RE:New Press Release - Laurion Announces Proposed Non-Brokered Private Placement Of Flow-Through SharesDuring the last tranche of Private Placement units Steven Hunter had mentioned the buyer was the same buyer as the preceding 5 private placements. Side note: Finders Fees were associated with those PPs as well despite it being the same buyer.
Doug can you please confirm that this institutional investor is the same as the last several private placements? Also, the wording “its strategic partnership with US Capital Global Partners LLC ("US Capital Global") is advancing smoothly, with the due diligence process on the Corporation and its activities nearing completion” Is very similar to what we saw November of last year. Obviously, we have received the Technical report since then but it would seem that there is further due diligence to be done. Can you throw us a bone and give some more insights on this process and what exact due diligence has been done? (auditing/further validation of data etc.)
My theory – This is a potential buyer continuing to “leg in”. I believe in 2019 a foundational discussion was held involving metals house as well as a third party. Since then, they, and other buyers, have expressed interest in the Ishkoday but Cynthias asking price reflects a value that prospective buyers have felt is to high, meanwhile the Ishkoday continues to have remarkable potential to be a world class mine at some point in the future. I do theorize that this PP as well as the last 5 have been a buyer legging in (Doug could soon disprove that theory If in fact this is a different buyer than the last 5 PPs). I think they have faith in Cynthia and the Ishkoday holds strong potential, but the buyer want more drilling results or other validation before putting up the cash price that Cynthia is asking. They continue to leg in and aid the project with PPs as the drilling continues and we trudge closer to proving 10M GEOs and beyond, but they are not yet confident enough to pull the trigger on a full buyout. This is simply my two cents take it as you will.
The alternative is that whoever the buyer was at the table has walked or hit pause as we head into a climate of economic uncertainty for general markets but a new golden age for Gold (pun intended). I am not sure why they would pump the brakes now. Regardless, Cynthia is shoring up extra cash, if this is not a buyer legging in then any current or future negotiations will be done from an even stronger position of financial power.
In regards to the PP Cynthias holdings are diluted the same as ours so she is not doing this out of anything other than necessity, as to what the reasons for the necessity are we can only speculate at this point. One silver lining is that the PP is at 0.45, which is at least higher than the current share price.
On a side note: it does not appear the Michael Burmi has sold anything since Feb. 21, so hopefulyl the "insider selling" chapter is over and we can move onto an "insider buying" chapter followed by a nice high priced final chapter!
Until then, Cynthia will continue to slug through the snow, slush and mud with her little pick axe I guess. Excited for the day this finally sells and very intrigued to read the Laurion Mineral information circular once it comes out so we can have the full “behind the scenes” story.