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1. It is highly undervalued.
A. Potential Resources (GEOS)
\- Property of Merit completed Oct 2023 validating data. From this information a third party (USCG) stated "an estimated 2.5M ounces has been defined through drilling. Assuming $2,400/oz/ the estimated value of proven in-ground assets is valued at around $6 Billion." On or around October 2024. This was before gold was hitting $3,000 -$4,000/ounce. Today that same value of "proven in-ground assets" is closer to the $10 Billion mark. This number is only factoring in the 2.5M ounces defined through drilling. The same 3rd party who made these statements also said there is potential for up to 12M ounces total on this project. granted these are not ye defined but if and when they are those in ground assets would have a value of **$48 Billion** with gold at $4,000/ounce. Today the Laurion market cap is $113 Million. Obviously we will not sell for $48 Billion, you cannot have your cake and eat it to but the upside potential between our current market cap and even the value of in ground resources defined by drilling (as of 2023) is undeniable. Many have attempted to calculate buyout value in regards to price/share. I have long since given up on this endeavour as we do not have enough information to come to a concrete price estimate. I know that will not stop people from asking so for the record I have settled my floor price at $2.72 (CAD) – this reflects what I would consider a worst-case scenario with the projections I believe to be realistic in a buyout scenario being closer to $8-$12/share(CAD).
\-There is some gravy to add to this. These results do not account for drilling completed since the Property of Merit was completed in 2023. Laurions data room, along with the drill results since 2023 (remember every hole was a hit - adding to validation/expansion of the strike zone) shows this information in greater detail - unfortunately we do not have access.
\-And to add even more gravy - these numbers do not reflect silver, copper or zinc values that would add to total GEOS. 
B. By meters drilled - compared to peers
\-Laurion has completed roughly 97,779 meters of drilling and within the last several years all targeted holes have been "hits" with the strike zone now expanding to a 6kmx2.5km corridor. While some peers have completed roughly the same amount of drilling  they trade at multiples over LME with multiple drill results being on par with Laurion results from the 2023-2024 drilling campaigns.
\- While some of these companies are further along in the process of becoming a functioning mine their price and progression highlights a path that Laurion is moving down and from this we can see a clear picture of the potential near term stock price growth shareholders can realize as laurion moves through the steps of recieving the AEP, processing the stockpiles etc.
\[url=[https://postimg.cc/bdF3y8gH\]\[img\]https://i.postimg.cc/bdF3y8gH/gap.png\[/img\]\[/url\]](https://postimg.cc/bdF3y8gH][img]https://i.postimg.cc/bdF3y8gH/gap.png[/img][/url])
\[url=[https://postimg.cc/xqxJB1Rh\]\[img\]https://i.postimg.cc/xqxJB1Rh/Capture.png\[/img\]\[/url\]](https://postimg.cc/xqxJB1Rh][img]https://i.postimg.cc/xqxJB1Rh/Capture.png[/img][/url])
The images can also be found in the corporate presentation: 
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/[https://www.laurion.ca/\_resources/Presentations/corporate-presentation.pdf](https://www.laurion.ca/_resources/Presentations/corporate-presentation.pdf)
2. Cash in the bank and more in the ground. LME boasts a treasury with $7.5 milion ($1.5M in flow through) allowing for drilling campaigns for the next few years to be funded. A well ran and well funded junior explorer is a rare find in and of itself. LME checks those boxes with ease.
There is also gold in stockpiles that will be processed once the AEP is approved which will provide funding to do more drilling as well dewater the existing mine shaft and recover a significant amount of in-situ resources – 80,000 ounces in situ at $4,000/ounce is approx. $320,000,000. Please note this does not take into account processing costs etc.
3. Strong insider ownership – 73.6% owned by friends and family with retail holding 11% and institutions holding 15.4%. Cynthia and her husband alone own 30M shares out of the available 274M. They have significant skin in the game and until a sale is completed they will not be able to get paid. When they win all shareholders will win. This marks a strong devotion to the company and its potential.
