Laurion Mineral Exploration Inc V.LME

Alternate Symbol(s): LMEFF

Metals & Mining Gold

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.

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Laurion Mineral Exploration Inc > Metals House Inc

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Comment by StevenHunteron Oct 18, 2023 1:57pm

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Post# 35689405

RE:Metals House Inc

Hi Newbie!

the relationship with MH was made at the same time that LME started to work in earnest on the stockpile. There was always a notion of what it was but when the strategy of the company turned to what to do with it LME correctly assessed that partnerships were required. Super consistent with the operating plan for LME broadly.

In the agreement MH got first right to refuse the produced gold from the stockpile which made a lot of sense as their business is in the arbitrage of raw metal and refined metal. The reason this didn't manifest itself is that after the project started to move forward the cost of construction to actually extract and process the stockpile went so far through the roof that the project had to be put on the back burner. It wasn't economically pheasible anymore. I believe that is still the case. May change, may not, I'm no expert there.

Ahsineeg is a wholly owned subsidiary of the public company Laurion Mineral Exploration. As far as purpose and assets of the private corp there's nothing to speak of. I think this structure is very common in public corps, be they juniors or otherwise. If the fear there is that there are assets that are owned under that umbrella I would advise all to not be concerned. Ahsineeg is owned by LME and shareholders own LME. ipso facto, shareholders own Ahsineeg.

Hope that helps,

Steve

newbie8484 wrote: Hi Steve,

I am wondering if you would be able to break down this press release from US Capital Global securities from 2019 (I guess Laurion has retained their services before?) What is the current relationship with Metals House and do they still have first right of refusal on the stockpiles? I am having a hard time deciphering this, and I don't recall having seen these names thrown around recently (Metal House). Same goes for Laurion’s wholly owned subsidiary Ahsineeg, I am unclear of this relationship. Other then the fact that name seems to be a recent commenter with great insight on this forum.

Thanks Steve!

https://www.uscapglobal.com/news/metals-house-forms-strategic-alliance-with-laurion.html