Past year: ▲ 0%(0.01c – 0.15c USD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2018capital raising announcement▼ BadMajor
On October 12, 2018 Mexus closed a $200,000 convertible note with an accredited investor: 6% interest, matures in 12 months, convertible into common stock at $0.006666667 per share. The company must reserve at least 30,000,000 shares for conversion, so conversion would add new shares (dilution). The attached press release is the April 2018 MarMar termination release, not a release about this financing.
20 Apr 2018material agreement termination▼ BadMajor
Mexus's subsidiary terminated the Santa Elena joint venture with MarMar Holdings, saying MarMar failed to provide agreed funding, equipment and operations and could not meet environmental standards; only 8.5 oz of gold was produced in 22 months. Mexus says it expects no early termination penalties and plans to run Santa Elena itself (500 tons a day, an open pit on the Julio vein), promises a non-dilutive capital raise plan, and says set-up at the 8 Brothers project should be done by June 1, 2018.
2 Feb 2017material agreement● NeutralMajor
Effective January 13, 2017, Mexus's Mexican subsidiary agreed to buy a 50% interest in the San Felix mining site (seven concessions, about 26,000 acres, near Caborca) from three individuals; the other 50% is owned by Mar Mar Holdings and Marco Antonio Martinez Mora. The total price is US$2,000,000 with Mexus responsible for 50%, payable in installments from US$150,000 by January 30, 2017 to US$300,000 by May 13, 2019. This is a purchase of San Felix, a site name that appeared earlier in the context as a sale to First Pursuit, and the filing does not say how the two relate.
16 June 2016material agreement● NeutralMajor
Effective May 19, 2016, Mexus's Mexican subsidiary signed a joint venture with Marmar Holding SA de C.V. on the Santa Elena (formerly Julio) and Marta Elena concessions, the properties Argonaut had walked away from. Marmar will provide operations, equipment and funding; profits go 5% to Mexus and 95% to Marmar until Marmar recovers its costs, then 50/50.
7 Dec 2015material agreement termination▼ BadMajor
Argonaut Gold told Mexus it will not exercise its option on the Julio/Santa Elena property, ending the Caborca joint venture agreed in July 2015. Argonaut cited gold-price uncertainty and the $5,000,000 drilling and mapping obligation, the $950,000 payable to Mexus, and the 20% fully carried contract; it is estimated to have spent about $500,000 on 16 drill holes (1,990 meters, averaging 0.392 ppm gold and 1.676 ppm silver). CEO Paul Thompson says he is talking to other possible partners for the underground hard rock project.
7 Aug 2015auditor change● Neutral
On July 7, 2015 the board dismissed auditor De Joya Griffith & Company, LLC and approved RBSM, LLP for the fiscal year ending March 31, 2016. De Joya's reports for the years to March 31, 2015 and 2014 carried a going-concern warning about losses from operations, and the filing reports no disagreements.
15 July 2015material agreement▲ GoodMajor
On July 6, 2015 the company's Mexican subsidiary Mexus Gold Mining granted Argonaut Gold's subsidiary an option on its Caborca, Sonora concessions (Marta Elena, Julio II-VII, Mexus III), to be moved into a new company. Argonaut pays $75,000 on signing and must spend at least $300,000 by December 31, 2015; extensions raise the payments and spending, and exercising by December 31, 2018 requires $5,000,000 of spending and $950,000 of payments to Mexus for an 80% stake, leaving Mexus 20%. Argonaut can end the deal on 30 days' notice once required payments are made.
28 Mar 2014material agreement▲ GoodMajor
On March 24, 2014 the company and Mexus Gold Mining S.A. de C.V. agreed to sell 100% of Mexus Enterprises S.A. de C.V., the Mexican operating entity that owned the San Felix Project, to First Pursuit Silver de Mexico for $5,000,000. Payment is: assumption of $468,000 of debt, $200,000 cash to a creditor, $332,000 in Silver Pursuit Resources shares at $0.20, and $4,000,000 cash due by March 24, 2015. Mexus keeps a 50% security interest until paid in full, gets a release from claims tied to the project and its former joint venture partners, and keeps the machinery at the site.
24 Sept 2012material agreement termination▼ BadMajor
On September 18, 2012 the company ended its July 2010 Project Management Agreement with Powercom Services, Inc., the deal meant to fund the Alaska cable-pulling project. The parties said the terms no longer worked for both sides, and the company agreed to issue Powercom 1,000,000 restricted shares for a release and indemnification.
