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About 80 billion pounds of it!!
SGR, what are the latest estimates for Cu prices (i.e. futures)?
It's still hard to fathom how much Pebble is worth (if mined)...$600B worth of ore is just absolutely staggering...some are using a 1% estimate of mineral ore to get to a fair market cap for the stock price...how is that derived??
Also, two other questions I've posed recently, but got no takers:
#1 thoughts about what will happen to U prices if oil goes significantly higher?
#2 what is the status of AZ Tombstone and East Silver Bell properties? We had some JV going with some mining company in Mexico...what gives?
Yes...I agree...untraceable...bark without bite.
Bad press...for Valentine's Day:
http://www.alternet.org/story/149888/no_dirty_gold%3A_this_valentine%27s_day%2C_say_no_to_gold_that%27s_mined_at_the_expense_of_the_environment_and_workers
"Over 50 jewelers have also pledged to protect the world's most valuable wild sockeye salmon fishery from an irresponsible mine project. At the request of the commercial fishing and indigenous communities of Bristol Bay, Alaska, they have promised not to use gold from the proposed Pebble mine. If built, Pebble would be the largest open-pit mine in North America, and would dump up to 10 billion tons of toxic waste at the headwaters of Bristol Bay."
...not sure where they get the 10 billion tons figure!?
Yes, FJH...I'm already using the same strategy...using both IRA and trading accounts...will continue to add to both with any dips or major news.
TSX would score much better than Amex or NSDAQ...I agree!
FJH...I'm a middle-aged physician and love what I do and don't plan to retire, but hopefully nickel shares in LBSR will transition me to an easier work schedule! I think JB, however, has a retirement look on HIS face ("the stone" FB photo)!! What a proud way for him to do so...developing what likely will become the worlds' greatest mining operation.
"The rational investors are delighted to have this insight into the JV without the market having recognized its significance first. It's the closest thing average joe ever sees to inside information. I will be very glad that Briscoe didn't quickly sign a deal before the claims were proven when the drill cores come in. They can't possibly finalize the terms without a proper valuation of the claims, hence the current agreement, transferred land as earnest collateral, loan payments for LBSR to keep their standing secure throughout the negotiations."
...this is what makes me giddy!
Yes, Mickey...nice gestalt...an impressive golden (copper and moly) Phoenix has risen...
...a fire spirit with colorful plumage and a tail of gold and scarlet...a 500 to 1000 year life-cycle, near the end of which it builds itself a nest of twigs that then ignites...both nest and bird burn fiercely and are reduced to ashes, from which a new, young phoenix or phoenix egg arises, reborn anew to live again...the new phoenix is destined to live as long as its old self...the new phoenix embalms the ashes of its old self in an egg made of myrrh and deposits it in the Egyptian city of Heliopolis...the bird's cry is that of a beautiful song...it is immortal!
KY/SGR/Amigo,
Today's low volume completes about a 50% retrenchment from our recent low to high (about a 70% appreciation)...Monday will be a good buy day!
Are there any unknown unknowns??
DRILL--DRILL--DRILL!!!
SGR has become the public historian of Liberty Star...HE will publish THE best seller!!
Yang, you are correct! Thanks...my bad...
The intersection occurs at 1186 feet and an "interval of 266 ft" occurs.
My point is the same, though: no intersections occur above 300 ft. SGR points out that this shallow drilling is not intended to intersect, but rather to continue to add preliminary/suggestive data.
For a fraction of their market cap loss on Wednesday, NAK could have completely bought out their neighbor in LBSR (market cap @ ~ $25M), and gotten some pretty damn decent uranium properties down in Arizona to boot...
...oh, BTW: LBSR could have 6-7 "pebbles" within.
Excellent, SGR...we need to find out where outside Pebble they were drilling!
BTW, I was perusing the following:
"A Table of 2007 Pebble East Deposit Assay Results and a Drill Hole Location Plan are attached to his news release and posted on Northern Dynasty's website at www.northerndynasty.com. Highlights from 2007 drill holes include:
Hole 7359 intersected 2228 feet grading 1.42% copper equivalent (CuEQ1) comprising 0.92% Cu, 0.50 g/t Au, 0.035% Mo. Included in this intersection is a 451 foot interval grading 1.93% CuEQ (0.95% Cu, 1.15 g/t Au, 0.051% Mo).
