Laurion Mineral Exploration Inc. V.LME

Why are they not drilling?

[Smitty64]

I know a lot of people on this forum like to take the optimistic approach and play games like “Let’s guess the buyout price” and “What will you do with your payout”….unfortunately I’ve had the rug pulled out from under me too many times, so I have to play the game, “until the money is in my f ckin account, nothing has happened.”

Guys, why have they not announced the start of this year’s drill program? As we know the drilling season that north has a small pocket. Also, the next AGM is just over 2.5 months away (assuming a same date). Since the last AGM they have communicated they will be executing a small drill program of their most fruitful areas – why has this not begun/happened/announced?

I know there will be a lot of replies along the lines of “it’s because they’re currently in negotiations, etc” but I can’t be the only one who is a little worried we may be much further off than most think – or that their preliminary efforts to locate the “fruitful” areas are failing so they’re forced to continue to prospect the land….

Roger is no longer active on FB (in regards to Laurion posts), Cynthia posts relatively repeated photos of prospecting/surveying and there hasn’t been a concrete PR in over a month. I feel the next PR will be very telling in either a very good or a very bad way…
 

[matlas]

I think that there can only be one answer that makes sense: BECAUSE THEY DON'T NEED TO! Why else? It is not as though they don't have the funds to do it. Furthermore, since they originally planned to do some, it is reasonable to assume that they had the drilling rig linesd up. The suggestion that there would not be an locations worth drilling makes no sense at all. The only explanation

[matlas]

Also, I think that there is another clue here. If you look at the recent pics that Cythia has posted on Linkedin, you will see that she is doing field work with a geologist named Richard Cote. Unless I am missing something, he was never visable until a couple of days ago. Why is she not with the usual members of the crew? My guess, they are busy working with and assisting a crew that works for

[Neil68]

Hate to disagree matlas, but I understand Richard Cote is a "prospector" not a "geologist". Google him in Beardmore. Also, he has been present in dozens of photos over the past couple years.

[matlas]

Judging from post on Linkedin, he is a geologist too. The two are not mutually exclusive. Sorry if I have missed him in the past.

[KaBams]

I think I read somewhere Lme is waiting on permit expected date for issue is mid aug. For channel work blah blah I forget. as far as drilling goes why are we sure this is not happening. I am not suggesting I think they could be. They said they would, perhaps they are waiting for other permit and get all done at once.

[KaBams]

https://ero.ontario.ca/notice/019-5870

[matlas]

That was posted in August of last year, and cut-off for any comments was a month later. I am sure that any required permits would have been issued months ago.

[TraderRC]

 Checked the link, that was for a permit in 2022. I searched Laurion on the site, found another permit with the recent  decision on July 7, 2023, as follows: "The Director of Exploration has made a decision on the exploration permit application PR-23-00084 to Laurion Mineral Exploration Incorporation for early exploration activities . The decision is to: issue the mineral

[matlas]

I can't say I really understand what that all means, but I find it hard to believe that an experienced company like LME that has been doing this kind of thing for many years on many occasions would be delayed from doing any drilling that it wanted to do as a result of waiting for a permit. They would have sorted that out so as to allow them to do drilling when they wanted. Originally was

[TraderRC]

On my limited and quick review of the permit, I noticed that the approvals are for three year and can be renewed. They could be drilling off the older permits. The one I saw was for this year. With the time frame required for approval, this was started some time ago and not a last minute thing.  In any case we can speculate all we want, are they drilling, do they have a buyer in place...we

[matlas]

Right, but I think it should be pretty clear that, assuming they are not drilling, the reason is not that they are waiting for any permits. I suggest that the reason is what I have posted previously.

[TraderRC]

Matlas, your post are usually on the ball, no need to disagree with you at this point.   If anyone  doesn't agree with your reasoning, they can hit the SELL button. 

[KaBams]

Yea I posted wrong link. But I am sure I saw one postpone till aug mid about channel something