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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. > Read Mgmt Circulars for direction
View:
Post by DAM$ on May 27, 2024 9:42pm

Read Mgmt Circulars for direction

Curious why all the complainers have this idea that the LME Special Committee and Cynthia are to blame for the deals not being done. (And get over your exaggerated selves because you are not that important that anyone is following you down the overthrow path.) In most transactions it is the buyers that decide whether to spend the money or pay the asking price. If the SC and Cynthia weren’t doing their job and took $2-4 then there would be something for everyone to complain about. They would also be open to being sued for not getting fair value and they would obviously be going against their Financial Advisor’s fairness evaluation or the FA would be sued to for bad advice. 

 

The 10 step M&A process that was posted here was from the Acquirers point of view. Basic steps are They decide what type of company they want to acquire, then look for companies that fit and pick the best ones for enquiries and work it down to the best one. Then make a non binding proposal and do in-depth due diligence and negotiate a deal and Step 7 is the hardest step. 

I bring this up as I’ve been asked where we are in the Step process and now where we are compared to Osino. After reading the Osino management circular I think it might be a great answer to the question I have been pondering about Why did LME announce the hiring of USCG and forming the SC. From everything I’ve read in circulars the SC isn’t formed until there is a serious offer on the table to be considered. FA’s are always hired when the deal is almost done so when USCG was announced I thought they were close to signing but they don’t normally announce the hiring so why this time. The Osino circular may point to the reason and that is to put pressure on the player at the table and do their duty of getting the most value for the shareholders. 

What Osino charged their FA with was finding more potential acquirers. 

“In order to assist with the evaluation of strategic alternatives, Osino retained BMO Capital Markets

and Treadstone Resource Partners (collectively, the “Financial Advisors”). Starting towards the end of 2022 and throughout 2023, the Financial Advisors contacted entities that, based upon their judgment and experience, with input from management, were considered to be logical potential counterparties” “At that time, the Board created the Special Committee”~ “to review and consider any proposals received by the Financial

Advisors.”

 

 

I still believe they are at the table but the step between getting an interested acquirer and getting a compelling proposal worth negotiating to a deal can take a year or more. See GBR’s circular and you will see that they signed  Confidentiality Agreements with 11 companies interested and received multiple proposals from others that were deemed non-compelling. (And not released to the Stockhouse transparency whiners). GBR signed the first CA with the Kinross on March 12 2018 and extensions on the agreement many times keeping it intact until they eventually announced the buyout on Dec 8 2021 after Kinross's 3rd non-binding proposal. 

 

I don’t hold to the thought that this will be rush through pre June 25 tax hike but I go back to the Easter in person meeting of Cynthia and the SC. What would they need to meet in person about other than the state of negotiations.  It is in the works and Cynthia not being in Beardmore is hopefully because she’s too busy working the phones. If she doesn’t show up in pictures soon, now that the areas are getting power washed, then it is probably very close to deal done as that is her happy time on the property walking freshly uncovered formations. 

Comment by Bracko on May 27, 2024 11:07pm
Watch her show up tomorrow on LinkedIn pictures  With her in the field with a pick axe!! Lol
Comment by Smitty64 on May 28, 2024 6:57pm
Hey DAM$, As always thank you for the detailed insight – always get excited when I see a post pop up from you. I’m glad we are using the Osino case study as our benchmark as the public announcement of the FA + Special Committee well before a BO aligns with (as it seems) LME’s strategy: In GBR circular, you state they signed a CA in 2018 and had 11 companies interested, then the buyout ...more  
Comment by DAM$ on May 28, 2024 7:28pm
GBR signed CA's with the 11 companies that gave serious interest and had several others that didn't reach the level of seriousness to be offered a CA to see the data.  By memory they didn't form a Special Committee until late 2021. I believe Kinross engaged one first.  I'll copy and paste the agreement steps later.  The deal gets done when it does but what else ...more  
Comment by JoJoHairBlo on May 28, 2024 7:40pm
If GBR entered into CA's beginning in 2018, then it was prior to their final $50M, 100,000m drilling campaign that began in 2019 and finished up in 2020. I imagine it's quite probable that LME has had several CA's themselves in the last couple of years with different organizations.
Comment by BidingTime on May 29, 2024 8:09am
What also adds credence to the significance of that meeting, beside it being announced on the first place, is the reference to the attendees meticulously planning next steps. Meticulous planning of finer points of the drill campaign? Not the right attendees for that. The necessary legal, structuring and disclosure steps for an upcoming transaction - that sounds more fitting (and compelling!). Of ...more  
Comment by GoldenBull999 on May 29, 2024 9:09am
As someone posted yesterday, if Cynthia starts showing up in photos at the ishkoday I think that will serve as a better indication that nothing is imminent...the longer she is off site, the better imo
Comment by keen2know on May 29, 2024 12:54pm
Hi Dams - a genuine question for you, at what point would you personally start questioning the management of LME and their methods?  Reason is that to use Matlas as an example, he would twist everything to a positive and be adamant that the deal was 'weeks away' and that was over a year ago. So I am curious as to what would change you as one of LME's strongest advocates mindset? ...more  
Comment by GoldenBull999 on May 29, 2024 1:25pm
This is a great question....whats the timeline for the super optimists to start losing that conviction...given we are already beyond the initial 3-5 year target set in 2018.... I know we aren't responsible for the other parties at the table but it surely rests on management to get a deal done either way.  It seems it doesn't matter what we think anyways as we can't vote to change ...more  
Comment by TheWrench55 on May 29, 2024 2:35pm
Dam$ isn't half as much an optimist as you are a pessimist.  If you've lost your conviction, you can always sell and find something better.  Are you really going to hinge your investment decisions on what somebody on forum says?  Dam$ doesn't have to answer this.
Comment by GoldenBull999 on May 29, 2024 3:21pm
Only here to stir the pot. Far too much optimism here for what is fact when it comes to sp and such. There must be balance. You don't think I'm fully aware that half the stuff I say is over the top nonsense? I'm allowed to be heavily invested here and still be overly critical of everything.   what matters to me: - not sticking to their own flexible deadlines - small drill ...more  
Comment by RBKgold on May 29, 2024 6:46pm
The only item as listed I'm concerned with is the small drill program. Why? and the reasons behind the decision are totally unknown. With cash on hand I'd be drilling like crazy! Other than that things are looking good towards a JV or a BO offer in the near future.
Comment by Emeraldearl on May 29, 2024 8:00pm
I didnt sell when it crashed 2 years ago and i refuse to sell for a 60 percent loss. This stock is gonna pay or be lost money and learning example to bet the farm on a speculative penny stock that have no value. they give shares of this company to people for moderating a forum. Its a hobby for a rich couple. They dont need money they already sail the world when they want. And dont get me started ...more  
Comment by Mattheu11 on May 29, 2024 10:38pm
The levels of vested interest for those heavy holders in management far exceeds what many on this forum hold dear to their pocketbooks. There is no doubt that this whale of a property will sell but not for pennies on the dollar. I firmly believe the time is near, but am a small fish in this pond. LME long
Comment by ProbGetBanned on Aug 27, 2024 10:18am
lol yep I was right
Comment by DAM$ on May 29, 2024 10:36pm
That’s a provoking question and not one that I want to contemplate as I don’t want to imagine that future. I question some of the management motivations but not whether they are right or wrong because I have never been the CEO of an exploration company, I  don’t have 40 years of mining experience and I am not at their table negotiating a multibillion dollar sale. I questioned why they ...more  
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