Hole 7374 intersected 2449 feet grading 1.19% CuEQ (0.61% Cu, 0.42 g/t Au, 0.056% Mo). Included in this intersection is a 497 foot interval grading 1.67% CuEQ (0.83% Cu, 0.77 g/t Au, 0.065% Mo).
Hole 7378 intersected 1846 feet grading 1.45% CuEQ (0.91% Cu, 0.70 g/t Au, and 0.021 Mo). Included in this intercept is a 366 foot interval grading 2.64% CuEQ (1.78% Cu, 1.15 g/t Au, and 0.033% Mo).
Hole 7379 intersected 2560 feet grading 1.17% CuEQ (0.74% Cu, 0.33 g/t Au, 0.040% Mo). Included in this intercept is a 830 foot interval grading 1.69% CuEQ (1.31% Cu, 0.30 g/t Au, and 0.034% Mo).
Hole 7381 intersected 2111 feet grading 1.37% CuEQ (0.77% Cu, 0.64 g/t Au, 0.037% Mo). Including in this intersection is a 911 foot interval grading 1.71% CuEQ (0.94% Cu, 1.00 g/t Au, 0.031% Mo).
Hole 7384 intersected 1186 feet grading 1.27% CuEQ (0.74% Cu, 0.65 g/t Au, 0.026% Mo). Included in this intersection is a 266 foot interval grading 2.03% CuEQ (1.25% Cu, 1.07 g/t Au, 0.026% Mo).
Hole 7386 intersected 2570 feet grading 1.17% CuEQ (0.66% Cu, 0.37 g/t Au, 0.049% Mo). Included in this intersection is a 1810 foot interval grading 1.30% CuEQ (0.71% Cu, 0.41 g/t Au, 0.059% Mo).
Hole 7387 intersected 1961 feet grading 1.44% CuEQ (0.89% Cu, 0.67 g/t Au, 0.026% Mo). Included in this intersection is a 380 foot interval grading 1.75% CuEQ (0.93% Cu, 1.15 g/t Au, 0.025% Mo). "
Notice that only one significant intercept occurs at less than 300 ft in these "highlights"...therefore I'm wondering the likelihood of signficant findings from their 5 drill holes on NAK's purchase from us?? In other words, I wouldn't expect a big possibility of great news from the results of these drillings...
Yes, quite compelling...bought more shares today...and will continue to dollar cost average!
EE, thanks for the breakdown...golden, copper, and moly it is!!
This damn site is addictive!!
Wow, good point! Could bring greater focus to, say, BH perhaps!?
Is Freeport still involved with FMM? And is Rio Tinto really tied to NAK? For the latter, I thought it was just Anglo-American JV'ing...
Great summary, SGR, of "what's cookin' in the oven"...thanks! You are also kind and courteous...much appreciated!!
Milo
Would that not constitute a "material event", requiring disclosure of their drill findings?
Gracias, amigo!
I agree strongly with:
"After all the money NAK/HDI has spent, they will not just give away their efforts. For this only reason, they have to drill the BCSP ZTEM targets and locate the reserves and be ready for the fall back game. One might ask, what does this fall back strategy do for us? Well, first, they have to drill and get everything on paper (at least the preliminary resource estimates for BCSP). By this time, it is material event for LBSR and our PPS would have sky rocketed already."
Do NAK and FMM have a drilling arrangement?
Thanks, FJH...spot on...it's all laid out...we just need to drill, drill, drill (Larry Kudlow style talk)
Technical point: For NAK, nice bounce off the 30d SMA.
Geo-eco-political point/question: if civil unrest starts to spread in middle east with rise in oil ppb, will uranium ppp go up or down? Down due to the expected "tax" on the world from higher oil prices, or up, because of need for oil alternatives...maybe a push then!
Drilling quesiton: how deep were the initial drill holes (on NAK's own Pebble project)?
s4,
"...and probably some on our lands as well as there were other drill holes but they weren't delinieated as to exactly where they were done."
