Laurion Mineral Exploration Inc. V.LME

Kinross Gold lifts Great Bear inferred resource by 45%

[BidingTime]

https://www.mining.com/kinross-gold-lifts-great-bear-inferred-resource-by-45/

[ahsineeg]

This is great news.  Just goes to show you that what's in the reports is very conservative and can only be expanded with more drilling.   Speaking of our report, we really should NOT be trying to infer any quanity of gold / mineralization from it.  As the report says, more drilling needs to occur before that can happen.  I ran my own set of calculations based on the method

[BidingTime]

Please share your math! We're all keenly interested I'm sure

[ahsineeg]

Calculation below.  BUT as the report clearly states... "The grade and tonnage values are conceptual in nature and should take as a range of possible grades and tonnages present on the property. There has been insufficient exploration to define a mineral resource."   The report is a step 1, and a very imortant step to demostrate that everything LME has done until now has been

[Not2smart]

Ahsineeg,   would there be more information/info that we the general public would be able to see. As they have said along.  The data room.   Could these numbers be higher ?   Or is this report and what buyers would also see.   Just find it hard to believe that we only have average of 2 mill oz of AU.

[Thebluestroy]

Heck, 2 million ounces of gold at $250 per ounce is still $500m... the market cap is $118.51m currently $500m/$118.51m = 4.21 x .45 (current sp) = $1.89  But I feel like since the 2023 drill results + some historical data arent invclusive in these calculations its likely higher.  Hopefully we can infer 5+m GEOs  and see a SP of $3.50+ 

[GoGoWings]

2 bucks. All the data is right there.  N we should be happy with 2 bucks.  great return.  next owners who pour 100 million in with drilling will make the 8-10 bucks per share but it will be private by then prob.

[Lambosntendies]

No. Cynthia won't leave that kind of money on the table. 

[GoGoWings]

property needs 9 figures invested or a decade at the pace its on.  cynthia can afford neither. 2 bucks is a huge win

[JoJoHairBlo]

The thing that I have a hard time wrapping my head around is that an investor put up $2M in PP money at $1.05/share in 2022 with warrants at $1.15/share. Tax implications aside, do you think this person would risk all that on a junior miner, in this economic climate, to not even double their money?  I would think that Cynthia would have made this person had all the pertinent info to make an

[JoJoHairBlo]

...also, the person with the Twin Falls 10 sq km property adjacent to the Ishkoday.  Im not sure he/she would let that property go for 142 857 shares if he thought he'd only be banking $300k out of it.

[GoGoWings]

$2mm PP at after tax cost of $940,000  Mature at $3.5mm in under 2 years.  You don't think dats alot?

[ilovexau]

I don't want to be a drag, but specific to this comment, I am 99% sure this is free or close to free money for the investor. the flow through shares are bought and in return they get the flow through tax write off, so they essentially get those shares for very little capital outlay. So whether the stock price goes up or down, it's still a win in the tax department, and their net cost per