4. Moving Down the (long) Home Stretch – There are multiple stages involved in building a mine from prospecting to production. Cynthia has a strong background in mining engineering and has worked with some of the top names in the industry. While there is still drilling to be done the Ishkoday project is at a pivotal point where a resource has been defined to a certain degree with attention looking to the future – not only laying the groundwork to becoming a producing but actually putting the puzzle together and getting to the finish line. As a mining engineer with considerable experience this is right in Cynthias wheelhouse.
5. DRA Global –
DRA Global Limited (DRA or the Group) is an international multi-disciplinary engineering, project delivery and operations management group, predominantly focused on the mining, minerals and metals industry.
The Group has an extensive track record spanning four decades across a wide range of commodities. Thousands of projects, studies and managed services solutions have been delivered through DRA’s projects business, and its operations and maintenance division currently operate more than a dozen sites.
DRA’s teams have deep expertise in the mining, minerals and metals processing industries, as well as related non-process infrastructure such as, water, and energy solutions. The Group delivers comprehensive advisory, engineering and project delivery services throughout the capital project lifecycle, from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and engineering services; all with a focus on sustainability and assisting clients to achieve their ESG goals.
DRA Global has been working with LME since 2022 at which time DRA was tasked with a completing a  techno-economic study to establish preliminary estimates of capital and operating costs of processing facility, including the application of ore sorting technology. The planned studies regarding the Ishkoday Stockpile Processing Project were expected to be stage-gated with the goal of producing a final Feasibility Study. It was confirmed that this work has been completed and after the complete of this Vikram Jayaraman (Senior Vice President of advisory and operations) was appointed to the Board of Directors for LME. He would not have chosen LME if he did not have a good reason to commit to this project.
6. Strong ties to Local indigenous groups - Active agreements (memorum of understanding) with AZA, BNA, and BZA First Nations and strong ESG alignment are not easy to come by but Cynthia has them in place already.
7. Some thing that we all know but still add value to this project include infrastructure advantages such as being located off of a major highway (11), close proximity to Beardmore, close proximity to power and water as well as on site-year round exploration accessibility.
8. IMG – John Covello is on the board of directors and has expressed interest via IMG in taking on a partner(s) to join with and buyout existing shareholders, in effect taking the company private. I think it speaks volumes when one of the very few people who has unrestricted access to ALL LME information wants to the take the company private at this stage. There is clearly significant money to be made.
The Bearish Side
As we approach $1 we will most likely see some outflows from existing shareholders. People who bought in at $1 will potentially sell as they have felt “trapped” since the run up and subsequent price drop after the previous offer that did not come to fruition. There are most likely some who will sell at 0.50 or 0.70 as they see those as exit points based on highs LME has made since its initial rise to $1 and drop to 0.27. Anyone selling into these numbers is selling based on fear and fatigue.
1. LME fatigue - disappointment that a deal has not come to fruition despite years with USCG and the narrative of a deal "soon". That said people (myself included) have imposed their own timelines on what "soon" actually means. To varying degrees we have done this to ourselves by having expectations that certain events will happen in our timelines. Patience is a virtue and Warren Buffett has proven in a significant manner than holding stocks both through the highs and lows pays off in the long run. Junior mining is a gamble yes, but please find a me another junior in this price range with higher insiders FandF ownership and a clear path towards becoming a mine that has taken the steps LME has taken thus far towards derisking. Cynthia has mentioned “blue sky potential” more than once in relation to LME for a reason.
2. Fear - fear that there are no buyers, fear that LME as a company will not succeed and fear that other opportunities are more lucrative. The LME team has taken multiple steps and is moving forward on multiple fronts – There are currently five financial advisors engaged with various duties to move this project forward and/or secure a transaction. People are not asleep at the wheel. If you FOMO out of LME and into something else… well it is funny how the grass always seems greener on the other side until you get there.
I remain very committed to this stock and think it is truly a diamond in the rough that up until recently has not been getting the attention it deserves. With a low float of shares available to the public the opportunity to get in at these prices can evaporate at any moment and with the potential upside of this project there are very few (nay dare I say no?..) reasons NOT to buy.

