Laurion Mineral Exploration Inc. V.LME

Cash Position Getting Stronger

[ahsineeg]

Was just reading about some positive developments happening over at Canada Nickel (Article Here) and it reminded me that LME optioned our Midlothian and Doon property to them back in Nov 2021 and we have a series of scheduled payments incoming.

Sure enough, our next option payment is scheduled to come in on Feb 19, 2024.   LME will be receiving a cash payment of $60,000 as well as 21,000 shares of Canada Nickel (symbol CNC). Shares are currently trading at $1.46 so the 21,000 shares we will receive have a fair value of about $30,660.  Between the cash payment and shares received, that’s $90,660 being added to the LME treasury.

Another payment is scheduled for November 19, 2024.  LME will be receiving a cash payment of $90,000 as well as 21,000 shares of Canada Nickel (symbol CNC). Shares are currently trading at $1.46 so the 31,500 shares we will receive have a fair value of about $45,990.  Between the cash payment and shares received, that’s $135,990 scheduled to be added to the LME treasury.

The final payment is scheduled for November 19, 2025.  LME will be receiving a cash payment of $120,000 as well as 21,000 shares of Canada Nickel (symbol CNC). Shares are currently trading at $1.46 so the 42,000 shares we will receive have a fair value of about $61,320.  Between the cash payment and shares received, that’s $135,990 scheduled to be added to the LME treasury.

It's nice to have non-dilutive money coming in from monitizing non-core assets as we focus on our 2024 drilling/exploration campaign.

 

[Lambosntendies]

Nice to be making some money from a non dilutive source but sure I hope we're not around to see the 2025 payment (or even the November 2024 payment for that matter) come in! 

[GoldBelt]

Methinks they need this money to pay out USGC the $250k for  "THE DEAL"! It's sarcasm people relax! It's Friday / FriYay...another week of us waking up and checking our phones for THE DEAL has passed.  Enjoy the weekend with your family and friends :)

[Thebluestroy]

Nice. Cynthia's salary is covered with these.  

[Primpage]

Ahsineeg, previously you have shared some VERY informative information and you continue to do so. You once shared that data pertaining to timelines of historical M&A processes and we are well beyond what you had expected at that time. You have also shared that you think a/the buyer is acting "predatory" towards Laurion. In your opinion(not holding you over the coals) what do you

[TraderRC]

Great question Primpage.  I would also like to add one more to Ashineeg: With the timelines you shared with prior deals being long gone, when do you think a deal might be announced? Again, not holding your feet over the coals, just curious on your thoughts. Thanks in advance. TraderRC.

[DouglasGVass]

This is an excellent observation Ahsineeg and worthy of praise for Cynthia.  These numbers may seem isignificant to some of you but in the junior exploration space these cash payouts are meaningful.  Many juniors struggle to continue exploration activities because they run out of cash in their treasury.  LME has close to $9M in cash in the treasury and is earning interest on this