RE:RE:RE:RE:RE:RE:The Lassonde CurveThe numbers are coming from other mining transactions using like size, geography and other parameters. My original intent was not to try to quantify a number, it was to determine where Laurion is positioned in the lifecycle and what that means for an acquisition. The Greenstone is is in the same geography and as it was recently sold it is used often and I think what @Planthouse is basing his numbers on.
The main difference between the Ishkoday and the Hadrock is the amount of drilling that has been done is a similar size strike zone. At the time of the sale the Hadrock had an MRE based on 696,125m of drilling. The had measured, indicated and inferred numbers for the entire strike zone.
Laurion isn't going to drill that much. They are approaching the problem in a different way, If you read the Laurion Corporate Presentation (and you should, often as it turns out.... as it gets updated without notice...Doug?). Regardless, it answers a lot of the questions I see posted here.
The strike zone has identified 5 mineral deposits. Five unprofitable mines does not equal one profitable one. Laurion's value does not come from the gold on the Ishkoday. It comes from de-risking the construction of a mine on the Ishkoday. That is the biggest question...where does one put the mine?
The phrase "Maximum Shareholder Value" is mocked here and it is unwarranted. The easy thing to do is to dillute the existing shareholders and/or take on debt/partner to raise the capital and drill the whole thing, do an MRE and sell it. Maximizing shareholder value is using each dollar cautiously and to it's maxmum benefit. They have studied the Ishkoday and modelled it. They have tried to understand the geneology through thousands of years. Last year the drilling went back to the Sturgeon River Mine area and those assays had some of the highest values. I re-read the Corporate Presentation today and noticed they are planning a 7000m drill program in 2025 with more infill drilling in the same area. This is the area where two shears intersect and where they anticipate a good chance of clustering and high concentration. This is a positive. If they release a MRE of just the Sturgeon Mine Area, it will be significantly smaller than the Ishkoday as a whole, but if they release a positive feasibility report...
Much of the Ishkoday is a frisbee. That's what my dad would call a house that was bought to be torn down.
There won't be an MRE for the Ishkoday. Not while Laurion owns it. In that I agree that trying it value it that way is near impossible but that isn't the goal.
TLDR; It's the derisking not the counting.