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.

TSXV:LME - Post by User

Laurion Mineral Exploration Inc. > Narrow widths

<< Previous

Bullboard Posts

Next >>

Comment by ahsineegon Sep 04, 2024 2:21pm

234 Views

Post# 36208393

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Narrow widths

The latest financial filings came out on SEDAR+ Aug.8, 2024 at 17:12 EDT.

As at June 30, 2024, LME had:

$6,312,519 cash and cash equivalents

$2,523,446 restricted cash (can only be used for qualified mining exploration expenses)

TOTAL CASH and equivalents was $8,835,965 on June 30, 2024

Also of note, LME has receivables of $351,514. This consists of a GST/HST refund of $160,414 and interest income receivable of $191,110.

This effectively increases LMEs cash to $9,187,479.

On November 19, 2024, LME will receive an option payment of $90,000 cash and 31,500 shares of Canada Nickel Co (current share price $0.98) with a value of $30,870.

It's hard right now for juniors to raise money. I am thrilled that LME has been able to keep their war chest full and execute targeted exploration. It's easy to go spend a bunch of money and drill holes everywhere. Showing discipline with your exploration and drill programs is something we should all be pleased about. It makes me sad everytime I read about a company getting scooped up for cheap simply because they ran out of CASH. With effectively $9.1 million in the bank and 72% insider (and friends/family) ownership, LME is in control of it's destiny.