LBSR/QUESTIONS ABOUT NORTH PIPES SUPER PROJECT
Every question you ask about mining the uranium is something that for now may stand in the dark. The price for uranium today is presently ranging in value, between $42 to $68 per pound. Uranium was as high as $168 over two years ago. Logistically, North Pipes Super Project is out in nowhere-land; so that roads and electricity needed to run the mine will raise expenses. Liberty Star Uranium & Metals has partnered with XSTATE RESOURCES LTD (XST:Australian Stock Exchange). You will need to examine the company to see whether they plan on mining the area. They have a 50% interest with developement of the North Pipes Super Project. Here is the financial data for Xstate:
Xstate Resources Limited Announces Audited Consolidated and Company Earnings Results from Continuing Operation for the Full Year Ended December 31, 2009
02/24/2010
Xstate Resources Limited announced audited consolidated and company earnings results from continuing operation for the full year ended December 31, 2009. For the year, the group reported loss attributable to owners of the company of AUD 372,643 or 0.68 cents per basic and diluted share against loss attributable to owners of the company of AUD 1,975,847 or 3.59 cents per basic and diluted share in the same period of last year. Loss from operating activities was AUD 428,592 against AUD 2,858,327 in the same period of last year.http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=XST:AU
While Xstate stock prices remain in Penny land, we need an announcement from Xstate Resources concerning the mining of uranium in Arizona. This is what we need to watch for. I am not sure if a mine plan is in the works, or Xstate stock would be much higher in price with better financials. In summary, we need a mine plan to exhibit answers to all of your questions.
Again, due the financial report, Xstate does not have the money to put forward in bringing a mine to fruition. Xstate Resources LDT went broke along with every other mining company when the U.S economy collapsed last year. As such, if a mine plan does come and money appears, all questions will be answered.
Still, the uranium is sitting there waiting to be mined; however, this partnership with Xstate does not help the picture. More research is needed on the North Pipes Super Project.