1. It is highly undervalued.
A. Potential Resources (GEOS)
\- Property of Merit completed Oct 2023 validating data. From this information a third party (USCG) stated "an estimated 2.5M ounces has been defined through drilling. Assuming $2,400/oz/ the estimated value of proven in-ground assets is valued at around $6 Billion." On or around October 2024. This was before gold was hitting $3,000 -$4,000/ounce. Today that same value of "proven in-ground assets" is closer to the $10 Billion mark. This number is only factoring in the 2.5M ounces defined through drilling. The same 3rd party who made these statements also said there is potential for up to 12M ounces total on this project. granted these are not ye defined but if and when they are those in ground assets would have a value of **$48 Billion** with gold at $4,000/ounce. Today the Laurion market cap is $113 Million. Obviously we will not sell for $48 Billion, you cannot have your cake and eat it to but the upside potential between our current market cap and even the value of in ground resources defined by drilling (as of 2023) is undeniable. Many have attempted to calculate buyout value in regards to price/share. I have long since given up on this endeavour as we do not have enough information to come to a concrete price estimate. I know that will not stop people from asking so for the record I have settled my floor price at $2.72 (CAD) – this reflects what I would consider a worst-case scenario with the projections I believe to be realistic in a buyout scenario being closer to $8-$12/share(CAD).
\-There is some gravy to add to this. These results do not account for drilling completed since the Property of Merit was completed in 2023. Laurions data room, along with the drill results since 2023 (remember every hole was a hit - adding to validation/expansion of the strike zone) shows this information in greater detail - unfortunately we do not have access.
\-And to add even more gravy - these numbers do not reflect silver, copper or zinc values that would add to total GEOS. 
B. By meters drilled - compared to peers
\-Laurion has completed roughly 97,779 meters of drilling and within the last several years all targeted holes have been "hits" with the strike zone now expanding to a 6kmx2.5km corridor. While some peers have completed roughly the same amount of drilling  they trade at multiples over LME with multiple drill results being on par with Laurion results from the 2023-2024 drilling campaigns.
\- While some of these companies are further along in the process of becoming a functioning mine their price and progression highlights a path that Laurion is moving down and from this we can see a clear picture of the potential near term stock price growth shareholders can realize as laurion moves through the steps of recieving the AEP, processing the stockpiles etc.
\[url=[https://postimg.cc/bdF3y8gH\]\[img\]https://i.postimg.cc/bdF3y8gH/gap.png\[/img\]\[/url\]](https://postimg.cc/bdF3y8gH][img]https://i.postimg.cc/bdF3y8gH/gap.png[/img][/url])
\[url=[https://postimg.cc/xqxJB1Rh\]\[img\]https://i.postimg.cc/xqxJB1Rh/Capture.png\[/img\]\[/url\]](https://postimg.cc/xqxJB1Rh][img]https://i.postimg.cc/xqxJB1Rh/Capture.png[/img][/url])
The images can also be found in the corporate presentation: 
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/[https://www.laurion.ca/\_resources/Presentations/corporate-presentation.pdf](https://www.laurion.ca/_resources/Presentations/corporate-presentation.pdf)
2. Cash in the bank and more in the ground. LME boasts a treasury with $7.5 milion ($1.5M in flow through) allowing for drilling campaigns for the next few years to be funded. A well ran and well funded junior explorer is a rare find in and of itself. LME checks those boxes with ease.
There is also gold in stockpiles that will be processed once the AEP is approved which will provide funding to do more drilling as well dewater the existing mine shaft and recover a significant amount of in-situ resources – 80,000 ounces in situ at $4,000/ounce is approx. $320,000,000. Please note this does not take into account processing costs etc.
3. Strong insider ownership – 73.6% owned by friends and family with retail holding 11% and institutions holding 15.4%. Cynthia and her husband alone own 30M shares out of the available 274M. They have significant skin in the game and until a sale is completed they will not be able to get paid. When they win all shareholders will win. This marks a strong devotion to the company and its potential.
