Laurion Mineral Exploration Inc. V.LME

Press Release Jan/23

[goldfish4]

Plans for exploration.The planned exploration activity will focus on zones of potential concentrated mineralized structures as to generate the grade and tonnage necessary to be considered for potential development. From the press release Jan 20/23 . Yes they have found gold across the property from channel sampling and drilling but no tonnage. The metal endownment within this 2.5k x 6k corridor is huge, finding an area where it is concentrated enough to develop is another story, so far its been a hit and miss after drilling the best IP targets and veins to date, maybe the new drilling program will be more sucessful outlining an ore zone.  As Cythia has stated many times the property has the potential to hold up to 10 million or more geos, all they have to due is find a few million ozs in a concentrated area, this may take years of drilling to prove up a deposit that can be developed or it maybe a total bust,only the drill core will tell the story.

[DAM$]

Just going back over the assay results would give you a clue of what is in the Open Pit mine. Research would give you an idea of what is a good result. GBR's cutoff g/ton is 0.5 g/t so with that in mind here are the results from the assays I looked up.  Oct 25/2022    LAURION Intersects 2.55 Metres at 2.50 g/t Gold   Oct 18/2022   Intersecting up 5

[matlas]

So, based on your math DAM$, 10 million plus 16 million equal 26 million GEOs for the whole property. I think that is a conservative number. Then, even if only $300 per GEO, which I think is also conservative given all the  positive factors that LME has, that is $7.8 millon, which gives my $30/share.

[matlas]

Sorry I should have written 7.8 BILLION not million!

[Lambosntendies]

Loving your guys math and numbers! When you put it that way the kool aid doesn't seem like it needs to be mixed so strong! 

[matlas]

But, if you want to mix it a bit stronger, not that big a stretch to get to $10 billion. If you use $350/GEO, which many have used here, and figure that the number of GEOs could be a bit higher, we are there!

[Lambosntendies]

Love those numbers even more! The next biggest issue though is finding an entity with the kind of CASH laying around. They have been vocal about targeting private equity and family offices. Not saying that kind of money doesn't exist out there but the world of buyers gets pretty small pretty quick when you head into those kinds of numbers.  Thats what the good folks at us capital global

[matlas]

i don't think that the October drill results are going to change or decide anything Lambo. If they cannot find a buyer with the $$$ to buy at the current value, they are not going to find one that has the $$$ to buy at the even greater value that drill results would presumably show.

[Anthony13]

Matlas thank you for your informative posts they are much appreciated.  What's your opinion on them settling with some cash and stock if they bought buy a publicly traded company vs just an all cash deal if they it has been mentioned that is what they are lol for.  thanks in advance 

[matlas]

There are many comments on this that have been made over the months. As way know, their official stance, is no to that. However, as to whether they would give in on that at the end, I cannot say. I am sure that most of the folks on the forum would be good on that even if it mean having to take a bit of a hit if the shares taken back are blown after the BO. However, for Roger and the LME Board

[Lambosntendies]

That's fair, but I do think it is also possible that buyers are expecting Cynthia to PROVE the 10m geos. We know Cynthia had thrown this number out as a target so I'm sure she at least believes we have a propable or inferred value at that figure but a buyer may be holding out for those resources to move into the indicated or proven categories. Cynthia and the team have done an excellent

[matlas]

Right Lambo, but I still am of the view that if the October drilling was really that important in terms of proving anything to a buyer, they would have arranged to have it done months ago. It seems to me that once they did the helicopter survey, the drilling was put on the back burner.

[Lambosntendies]

That's a really good point as well, I know they had said hunting was a concern and delayed drilling. I'm not sure about the hunting season in that area myself but I know further south the hunting seasons does not start that early so that's always been a bit of an explanation I've been skeptical of. If the drilling wasn't delayed due to hunting why was it? Not a top priority

[matlas]

Not to mention the fact that the amount of drilling they have planned seems relatively small to me.. Hard for me to imagine that this is what would decide anything.

[matlas]

Also, if they thought that drilling was needed to satisfy buyer, has does that play into traditional timelines for bringing in Financial Advisor. and making announcement. they would be month beyond what the norm seems to be.

[Lambosntendies]

That makes total sense. I do believe we are on the verge of a buyout announcement but in the event we are wrong I'm just trying to temper my own expectations haha so thinking out loud here... what if the special committee and engagement of USGC is all pre-emptive on Cynthia's part? She'll have to do that when a buyer comes along (if they aren't engaged already) so why not get it

[matlas]

Unfortunately, those of us who were hoping to have Thanksgiving treat will be disappointed it seems. If there is no BO announcement by next week, I think it will be tough to have 2023 closing, and that would suggest not a priority (or just not possible).

