43-101 One point that I wanted to discuss and that has nothing to do with buyout prices or valuation is in regards to the 43-101 National Instrument.
I have seen posts here that reference a Facebook post from Roger that Laurion will not produce a 43-101 before a buyout as it is not in the shareholder's best interest.
This is disengenuous at best and it twists the intent of the 43-101.
From Wikipedia:
The purpose of National Instrument 43-101 is to ensure that misleading, erroneous or fraudulent information relating to mineral properties is not published and promoted to investors on the stock exchanges overseen by the Canadian Securities Authority.
The NI 43-101 was created after the Bre-X scandal to protect investors from unsubstantiated mineral project disclosures.
The narrative here is that the buyout price will be based on the GEOs. I agree. All potential suitors have access to the full data. Ok. Neither of those are mitigating factors in releasing a 43-101.
So how is not releasing a 43-101 in shareholder's best interest?
That is one thing about a tightly held company. We can ask but the ability to apply pressure is limited.