By: Matt Rego
Junior gold mining company, Mexius Gold US (OTCQB: MXSG) specializes in the exploration, acquisition, mine evaluation, and extracting of gold, silver, and copper minerals. Shares of the gold miner are rallying 9% during early trading on Monday, August 01, 2016. Over the past three months, Mexius Gold US (OTCQB: MXSG) has seen average daily volume of around 1.12 million shares exchange hands, However, nearly 1.1 million shares or dollar volume of around $67,100 has already exchanged hands during the early trading session on Monday.
The big news out of Mexius Gold US (OTCQB: MXSG) details of the company’s update on filing 10K annual audited financials, which was finally completed and submitted last week. The delay came after the gold miner hired a new auditor that had to go through the past three years of financial records. Also in the update was the gold company’s update on their Santa Elena mine, which continues to be on schedule. Management expects the mine to be operational for the next 25 years or more and have decided to increase pad size from 10,000 ton pad to a 250,000 ton pad. In addition, the gold company has begun to hire 24 hour security at its mines, due to the fact the company is getting deeper into drilling process.
Mexius Gold US (OTCQB: MXSG) Press Release
CARSON CITY, Nev., Aug. 01, 2016 (GLOBE NEWSWIRE) — Mexus Gold US (MXSG)(“Mexus” or the “Company”) is pleased to announce that its 10k annual audit was completed and submitted last week. The delay in presenting the audit resulted from a new auditor having to review the previous 3 years. The auditor was happy with their findings which should lend support that all of the financials, as previously reported, are correct and accurate.
Work at the Santa Elena mine continues as planned. The decision to enlarge the heap leach pad has made phase 1 of construction take longer than expected. Marco Martinez, President of MarMar, states that the time involved to build out the infrastructure is well worth the delay when you consider our ultimate goal of having an operable mine for the next 25+ years. Mexus had initially planned to start with a 10,000 ton pad. MarMar decided to increase the size with the pad now being able to handle 250,000 tons. Finally, the work done to date has brought the company to a point where 24 hour security is needed at the mine. A firm has been hired and round the clock security is now in place.
MarMar’s expert team of geologist, engineers, accountants and team of lawyers continue to meet and exceed the standards expected when Mexus brought them in as a partner. The work being done at the mine is being reviewed constantly to ensure compliance with all laws and regulations. Added CEO Paul Thompson, “Marco Martinez, CEO of MarMar, has been excellent to deal with. He has followed through on everything we’ve asked and been spot on with his recommendations and follow through. I’ve heard our shareholder base loud and clear when they asked for a history of MarMar and Mr. Martinez. You’ll find this write up on our website with a link to the report below. I hope this confirms to our shareholders that we have found an excellent partner who will bring this mine into production in a timely manner and at a low cost.”
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus’ fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. The property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.