How do you know other holes were drilled?
"If NAK is going to try and find other partners to develop this whole area, or, if they want to be bought out, it will be in their best interests to have REAL PROVEN reserves unless of course they want to sell off the NAK/PEBBLE and then take us fully on under the U5 corporation and then build another NAK type scenario....which of course seems like the thing to do in my opinion."
This is a brilliant and potentially hugely profitable tactic/strategy, for NAK and LBSR! It would only happen if NAK sees good data from our drill holes...
Crujones, good question:
"Wouldn't it be safer for NAK to have everything in place (like they seem to with the paid LBSR claims for the next 12 months) get the initial permitting through and then suck up everything around them?"
But two alternative explanations for why suck them up NOW:
#1 need fallback plan (farther from drainage/run-off problems)...although does anyone know the topography of our lands well enough to say this with confidence? SGR/Amigo/KY??
#2 once they get permitted, LBSR shares will soar immediately!
Milo
FJH...makin' us proud...sweet classical music to my ears!
The two quotes I liked are:
“One company in the U.S. is Energy Fuels, Inc. (TSX:EFR). We've been around that story for quite some time. What we saw last year was a very strong management team moving toward a new license to permit and build a mill in the U.S.?something that hasn't been done for a long, long time. It paid off when the company successfully got that approval earlier this year. We think Energy Fuels is well ahead of the pack in terms of conventional uranium mining in the U.S. In the U.S., there's a scarcity of uranium supply. We see Energy Fuels as a consolidator in the space. It's just in a tremendous position to capitalize on what we think is a very strategic place to be in the U.S.”
“TER: Given the proximity to each other, did Pinetree make its investment in Lithium Americas with an eye toward potential consolidation?
PW: In general, we always look for assets that we think will ultimately be consolidated or could be the consolidators. We certainly see that as something that should happen in that particular region.”
How much silver do we have in our properties? PETER KRAUTH is plugging it...not sure he realizes the better potential of uranium...
"Three More Reasons to Own My Favorite Resource for 2011
BY PETER KRAUTH, RESOURCE SPECIALIST, THE MONEY MAP REPORT
The cheetah is the fastest land animal known to man, able to achieve speeds above 70 miles per hour. It also has the ability to accelerate from 0 to 68 in three seconds, handily beating out most supercars.
Yet those sudden bursts of lightning speed only last so long. After a mere three-tenths of a mile, the cheetah needs to rest.
This reminds me of the price action of one of my favorite commodities for 2011. Silver had a spectacular year in 2010. But if you listen to the average pundit, you probably wouldn’t even know it.
As much as gold gets the lion’s share of attention, the price of silver has gained more since its secular bottom at around $4/ounce. In the 10-year period that ended August 2010, gold had risen some 390%, while silver had gained 350%.
Fast forward to today, and gold’s ahead by 425%. Yet silver has leapfrogged gold’s gains, clocking nearly 600% gains in this bull so far.
And as we peer forward into the year ahead, three factors look highly supportive of this trend.
1) The Silver-Gold Ratio Says It All
In the years leading up to the 2008 stock panic, the silver/gold ratio averaged about 55 – meaning it took 55 ounces of silver to buy one of gold. But the stock panic of late 2008 caused this ratio to shoot upwards, reaching above 75.
Now that was an extreme that couldn’t be sustained over an extended period – much like our friend the cheetah.
As we’ve gradually reverted to the mean since then, silver has sprinted higher, in spurts. With gold near $1,335 an ounce and silver near $28, we’ve already sailed past the pre-2008 silver/gold ratio of 55, and currently sit near 48.
That may signal that silver is somewhat overbought at this point, but as the ratio was stretched to such an extreme of 75, we could well see it continue to march higher…
Albeit after a well-deserved rest.
I would not be surprised to watch the silver gold ratio reach a level of 40, which, should gold regain and hold the $1,400 level, would imply a silver price of $35 an ounce.
2) Silver Is Still Below All-Time Highs
At current levels, gold is already trading 55% above its all-time highs. On the other hand, it’s contrarians who tend to earn the best returns over time.