4. Moving Down the (long) Home Stretch – There are multiple stages involved in building a mine from prospecting to production. Cynthia has a strong background in mining engineering and has worked with some of the top names in the industry. While there is still drilling to be done the Ishkoday project is at a pivotal point where a resource has been defined to a certain degree with attention looking to the future – not only laying the groundwork to becoming a producing but actually putting the puzzle together and getting to the finish line. As a mining engineer with considerable experience this is right in Cynthias wheelhouse.
5. DRA Global –
DRA Global Limited (DRA or the Group) is an international multi-disciplinary engineering, project delivery and operations management group, predominantly focused on the mining, minerals and metals industry.
The Group has an extensive track record spanning four decades across a wide range of commodities. Thousands of projects, studies and managed services solutions have been delivered through DRA’s projects business, and its operations and maintenance division currently operate more than a dozen sites.
DRA’s teams have deep expertise in the mining, minerals and metals processing industries, as well as related non-process infrastructure such as, water, and energy solutions. The Group delivers comprehensive advisory, engineering and project delivery services throughout the capital project lifecycle, from concept through to operational readiness and commissioning as well as ongoing operations, maintenance and engineering services; all with a focus on sustainability and assisting clients to achieve their ESG goals.
DRA Global has been working with LME since 2022 at which time DRA was tasked with a completing a  techno-economic study to establish preliminary estimates of capital and operating costs of processing facility, including the application of ore sorting technology. The planned studies regarding the Ishkoday Stockpile Processing Project were expected to be stage-gated with the goal of producing a final Feasibility Study. It was confirmed that this work has been completed and after the complete of this Vikram Jayaraman (Senior Vice President of advisory and operations) was appointed to the Board of Directors for LME. He would not have chosen LME if he did not have a good reason to commit to this project.
6. Strong ties to Local indigenous groups - Active agreements (memorum of understanding) with AZA, BNA, and BZA First Nations and strong ESG alignment are not easy to come by but Cynthia has them in place already.
7. Some thing that we all know but still add value to this project include infrastructure advantages such as being located off of a major highway (11), close proximity to Beardmore, close proximity to power and water as well as on site-year round exploration accessibility.
8. IMG – John Covello is on the board of directors and has expressed interest via IMG in taking on a partner(s) to join with and buyout existing shareholders, in effect taking the company private. I think it speaks volumes when one of the very few people who has unrestricted access to ALL LME information wants to the take the company private at this stage. There is clearly significant money to be made.
The Bearish Side
As we approach $1 we will most likely see some outflows from existing shareholders. People who bought in at $1 will potentially sell as they have felt “trapped” since the run up and subsequent price drop after the previous offer that did not come to fruition. There are most likely some who will sell at 0.50 or 0.70 as they see those as exit points based on highs LME has made since its initial rise to $1 and drop to 0.27. Anyone selling into these numbers is selling based on fear and fatigue.
1. LME fatigue - disappointment that a deal has not come to fruition despite years with USCG and the narrative of a deal "soon". That said people (myself included) have imposed their own timelines on what "soon" actually means. To varying degrees we have done this to ourselves by having expectations that certain events will happen in our timelines. Patience is a virtue and Warren Buffett has proven in a significant manner than holding stocks both through the highs and lows pays off in the long run. Junior mining is a gamble yes, but please find a me another junior in this price range with higher insiders FandF ownership and a clear path towards becoming a mine that has taken the steps LME has taken thus far towards derisking. Cynthia has mentioned “blue sky potential” more than once in relation to LME for a reason.
2. Fear - fear that there are no buyers, fear that LME as a company will not succeed and fear that other opportunities are more lucrative. The LME team has taken multiple steps and is moving forward on multiple fronts – There are currently five financial advisors engaged with various duties to move this project forward and/or secure a transaction. People are not asleep at the wheel. If you FOMO out of LME and into something else… well it is funny how the grass always seems greener on the other side until you get there.
I remain very committed to this stock and think it is truly a diamond in the rough that up until recently has not been getting the attention it deserves. With a low float of shares available to the public the opportunity to get in at these prices can evaporate at any moment and with the potential upside of this project there are very few (nay dare I say no?..) reasons NOT to buy.