Often irritated, never duplicated
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Greetings...
...Like what I see here, just a quick question. Any idea what circumstances would cause a reduction in distribution? I'm not saying it will occur, just curious about opinions by those who have known about this MLP for a while.
Thanks!
Thank you...
...True Dat.
Missing PDAC could be telling indeed...
...and it could be because the talks with parties in Manila thus far were promising enough to warrant skipping the conference in favor of pursuing a bird closer to the hand, so to speak. Nobody posting here knows enough about the meetings to say whether our absence at PDAC might in fact be due to good things for LBSR rather than bad. It could be that Briscoe and Gross have indications that PDAC is not a good use of resources in light of pending matters.
It remains to be seen. I agree with those who mention that spending money on a booth and a presence at PDAC would also be derided by the chronic pessimists.
Go LBSR!
Tangiers makes money selling at these prices...
...and given that they can unload a couple million at the opening bell every day and drive the price down, I bet they can easily get some skeevy offshore bank to short the stock for them too, a nice predictable circle jerk to soak the faithful shareholders. Guess that's what happens when you agree to offer your stock at nearly two thirds below the five-day average.
Consider me completely disgusted with the latest financing arrangement. Better buy those plane tickets to Manila fast before the remaining A/S coupled with the plummeting PPS forces our CEO to ride in the cargo bay of the plane. Yippy-Ki-Yay.
"... if more shares began to fly off of the printing press."
You might as well say the same thing about the financing with Tangiers; it wouldn't matter at all unless the company immediately issued tens of millions of shares, which they apparently did judging by the sudden increase in the OS.
I invite anyone here to post evidence of a RS scenario that did not result in a declining share price post-split. I'm not saying this company will pull an RS, but as we careen toward the end of the AS, it's more and more likely that such a move would become justified in the minds of the management. Having been through such a move with other companies, I would put every share I own up for sale immediately upon such an announcement, with full confidence that I could buy them back later for a fraction of the pre-split equity. Companies with an ace in their back pocket don't wash out their current shareholders, but companies with their back to the wall and wolves at the door will.
I welcome all responsible opinions to the contrary. Feel free to tell me why I'm wrong or link to a beneficial RS story.
I'd love to be wrong...
...but a 62.5% discount to the professional financiers? It reeks of desperation, ineptitude, and ultimately of the end game, unless of course the faithful shareholders (pronounced "cash-cows") vote to give JB a billion more shares to play with.
I have all the shares I need too...
...and they can belong to some other lucky shareholder if things don't change soon. The terms of the most recent financing have given me little if any reason to remain optimistic about the outcome here. Smells like toast, soon to be burnt toast.
I challenge Briscoe and Company to prove me wrong.
From Agoracom:
Good day,
The following responses have been provided by management.
Question: The update of 1/20 states that drilling permits should be approved in "20 to 60 days." But a "season's greeting" message from Mr. Briscoe gives the impression that those deadlines may have been written earlier and there was some delay in the release of this update. Can LBSR comment on this? Even if the 20 days began on the day of the release, we are nearing the 20 days so any general interpretation would be welcome.
Answer: We don’t have word beyond our last news release regarding the timing of permits. We do expect permits soon. The timing is controlled by the Arizona State Land Department. As far as we know the process has been routine. However, the State Land Department has asked for additional details of our program because of its size and scope. We are supplying those details. The State Land department is not constrained by an exact time table.
Question: The map of Hay Mountain produced by LBSR includes a very large green outline labeled as an REE anomaly. There seems to be quite a bit of heated discussion regarding the interpretation of the company's mentions of REEs, including some that question the integrity of the company. As far as we know from public communications, there has been little actual testing for REEs so far and the only conclusion drawn to date (that is not confidential perhaps?) is that there are traces of three REEs. By actually labeling the map with the outline and using the term "REE anomaly" what can be deduce about LBSR's beliefs on the presence of REES here? Does the word "anomaly" indicate any connotation of implied or inferred minerals or is there no actual technical meaning that we can infer? thanks for shedding light on these two issues. I remain a shareholder and have every confidence in the company and its people.
Answer: “Quite a bit of heated discussion?” I’ve seen one person on I-Hub making negative comments about Liberty Star’s statements regarding REEs. That being said, a review of our statements starting May 15, 2012 indicates that there is a definite need to pursue evaluation of REEs at Hay Mountain:
1)News Release 122 (5/15/2012) states “A surprising presence of rare earth elements (REE) has been defined over a large area. This was completely unexpected and justifies further study. The REEs we assayed for are among the 17 REEs now known, are strongly anomalous, and are scandium, yttrium, lanthanum, and cerium. The other 13 known REEs were not included in our assay process. In due course we will re-assay the samples for these additional REEs. Rare earth elements are critical to various civilian and military hardware and are commercially important.” Had there been a precedent for a meaningful REEs presence, we certainly would have tested for more of them when samples were shipped off to the ALS labs in the first place.
