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HE LIVES!
Glad to see you around here VP. I hope you hang around.
I agree he seems desperate in many of the PR's over the last two years, but he is trying, and as long as he continues to try, we don't know what will happen. Really the quiet annoys me more than lame PR's... maybe soon, we will all know.
I have to apologize tpecj,
My intent was not to attack or put you on the defensive. My point is simply that, to suggest JB has no intention of ever drilling a hole is essentially a non starter (no pun intended). There are many opinions here that are very different. My point is that all those opinions can add to the story/discussion.
Some people say "JB has no idea what he's doing and here is why I think that"... This could give some people more information or could invoke a response that would shed light on why he is doing what he is doing.
Some people only look at charts some people are just taking a shot in the dark. We all have something to offer from our given position.
Thinking negatively on LBSR or its management is fine and is even productive when presented as an argument. I guess I just got a little annoyed at the thought that JB and management have no intention of ever starting a mine or drilling a hole. This is JB's life work and if you look around, this is not an easy thing to accomplish. Im a little surprised he has kept the light on this long to be honest. There are simply no investors and no money in the sector right now.
I think the risk to reward is justified and am willing to spend a few thousand just to have a little skin in the game. I understand that I will most likely lose it and I'm ok with that but I really hope I get to post an "I told you so" post in the next few months. GLTA
RipCity
Grip it and rip it JB!
Well, the funds only become available as the shares issued by the S-1 are sold... correct? and even that is limited by average volume and a cap of 100k a month... correct?
I thought he was saying that they couldn't raise the funds for 6 months ($600,000 ish)
I received a reply stating that the message had been forwarded to management. I'm still holding out a glimmer of hope that they will respond to the question when the "quiet" period is over.
Rich, here is what I posted on the other board back in mid December
Dear Management,
Many investors are anxiously awaiting further information on the January drill plan/progress. By my understanding LBSR is currently staying quiet at the recommendation of an attorney. What is the expected date that the "quiet period" will end? If you can not give us patient shareholders a hard date, could you please comment on the general time frame we should expect?
Other questions to be answered if possible,
-Was the S-1 withdrawal due to complications with terms and the SEC or was the S-1 no longer required by LBSR due to external factors?
-In the interview, Mr. Briscoe talks of "Gossans" could he elaborate as to what that means or what he meant by it?
-What happen to the 10 new properties that were briefly mentioned?
-Is the "Mine Finders Program" still a possibility or has that been ruled out?
-Would management consider rotary type drilling if that was the only drilling currently affordable?
Thank you for taking the time to read and reply to my question/s. I look forward to your response.
Sincerely,
RipCity
Wait... Please tell me I am misunderstanding this. Are you telling me that LBSR is paying over $3000 to be part of "the other board"? I really hope that s not the case? what service are they providing? interviews? Golly, anybody want to start a message board with me? We will only charge $2000/month.
And yes GitReal I posted your questions on the other board and never received a response. I liked the other board because I felt like in general it had more productive conversation. Even if its true I get tired of all the negative chatter that doesn't really contribute to the conversation. I stopped posting over there when I noticed them deleting any posts that were negative. In my opinion deleting posts that are negative is even less productive than just bad mouthing management all day.
Does anyone know where VP went? is he on yet a 3rd board? I miss reading his posts. Why do some people seem to think this S-1 will fund drilling 2 holes? Is that even a possibility, or do they miss-understand what the S-1 is?
The odds of this lottery are directly reflected in the price of the ticket. If odds were good the share price would be much different.
You misunderstood me a little. I'm not talking about what I believe will happen I'm simply speaking to the odds of it happening. Keep in mind, I have been accumulating all along the way and have my average share price well below .01
But I also know the odds. I think you know where my hopes lie. GLTA
RipCity
Although ridiculous, that's also sort of the point of stocks like this. The dreamy speculation is the fun part. I would guess the conversation is simply that... Conversation.
And besides the conversation is kind of fun if you can get past how silly all the hypotheticals are.
IF they really were drilling already (they are not)
IF they hit an ore body (they won't)
What would the share price jump to... Although a ridiculous list of ifs, the conversation is still enjoyable and I would guess that's where they stand.