Keep in mind that silver was one of the best performing commodities in 2010, bettering most of the major resources. And with silver still trading 40% below its all-time high of $48 (set in 1980), the odds seem to favor silver investors for outpacing gains.
3) The Physical Market Is Relatively Tiny
It’s estimated that of all the silver ever mined – about 46 billion ounces – roughly one billion ounces are left aboveground in bullion form. That’s because the rest has been consumed and typically is not economic to recover. (By comparison, of the five billion ounces of gold ever mined, two billion are available aboveground in bullion form.)
In 2009, worldwide silver production totaled some 700 million ounces, which, at 2009’s average price of $14.70, represents about $10.3 billion.
Gold, however, saw 75 million ounces of production, which, at 2009’s average price of $975, totals about $73 billion, or about seven times the value of silver on a market value basis.
A wave of demand will influence more heavily the much smaller silver market when compared to gold.
Small investors clamoring for a piece of the precious metals pie could well push silver much higher, as they buy the metal that’s much more affordable on a per ounce basis.
That means the potential returns on silver could be astronomical for those willing to commit today.
If you’re not already part of it, now’s a great time to take the plunge and ride the silver bull higher.
Action to Take: If you haven’t already, buy iShares Silver Trust (NYSEArca:SLV) at market and use our customary 25% trailing stop to protect your principal and your profits. MMR
Peter Krauth is the Resource Specialist for Money Map Press and has contributed some of the most popular and highly regarded investing articles on Money Morning. A former portfolio adviser and 20-year veteran of the resource market – with special expertise in energy, metals, and mining stocks – Peter is headquartered in resource-rich Canada, but, as editor of the Global Resource Alert, he travels around the world to dig up the very best profit opportunity, whether it’s in gold, silver, oil, coal, or even potash. For more information, call our VIP Services group at 888.570.9830 or 410.454.0498."
From Mad Money Cramer tonight:
#1 Using the same logic as Petrochina/Encana deal, SEC and US government WOULD allow for the sale of NAK/LBSR (if it becomes the world's largest ore deposit) to the Chinese, given our indebtedness to them. CNOOC denial days are long gone...
#2 Liberty got mentioned!!!!!
[okay, LRY...Liberty Property Trust...sorry...hope no one's got a pacemaker reading this...<sign>]
Counting the townsquares in NAK's purchase, a get to ~24 sq miles...so BH was left out of the sale. Not sure why it was mentioned in the NR then!?
FJH, I like your logic (and your music)!
$0.15 is our first target price!!
Well said, SS...
Naked short selling???
Kudos, You're right...JB's "black box" is irritating to many/most of us. While it keeps the stock with a low profile (avoiding hype), it is also unfair to shareholders having to guess about some basic facts for this company and its tremendous potential.
JB! How 'bout some answers:
#1: show us the JV contract (or at least tell us it's not yet signed...yes we have the money from NAK, but we're talking about potentially 60% of Big Chunk going to SOMEBODY else). We have a right to know, damn it!
#2 keep us posted on our other holdings...no news on any progress elsewhere after 1-2 yrs is simply negligent (? arrogant).
Maybe I'm venting, just remembering how impatient I used to be when I owned LBSR into the subpenny zone days...and sold!
Breaking news...PetroChina buys large stake in ECA (Canadian areas)...NAK/LBSR are on the radar of the Chinese (compliments of Mr. Liang!).
Most major gold mining stocks fell today...but on low volume...NAK was an exception. Could be has run so far/so fast (300% in less than 9 months). It's hit it's 30-d moving average...we'll see if it holds.
Nice! I see it's from 12/9/10...good to see we have a following beyond this site...
...I originally found out about LBSR from a advertisement/"newsletter"...can't remember the exact date, but must have been 5-6 yrs ago. The story then, as now, has been so sexy...but my libido might need a lil' Viagra to make it to $ nirvana...good night on that note!
I was thinking this too!! Now this would make sense for Tiffany's (and 70 other jewlers), but Intel? I guess it's not Intel per se, but rather a former big-wig...