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The Northern Dynasty announcement is what initially catapulted this stock to begin with. We are holding with no news but are certainly not dying. Until news is released or something is revealed through DD I would expect us to maintain our current trading range. If one feels comfortable doing so they could buy and sell on the swings. If you think every rally will be met with selling then why not trade as such? Me on the other hand, I'll be holding and accumulating. I'm not comfortable selling a company with this much potential.
This might not be a market that waits, but I certainly will. And I'll take advantage of said market if they decide to get impatient.
This is true. The market doesn't buy into ZTEM results. What's in the ground has yet to be proven for the majority of the market.
Confirmation needs to be via a final definitive JV OR drill results which would result in a dramatic rise (or some other major news). But there's no way that the potential value of our Alaska deposits are priced in.
This is purely a matter of whether or not an investor wants to buy into the circumstantial evidence that says we have something of major value. That evidence being 1. ZTEM 2. JV with NAK as a result of that ZTEM 3. Proof that the JV is proceeding (land transfer, payment for claims etc..).
The company now has cash as recently reported and has Northern Dynasty covering the cost of claim retention. Our current position regarding financial stability is so much better than it was 6 months ago it's ridiculous.
We are on the cusp of something huge. The company owns something that has an actual value but is yet to be proven. If you want proven reserves measuring something similar to the 55 billion pounds of copper, 67 million ounces of gold and 3.3 billion pounds of molybdenum as contained within pebble and you think a company with such proven reserves could be purchased at .05 cents per share then you are delusional. This opportunity is here because the reserves haven't been proven yet plain and simple. You're betting on the ZTEM and playing off the fact that Northern Dynasty is clearly interested (which is why you should be too).
Advantage took :)
Im all in
just one problem
LBSR Dropping us some nice clues?
Per twitter:
Copper Surges to Record as China Holds Off Interest Rate Gain
http://www.businessweek.com/news/2010-12-13/copper-surges-to-record-as-china-holds-off-interest-rate-gain.html
August 13 2010:
(Golden, CO) Latitude announces trip to China by its senior management. CEO William Cavalier and Executive Vice President CFO Larry Liang will meet industrial and financing partners in Beijing, Shanghai and Hong Kong on a 14 day tour.
Lattitude oil is the other company these two are associated. Their work abroad for latitude could pay off big time for LBSR
Good points but remember Larry Liang has been making business trips to China since at least August and has several established connections over there. To bring the CEO in is something of significance beyond rapport building IMO
Gold Imports by China Soar Almost Fivefold as Inflation Spurs Investment
http://www.bloomberg.com/news/2010-12-02/china-gold-imports-jump-almost-fivefold-as-inflation-outlook-spurs-demand.html
Love this article(China related)
Larry Liang
This has been posted before, bringing it to everyones attention again:
Any "face to face" meeting will clearly demonstrate that we have a geologist that knows his stuff. Don't doubt the importance of this meeting.
LBSR does NOT engage in meaningless pumping of their company. The fact that they are letting this information out to the public is a gift and telling us that something very important is taking place.
Apparently Mr. Briscoe is on his way to China :)
http://twitter.com/LibertyStarLBSR
CEO Briscoe departed Sunday PM to Beijing
Yes, that is best case scenario IMO and something that was brought up by OMO a while back. If that comes to fruition we'll all be sitting with a lot of money in our bank accounts (those who hold shares anyway).
http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7027044-1605-8661&type=sect&TabIndex=2&companyid=110041&ppu=%252fdefault.aspx%253fcompanyid%253d110041%2526amp%253bformtypeId%253d346
I thought that Brio was one of the old note holders
OMO, what's your take on UBS being here?
The latest NR basically stated that drilling our claims was a possibility.
I don't see the 50% partnership between Anglo and Northern Dynasty as a bad thing. Anglo has the ability to eventually put this thing into production. The amount of effort being put forth by Pebble Partnership in regards to environmental concerns is astounding. And development of the mine will also require roads, a port and additional infrastructure.
This is why a buyout of LBSR or setting up umbrella management would make a lot of sense for Hunter Dickinson. They could retain an interest in the caldera via LBSR's claims even after Northern Dynasty is sold (which is what it was set up for).
PER TWITTER UPDATE: VP BUSINESS DEVELOPMENT EDWARD OTHON WILL SPEND THANKSGIVING IN ABU DHABI: PRODUCTIVE PROSPECTS IN THE MIDDLE EAST
Very interesting...
The latest NR addressed everything possible to spring us into action short of announcing the JV was final. From our ability to raise cash to other endeavors and reiterating that the lawsuit was over and was no longer a distraction. I'm very surprised that early volume didn't continue. The bottom line is that we might not see much action until the JV is final or some other bit of news drives us up.
