Hey LME Longs,
I spoke to a friend who works on Bay Street for a Private Equity firm that specializes in the Canadian Mining Industry. They broker M&A deals by literally pairing Juniors with Seniors or they acquire Juniors on their own with the hopes of further developing and selling to seniors.
I asked him if he had heard of LME, he didn’t. He asked his colleagues if they had heard of LME, they have not.
I told him that there is proven 10m GEOs, potentially even more. I showed him DAM$’s post from a while back which outlines this here:
https://stockhouse.com/companies/bullboard/v.lme/laurion-mineral-exploration-inc?postid=35009519 His response, “I just looked through the entire Corporate Presentation on their website and did not see a single mention of the 10m GEO’s. If they actually had proven 10m in the ground they would have that stated on every page and there would be a lineup of Seniors. All these juniors try to use the “Next Great Bear Resources” pitch but it’s the same as tech companies calling themselves the next “Uber” – all fluff. They can use all the language they want but until they outright state and prove there is 10m GEO’s I’m ain’t buying it and you should really try to slowly soften your position…”
Obviously this is not something I want to hear. I have been heavily invested for almost 2 years now, held after the AGM and am currently at a loss. I have a majority portfolio position in LME and am starting to become worried and apprehensive. @Matlas before you jump in and announce a sale happening tomorrow I’d like to hear what others have to say. If the big institutions on Bay Street don’t even have a sniff of these guys, there has been no real news/results in months and they are just redrilling where they have already drilled…doesn’t sit too well imo