[Anthony13]

We could still see an after hours announcement lol ... 

[matlas]

Or, for that matter any time of day with a cease trade order. But, judging from past practices, PRs have been in AM before trading, so I am assuming that nothing until Tuesday at earliest. Love to be wrong!

[newbie8484]

Well, we did get one last Friday at 5pm.  Let's go Cynthia!!

[Anthony13]

That would be one unforgettable Thanksgiving!! Let her rippppppp.... 

[Lambosntendies]

I'm not opposed to any announcement at any time for a buyout but I think they reserve Friday afternoons for "bad news" so people can digest on it over the weekend. If a pr happens again on a Friday afternoon for a split second I think my stomach will be in my throat as I read the headline! 

[Beaker1965]

More like snooze day Friday

[Timeandmoney]

Matlas, As per determinimg the price per GEO that someone would pay for the gold at the Ishkoday, below is a pull from the Gold Council's web page on the subject of all in sustaining costs. In Q1’23, AISC increased by 6% q/q to reach a record quarterly high of US$1,358/oz. This figure represents a 10% increase year-on-year. Rising industry costs since 2020 have been driven by

[matlas]

Hi Time and Money- I don't think you would add the $350 to the AISC. Remember, the $350 is a one time cost, whereas the AISC is an annual cost. I think that the real question is how do you calculate the price paid per GEO, which we are assuming is somewhere between $300 and $350. I would think that they would use an estimated amount for sale price per ounce over the life of the mine, and

[KaBams]

Pre 2021 Lme had reported insects of 192 g/t, 93 g/t, 53 g/t. All these drilling result are part of the public record. You can be sure more qualified people than us have seen them. For sure 192 g/t would raise some interest. After all these report the market cap is where it is at. The gold experts out there don't seam to believe in the 7 billion market cap idea. If they did they would invest

[matlas]

That's been the story of this company all along KaBams. Nobody really follows it other than the folks on this forum and we have bought to capacity. Add on that people are skeptical about BO based on what happened last year, and the stock stays at a depressed state. LME has stated that they do not want to resease resource estimates until after BO, so will not get any pop in price there. Great

[KaBams]

Matlas you are quoting Lme to have 10 million plus ounce  of estimated reserve. This is a major major find. You look up and see where would ranked then in Canada if true. And the position is all these major mining company, mining website etc are clueless. This is a big big task to believe.

[Wmaver]

To be fair KaBams LME is the one who set out to prove 10 mil GEO.... So not really sure why you are knocking matlas for repeating what Cynthia herself said.....

[KaBams]

I am not knocking Matlas I appreciate all his text. I do realize probably could have posted something not as a reply to him, so as not to be hit .Sorry. We must also realizethat major gold companies with billions of dollars in resources  and lwhere one of there major important tasks is to find companies like Lme are just incapable of doing it is a stretch.

[matlas]

Oh, you mean those major gold companies that have all been aware of LME over the years. Those major gold companies that would have checked out the LME data room if they requested. Those major gold companies that might have made offers that were rejected over the years because too low and/or involved stock Those major gold companies that might have a member making a deal with LME now as we read

[DAM$]

Our little unknown secret has been followed by every major for years as has been shown by posts from Cynthia's LinkedIn records. In 2018 the people viewing her posts were  31 people from Vale 30 people from Barrick 24 people from Kinross 24 people from Goldcorp  17 people from Newmont 16 people from Agnico 14 people from Anglogold 12 people from RioTinto 11 people

[KaBams]

That was kind of my original point dam$. That drilling results were public, professional have seen them. Given these two points, I find it very hard to believe that if any off the above listed expert in there field believed that a 60 return could be achieved they would not invest. sure those folks that have received non puplic info may have some restrictions, but these companies are much larger

[JoJoHairBlo]

Aren't the publicly available assays a small snippet of the overall picture?  You would get that from the data room. If one had access to the data room, I would think you would have to sign some sort of non-disclosure/insider-trading agreement that would prevent you from freely buying stock, no?  I would assume that from a legal standpoint, you would now be considered an insider

[KaBams]

When reading below to save me time and not repeat myself throw the phase "in my belief" or "my opinion" in front of most sentences. i doubt Lme could close a deal with only showing one company  drilling or assay result that are not public that would show meaningful extra non public reserve. They have a responsibility to the shareholders to maximize value. The extra in the

[gfdgdfgd]

How about viewing her posts now? 

[JoJoHairBlo]

Could you please ellaborate?

[KaBams]

I did not ever mention anything Lme had said , nor did I infer they have done anything wrong. My above blah was only my view of how current market plus some decent premium is more likely, that a 60x market capped on buyout. if is it 60x I will be very very happy person, but I will still believe there is something very weird about how this process done.