Everyone should have no doubt that the latest NR was positive in every aspect. I'm disappointed we didn't see an immediate run but it does nothing but make me more confident about the future of this company and the eventual rise in pps. I know everyone is getting sick of this theme.. but all the time we spend here is additional opportunity to accumulate more shares.
Exploration is certainly on...
The Company recorded exploration costs of $653,000 (2009 – $11,000) as the Company initiated
and conducted two independent studies on the Pebble Project and completed exploration on the
Liberty Star claims. Salary costs for the period increased to $580,000 (2009 – $361,000) as a result
of US payroll related taxation payments for employees who worked on the Pebble Project and
continuing legal and due diligence activities relating to the Company’s purchase of the Liberty Star
claims (refer 1.2.2.3).
Loss for the period was $10.8 million as compared to $10.6 million in 2009. The increase is
attributable to certain additional US payroll taxes paid for employees working on the Pebble Project
and exploration work completed on the Liberty Star claims in the current year.
The Company incurred exploration costs of $950,000 (2009 – $80,000) as the Company completed
a work program amounting to $408,000 on the Liberty Star claims, published a technical report and
an update of mineral resources (refer to Exploration and Resources in Section 1.2.3), and initiated
and conducted two independent studies on the Pebble Project. Salary costs for the period increased
to $1,752,000 (2009 – $1,204,000) mainly as a result of US payroll related taxation payments for
employees working on the Pebble Project. The Company also incurred additional payroll costs as a
result of legal and due diligence activities relating to the Company’s purchase of the Liberty Star
claims (refer 1.2.2.3).
The total area of the properties is 186.7 square miles. The Purchased Claims are contiguous with
the Pebble Partnership claims and comprise 95 claims covering 23.8 square miles. The Big Chunk
South block, comprising 428 claims covering an area of 102.9 square miles, is north of and
contiguous with the Pebble Partnership claims. The 184 Big Chunk North claims are located
northwest of the Pebble property, and cover an area of 46 square miles. The 56 Bonanza Hills
claims cover a 14 square mile area located to the northeast of the Pebble property. Northern
Dynasty commissioned a 187 line km ZTEM geophysical survey that took place during the quarter
at a cost of approximately US$170,900.
Also of interest:
Under the FMM Agreement, the Pebble Partnership was required to complete a Z-Axis Tipper
Electromagnetic Technique (ZTEM) airborne survey over the Properties before January 1, 2011;
this survey was completed during the quarter. In addition, from the date of signature of the FMM
Agreement until either completion of the earn-in or termination of the FMM Agreement, the Pebble
Partnership is required to make annual payments of US$50,000 to FMM. The first US$50,000
payment has been made.
Liberty Star Raises Cash Through Non-Brokered Private Placements with US Investors
TUCSON, Ariz.--(BUSINESS WIRE)--Liberty Star Uranium & Metals Corp. (The “Company”) (OTCBB: LBSR) is pleased to announce that it has completed two non-brokered private placement with several private US accredited investors at USD 0.04-0.043 per unit with the issuance of 30,465,114 units for proceeds totaling USD $1,235,000.
For a detailed description of the transactions completed October 20, 2010 and November 12, 2010, please refer to the Company’s SEC Form 8-K, filed November 15, 2010. There were no brokerage commissions paid. Liberty Star Uranium currently has 539,951,309 fully diluted shares outstanding.
The Company will use the funds for general working capital purposes and to advance copper/gold/silver exploration efforts in southwestern Alaska, southeastern Arizona and elsewhere. As previously reported (NR 95), the Company continues to work with Northern Dynasty Minerals (NYSE AMEX:NAK TSX: NDM) regarding the joint venture exploration effort (porphyry copper/gold) on its Big Chunk Super Project and Bonanza Hills Project lands.
Other news of interest to shareholders and investors:
With the conclusion of all legal matters involving the Company and previous note holders, Liberty Star’s board members and management can freely pursue JV opportunities for its projects in Alaska, Arizona and elsewhere. Discussions of possible joint ventures on multiple porphyry copper targets are under way other than the JV with Northern Dynasty. However it is too early to determine if they will progress to completion.
Board member Larry Liang, Vice President Business Development-China has recently returned from a trip to China, which included meetings with senior management of mining companies and private investors. This has already generated a meeting in the USA. He plans on returning to China in early December. Vice President of Business Development Mexico, Eduardo Othon, has been in Abu Dubai for over six weeks talking with his contacts there. His original plan was to visit the Middle East financial center for one week. Comments James Briscoe: “Larry and Eddie have traveled far and wide to tell the Liberty Star story and are doing so with great promise. We also have a high level representative in India telling our story as well. Our meticulous exploration efforts in Alaska and prime land position in southeastern Arizona are now recognized by key players in China, the Middle East, India and Europe.”
