Laurion Mineral Exploration Inc. V.LME

When are we monetizing the surface stock piles?

[Jimo82]

Hi Ahsineeg, 

At what point are you going to push for the monetization of the surface stock piles? Assuming you're one of the key investors? Gold reaching new all time highs, why not take advantage and cash in a nice return? 

On October 2, 2018, the Corporation issued a news release providing an update on the status of the Stockpile Funding Project and confirming that negotiations were progressing positively amongst the principal parties. The Corporation is now pleased to announce that since the issuance of the previous news release, a new wholly-owned subsidiary of Laurion by the name of "Ahsineeg Inc." ("Ahsineeg") has been incorporated and organized in connection with the Stockpile Funding Project. Referred to as "Newco" in previous announcements of Laurion, Ahsineeg today acquired the Surface Stockpiles from Laurion in exchange for additional common shares in the capital of Ahsineeg. 

Following the completion of these key milestones, the relevant parties will now look to complete the remaining components of the Stockpile Funding Project, being the following:

(a)	The entering into of certain operating and contracting agreements by Ahsineeg, in regards to the Surface Stockpiles.
(b)	It is anticipated that the Investor will help further fund the processing of the Surface Stockpiles by completing an approximate $4.5 million investment in Ahsineeg (the "Newco Private Placement"). The net proceeds from the Newco Private Placement shall be held in escrow until: (i) a Preliminary Economic Analysis ("PEA") is completed in respect of the Surface Stockpiles; and (ii) Laurion and the Investor both consent to the release of such gross proceeds from escrow.

[DAM$]

Asked and answered very recently after DRA did their review it didn't make sense on a cost basis to bring in all the equipment to process the 190,000 tonne stockpile

[Toddsquad]

... I also understood that, with the gold spot price increasing, the economics/business case could be revisited.  Perhaps trucking the stockpile to another facility for processing becomes more viable as the spot price improves; not sure what the 'sweet spot' would be.

[DAM$]

And then we would have an extra $20M in the bank that the cry babies would say wasn't being spent fast enough drilling random holes results be damned. If it was viable or required then they have the know how to get it done.

[Toddsquad]

What I appreciate about LME is the strategic effort placed into precisely where to drill based on insights from new technologies such as ML (Machine Learning).  This approach helps to ensure that ~every hole drilled results in successful core samples that continue to fill out the database.  Rather rhen drilling (investing) in an 'old school' random drilling program, WE/LME are

[Soldsign]

Well said Toddsquad. I know everyone wants a sale now! I get it... the fox in the hen house seems to be feasting on our shares at the moment. I really believe we are very close to a buyout. The current SP does not matter. If it was 2 or 3 bucks would you sell. Most likely not. We are close to a nice pay day. Stay patient Lme longs. The smart money knows.  

[DouglasGVass]

Well said Toddsquad!