Laurion Mineral Exploration Inc V.LME

Key Dates + Koolaid

[Smitty64]

Fellow LME’rs,
I’ve pulled some key dates from many of the posts and am hoping people can provide more context / framework:
 

1. A small bucket of stock options expire on Sept 27^th
2. Government incentive to finalize the sale before the end of 2023 (new regulation in regards to taxes come into place then - I believe this has been stated?)..someone please chime in here
3. 60 days notice for AGM announcement
4. AGM must happen within 90 days thereafter last year’s AGM
5. Therefore, AGM must happen before Dec 28^th
6. Steve Hunter announced as Financial Advisor on August 22^nd
7. All 3 of Ahsineeg’s Case Studies, the timelines between Financial Advisor hire and BO announcement were as follows:

• Kirkland Gold: FA hire: Aug 15 | BO announcement: Sept 28^th
• Premier Gold: FA hire:  Oct 27 | BO announcement: Dec 16^th
• Great Bear: FA hire: Nov 14 | BO announcement: Dec 8^th

Premier Gold being the longest gap at 6.5 weeks and GBR being the shortest at 3 weeks
 
Koolaid:
Aug 22^nd (FA hire) to Sept 27^th (options expiring) is just under 5 weeks. Can we get this done by next week!? Then announce the AGM in early Oct to be at the end of Nov/earlyDec and close this thing before EOY??

[Smitty64]

Sorry there is 1 more key date: someone has mentioned that LME has something like a $1 million grant to drill by the end of October/year end?? Steve has mentioned they will be redrilling the top areas of mineralization in October. Not sure if this works into the above but would be nice to hear if this would play a roll into the above.

[Wmaver]

Sooo many wrong things in this post.... will take time to list them all....

[matlas]

Smitty As I suggested before, I don't think that there will be a AGM. There will be a vote at a Special Meeting to approve the Plan of Arrangement, the deal will close and then LME will be delisted.  All this year 

[Wmaver]

1) 1 million isn't so small, but i guess out of 260 mil sure not so much 2) yes new tax comes into affect, but not much changes.  don't expect people to change their plan just for that. 3) the psat 2 have been 60 days notice, but they only need to give 21 days notice 4) agm within 15 months of last 5 yes on or before dec28th 6) no Steven is a PR guy ( great at it BTW) 7) sure 8) they

[matlas]

The new AMT rules will increase tax rate on individuals with very large capital gains by 4% federally and about a total of 6% if Ontario follows suit.  For Cynthia and Roger as well as the other members of LME board that amounts to many millions of dollars which I am sure they would strive to avid. 

[Smitty64]

Thanks for the feedback. This is why I asked others to chime in. Below is more concise:  So it seems: There is some incentive ( 1m/260m ) to have the stock price increase before Sept 27th There is incentive to have the sale finalized before EOY to avoid capital gains that could equate to multiple millions of dollars The money they raised has to be used for exploration before EOY

[Wmaver]

sounds like a GREAT wrap up to me!  still exciting times,  i never had the guts to sell any at 1$, sure don't have the guts to sell any now!! can't wait!

[Lambosntendies]

Great timeline Smitty sure you're hope right with the September 27 prediction (or sooner)! Ahsineeg, Great find with the linked in posts from 2019 as well! 

[matlas]

One other point Smitty-I am not sure how much they have to spend on drilling by end of year, but I am sure it will not be $1 million. I think that all the amounts that they have been spending on exploration outside of any drilling should also be qualifying CEE that would cover that liabiility (salaries to geology staff, fees to outside consultants, etc.). If that does not cover it, I don't

[Smitty64]

Agreed Matlas. I think the drilling will happen either way since the funds have to be used for exploration, whether the drilling is done under the supervision of LME of an acquiror is a question the red herring can lead us to.