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Laurion Mineral Exploration Inc. V.LME

Alternate Symbol(s):  LMEFF

Laurion Mineral Exploration Inc. is a Canada-based mid-stage junior exploration and development company. The Company is engaged in the acquisition, exploration and development of Canadian gold and base metal mineral resource properties. It is focused primarily on its wholly owned 57.43 square kilometers (km2) (14,191 acres) flagship brownfield, Ishkoday Gold and Polymetallic Project, located 220 kilometers (km) North-East of Thunder Bay, Ontario, Canada. Its Ishkoday is situated in the Onaman-Tashota Greenstone Camp in the Irwin, Walters, Elmhirst and Pifher Townships located 25 km northeast of the Town of Beardmore, Ontario and 220 km northeast of Thunder Bay, Ontario. It holds a 100% interest in Brenbar, which consists of two mining leases covering 255 hectares contiguous and to the west of Ishkoday. It has a 100% interest in the Jubilee-Elmhirst, Beaurox and Twin Falls property. The Company also owns a 30% joint venture interest and Canadian Gold Miner Corp.


TSXV:LME - Post by User

Comment by DouglasGVasson Feb 13, 2024 12:22pm
272 Views
Post# 35877810

RE:Question for Doug

RE:Question for DougThank you for your question.  Your statement, "Normally companies that want to be acquired would be eager to disclose information of their asset, resources etc," is correct if you are referencing potential buyers.  LME is not withholding any information from prospective buyers.  Any interested parties sign a confidentiality agreement and then get full access to the data.  This is standard procedure in the junior exploration space.  When it comes to the investment community, generally juniors will hold their cards close.  Releasing an MRE isn't always beneficial to an exploration company as it historically sets a cap on the overall value of the reserves and yet often it is only a fraction of the "true value."  In essence you want your company to measured by the value of the "whole" resource estimate.  A prospective buyer won't just be paying a multiple for proven (measured) resources, but will pay a premium for probable (inferred) resources.  As the drilling campaign continues inferred resources are converted to indicated (measured).  Essentially, every day LME is drilling, the MRE is potentially increasing and it could be exponential so it doesn't make sense to "throw the cards on the table" before the "river card" is revealed.
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