2)The anomaly stems from geochemical sampling only, an anomaly is just that: “Any departure from the norm, which may indicate the presence of mineralization in the underlying bedrock” (From the Glossary on our website-- dropdown from the Mining Explained tab). When anomalies are detected, there is cause for further investigation. We have made no comment inferring a resource, because not enough exploration work has been completed. We have a short book put out by the US Department of Agriculture/Forest Service on our website called Anatomy of a Mine from Prospect to Production that is a good primer.
3)REEs are of growing importance to the US economy. CEO Briscoe feels stongly enough about the issue that he addressed shareholders in August, 2013 in a letter titled About Rare Earth Elements. A year later his letter was submitted as written Testimony for the Record to the US House of Representatives Committee on Energy and Mineral Resources for the July 23rdhearing on “”American Metals and Mineral Security: An examination of the domestic critical minerals supply and demand chain.”
4)Will there be commercially important amounts of any of the 17 REEs at Hay Mountain? We don’t know yet and won’t know without further exploratory work. Our position and statements have never stated anything else.
Here’s a few thoughts from Jim:
“I have attended two major professional presentations, and has reviewed numerous industrial news articles and technical reviews and papers on rare earth metals. I have also visited the largest the largest rare earth producer in the USA at the Mountain Pass mine at Mountain Pass California shortly after it’s opening circa 1967 about 48 years ago, and on subsequent occasions over the years. I have talked with metallurgists who operate the mine and have kept up with the Chinese who are the largest producers of REE’s, who’s low selling price forced one insolvency at the Mountain Pass mine – a common tactic the Chinese use to corner markets – illegal in the USA of course.
After the above studies which are ongoing, we unfortunately have found rare earth metal are not rare after all and they occur in very numerous places in North America and elsewhere throughout the world. There has not been more production except for Mountain Pass because Mountain Pass supplied all of the US consumption with many decades of reserves at saleable production rates over most of its life. And the sector of Chinese market/price control.
Our geochemical studies show that rare earths are part of porphyry copper outer metal halos along with other metals- which is a first. We have every technical reason to expect a very large body of metals associated with the main or inner porphyry copper system at Hay Mountain. These include copper, molybdenum, gold, lead, zinc, probably silver, and other metals. These metals have a known demand on an international market, the market for which is expanding. The recovery metallurgy is simple and well known and relatively low cost, and mining methods are also well known. Rare earth metals have very complex extractive metallurgy to separate them out into their different components. There is also hazardous by products that even the Chinese have to deal with in REE mining. The new metallurgical plant at Mountain Pass cost about $1 billion to construct, and is very complex to run.
As we drill test the porphyry copper at Hay Mountain we will also be able to test part of the rare earth anomaly as part of that drilling. We can then determine whether rare earth recovery at Hay Mountain could be an economic enterprise or would it simply result in production of unsalable rare earth metals. We are looking for profit, not experimentation with the unknown or poorly known commodity or something whose market could be undercut by the Chinese or others with a lower cost basis at a moment’s notice.”
As the river said to the bank...
"My sediments exactly"
;)
POG rallies across multiple currencies.
Peter Schiff called the 2008 crash and the su8bsequent run in gold. I tend to listen to him.
http://finance.yahoo.com/video/peter-schiff-qe-4-send-115243121.html
There are juniors finding funding...
...and they don't all have an O/S under 100M. Value Pro posted this on the other board. Encouraging and timely, a domestic project has satisfied the concerns of environmentalists and locals to set a date for breaking ground.
http://www.mineweb.com/romarco-gets-done/
"Was that the bottom??? Let's hope!"
Unless a well-structured deal is announced I seriously doubt it. The most recent news is that the company is ready to increase the A/S by over 10%, not exactly the kind of news that inspires investors to pony up. Hope I'm wrong, but I have to be realistic.
The longs can do as they please...
...and I've grown a bit tired of watching management punt from their own end zone. This last registration notice reads like people who think the entire world can wait for them to get their ducks in a row.
While I have no doubt that manipulation plays a part, I have pretty much lost faith in this company's ability to push a deal through. The last NR also reeked of excuses made for non-progress. I just landed a new job that would give me plenty of cash to scoop up cheapies. Not gonna happen. I refuse to reward the level of performance we've seen here since 2010.
Prove me wrong, Briscoe & Co. I've given you enough time and money. No more. If you can land a deal, I have more than enough shares to make it worth my while. Not one more penny will go into LBSR as we careen toward 80% of the A/S being issued. Show me you can finalize a deal on NPSP and maybe I'll reconsider. Right now it looks like we'll be voting on whether to increase the A/S by 2016, unless of course management decides to lather-rinse-repeat the current shareholders with an R/S.