For the board of directors,
“James A. Briscoe”
James A. Briscoe, P. Geo.
President & CEO
Liberty Star Uranium & Metals Corp
Just saw that... beat me to it ;)
The key here, and the reason why drilling on the "purchased claims" is so exciting, is the fact that the JV and the purchase/loan are interdependent. As pointed out by OMO, if the JV falters then the land is reclaimed. If NAK hits metal and finds something of significance it all but guarantees they move forward since the land doesn't belong to them without the JV.
That's the problem with pinpointing those locations... If one uses all of the townships + ranges + sections then the area is much greater and falls outside of the purchased claims. The way it's listed makes it very unclear.
That's not easy to answer since nobody knows the size of pebble. Even NAK's pebble is still being explored. It's an earn-in agreement. NAK will pay for drilling, permitting, securing claims etc.. and in return will receive 60% return. I'm very happy with this. People sometimes forget where we were in June of this year.
What we do know is that Northern Dynasty is the party who will be funding this project(unless another party gets involved). Once finalized, this deal creates financial stability for LBSR... to what extent we don't know without seeing the definitive agreement, but we do know that our claims are secure and because of this deal we now have the ability to start doing something with those claims.
Up. Look at the money flow index and compare the recent MFI relative to the stock price with past upward movement. That's my interpretation anyway.
Everyone was expecting quick news regarding the JV. Most of those people, including myself, have no idea what is involved in putting a deal like this together. More information continues to come up about timing. I just posted an articled that threw in the fact that Pebble Limited Partnership had 90 days to decide whether or not they wanted to include our claims or just let Northern Dynasty control them solely. This is a reasonable explanation for the long wait. We're waiting on Pebble Partnership to make this decision and will likely not release anything until they are given their allotted time. There's also the fact that we had to deal with a lawsuit. This is a complex deal. Our books were opened to Northern Dynasty for them to carefully review our company and I'm sure they are looking into everything we currently own as they will own a substantial amount of our company since they own our debt(as previously explained by OMO). There's the possibility of umbrella management(as OMO has also mentioned). So basically have a complex deal with a lawsuit in the middle AND we are dealing with both NAK and the possibility of Pebble Partnership and have to give them opportunity to make a decision on what they want to do. Needless to say, it make sense as to why this is such a long process.
I've also speculated that the November elections might be playing a role in things. Pebble Partnership is devoted almost entirely to PR which is what's necessary to get us to eventual permitting and production. Pebble mine is a major hot button and it's one of the questions all candidates are being asked on a regular basis. It wouldn't surprise me if there has been an agreement to basically shut up keep pebble mine out of the news until after Nov 2.
Take note of the fact that after our JV was announced with NAK a JV was also announced with Full Metal Minerals and Pebble Partnership(NAK + Anglo) giving them until mid October to do DD. I think it's quite telling that during Pebble Partnerships alloted time to decide whether or not to include our claims a deal was struck with Pebble and FMM. It's also telling that a ZTEM was conducted on FMM's claims(a technology that we initially used to sell NAK on our piece of the caldera). Also note Pebble asked Full Metal Minerals for an extension to October 31st for DD(that's today BTW). Every piece of information that comes out only solidifies my opinion that something good is happening behind the scenes.
If I had to speculate again on a time frame I'd say anytime between Nov 3rd and the end of November. Given what's at stake here and the magnitude of this project I wouldn't be surprised to have a few more weeks of silence.
Pebble Partnership has 90 days to decide if it wants to consolidate claims into its land package.
This actually puts a time table on things. I had never seen this date posted before but it makes sense why the long wait. It's very possible that Pebble Partnership is still doing it's DD regarding our claims to decide if they want to include us. This probably has to conclude before a definitive JV can be announced(either LBSR & NAK or LBSR & Pebble Partnerhsip if they decide to include us). If we use a mid August closing date(recording 8/27 of the deed means a closing several days prior) that would mean the 90 days for PlP to decide to include puts a mid November date at the latest to give PlP their 90 days(assuming no extensions have been granted like they did with Full Metal Minerals).
http://www.petroleumnews.com/pnads/987379436.shtml
You might need a subscription so I'm just going to post the pertinent information here.
Don't forget that NAK has the lowest market cap per proven / probable reserves of just about every major Canadian mining company out there. NAK could easily be a $40.00 stock some day.
