite to me. Why now? I saw him become close mouthed after we managed to get Ken in jail for good then began to learn of the Drug Lords and criminals he was elbowing with at card tables behind the chain links. I’d even note the enemies we seem to find on our friendly round table RB of the wobbly legs and splintery surface. “I hate him” seems the ante-up but cowards aren’t to be feared. We know them by NOT knowing who they are. Have to actually DO SOMETHING to be dangerous and have all the fatality of a stinky fart. Fresh air’s a cure.
Oh yeah Federales faked Ken into jail on a couch in Mexus Caborca Office set up by Atzek legal team. And I was some of the bait. Fat Cat Rico Texan investor twice. I’m not anxious to be around the jerk either. Local Lout’s I think I can handle at decrepit 77 disabled but we never seem to meet. Perhaps I should try Motel 6 , Homer AK? 8
October 18, 2014 12:48 PM,
don…
hope your and your wife’s recent medical issues have been or are on their way to being successfully resolved.
re mexus: we are certainly at an interesting juncture. on the face of things, it’d seem to make a lot of sense for all concerned for us to do a deal with fresnillo, if in fact they are the potential jv partner. i guess it now depends on a) the projected “richness” of our assets and, assuming that checks out, b) whether pt and frez can reach a deal both are satisfied with. i know you are already convinced re the 1st point and i guess frez’s dd will soon corroborate that…or not. Re the 2nd point, however: pt must recognize that this is likely his last best chance — at least for the immediate future — at finding a synergistic partner with the wherewithal to do a good deal and get the property into production in a “reasonable” time frame (which could still be 2 years out by the time all is said and done). Wondering if you think paul is ready to forgo his insistence on being the majority partner in this case….and whether YOU think perhaps he should. Just hard to see why Frez wouldn’t want control. I’m not in on this poker game far enough to know all the facts, but personally, i think if we could do something like a 45/55 deal — with 55 going to partner who also pays for all exploration and production going forward, we’d be in decent shape for a sizable gain in pps. Goes without saying though that if we give up majority (and with it administrative control), we’d have to have some real ways to verify we are getting our fair share once production begins. The old “trust but verify”. Curious what your current thoughts on the subject?
Re current stock price: like many, have put a fair amount of capital into Mexus. Of course am tempted to further average down at current prices. If property is anywhere close to what you and PT seem to think, a 6M market cap does seem absurd. But with Mexus spotty history on a number of levels (no offense intended….but hard to argue with that assessment, especially looking at pps), being apparently so close to the financial precipice and no real visibility on the future yet….it feels like a real coin flip at this point…a pure gamble. Even with Frez seemingly interested enough to go to next step of 1-month dd period, after so much invested, just very hard to just close one’s eyes and throw in more. If Frez doesn’t work out, our only remaining plan B will be to start up alone with the 4M due from 1st Pursuit…and we have no real clarity on their desire or ability to pay up as per contract. So…. I think many are feeling very much on the fence re further investment, despite the apparent “attractive price”…. With your GORO and other experience, any further cogent thoughts on this subject?
A couple of other items:
According to most recent SEC form 4, pt’s holding in mexus has gone down from about 72M shares to about 63M. At .03/sh avg proceeds, those 9M shares would have garnered about 270k $…not 9K$ as you mentioned in your blog on the subject. I know you trust paul…and i know he gets no salary and has expenses like all of us. Maybe some of those funds went toward paying mexus bills but….when a CEO sells 13% of his holdings, it’s only human to ask a few questions. It’d be different if we were all making money with mexus, but so far we are not. So…any thoughts or insights you can share? I assure you I’m not alone in wondering about this… and no one wants to be thinking “bad thoughts”, but very human to at least ask the question. Again, a case of “trust but verify”…
FYI, re mine visit: you have mentioned several times that few have made the trip south. Just want you to know that several of us have made the request SEVERAL times of late, but have been discouraged. That is on the company, not on “lazy shareholders”. No one wants to make this trip without full knowledge by and consent from PT….
One last thing: you of course will do as you wish, but i request that if you include any of the above in a future blog, that you not paraphrase or do “convenient editing”. By this I mean, I request that you not use a line like “a 6M market cap does seem absurd” without including the rest of the thoughts in that paragraph…please.
good weekend,
Eight,
Interesting letter. From what I have heard through the grapevine a lot of the majors who are making deals with the juniors are really trying to wear the juniors down, especially if they feel the juniors are in a weak position and they can get a steal of a deal. Might be the case here, which may explain the time it is taking to get a deal done. Can’t hurt to get those drill results and wave them around a bit. Was the decrease in PT’s shares due to him selling them that one time to those who previously took PP’s in the past to pay for operating costs?