By: Dylan Sikes - AllPennyStocks.com News

Monday, February 6, 2017

In a continuation of the previous year, precious metals such as gold, silver and copper are off to a great start so far, and that bullishness is expected to continue according to most market commentators. According to these market experts, copper is expected to outperform other metals and is likely to touch $6,200 per ton this year. Similarly, gold is expected to touch between $1,400 and $1,600 per ounce, depending on which brokerage firm you believe. This scenario bids well for companies such as Mexus Gold US (OTCQB:MXSG) which has interests in diversified metal properties. The Company announced this morning that it plans to go ahead with its Santa Elena mine project. In order to move the project further, the company CEO Paul Thompson paid a visit to the site and provided updates. The company has already carried out the first column test at the site which showed the mineral availability at 0.70 grams of Gold, implying that the minerals are available at shallow depth.

Mexus Gold also plans to start cyanide leaching of the pad by the end of this month while production is expected to start by the end of March. The company CEO also addressed the issue of slower than expected progress of the project.

Mexus Gold stated that it expects to improve its production level to 10,000 tons per day during the year. The company had recently augmented its equipment at the site as the previous installs were not enough for handling the new loads. Mexus Gold is in collaboration with MarMar Holdings, which is the mine operator for the site. The new machinery includes a bigger crusher, which will increase the speed of operations.

Santa Elena is the first producing mine for Mexus Gold. Apart from this project, the company has several other properties as well such as the San Felix project. Its operating partner will simultaneously work at both of the sites. The company had acquired this property earlier this year and holds a 50% stake in the site, with the remaining stake being held by MarMar Holdings Inc. Sampling data from the site shows the potential of 1 million oz. gold equivalent.

Mexus Gold also holds an interest in properties in Mexico including the Ocho Hermanos-Guadalupe de Ures Project and El Scorpion Project Area. These sites provide the company with enough diversification for the proper execution of their business policies.

Shares of MXSG have shown impressive growth in the past 12 months as shares appreciated over 6,000 percent during that time period. With that said, the Company’s stock price pared some of those gains in the current year as shares lost over 20% of its value this year so far, likely as a result of profit taking but also on delays at the Company’s Santa Elena project. Now it’s on the Company to reassure investors that everything is on track and moving positively, and perhaps this sell-off can reverse in short order.

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