Weekend thoughtsI found out about Laurion from a friend, who discovered it from his friend, who...well you know...
My friend has many more shares than I do, and I have a substantial amount (for me). If I consider the number of people who I have told, I would suspect that collectively they represent at least the equivalent of my holdings. This is true of my friend and probably his.
If you are the same, I imagine you may have have experienced some difficult moments and uncomfortable conversations the last couple of weeks. We are off 50% from the high, and I feel bad for people who invested off my recommendations at 1.00+. I don't know know about you, but my recommendations were not of the "Hey friend, as you are already a junior miner investor I suggest you look into LME to add to your well diversified portfolio" variety. More like "It's easy, just download Wealthsimple".
In these economic times, unrealized gains become hedges against inflation and rising interest rates. Watching your portfolio shrink and the hard realities of mortgage renewals, car loans and increasing food prices come together to create anxiety and panic. If your investments in Laurion (and otherwise) and keeping you up at night, I suggest seeking the advice of a professional advisor. Understanding and working within your risk tolerance level is key to long term wealth creation.
My friend asked me yesterday why I was posting as it seemed like I was looking for validation in my decision that I wasn't likely to get from a forum. He told me he has tried to avoid looking at the stock price and checking the forums of late as he finds it depressing. I think that is why I am posting. Looking for clues in social media posts, and trying to decipher the meaning behind language used like we are Taylor Swift fans IS depressing. Speculations of special interests holding the stock price down is not the kind of discourse I am looking for. I am not an analyst but I can google and I know my way around a calculator and if nothing else this forum has helped me identify the kind of investor I am.
Investing in companies that do not generate revenue is risky. Period.
So how do I value Laurion? It seems the people here and on other forums are using comparisons, and GBR's price per ounce specifically then applying some random factor to account for "mineralization at surface". As I have previously stated I think Greenstone is a better comparison and even if it is only a baseline it still represents almost a 400% return from the highest stock price of $1.14. I will have more to say about the Greenstone Project in upcoming posts but for now I will leave it at that.
The fundamentals for Laurion have been well documented in other posts and in the press releases from Laurion themselves. I won't reiterate them here, but they include they high ownership stake of the board and specifically the CEO, Cynthia LaSeur Aquinn.
I do not know her personally, but in interviews and in her posts I get the sense of her leadership. I think she is articulate and exact. I think Laurion is meticulously managed by her. In my work I have always appreciated the managers who got their fingers dirty. If you follow her on LinkedIn you know what I mean. She has transparently been documenting the evolution of the Ishkoday on almost a daily basis. The pictures show core cutting, labellings, environmental studies...all of which will be needed for the 43-101. For all the talk of Roger on this forum, I am surprised she doesn't get the same. Roger is as he himself has stated is "a 40 year Wall Street guy", take that as you will. For me, Cynthia is a leader.
-40 is an interesting temparture. It's the same in celcius and fahrenheit. It's cold. This is one of my favorite posts of Cythia's. It is from February of this year and is her view from the Ishkoday that morning. It's a good reminder to me of why I am here.