Northern Dynasty Minerals Ltd., NDM : $5.17 per ounce of gold equivalent.
http://www.goldminerpulse.com/gold-mining-valuations.php
The last field inspection report for Pebble Mine was August of 2010
http://dnr.alaska.gov/mlw/mining/largemine/pebble/fieldreports/pebble083110.pdf
So far I haven't been able to find a record of any new mining permits or activity since then.
It can be shopped around regardless of whether we were to buy back those claims. It was stated by Tracy that Briscoe was very happy with the amount he received for those particular claims so I don't see us trying to buy them back. If a superior offer comes in then our deal with NAk would be off and the land would be reclaimed anyway. We would use a better offer to pay off our debt obligation and the land would be reclaimed.
I highly doubt that we would want to accept another offer unless the terms were way better considering NAK's current situation in pebble and how much Pebble Partnership is doing towards the permitting process. Plus NAk has the opportunity to match any such offer. Don't forget, they bailed us out of a previous financial mess and provided us with financial stability and a direct connection to Hunter Dickinson. From what I've gathered Briscoe and Theissen have a pretty good relationship. Also remember who owns a large portion of Northern Dynasty (Rio Tinto). This deal is going to grab the attention of some big time players once final. JV + drill results and there's no reason a company like Rio Tinto / Mitsubishi etc.. wouldn't want to have a large stake in our company. Add in the possibility of HDI management and the upside here is almost mind blowing.
The permitting is going to take a long time. This is the reason why NAK at 9.00 per share is the lowest market cap per proven/probable mineral asset value out there. If we see anything remotely close to NAK's cap/mineral value we'll all be rich. NAK didn't need permitting to be where they are and neither will we. Permitting will eventually take us much higher but we should see dollar land well before we smell production.
If I had to guess I'd say these guys:
Based on this article: Still-years-away-from-development-the-fight-heats-up-over-Pebble-Mine
I emailed the IR dept a while back and they informed me that the DD date was pushed back to 10/31 simply because PlP needed additional time.
I get where you are coming from.
You have to understand that many here are so confident in what's about to occur that they look at a longer wait as an opportunity to buy more. I set a goal for how many shares I wanted to acquire for this company and I'm almost there. If the pps stays the same for another 2 weeks I'll be able to reach my goal. If this had hit 2 months ago like many were expecting I'd have 1/3 the shares I have now. Very much a blessing in disguise.
If you don't plan on acquiring any more shares then I fully understand why you want to see immediate action. You have to know that LBSR wants to move forward but it's not in their hands. Northern Dynasty controls the announcement as they have a 60% interest as part of the JV. We are talking about a politically sensitive mining venture on potentially the worlds largest gold/copper/moly asset. This is a huge deal, still underestimated by many here.
I have a hunch that everyone will keep quiet until after election day. Pebble mine is a question that keeps coming up when candidates are being interviewed. It's 100% speculation on my part but I find the fact that Pebble Partnership pushed the date for DD to be complete to 10/31(Sunday before election day) for their JV with Full Metal Minerals and we haven't heard a whisper about our deal. With both companies in the Caldera announcing JV's with NAK/PlP it's clear this thing is moving forward. As a political hot button I think it might be a situation of not ruffling any feathers and keeping anything involving pebble mine out of the news until after Nov 2. Again, just speculation on my part. Come next Wednesday we should have a senator and governor that are both very much pro-pebble mine elected to office.
Agreed. After they sell all of their warrants from the settlement they still have the 22 million exercisable at .10 ... which is a good thing because it immediately turns them into investors with an interest in seeing our pps rise. Basically cash in the bank for LBSR. Regardless of what we think of them, I'd rather have them on our side.
Check out this spreadsheet (NAK related)
https://spreadsheets.google.com/pub?key=0AoStOj0lu5BZdFlqMzRXbTBhWThoYmpfTURpUWpYY2c&hl=en&output=html
According to the gentleman who put together the list, which is based on date from goldminerpulse.com he ranks them based on "market capitalization per oz of gold or silver equivalent, Ore Grade, in-situ metal value, resources, reserves, etc to evaluate and rank miners."
Guess who's #1 on the list? Also note that NAK(NDM) has the lowest market cap per ounce of gold. We often compare our pps / market cap to Northern Dynasty since it's possible our assets are equivalent or greater than theirs. What's clear from this list is that NAK has HUGE upside given it's low cap.
The big difference between these companies and ours of course is proven/probable reserves. Currently we only have ZTEM which isn't going to get much of the investment communities attention. This just shows you the potential here once we start proving out our asset and are backed by a company such has Hunter Dickinson.