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Laurion Mineral Exploration Inc V.LME

Alternate Symbol(s):  LMEFF

Laurion Mineral Exploration Inc. is a Canada-based junior mineral exploration and development company. The Company is engaged in the acquisition, exploration, and development of mineral resource properties. The Company is focused primarily on its wholly owned 47 square kilometers (km2) flagship brownfield, Ishkoday Gold, located 220km North-East of Thunder Bay, Ontario, Canada. The Company’s Ishkoday is situated in the Onaman-Tashota Greenstone Camp in the Irwin, Walters, Elmhirst and Pifher Townships, located 25 km northeast of the Town of Beardmore, Ontario, and 220 km northeast of Thunder Bay, Ontario. The Company holds Twin Falls property, which is contiguous and lies west of the Ishkoday Project. The Company also holds a 100% interest in Jubilee-Elmhirst, and Beaurox. The Company also owns a 30% joint venture interest and Canadian Gold Miner Corp.


TSXV:LME - Post by User

Comment by goldenIon Jul 05, 2023 2:57pm
144 Views
Post# 35527800

RE:RE:Updates

RE:RE:Updates They are not currently drilling.

One thing I can say about Cynthia is that if you send her an email, she will answer. She may not answer your question directly but that is another thing.

I don't think there is a buyer, and I don't think there is a sale this year. Maybe next year or the year after.

It has been implied that until there is a deal it's business as usual, but a junior mining exploration company not drilling is not what I would call business as usual.

It looks to me that they have tried to sell the Ishkoday story on the data and the modelling. It hasn't worked out and I think they need to drill and get good assay results to get it to the finish line. I think they are being very cautious and trying to minimize the capital outlay knowing that what they have may have to last them another year or two. Last year's drill results were at best ok. They were spun as "testing the perimeter" so they weren't expected to be great, and the pivot in the PR was "mineralization in every hole, virtually unheard of". Great, but the drill program was not that big last year either.

If there was a deal in the offing, it would make no sense to be sitting on the millions they have. In my opinion, t's not business as usual. Not necessarily bad, but more a business managing their survival in challenging times. We will see.


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