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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

Post by DouglasGVasson Mar 08, 2024 4:53pm
702 Views
Post# 35923683

Stock price and TRUE value...two very different things

Stock price and TRUE value...two very different thingsI understand investor frustration when you see the price of the stock dropping but this is NOT the time to "throw in the towel."  The company focus has not changed and everyday that goes by while Gold is pushing higher the TRUE value of your shares is going UP.  If the price of Gold was falling and the demand for minerals was decreasing it would make sense to worry.  LME is positioned perfectly in one of the most mining friendly regions in the world.  If LME's primary property was in West Africa, Indonesia, Mexico, or South America there would be reason to worry with geopolitical uncertainty increasing.  LME is one of the few "brownfield" exploration companies with proven gold reserves in Ontario or Quebec.  There are few prospects for feasible open pit surface mine candidates in Canada and LME is one of them.  Do you think that LME is a viable "take out" target for "Smart money" as they anticipate higher future gold prices and increasing demand?  Of course it is.  What might they be willing to pay?  I don't know for sure but one thing I do know is the last few juniors that were bought out for between $200-250USD per ounce of gold in the ground.  This price per ounce is determined by the spot price of Gold (currently at all time highs) and the estimated cost to extract (mine) the gold.  Argonaut Gold's Magino mine, next door to the Ishkoday,  just published their cash cost estimates of $1050-1200/ounce.  You do the math!  Have a great weekend!
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