"Another 7% down so far."
A few minutes earlier and you could have whined about almost 17% down. Be sure to round up, you optimist you.
"Getting pounded here..."
That costs extra where I usually go.
Go LBSR!
"who wants to explain to me what is going on with oil prices?"
Price wars between US and OPEC. We (US) don't like their hand on the spigot, they don't like us flooding the market with shale oil. It's a double-edged sword for LBSR, as we want the middle east SWF's to be flush with cash for acquisitions (they are dropping by the day currently) but at the same time lower energy costs are great for the economic feasability of mining.
OPEC is currently trying to make US domestic oil production comparatively expensive, which it is as we drop below $60/bbl, but OPEC has to be careful, as they can wobble their own economies and invite individual nations to break rank when they need solidarity to influence prices. It also has the potential to increase tensions between Russia and the middle east since Russian energy commodities are falling with the rest of the sector.
And of course the US government loves seeing the economy roar on cheap energy and rising consumer confidence, both largely a result of the falling oil rates. People with more money in their pocket will spend more during the holidays, allowing the money to lap over into the service and retail sectors. Meanwhile the refiners are locking in huge profits by acquiring raw materials at record lows and preparing to refine it and sell when the price for gas recovers eventually, and it will- bank on it.
Go LBSR!
Copper and silver are indeed anti-bacterial...
...but they also oxidize and become semi-porous in the process, meaning that they are mostly unsuitable for work surfaces in hospitals compared to the industry workhorse, stainless steel. Their oxides may become sought as therapeutic supplements and of course the anti-bacterial properties of silver make it popular in dentistry, but I suspect the mass applications for pathogen resistant durable goods in healthcare are not likely to materialize. Just a pragmatic opinion; I'd love to be wrong if it means LBSR gets a boost.
I've said this before...
...China is committed to building 20+ new reactors. Their western provinces are the last consolidated pool of dirt cheap labor on the planet, an agrarian society where corporate multinationals can pay farmers to come in from the fields and work in factories at rates that are very attractive to shareholders.
I still think this trend is a bit underappreciated by those pricing commodities like U and Cu. Labor is the biggest cost factor in many manufacturing processes, China is committed to growth at all cost, and the plans to power up the rural provincial regions and attract industry are well documented.
In my opinion, it's just a matter of when and who. Regardless, there will be a sustained need for thousands of miles of copper to deliver power to these areas. I do not imagine in my wildest dreams that the bean counters high up in multinational's HR departments aren't planning to exploit western China's unique resources. Indian Labor costs have risen sharply, Russia may be poor enough soon, but geopolitical instability makes them a risky bet for major investment, the rest of the inexpensive labor pools are geographically scattered and thus logistically less desirable.
In short, China needs to power up, Uranium is the first step, copper will distribute the power they generate and will also be a key component in much of their manufacturing process. These things have a way of looking obvious in retrospect, but seeing them in advance can be much more profitable to those who invest wisely.
Go LBSR!
I'm not sure why he'd need a visa...
...an ordinary passport should be fine unless he's coming here to work for a US company.
Go LBSR!
We could get above .12 pretty easily.
The number of green days has been pretty steady recently. I have to think that the spinout of Hay Mountain and the addition of Brett Gross are not pure coincidence. There is likely a deal in the works, although what terms and how soon are yet to be seen. Just knowing that a funding partner is in the wings and is negotiating terms will keep a lot of shares locked up. I had a few lowball orders in recently, 10% below current ask on the chance that a typical Friday slide might occur, or a large order below ask would tempt someone and I could tag along and pick up some cheapies. No dice, they just weren't there, and the shares that did change hands were still supporting the recent gains.
I wonder what kind of PPS and volume we'll see when a letter of intent hits the news feed. I have target prices for a bit of flipping, but it may be hard to part with too many if the PPS takes off and sustains the gains.
Anything is possible- Go LBSR!
Hallucinations! Circus tents! Hot air! Dangling carrots!
Buzzwords! Tactics! Short interests! Put options! Be afwaid! Be VEWY afwaid!
"he's paddling quick..."
Yes, but I'm not sure both oars are in the water.
: )
But what is the catalyst?
I still like the story here, but for those thinking we are going to dollars, what specific event will make the market think MMTC warrants a sudden $25M valuation? A buyout by a major like J&J or 3M? That's a long way off unless their university partner publishes a very well received and documented study and the rest of the identifiers are in place at the time.
So at this point, I have to assume that the impressive recent upside moves are simple loading by traders, and they will take what they can get in fairly short order. I have free shares left here since I took profits and left a free position on the run to .019, so any significant move is gravy to me. I just don't see any pending developments that would carry this back to post-split PPS.
