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Is this wrong? JB drilled one hole on the border of LBSR/NAK property and several million dollars of debt to NAK was dismissed for that property?
And the results have never been released?
Thanks for any help in this.
It is probably someone from NAK who is giving those odds of finding something... :)
Hi Elis, Why go to all the trouble and expense of OTCB? Any thoughts on this?
I imagine you already discussed this--but I missed your thoughts.
TIA
As of 2/10/16 at 3:18pm Arizona Time -
The following response was provided by management via Agoracom website.
We will remain in the quiet period until the SEC files a Notice of Effectiveness regarding the S-1 filed Jan 21st. Because of SEC restrictions we cannot comment on the duration of the Quiet Period, except as in the previous sentence.
Regards,
AGORACOM
Thanks, so much! Will be interesting to see what happens.
when did JB say we were in a quiet period? Sorry I missed it.
I got in with the rally up to .18--and made some going up and back down again.
Was out for several years and got back the last bit of time.
I've been a believer in LBSR.
When the quiet period is over, we'll all hear more and see more, one way or the other.
Agreed, one way or another, we'll find out. Thanks for the faith!
Yes, none of us invested in LBSR wanted JB to sell those claims, but the $5M needed to be repaid. NAK also wanted those claims.
Had JB not drilled, he might have had to give away more of the caldera he discovered.
Bottom line: JB does seem to be a gifted geologist.
Business man? well that is another set of skills...
Another scenario to retire $5M debt?
NAK found something they wanted kept quiet?
Or, like I said... NAK was just being nice, really nice, retiring $5M debt, asking for more claims on a whim. Yup, that's it!
It was really nice of NAK to forgive $5M debt in exchange for additional claims. It seems that NAK asked to keep what they saw on and in the core a secret, as well.
What nice guys.
Thanks, IMO NAK was very nice to do that for LBSR.
Am I wrong in understanding this event?
JB drilled one hole in Alaska and NAK acquired the hole and retired about $3 in debt based on the unknown findings.
Is this what happened awhile ago?
LBSR Gets $500,000 from institutional investor
Item 1.01 Entry into a Material Definitive Agreement.
On November 10, 2015 (the “Effective Date”), Liberty Star Uranium & Metals Corp. (the “Company”) entered into a convertible promissory note with an institutional investor (the “Holder”) in the principal sum of up to $500,000 plus accrued and unpaid interest with an original issue discount of $50,000 (the “Note”). The Holder may pay additional consideration to the Company in such amounts and at such dates as the Holder may choose, however, the Company has the right to reject any of those payments within 24 hours of receipt. The Note has a maturity date of two (2) years from the Effective Date and is convertible at any time by the Holder into our common stock at seventy percent (70%) of the average of the three (3) lowest closing prices in the twenty (20) trading days prior to the conversion. The shares of common stock issuable upon conversion of the Note will be restricted securities as defined in Rule 144 promulgated under the Securities Act of 1933. The Note can be prepaid by us within ninety (90) days without a premium and without interest. After ninety (90) days, a one-time interest charge of twelve percent (12%) is applied, and the Note may not be prepaid without the Holder’s consent. Unless otherwise agreed in writing by both parties, at no time shall the Holder convert any amount of the Note into common stock of the Company that would result in the Holder owning more than 4.99% of the Company’s common stock outstanding.
Item 3.02. Unregistered Sales of Equity Securities
Item 1.01 is hereby incorporated by reference.
The Note was not registered under the Securities Act of 1933, as amended (the “Securities Act”), but qualified for exemption under Section 4(a)(2) of the Securities Act. The Note was exempt from registration under Section 4(a)(2) of the Securities Act because the issuance of such Note by the Company did not involve a “public offering,” as defined in Section 4(a)(2) of the Securities Act, due to the insubstantial number of persons involved in the transaction, size of the offering, and manner of the offering and number of securities offered. The Company did not undertake an offering in which it sold a high number of securities to a high number of investors. In addition, the Investor had the necessary investment intent as required by Section 4(a)(2) of the Securities Act since they agreed to, and received, the securities bearing a legend stating that such securities are restricted pursuant to Rule 144 of the Securities Act. This restriction ensures that these securities would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, the Company has met the requirements to qualify for exemption under Section 4(a)(2) of the Securities Act.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LIBERTY STAR URANIUM & METALS CORP.
