Laurion Mineral Exploration Inc. V.LME

Winter Drill Program

[TraderRC]

While we are on the drill results, wanted to ask Steve if he has any info on when the 2024 Winter drill program will commence and how long it will take to complete.
As per the PR from Dec:

• A two-phase drill program in 2024, consisting of a winter drill program of approximately 3,000 metres of diamond drilling, and a fall drill program consisting of approximately 3,500 metres.

As it has been quiet here lately, would be nice to atleast get an update on the first phase of the 2024 drill program.
Thanks in advance.
TraderRC

[tuscanybound]

Lets go with the concept and idea that any drilling will NOT be done on our watch; and the silence has been wonderful;  Waiting for the stock halt and Press Release!

[StevenHunter]

Talked to the boss.  Drills start turning in early March for the upcoming drill program on the Ishkoday. -Steve

[Smitty64]

Thanks Steve. As it was made clear the last drill program wrapped up in early December, can you please share the main deliverables and objectives during the 3 months between drilling programs? It seems like a long time to sit idle, especially with the current momentum. Thanks

[DAM$]

Drilling ended a month ago so not too idle when you take Christmas holidays into account. Considering they like to wait for the assay results to come in, Jan 12.  Only two weeks ago. Then analyze those results to determine where to drill next and then contract the drills. If they start in early March we are only looking at 5-6 weeks of sitting around. Lots of time for signing a deal so we won

[StevenHunter]

I can assure you that idle is not a word to describe the LME crew.  They are people so yes there are Christmas holidays and those went wonderfully.  The team attended that conference together as well with some family time mixed in. The planning for the next drill program is definitely informed by the results from the previous one.  That process is not a brief review that points to

[joar8888]

Steve I hope you can stick with us, your input is valuable to our sanity. Thank You

[StevenHunter]

I'll be very happily sticking around, just not representing LME.

[Thebluestroy]

I think it was very strange indeed that he came onboard for 6 months for no reason and nothing happened with the company, personally lol 

[fatlas]

I don't think it's strange at all. Everything he contributed to this forum (which I found very helpful by the way) would have either not been shared with anyone OR more likely, would have shared by Cynthia herself in countless (and repetitive) emails and phone calls with individual investors. Steve came on - freed up her time to do other things - and was very helpful. I'm going to miss

[Thebluestroy]

I just think it was strange to have a short period of time where investor relations on 1 random forum was a priority for a stock that is 80% f&f owned. Sure it could have freed up time for Cynthia to do what she was needing to do, but if thats the case, why not have something more permanent than a 6 month period of time where we have a representative in here. I had always thought they had

[keen2know]

I too find it strange that when share price doesn't seem to be a priority, they would bring Steve in to oversee this forum.  I also feel given a healthy bank balance, there really should be more drilling going on.  this rhetoric of Cynthia and the team being amazing, none of us truly know what's going on day to day. it seems to me like a lack of pushing this thing forward at

[Anthony13]

The way I see it USGC is looking for a buyer. The special committee was set up to take a look at any potential offers and that's that.  Mean while they will just carry on exploring.  Maybe they will come across a pear tree lol.  

[Thebluestroy]

Yea agreed on most things here. I also found it weird that Jean-Phillipe is working on a new project/company in a director role and was present at the conference under that banner, albeit im not sure how involved he is with LME outside being the qualified technical person? But no mention of LME under that business or at the conference itself. the $250k is indeed misleading, its basically a no

[NoRealPlan]

A low share price is to our benefit though, no? I wonder what price Cynthia wants for this thing? Like, was there an offer of $4/share that USGC and the committee was put together to review and the decision was made to not accept the offer but the buyer was told "let's drill some more and maybe you can increase it cuz that's not enough"? was it $6, $9? was it $7 with

[fatlas]

They've confirmed - and reconfirmed multiple times that they did have an offer north of the of share price at the time they said it. Forgive me - I don't know the number.  On the Steve thing - I remember all too well the slide from $1.07 to $0.30 - and am happy they cared enough to try and prevent it from happening again. I totally understand why everything is questioned - but

[Twiggie]

As a shareholder I am naturally invested in the success and growth of the company. However, being told to be patient and not seemingly being open with their communication is disheartening. I find myself seeking clarity in the overall management approach and structure. We all bought in potentially knowing it would be a long haul, but how long. It's seems that we get excited to only be let down.

