Laurion Mineral Exploration Inc. V.LME

GBR buyout comparison

[GoldBelt]

a lil napkin math while at lunch...I think this math has been done by other posters before

do I see any similarities in the stock activity between LME AND GBR...no....two different beasts because of the high insider/friends  holdings makes LME more like a private company ... and it's not promoters or in the news like GBR....some say Kinross overpaid for GBR...it remains to be seen....but they did do an MRE 

https://www.kinross.com/news-and-investors/news-releases/press-release-details/2023/Kinross-announces-robust-initial-mineral-resource-of-2.7-Moz.-indicated-and-2.3-Moz.-inferred-for-Great-Bear-project/default.aspx

so with the MRE of 2..7M Oz indicated at GBR...and the purchase price of $1.4B Cad...not including the additional cost of drilling since the deal etc...Kinross essentially paid ~ $520/oz when gold was avg $1800....now gold is approximately $2000 so 10% higher.  Much of their land is still unexplored .

if LME has 10M GEO....and buyer pays $500/oz with or without MRE...that's $5B ...with ~270M  O/S... gives us $18.50/share CDN and much of land still unexplored 
but with the intial strike zone estimate containing 10M Oz...and that strike zone has expanded considerably....the price could even higher

still holding/hoping

[JoJoHairBlo]

They did the MRE after purchasing the property.  Kinross only had the data that GBR had (maybe some of their onw), so it is unlikely to think that Kinross knowingly paid $500/GEO.  Also the MRE you mentioned was only the initial.  I'm sure that Kinross plans to do more/find more as the go, which will ultimately bring down the $$/GEO in the long run. But I do like the sound of

[Thebluestroy]

Would be amazing, my one question is: Who has $5B in cash laying around for an acquisition. I remember someone here posting the big boys financials earlier and it didnt seem like many at all had the cash to do this type of deal, it would need to be a combination of private equity on top I think. 

[GoldBelt]

I previously posted gold majors cash balances for use in purchases. If LME is indeed involved in a transaction I believe it'd be joint venture between majors and /or private equity 

[TraderRC]

If I did it right, this should be a link to Goldbelts post: https://stockhouse.com/companies/bullboard?symbol=v.lme&postid=35673438 Fingers crossed it works. TraderRC

[Thebluestroy]

Awesome, thanks I knew it was posted the last couple months.