Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Investment Highlights
• Laurion Mineral Exploration Inc. is TSX Venture and OTCQX listed
advanced stage exploration company with aims to become a short to
medium term gold producer.
• Holds a 100% interest in two principal properties; Bell Mountain
project, Nevada, USA and the Sturgeon River project, Ontario,
Canada.
• Bell Mountain currently has a NI 43-101 measured and indicated
resource estimate of 9.76 million tonnes at an average grade of 0.526
g/t Au and 17.63 g/t Ag, hosting 165,018 oz gold and 5.53 million oz
silver. The project also has an inferred resource of 29,550 oz gold and
0.87 million oz silver.
• Strong potential exists for further resource growth.
• The historical Sturgeon River mine produced some 73,439 oz of gold,
and 15,922 oz of silver from 1936 to 1942, and has an extensively
sampled surface stockpile containing 9,464 oz gold.
• Recently completed a flow through financing of $820,000. The
company has sufficient working capital for the remainder of 2011.
Based on the current cash position, we believe the company will need
to pursue an additional financing of up to $2.0 million in the next 6 – 12 months.
