Liberty Star Uranium and Metals Corp (LBSR)

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I have to come clean. I have never lied about anything here, but I have to tell you something that you may not know about this company's uranium claims. Uranium spot pricing is not where it needs to be, and it will take several years at the least til it becomes commercially viable in terms of production. I have tried to hedge people away by stating that the uranium claims are not to be considered currently. There is a little(major) twist there.

You see, almost exactly one year ago, Ken Salazar called a two year time out from New Mining Claims on the Arizona Strip. Simply stated, no new mining claims in the area surrounding the Grand Canyon. He will decide by 2011 whether to extend this for twenty years. That means there will be no new mining claims in this area for another twenty years. This area is known to contain 12% of Arizona's Uranium.

There are just about 10,600 claims in that proposed area. Liberty Star Uranium holds 1794 of them(17%). Here's a brief:

"Under the Secretary's conventional withdrawal procedures, the two-year segregation has essentially the same effect as a withdrawal -- it would prohibit new mining claims in the designated areas. Neither the segregation nor any withdrawal, however, would prohibit ongoing or future mining exploration or extraction operations on valid pre-existing claims. Those activities might proceed during segregation and any withdrawal. About 10,600 mining claims are located in the proposed withdrawal area and several current uranium mining operations await State of Arizona environmental permits. Neither the segregation nor the proposed withdrawal would prohibit any other authorized uses on these lands"

You must note that it will not prohibit exploration, or mining(extraction)for pre-existing claims. this is the segregated area here:



I'm sorry if I kept that from some of you. I just did not want to shift focus, and frankly, I just can not take some of the childish behavior from a few. I hope I don't have to spell this out for some. Anyhow, chew on that over the week end.

here's a couple references:
http://www.blm.gov/pgdata/etc/medialib/blm/az/pdfs/withdraw.Par.89256.File.dat/Fact-Sheet.pdf

http://www.blm.gov/wo/st/en/info/newsroom/2009/july/NR_0720_2009.html