Liberty Star Uranium and Metals Corp (LBSR)

[mstoneinv]

The Super Pipe Dream claims can not get permits for exploration, PERIOD, END OF STORY!

Briscoe will state that the claims are "grandfathered". One of the champions of due diligence was gullible enough to fall for that and repeats it. But grandfathering only means the claims do not have to be given up. Yup... you can keep them and keep paying annual fees but you just can't get permits for exploration or mining unless those claims had previous mining activity or had proven valuable mineral resources at the time of the moratorium.

"We have not found any mineral resources on any of our claims"

Currently there are no planned costs for the North Pipes Super Project unless commodity prices, specifically for uranium, increase sufficiently to make exploration financially tenable. The Moratorium on acquiring any additional land has also negatively affected the current investment climate for such work. However we have a letter agreement with Mr. Andrew Mueller to option our existing claims North Pipes claims to him for mining using his vertical bore technology. He believes this will make the Pipes exploitable.

The highlighted line above is is pure, lying deceit. The price of Uranium is irrelevant to whether permits can be issued. If Uranium shot up to $10,000 dollars per pound tomorrow, that would not make any difference in getting the required BLM permits. NO IDENTIFIED ORE X $10,000/LB still equals NO PERMIT. Now if ore resources had been discovered before the moratorium, then the price would be a factor if the higher price caused the "identifiable" ore resources to go from uneconomic to economic.