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Regenx Tech Corp. C.RGX

Alternate Symbol(s):  RGXTF

Regenx Tech Corp. is a Canada-based company, which is engaged in development and commercialization of its environmentally friendly processing technologies for the recovery of precious metals. It has two operating segments, exploration, and development of mineral properties in Spain and mineral extraction through use of its equipment in North America. It is focused on the extraction of platinum and palladium from diesel catalytic converters. It provides an alternative from environmentally harsh smelters to modern technology to recover the precious metals. Its industries using catalytic converters include generators, industrial, automotive, light trucks, commercial vehicles, and heavy equipment. The Company’s subsidiaries include SME Resources Ltd., Mineworx Technologies Inc., Regenx USA Inc., and MWX Espana, S.A.U.


CSE:RGX - Post by User

Post by AlfTanneron Mar 29, 2024 3:49pm
170 Views
Post# 35960460

Was it all a lie?

Was it all a lie?
Was everything management promised a lie?  Not really; it was "forward looking statements", so it was not technically a lie.  Either way, module 1 is never going to produce much platinum.  The process simply does not measure up to what management promised. 
 
The sad fact is that the ore from platinum mines is only around 5 PPM, and they are able to mine platinum at a profit.  The catalytic converter "ore" averages roughly 400 PPM, and this process cannot extract it at a profit.  It seems like it would be better to simply send the catalytic converter "ore" through the same process as the mined ore.
 
I think that Pendura probably believed that this process would work, so he did not intentionally mislead investors.  But it does not really matter at this point.  The fact is that the process has failed, and investors have lost pretty much everything.  
 
Maybe a year from now, they will build module 2 after learning all the things that do not work in module 1.  They problem is that they will be out of money by then, and the company has a good chance of being bankrupt.

This has been a harsh lesson in investing in small companies making big promises.  You can NEVER believe what they say until the PROVE IT.  You have to wait for RESULTS.  The temptation is always to get in early, but that just sets you up for failure.  Let other people take all the risk, and get in after there is evidence that the company can actually do what they claim.
 
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