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Bullboard - Stock Discussion Forum 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... see more

TSXV:LME - Post Discussion

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Post by StevenHunter on Nov 21, 2023 10:21am

After the AGM

Been a nice period of decompression following the AGM.  I think we should all be extremely excited as shareholders.  Objectively, here's where we are:
  • Targeted drill program is closer to end than beginning
  • Assay results coming back much quicker now than they have been (per Cynthia at the AGM)
  • Between in person and online over 140 people attended the Laurion AGM
  • Property just expanded by 10 square km's
  • Treasury is stuffed with cash
  • Management presentation was focused on disposition
  • Cynthia could not disclose/discuss any details on disposition at the AGM (I agree with Fatlas, that's a good thing)
  • The Laurion team was enthusiastic and confident in their project at the AGM.  
  • Support for Cynthia and the Board was north of 99% from voting shareholders
  • Interest in flow through issuance was oversubscribed
  • Company is operating with positive cash flow (unheard of in a junior)
  • Company has $0.00 in debt (also unheard of)
  • Our contracted financial advisor is executing a process to facilitate the disposal of Laurion in exchange for a fee and the latest PR told us all that they are nearing the end of their due diligence process
  • A resource estimate that was perennially far off has been disclosed as in scope for 2024
  • In field sampling continues to reveal additional opportunity on the Ishkoday
  • The share price has been stable to positive following the AGM

Universally positive news folks and if you can find another junior that has all this going for it plus all the infrastructure, share structure, cash flow, liquidity, claims, partners and data that Laurion has, I'd love to hear about them.  Cynthia has built this differently to be sure and in doing so has created a best in class junior that I couldn't be happier to own.

It's a great time to own shares of Laurion.

-Steve
Comment by Toddsquad on Nov 21, 2023 12:22pm
Thanks Steven, Excellent summary. Do we know when the current drilling program will be completed in the field?  Would be great to know this detail; subsequently the Assay Results being available ~5 weeks later.
Comment by StevenHunter on Nov 21, 2023 6:31pm
Talked to Cynthia today and she described the drill program as "almost done". -Steve
Comment by bjgreenway1945 on Nov 21, 2023 3:02pm
Steven - Thanks for your really excellent bulletpoint summary of the AGM. You have documented all the reasons shareholders should be both bullish and patient about owning a piece of LME, which, thanks to Cynthia's prudent vision and management, is truly a unique  Canadian "junior mining gem". First became a small shareholder in 2007, but have added substantially in 2023 and, as ...more  
Comment by StevenHunter on Nov 21, 2023 6:32pm
It was my pleasure to meet you and your Son at the AGM!
Comment by Wizzle on Nov 21, 2023 4:04pm
Thanks Steve.  Sorry this forum went a little crazy for a while.   Have a few questions that may or may not be answerable; The goal is a complete MRE/43-101 in 24.  Any idea of when in 24?  I assume it would be near the end of 24 as there appears to be some drilling needed on the new land next spring/summer.   Can we expect an announcement when the MRE/ 43-101 ...more  
Comment by StevenHunter on Nov 21, 2023 8:40pm
No idea on timing other than that the goal is to produce the report in 2024, from the last PR. I don't imagine we'll get an update on the commencement of the work on the report as truly that work is the accumulation of the work that's been done on the Ishkoday since day 1.  The way I look at it the groundwork for the MRE started many years ago. My understanding is that once the ...more  
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