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 > LME analysis summary

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Post by DouglasGVasson Mar 04, 2024 2:31pm

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Post# 35913892

LME analysis summary

The company is primarily insider owned. There are typically discounts to majority insider owned companies given the lack of liquidity and trading volume.
1. 72% insider friends and family
2. 12% retail
3. 16% institutional
There is clear evidence of base and precious metal occurrences. Proven by drilling over 78,663 metres of core through 419 drill holes.
1. The NI 43-101 report completed Feb 2024 describes Ishdokay as a “Property of Merit” revealing signifcant presence of gold between 0-250m depth. This report only takes into account 20% of the Ishkoday property.
2. There was a report published in 1972 stating that there were probable ore reserves remaining in the Sturgeon River mine. Because this report is so old, LME cannot treat those previous reserves estimates as current.
There were two operated mines within the Ishdokay Project Area which did recover gold back when they were operating.
1. Sturgeon River mine – operated between 1936 – 1942 - 17g/t Au (80,000 ozs in-situ - historical)
2. Brenbar Mine – operated between 1941 – 1949 - 20g/t Au
3. Gold-bearing stockpiles (NI 43-101)
Developing an open-pit model by proving the existence of near surface bulk mineralization in gold-silver and gold-zinc rich polymetallic component which extend over a 3 km x 1 km area (a collective total strike length of 9,000m).
On June 14, 2023 Laurion engaged a special committee for the purpose of exploring opportunities and potential transactions
On Aug 24, 2023 they engaged US Capital Global Partners for US$250,000 to explore opportunities and potential transactions.
As of September 30, 2023 LME had unrestricted cash balance of $6.96mm with another $786k of restricted cash.