RE:RE:For what it's worth...Team LME
As per the comments linked to this post, below is my message that was referenced.
The only minor adjustment to my point of view is the move from a part time CFO to a full time CFO. I would have preferred a better narrative from LME to explain the reasons behind the change but in reality the CFO switch has no bearing on the fundamentals of the company.
I encourage readers to think in terms of a potential buyer and ask yourself if the stock price of an asset sale such as LME has any bearing on their purchase decision. The answer is of course no, it does not matter.
Let's not fuss about the short term stock price gyrations that come and go with the fast money speculators.
The asset that counts is in the ground and has not gone anywhere in the past week.
Neither will I. I remain long on LME.
Here is my note:
Team LME,
With the AGM in the rear view mirror I remind everyone of the sum of the LME parts. These parts have not changed since yesterday and as such I remain positive and long on my position.
In no specific order the LME advantages include, access to roads, water, hydro, a local skilled workforce, long term land leases, permits in place, a 43-101 completed above ground pile with defined Au from the original shaft, studies underway on how to potentially monetize the pile and the 2 high grade 17.00 g/t Au past producing underground shafts, plentiful easy to access mineralization at shallow depths along a 6km x 2.5km strike, a 100% success rate at finding gold, silver, copper and zinc for all drill holes completed since 2018, high % of shares owned by management / friends and family, good long term relationships with first nations partners, a stable location and political environment that supports mining, and best in class third parties performing key activities on location - Mira Geoscience, Ronacher McKenzie and now DRA Global.
These facts add up to making the Ishkoday a unique property and should be kept front of mind regardless of short term stock price movement after the AGM.
Eventually LME's managements discussions with senior producers, private equity or others will produce an offer that is compelling enough to put forward to shareholders.
Until then, the facts above won't change and neither will my long position. I have been long since 20 cents or so.
If there is a better opportunity in the junior exploration space I have not been able to find it.