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Bullboard - Stock Discussion Forum Laurion Mineral Exploration Inc. V.LME

Alternate Symbol(s):  LMEFF

Laurion Mineral Exploration Inc. is a Canada-based mid-stage junior exploration and development company. The Company is engaged in the acquisition, exploration and development of Canadian gold and base metal mineral resource properties. It is focused primarily on its wholly owned 57.43 square kilometers (km2) (14,191 acres) flagship brownfield, Ishkoday Gold and Polymetallic Project, located... see more

TSXV:LME - Post Discussion

Laurion Mineral Exploration Inc. > Takeover question
View:
Post by Simplelife on Feb 13, 2024 6:28pm

Takeover question

Hey Doug reading through information on Lme I understand that has been at least 1 offer over the market price in the past which was unsatisfactory thus didn't go anywhere. What is the criteria nessessary for shareholders to have be involved in the voting process? Can Lme management basically say no to everything they find unacceptable and unless they say maybe then we vote on things? Enlighten me on what are the prerequisites for shareholders to be involved in the voting process?

thanks
simplelife
Comment by DouglasGVass on Feb 13, 2024 8:00pm
I am unaware of any offer that was presented in the past and I believe this is an unfounded rumour.  Any written offer presented to the company must be announced to all shareholders via a PR.  I don't know what the voting process looks like but at some point after an announcment there would be a vote.
Comment by fatlas on Feb 13, 2024 11:45pm
The FAQ published last summer says that previous interest in LME was expressed in dollar terms higher than the Aug 1 stock price ($0.43-ish). Not sure if that qualified as a formal offer but the point was made and reinforced by your predecessor.   I think I speak for all of us shareholders when I ask that you confirm the accuracy of that statement in light of you apparently not being aware ...more  
Comment by keen2know on Feb 14, 2024 7:34am
An early facepalm for Doug.  I said before when Steve was first appointed, this role is pointless. Risk of causing more problems than it solves. Zero credibility for Doug when even the most casual followers know about the previous offer.  I also said before, if LME is bought out, then the 250k options to be worth multiple millions for some casual uninformed posts on a forum for a few ...more  
Comment by Thebluestroy on Feb 14, 2024 9:09am
Yes, wish they used a small amount of cash on a monthly basis for things like this instead of obnoxious amounts of options. It seems like they are helping out large investors/friends more than anything and I mean no disrespect to Steve or Doug. Just don't think its necessary at all. 
Comment by Lambosntendies on Feb 14, 2024 10:15am
Guys let's not be harsh towards Doug. We're all on the same team. Let's not forget he is our liaison to communicate, not the enemy. Cynthia is too busy so we have the opportunity to use Doug as a conduit for communication.  Mistakes happen but grace never seems fair until you need some! With the previous offer of 0.43ish cents on the fact sheet we'll not everyone has time to ...more  
Comment by Lambosntendies on Feb 14, 2024 10:37am
Well everyone.. it seems I made an error as well! I wrote " previous offer of 0.43ish cents" But i meant to say "previous offer of OVER 0.43ish cents" as per the Fact sheet which states "Interest directed at LME’s Board of Directors previously has been at a premium to the current average market share price (as of August 1st, 2023). " Thank you to a user for ...more  
Comment by BidingTime on Feb 14, 2024 9:26am
Doug welcome to your new role - our interests are aligned in that all shareholders look for a great outcome for LME. With respect to the Special Committee and USCG engagement, which were undertaken to assess a specific transaction opportunity, press releases at the time of the Annual Meeting indicated that their work was nearing completion. Since then silence. If that opportunity did not proceed ...more  
Comment by BidingTime on Feb 14, 2024 9:39am
...the remainder of my question - otherwise, should shareholders expect that the evaluation/negotiation of a specific transaction is ongoing. Thank you, and again, welcome to your new role.
Comment by Wmaver on Feb 14, 2024 10:03am
Just a random person interpretation, But they are only loosely connected.  The USCG was brought in board to help facilitate a deal whe  it comes.  And the work they were almost done was their own internal due diligence.  The special committee was formed becuase they wanted to have something in place to review and discuss IF a buyer.wanted to step up and move along. So there ...more  
Comment by DouglasGVass on Feb 14, 2024 11:36am
The Special Committee and arrangement with USCG are still in place and remain active.  The exit strategy of the company has not changed.  Buyouts of junior exploration companies are very complex and do not happen "overnight."  Be patient and trust the process.
Comment by DouglasGVass on Feb 14, 2024 11:28am
Goodmorning LME'ers!  Please remember and respect that I am on Pacific time while many of you are on Eastern time.  I understand that I have to earn your trust and I am ok with that.  I will however ignore the slander and negative comments as they have no place or recognition in this forum.  This is a medium for fact-based discussion.  The majority of us are ...more  
Comment by fatlas on Feb 14, 2024 12:06pm
Thank you for the clarification Doug - much appreciated.  We were lucky to have Steve and now lucky to have you - I hope my comment and question did not come off as negative or aggressive - just wanted to point out what I thought was discrepancy before people saw it and misinterpreted it.  keep up the good work!
Comment by DAM$ on Feb 13, 2024 8:54pm
No they DO NOT HAVE TO ASK US if they can turn down an initial offer (Mainly because we DO NOT have the knowledge to know a good or bad offer). The following is from the GBR Management Circular after their agreement was announced Dec. 8 2021. “From 2017 to 2021, Great Bear was approached by several precious metal producers and financial investors wishing to learn more about the Dixie Project. The ...more  
Comment by DouglasGVass on Feb 13, 2024 9:06pm
Great info DAM$. Thank you for sharing!
Comment by Pasta86 on Feb 14, 2024 7:37am
Great info as always DAM$!  One thing that stood out for me is "Events leading to the initial unsolicited proposal by Kinross and Party 1 Great Bear and Kinross Representatives met to discuss the Dixie Project in March 2018 at the Prospectors and Developers Association of Canada conference in Toronto, Ontario. " and Cynthia and team sudden visit to VRIC and AME recently.  At ...more  
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