Mexus Gold Mining SA DE CV.
The placer operations at the Santa Elena project continue to proceed with production and evaluation of various geological areas of interest. Paul Thompson, president of Mexus Gold US, stated that While Mexus Gold Mining awaits final approval of its environmental permits, we are not wasting any time, we are moving ahead with the design and engineering of a Merrill-Crowe recovery plant. To this extent, Mexus has purchased some of the key components for the planned expansion of the operations. Mr. Thompson went on to say that Mexus is pleased with the progress of the permitting process by the Mexican authorities responsible for the approval of the permits.
Mexus-Trinidad Joint Venture.
Mexus Enterprises SA DE CV, as administrator of the Mexus-Trinidad Joint Venture, has made the determination to temporarily suspend the production operations at the Mexus-Trinidad mine. This decision was made to allow Mexus the opportunity to revaluate the production methods and procedures employed by the minority Joint Venture Partner whom had been entrusted with these responsibilities within the Joint Venture Agreement. As administrator of the Joint Venture, Mexus has the sole authority to institute whatever changes that may come to its attention to effectively operate the mine facility in the best and most profitable manner available to Mexus and the Joint Venture. These changes could possibly involve all facets for the overall operation ranging from extraction of the ore and processing of same to employees of the Mexus-Trinidad mine in its entirety. This revaluation is a large endeavor and the timeline may require a significant period of time and is not fully known by Mexus at this point in time. Mexus has retained several advisors covering different aspects of this revaluation and in the course of this revaluation will make its determinations in the best interest of Mexus Gold US and the Mexus Trinidad Joint Venture, accordingly. Once Mexus has had the opportunity and time to conclude its final determinations, if any, on all aspects and topics regarding this revaluation and begin any associated improvements, the Company will release its report accordingly.