By: /s/ James Briscoe
Date: December 8, 2015 Name: James Briscoe
Title: Chief Executive Officer
Yup, that "someone" would be me... if only I had the $$...
:)
Great to hear from you. Was just thinking of you this morning--wondering if we'd see you again soon. I think all the LBSR longs enjoy your point of view.
Thanks for all.
Thank you Elis--the drilling is definitely Coming.
I can show you a hundred similar outcrops Love to see them,Thanks in advance.
James Briscoe=Chris Columbus?
Those who are blind simply can not "get" the vision, they just can't see. But what does that do for visionaries? It strengthens those who are on the right path and gives them an inner resolve! It's just the way they are.
May we all see the Truth!
Oops. Memorial Day. Thanks to all the selfless vets who made our freedom possible. We owe you a great debt of gratitude.
HI, just checking in. Are there no trades today?
LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL!
Too funny! Thanks for the laugh.
When I log onto this page--it shows 0 volume.
Scottrade--shows over 2 million traded...
Is this just me or happening to others?
TIA
a "normal" amount would not be surprising....because it's well, normal.
A higher than normal amount would be surprising,
LOL. That explains a lot. I believe in Truth.
For me, a true long is one who believes in LBSR.
Some longs may hold their shares in totality, while others may sell a small portion on the spikes, keeping their core ready.
A lot of change coming in 2015. JMO.
Thanks for the "atta girl". But as LH pointed out, the orphan stage *may* not be as downwardly drastic as depicted in the image.
(When I saw the image yesterday, I had the same sense as LH--without realizing that was what he was saying. At that time, I felt as though the orphan down slope would be only slight, then a steep upward climb.)
No sense of time, though.
Naturally, I could be wrong--but honestly, I think it's something to watch for...
I believe 2015 will be a good year for us. JMO.
Thank you so, so much. As many of you know--there are also many, like myself who have little knowledge of investing, but strongly believe in this company. We all are so grateful for your help.
When I posted this graphic--I thought to myself, I don't think the down line (the orphan part) will be like that at all.I just felt it would dip down and then, start to climb.
I pray for this company and believe in it.
Thank you so much.
I downloaded an image someone on this site shared, some time ago. I found it very helpful for understanding the "big picture".
The image was a graphic showing an overview of the mining process.
(If I knew how to upload the image--I would. Ahhh, looks like I figured out how to post a pic here. Nice!)
But here is the link:
http://www.resourceinvestor.com/2011/04/21/geology-does-matter-in-junior-mining-investments
Very helpful. And thanks to the original poster.
I think you are right--a "See" turtle with the ability to see into the future (and the hard shell is a definite bonus)
:)
Congrats. Looks like you did well. will look for the film in this area.
Yup, 2010 was a good year for me with LBSR--played several of the swings and then, got out.
Back in and sensing next year is a turn around year.
We'll see--just my opinion.
Official poll: where will LBSR be in a year?
Me, I believe that within a year from now we'll be quite happy and very blessed!
My watch dates are end of February and June of next year. Dunno why, just believing there will be some rumblin' and then some, rockin' and a rollin'.
We'll see...
Just a thumbs up for those who are long, able to see the future in terms of years not being swayed by daily market ups and downs.
I would rather wait for the right partners than have the wrong ones now.
JMO.
Sorry my post was so cryptic.
Warren Buffett said he buys businesses that he thinks will be good for the next 5,10, 20 years. The market up or down is of little consequence.
http://finance.yahoo.com/news/buffett-bought-stocks-wednesdays-big-134631323.html
Your post marked with a star!
Hmmm, I would think JB would be biding his time, waiting for the best deal to emerge. I would think he wouldn't rush into anything with any of the parties. JB knows what he has.
JMO