Laurion Mineral Exploration Inc. V.LME

Alternate Symbol(s): LMEFF

Metals & Mining Gold

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.

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Comment by ahsineegon Feb 23, 2024 7:44am

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Post# 35895100

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Wall

Lambo - According to a post on reddit, Insiders/Friends/Family have decreased their total share count by 20 million shares. In July 2022 Insiders had about 208 million shares and by January 2024 they had 189 million shares.

Will repost what was on reddit here. Reddit Comment Link

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It seems like the general problem is that the Insider didn't report his transactions in a timely manner. Yes, we knew he intended to sell some of his shares because of the PR put out by LME, but we didn't know how many shares and at what price.

Based on LME PRs, Insider and Friends/Family ownership has decreased over time:

July 2022: 82% of about 254 million shares = insider/friends ownership of about 208.2 million shares https://www.newswire.ca/news-releases/laurion-announces-annual-and-special-meeting-to-be-held-on-september-28-2022-and-provides-corporate-update-897632510.html

November 2023: 80% of about 263 million shares = insider/friends ownership of about 210.4 million shares https://www.newswire.ca/news-releases/laurion-provides-update-on-corporate-activities-and-strategic-objectives-876935408.html

January 2024: 72% of about 263 million shares = insider/friends ownership of about 189.3 million shares https://www.newswire.ca/news-releases/laurion-confirms-the-extension-of-the-sturgeon-river-mine-mineralization-by-600-metres-to-the-northeast-with-grade-intercepts-as-high-as-29-45-g-t-au-over-3-5-metres-including-186-00-g-t-au-over-0-55-metres-826521379.html

-Recently, insider/friends ownership has decreased by over 20 million shares.

-Total share volume (all exchanges from end of August 2023 to yesterday (Feb 7, 2024) has been about 20.4 million shares.

-Clearly insiders and friends are starting to unload / trim back their share holdings.

-a Director willfully ignoring the law, and not reporting his transaction in a timely manner is something we should all be concerned about. I don't care that he sold shares (he can certainly do that) I care that he didn't tell us how many shares, and what price, and on what day, until he was questioned about it on a stock forum.

All this really makes you wonder what other insiders/directors could be selling shares? I know that people say that Nick leaving the board removes his shares from the friends and family and insider count, but he only had 6.8 million shares. The numbers don't add up....other insiders have been selling.

Lambosntendies wrote:
Hey Doug something with the friends and family ownership isn’t adding up to me and I hope you can help me understand. You said in the last two years less than 0.5% of fandf holdings were sold. Fandf ownership dropped substantially over the last year. At the beginning of 2023 we had roughly 263,000,000 (I am slightly rounding to even numbers for simplicity sake) shares fully diluted at fandf ownership of roughly 80%.

During the private placement the total float was diluted by just over 5 million or so but the fandf dropped to 72% while the total outstanding shares went up to roughly 276.6M.

80% of 263M works out to roughly 210M shares owned by friends and family

72% of 276.6M works out to just under 200M shares owned by friends and family

This implies 10M shares were sold by friends and family between the 2022 & 2023 AGMs respectively which works out to closer to 5% of their total holdings sold (based off of their holdings of 210M)

0.5% of friends and family would not be overly concerning but 5% plus the shares that have continually been sold by Michael raises some valid questions and concerns.