I'm not posting over there just to be clear. But I am curious as to where people think pops would go with those big IFS, that's how I make losing money fun. (Insert winky face here)
GLTA, RipCity
Thank you,
So IF drilling were to occur it would need to be funded some other way?
You are not giving me any useful information.
So do they have a limit of 100k a month?
Can they draw all proceeds on approval?
I was looking for specifics on how this works.
Wait. So to make this clear and simple for me, IF. IF this S-1 gets approved, will these funds be available to use for drilling? Or is this simply "keep the lights on" money?
Has anybody heard any peep about those permits?
Is there a state site that I can look up status on?
Thanks in advance,
RipCity
It is a mess. It would be nice to get an explanation, but I doubt we will.
There were some other short posts saying that it got their heart pounding and that it might be a prelude to an after hours NR on the way (I'm paraphrasing) but all those posts were removed.
Oh well.
There were other posts. Someone new over there posted an unhappy message about picking up 600k shares as soon as they saw news released to try and beat the rush, only to realize the news release was old. They are not happy to say the least...
That post is gone now.
And a couple others.
Pretty interesting sequence of events today... Oh well.
Am I going crazy?
Did they just take all of today's posts down from the "other board" ?
It now only shows one post from today.
Yet again, I must ask, what in the world is going on?
RipCity
"Posted in error"
Oh well... I enjoy a bit of Tuesday action. Something to talk about. My guess is that they have so many news releases ready to post, she just clicked the wrong one. GLTA.
RipCity
Was this posted by management?
It still lists a "estimated" drill date of January?
What is going on here?
Why would they put this out again, word for word?
Any ideas?
RipCity
What does this mean?
Is this positive or negative?
Was the move requested by LBSR or by external forces?
Could this in any way be related to the "quiet period"?
Thanks in advance.
RipCity
Would a filing with the SEC precede a private placement?
Maybe that's why the S-1/a was withdrawn? If LBSR found a private placement large enough to fund the first two holes, there would be no need for the additional 350 million shares to be issued. Right?
Just spit balling here.
Happy holidays to all!
RipCity
haha, no worries leif. I pick up shares very casually and don't have a problem when I end up paying a touch more (in the big picture it wont matter) Good luck and happy accumulating.
RipCity
Hey... don't tell everyone. I'm trying to scoop up cheap shares into the new year. You can call me The Captain because I'm riding this thing to the bottom!
-or maybe into orbit... time to consult my magic 8 ball.
GLTA
RipCity
Thanks for the reply Gitreal,
I'm really just passing time till we hear something/anything. I'm hoping my questions I posted on the other board will get answered this week but who knows.
10 years sounds reasonable, and I would assume that the time frame for permits would greatly depend on the type of mine... and on a discovery ;) Maybe this week will give us all some information to argue about. GLTA
RipCity
P.s. Grip it and rip it J.B.!
Thanks as always for the knowledgable info, gitreal. I posted some questions for management on the other board and threw in a gossan question for you ;) . I don't understand why people treat this like a sporting event with one team against another. Clearly nobody is shorting this stock, so its in everybody best interest if it moves upward. I feel confident that everybody that owns this stock knows its a 10,000-1 chance that this makes a real move and I would assume that anybody "invested" expects to lose their money. I think that J.B. is actively doing anything possible to start a mine, which would be a nice book end to his geological career. I think there have been many truths stretched in attempt to cross the finish line but I don't personally see anything that would be considered blatant lying or illegal.
Gitreal,
you seem to have a firm grasp of the mine starting process, and in my opinion you are here for a reason. My guess is that you are as interested as the rest of us as to what lies beneath those mighty green "gossans"
Could you shed some light on the complete process to starting a shallow mine, including time frames? assume the following things to be true.
-Initial drill holes find high percentages of copper (call it 5%/yard^3)
-funding flows in upon drill results
-permits get approved with no big hold ups
If these conditions existed, what time frame would we be looking at to a functioning mine?
Let me get even crazier and ask IF (very huge IF) all these things happen and the share structure stayed the same... what would you guess market cap would look like? and in turn share price?
I have paid for millions of shares, that money will most likely all go away, but in the mean time I intend to dream as much as possible!!! GLTA
J.B. Grip it and rip it!
RipCity
So, just to make sure I'm clear.
First issuing 350 million shares is a bad sign.