[BidingTime]

Fair points - there are many positives to reflect on, but missteps or at least missed opportunities to communicate in a more timely and organized way. I suppose if I had to choose between LME being expert geologists and deal makers vs. PR experts, the choice is clear... Not for nothing, but SEDAR does not show any insider trading that was disclosed in the last press release. Did it not happen

[Talkstock]

Question regarding the previous offer. I think this information was officially disclosed aug 2023 through FAQ. My question is...shouldn't a publicly traded company disclose this information through a PR at time of offer/rejection. I am not criticizing their approach. Just trying to understand the tsx rules. 

[Wmaver]

There are MANY ways to skirt those. The wording was,  INTEREST directed at the board.....  so probably opens up even more Technical loop holes. I have never bought a company, lol but i hear that compaines get buy out offers all the time that go no where and no one outside the companies need to know about it. Kinda like when someone kicks the tire, but doesn't do anything, everyone

[fatlas]

Not an expert at all but I understand there are points in a deal's evolution that trigger and require disclosure - and disclosure of anything before those points are reached is very problematic.  Probably some judgement involved but I think the rules are far more restrictive than us laypeople assume. I wish they could tell us everything - but I think they are playing it close to the lines

[Thebluestroy]

$4 would be a 10x and everyone would be stinkin' rich anyways lol.  sign me up 

[Wmaver]

lol all the OG's on here are already at 10-18X their investment.... lol it never seems to be good enough. hey i get it, when we hit the 1$ i was 5x my first buys.....  was to greedy to sell any....

[Wmaver]

Well looking back, I think the reason is obvious.  There wasn't a sale on the horizon, and they needed to focus on some positive relation vibes to keep the sellers from panicking too much. Now that the realization has had time to sink and and stabilize,  even got past a director dumping 500K shares.  It's a good time to go back to focus on drilling and the MRE so we can

[Emeraldearl]

Thank you wmaver. There is way too much hopium in this forum and people need to be realistic. This isn't going to sell anytime soon and share price won't reach the highs we saw in the 2022 pump until everyone in this company is ready to lose their jobs and drastically change their lives from when they've been doing for the last decade.

[Soldsign]

Very smart and perceptive Wmaver! There is no fooling you! They even went to the trouble of hiring USCG around that time and handed them $250k just so they could fool us into believing that there was a deal in the works! How very devious they are.

[Wmaver]

Oh I have been fooled a time or two.... my buys at 1$ are proof enough of that..... Don't get me wrong I am full of hopium for what is to come.  But right now the regrets from those times I was fooled outweigh the hope.  At least I am still double my investment in my first LME buys.....

[Lambosntendies]

Lots of people bought in at $1+ or have a DCA over the current SP and that sucks but we're all grown ups here and chose to invest. Wanna complain?... that's your perogitive...  Roger posted the following on his Facebook this weekend and we should all take heed: "A man watches his pear tree day after day, impatient for the ripening of the fruit. Let him attempt to force the

[keen2know]

Forming a special committee holds too much merit with people here too. It would have taken no time or money to 'form' this committee which is just a couple of people already involved.  Further to the USCG refundable $250k, the theme is very clear. Anything that can be done without paying people , they will do. Share options for everything. Sooner or later that'll wear thin

[fatlas]

The themes ARE clear - we have a CEO who doesn't spend LME money (our money) needlessly - and those who are closest to this thing and arguably know more about it than us - USCG - Steve - in your examples - who I can only assume are motivated like all of us to have more money rather than less - enter into arrangements where they only get paid when good things happen to the company. They come in

[Thebluestroy]

We also have a CEO that dilutes "our money" every single year through PP meanwhile the SP stagnates so we actually lose in that regard every single year. Yes, people will argue we need that money to complete an MRE and more and more and more drilling BUT, would you be happy to hang on for another 5 years and get diluted by another 15%? It could be why there was a decline in F&F

[Golden7777]

But Roger said