8 Feb 2011auditor change● Neutral
Third amendment to the October 2010 auditor-change filing. It corrects the company name back to Mexus Gold U.S., Inc. and otherwise repeats the earlier text, including that no response has been received from O'Donnell.
31 Jan 2011auditor change● Neutral
Second amendment to the October 2010 auditor-change filing. It repeats the previous version (including the 'AVT, Inc.' name and the PCAOB revocation of O'Donnell) and states that no response letter has been received from O'Donnell.
14 Jan 2011auditor change● Neutral
First amendment to the October 2010 auditor-change filing. It adds that the PCAOB revoked O'Donnell's registration effective December 14, 2010; the rest repeats the earlier text, though it names the company as 'AVT, Inc.', apparently an error.
1 Nov 2010auditor change▼ Bad
Auditor Larry O'Donnell, CPA, P.C. resigned around October 5, 2010, only about five months after being hired, and on October 26, 2010 the board appointed De Joya Griffith & Company, LLC. O'Donnell's report on the year to March 31, 2010 carried a going-concern warning citing an accumulated deficit of $641,028; no disagreements are reported.
20 July 2010material agreement▲ GoodMajor
On July 7, 2010 the company agreed to fund Mexus Gold Mining, S.A. de C.V. so it can start mining in Sonora, in return for 75% of mining revenues after costs; the agreement ends when the business combination between the two completes. On July 9 it also agreed with Western States Trading, LLC to process 20 tons of material from the 'Eight Brothers Mine' for evaluation. This builds on the October 2009 option on Mexus Gold Mining.
13 July 2010material agreement▲ GoodMajor
On July 8, 2010 the company signed a Project Management Agreement with Powercom Services, Inc. to provide the capital for the first phase of recovering undersea cable in Alaskan waters, which the company says will fund it through its first barge load sale. It aims to start pulling cable by mid-August and deliver before the end of September 2010; these are company targets, not results. This advances the cable salvage plan first described in February.
11 May 2010auditor change● Neutral
Auditor Cordovano and Honeck, LLP told the board it wished to resign, and effective May 7, 2010 the company hired Larry O'Donnell, CPA, P.C. Its 2008 and 2009 audit reports carried going-concern warnings, and the filing reports no disagreements.
18 Feb 2010capital raising announcement● NeutralMajor
On February 11, 2010 the company issued another 20 million restricted shares as the exercise price of its option on Mexus Gold Mining, S.A. de C.V., completing the share payments set out in the October 2009 option. The filing also describes its projects (Ocho Hermanos, 370 Area, El Scorpion, Los Laureles in Sonora; the Nevada Pacific Rim property; and a cable salvage plan), noting that management has not verified the reported figures.
14 Jan 2010capital raising announcement▼ BadMajor
On December 21, 2009 the company agreed to buy mining equipment (a Komatsu dozer drill, cone, jaw crusher, surge tank and hydraulic drum) from Mexus Gold International, Inc. for 40,000,000 restricted shares, for use in Mexico. The seller is the same related company that leased equipment to it in September 2009, and the large share issue dilutes existing holders.
5 Nov 2009capital raising announcement● NeutralMajor
Now named Mexus Gold US, the company signed a 180-day option on October 20, 2009 to acquire 99% of Mexus Gold Mining, S.A. de C.V., which claims land and equipment in Sonora, Mexico. It issued 20 million restricted shares on November 3, 2009 as the option price; the exercise price is a further 20 million shares. The deal depends on Mexus Gold Mining completing a US-standard audit.
3 Nov 2009material agreement● NeutralMajor
On October 16, 2009 the company paid 250,000 restricted shares for an eight-month option (extendable six months) to buy patented and unpatented mining claims in Esmeralda County, Nevada. Exercising it would cost $5,000,000, payable in cash and restricted shares.
11 Sept 2009material agreement● Neutral
On September 4, 2009 the company signed a six-month rental of a Komatsu dozer and a core drill from Mexus Gold International, Inc. at $3,850 per month, payable in cash or restricted shares valued at $0.08 per share. The filing states that the company's sole officer and director, who is also the majority owner and sole officer of the lessor, is on both sides, so this is a related-party deal.
10 Sept 2009capital raising announcement● NeutralMajor
The company (then still named Action Fashions, Ltd.) issued 42,500,000 shares to Tarus Gold on August 23, 2009 on conversion of an $85,000 note at $0.002 per share. Tarus Gold is owned by sole officer and director Paul D. Thompson. On September 3, 2009 former majority holder Phillip Koehnke returned 129,025,000 shares to treasury for partial debt repayment, leaving Tarus Gold with 84% of the stock. This confirms the control change shown in the earlier ownership filings.