Now NOT issuing 350 million shares is a bad sign?
Which is it?
I guess we won't know till management explains what's going on. GLTA.
RipCity
What reasons would the SEC not grant the withdrawal? Is that common?
They said when the S-1 "process" is concluded. I did not read this as they were still working on the S-1 but that they are waiting for withdrawal to be official and complete.
I'm not familiar with the process so its very possible that I misunderstand it.
From Agoracom
"The withdrawal is Perfunctory"
uh... ok... thanks for the info Management.
Does anyone know how long this usually takes to conclude (the S-1 process)
RipCity
Wait a second, gitreal, maybe I'm not picking up on sarcasm or you are writing that post with a little smirk, but please tell me you don't really think there is insider selling today!
Roughly a million shares (retail) can hardly be considered high volume selling. And for every person selling there's a person buying. I'm going to assume you were chuckling quietly to yourself while you wrote your post.
RipCity
That couldn't be, any true pro can see that an insider is scrambling to get out because they know something.
But if there is large volume buying... That is clearly bag holders get duped by ol Briscoe again. Definitely not insider knowledge.
I'm hoping for news of a sizable PP this week. I like to stay positive.
Is there any way to know what the SEC comments on the S-1 were?
GLTA
RipCity
I thought the S1 was withdrawn at the request of LBSR? Did I miss something?
It sounds to me like maybe they no longer require those funds. PP?
If there is no longer a S1 or S1a does that mean the "quiet period" is over?
Should be hearing from management soon I would think. GLTA
RipCity
On a more serious note, does anybody know if the "quiet period" started over with the change to the S-1 or when it actually ends? I have to assume there will be some sort of news when it is over.
Also do any pros around here know the reason for the addendum and the reduction in shares issued? I poked around a little but I cant even tell if the reduction was put in motion by LBSR or by the reviewers, much less any reason why. Thanks in advance. GLTA, Im guessing we will get some sort of info next week.
RipCity
p.s. Grip it and rip it J.B.
Great information as always, and yes that answers my question. Hopefully there will be core to assay soon. Thanks again.
RipCity
P.s. I have been taking advice from this message board (post#27936) and making sure I "accumulate on the dips" ??
Very true.
When a core is processed or analyzed for data what is the general rule for how much of the core needs to be analyzed to report percentages?
For example let's say the top 500' of the core has .02% copper while the lower 500' has 4% would they just analyze/process the bottom 500' and then report that the ore body yielded 4% copper levels?
Or on a smaller scale could they analyze 2' of the core and report in that manner?
I guess my question is, what is the standard or general rule for reporting core results? Thanks in advance.
RipCity
I am down 100% on my lottery tickets. Guess this is only my second worst "investment"
RipCity
I would venture to guess that each person here looks at the company's past differently. Some have been repeatedly disappointed and that has been enough to move on from LBSR, while some have seen the struggles but also seen the progress/potential and decided to hang around simply for the "what if" That is each persons choice and neither choice is wrong or right. People seem to take everything written here personally rather than as just part of the discussion. I can honestly say that I don't know for sure if there is anything "fraudulent" going on here but thats also not for me to decide. If I didn't think that developing a mine was the #1 priority of this company I would also cut losses and move on. Discussions are always more fruitful than arguments. Thanks to all that post here. GLTA. Grip it and rip it!
RipCity
Thanks, 1papermaker
Grip it and rip it is my new favorite LBSR slogan. Hear that JB? Grip it and rip it my man! I cant wait for the back nine of this course.
RipCity
Solid post rich... Its clear you get it! wont be long now.
RipCity
I get what you are saying, And I guess if we consider how long he has continued to sell shares with little to no return then yes he is a good salesman. I would venture to guess that when LBSR drilled in Alaska they were drilling with the hopes of starting a mine not with the hopes of selling shares. Along similar lines, I believe JB says the things he does now in hopes of yet again starting a mine. There are so many laughable things that have been posted but in my opinion every single one of them was posted or spoken with the goal of starting/finding a mine.
I guess what I'm saying is that I think JB only sells shares to help him start a mine, as opposed to starting a mine to help him sell shares. I would even bet that being a publicly traded company annoys JB because it distracts from finding a mine, but again... means justify the ends. GLTA.
RipCity