RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Buyers Yes, that is correct. In addition to resampling and doing quality assurance (which I think is ongoing).
The point is that that if you look at drill results some holes get an overall grade for the hole and some may include lines that says something like XXg/t over 1 meter. There can be large variations of grade over short distances. The further away you are from the measured core, the less confidence you can have in the grade at that position (infered) up until you are so far from a measured point that you cannot use it all.
You can add data to your model including channel sampling but that isn't enough to move a resource from infered to indicated. Not according to the CIM definitions.
Based on other MREs that I have read, the size of the strike zone and the drilling amounts I cannot see how, within the thresholds of the CIM that Laurion has 10M indicated. There are not enough data points.
I think it is there intent to validate it. I think they will need a lot more drilling in order to do so. I think they don't have the cash reserves right now.
No one wants dilution, it is just a neccesary thing. Warrants are dilution and I would much rather a large capital investment from a third party at the market valuation than the issuance of warrants at discounted rates. A third party gives at least some validation of Laurion's data and I think would raise the SP.
I think the price of $300/ounce is going to be on indicated/measured reserves that will take into account cut-off grades and the economic feasibilty of actual extraction.
That isn't to say that a buyout couldn't happen at any time, just that it is going to at indicated and measured resources and if it's short term that is a lot less than 10M GEOs.
Also, this is in no way to diminish the work of Cynthia and Laurion. To think that anyone could have predicted a pandemic, a financial crisis and a war (all of which have impact) is not reasonable. Good leadership pivots and reasses as they need to. I think they are doing the best they can.