Newlox Gold Ventures Corp C.LUX

Financials??

[brewster123]

I think they are behind again on posting their quarterly financials!!  CTO any day now probably!!

Very disappointing if that happens again.

[JayBanks]

  Plant 1 is only producing at 40ish% and may have been down during the quarter... Plant 2 was collecting dust and rust... The financials are irreverent at this point, pick something else to be disappointed about from the company, if you wanna be disappointed by timelines worry about the fact P2 was suppose to be completed 3 years ago, or that after nearly 4 years P1 is less than half

[nedstar71]

For plant one they say it's still in the process of ramping up operations, after starting commercial operations almost 5 years ago...lol.  Um, what exactly is the problem? Is there not enough feedstock or is the process not working properly? Ramping up should be weeks or months, not half a decade and counting.  It would be nice to just get some real answers. Also I note that "

[lscfa]

"Ramping up should be weeks or months, not half a decade and counting." Part of the reason is COVID which shut down operations for a while.

[nedstar71]

Covid basically ended two years ago now so that's really no excuse at this point.  It's 2024.  These aren't big operations.  If the feed stock was there and the process worked as indicated there is no reason imo full production shouldn't be achieved in weeks or months.  Electrical upgrade?  Ok then, ramp it up to full production within a few weeks or a

[lscfa]

They also relocated plant 1.... Newlox Gold was adaptable and decisive allowing the Company to continue to make progress, despite the pandemic related interruption. Working closely with local regulators, the Company took advantage of the unscheduled shutdown to execute a long-standing plan to move the first processing plant to a more favourable permanent location in line with the longer-term

[nedstar71]

Again, the winter of 2020 was over 3 years ago.  No need to look for or reasons the plant isn't producing at full capacity today based on what happened many years ago, as it hasn't produced at or near capacity at any time since or in it's existence.   You have no idea who David Jackson is either I assume?  And further to that, if Ryan's family member is pulling

[JayBanks]

David Jackson is Ryan's father... Plant 1 was just moved on the property, likely to make space for Plant 2 which is on the same property. Plant 1 is now on the North-East Corner, with a larger pond built South of it, and Plant 2 is what seems like Center-West of the property. I believe (I don't know for sure) the issue with plant 1 ramp up is that it is somewhat a science experiment, and

[nedstar71]

Ah ok thanks. I think you may be correct on the science experiment part.  The question is how much of a science experiment will plant 2 end up being?  Regardless of excuses everyone continues to make for this company, these are very very small operations.  If the process works there is no reason imo ramp up time should exceed a few weeks or a couple of months maximum. Not a fan of

[JayBanks]

I believe his dad is a professional in some sort (lawyer or something legit), I'm pretty sure I've heard it mentioned in an interview or article before from early on. I believe that thier company's are mentioned routinely in the financial disclosures because they were part of the initial finacing/debitors to get the company started. And don't take this as defence agaisnt your

[nedstar71]

Gold Rush sounds about right.  Todd Hoffman without the charisma ;-)  Even dad is on the payroll. "No guts no glory!!" So barring the usual LUX hiccups, the only thing that should possibly get in the way for plant 2 is a possble lack of feedstock or willingness of the local artisian miners to participate? 

[JayBanks]

  I'm sure there are other issues that can be had, no one foreseen the electrical issue that has put us anouther year behind, so I wouldn't say that, it's just a more standard process... Artisian Local Miner participation shouldn't be a huge issue, maybe in volumes here and there, but the results are very strong for them to participate as they will be better off using us.

[lscfa]

Co. needs to be more transparent. Either plant is operating at less than capacity or ore grade is less than forecast, or a combo of both.       Reduced tpd Reduced grade Reduced tpd & grade   Capacity $1M /qtr

[lscfa]

Corrected table:       Reduced tpd Reduced grade Reduced tpd & grade   Capacity $1M /qtr $1M /qtr $1M /qtr Tpd 80 24.5

[JayBanks]

If your referring to the latest financials and why the production/revenue was down, I believe it's is because less days running. Plant 1 was down during the electrical work for a while while they hooked up the new unit, it seems like it affected a little last quarter and more this quarter reported... I dont think they ever officially told us how long it was down for or the splits in how it

[lscfa]

My table is assuming $1M cdn /qtr revenue which is the rate before the last 2 qtr where downtime for electrical caused a decline in revenues. They appear to be running at  about 20% of capacity and I would like to know why.     Qtr ending Ozs sold Revenue Gross profit Gross margin

[JayBanks]

Have you E-mailed Management? Apparently, Ryan usually responds... If you get a response would be interested it to hear what is said...

[lscfa]

Never got a reply from Dec 2022 inquiry. Will try again. Date: December 4, 2022 at 10:52:31PM MST To: [e-mail] Subject: Shareholder Question   Hello, The MD&A does not give adequate explanations. Shareholders are wondering:   It appears the plant is running at about 1/4 capacity. Is this correct

[nedstar71]

Their MD&A has always been sorely lacking in detail and is usually just mostly cut and pastes from previous quarters and years. You know what would be good?  If this whole Colombia story was put on hold for a year so there are no 'distractions' from getting Plant 2 to its full potential.  It alone should bring in fantastic revenue, but I have this nagging feeling it won't

[nedstar71]

And I don't mean to say the salaries and consulting fees have been that high the entire time, I'm sure they haven't.  To me, any salary over about $150k a year for this outfit would be considered excessive. Not sure if Ryan's salary is quite as high as I previously guessed but on a quick scan I can't find it broken down in the financials.  As for consulting fees, that

[lscfa]

On sedar now