Yes, we have heavy insider holdings, yes those folks are probably working hard to enrich their own portfolios, but I don't see a business model that will suddenly leverage the company's intellectual property into multiples of current prices. I'd love to be wrong, and I'd definitely learn a lot from the experience if it happens, but I'm not seeing it.
Opinions to the contrary are welcome. I'm not trying to assist the saboteurs, just keeping it real. MMTC has intriguing technology and a long history of plodding along unprofitably with it.
This week's gains are holding nicely...
...Seems that many here are anticipating news that will establish a new floor under the PPS. I guess I may have to set the prices on my orders a little higher if I want them filled.
To my friend, Ilhabela, it's coming. I'm sure you get the picture.
: )
Go LBSR!
Forward split dividends rarely turn out well in OTC markets...
...and the company issuing them could attract much more attention and shareholder loyalty by issuing a real dividend. Why don't they do that instead? Because they don't have the cash or revenues to do so, which should tell you everything you need to know about the real value of your free dividend shares. I've seen it a few times and it seems to always be a ruse.
I consider LBSR a high risk speculative investment, but the addition of Brett Gross to the BOD, the spinout of Hay Mountain as a subsidiary, and the pending meeting with a representative from Dubai are all suggestive of a deal (or two) in the making. Add the potential for revenue through leasing North Pipes and I like our odds more now than I did when we were still joint ventured with NAK.
The knowledge and experience of Briscoe and Guilbert could become tremendous leverage when a suitor steps forward and agrees to fund one or more of our projects. When gold was retreating from record highs in the 1980's, some huge names were about to be made from the discoveries and acquisitions of stocks that big board brokers laughed at. Price spikes in the precious metals sector garnered attention from funding long after the price had topped out.
As a person who grew up around smart, rational and scientifically literate people, I see the power inherent in knowledge that the markets are slow to comprehend. Seeing a trend based on facts not yet widely known is one of the few ways to beat the markets. Briscoe's methods are solid, and the assertions derived from them are backed up by some vary capable sources. Can he close the deal and bring the shareholders to the promised land? It remains to be seen, but I am encouraged by recent developments.
Go LBSR!
Gold Prices and Economic Feasibility:
It seems that calls for $700/0z gold may be premature. Those who trade gold on paper and inflate currency would love a steep slide, but it seems there is plenty of support anytime we get close to real capitulation.
And of course companies like LBSR depend on gold prices to keep the majors interested in green field projects. Even though our claims are well diversified and could be desirable on copper or uranium (and maybe REE's), gold is big global news and sustained prices over $1100 are necessary to keep the majors busy.
I still think the pending Swiss referendum vote has something to do with this barrage of projections for falling gold prices. Comex and Da Fed don't want to get caught with an empty vault and let everyone see the man behind the curtain. Once the referendum returns are in we'll see if falling demand is real or pure manipulation. Hard to imagine that gold can fall too far with constant buying from 3/4 of the BRIC nations.
Go LBSR!
http://finance.yahoo.com/news/central-banks-gold-bugs-120320972.html
http://www.zerohedge.com/news/2014-10-14/swiss-gold-referendum-%E2%80%9Cpropaganda-war%E2%80%9D-begins
I hope you're right...
...and I agree with your logic, assuming of course that the entity from the middle East invests in the first place.
The plunge in oil prices is a strong catalyst for OPEC nations to diversify, and indeed the word through their SWF's is that they remember the hardships due to watching oil prices crash post-embargo in the 70's, and that they need broader exposure to commodity and equity markets to avoid a repeat.
Go LBSR!
Nah, shares are kinda tight right now...
...How about you sell yours to me? I'll be adding a few in the coming week. You should probably play it safe and get your money out while you can, maybe buy an umbrella to protect you from that dark cloud you've nurtured for years now.
Go LBSR!
Manipulation of gold markets may hit the wall...
A) It's a general referendum, (B) it requires only a simple majority, and (C) the basic question is "Would you like your gold back home where it belongs?" (DUH!?!)
Take this in context of the truly fiscally conservative Swiss banking system and it appears that a modern gold rush may be setting up in Europe despite all attempts by the world's bankster cartels to spin it as a distant long-shot.
"A yes vote to the referendum is expected to set in motion a chain of events which will increase pressure on the Federal Reserve and ECB to expedite the repatriation of Switzerland's offshore gold holdings. It will also push the U.S. central bank to have to find gold they assuredly have leased out over the past decade to fulfill this request, and judging from their inability to repatriate Germany's gold after last year's demand for its return, the ponzi scheme that has been done to use gold leasing to prop up the dollar may have dire consequences to the Comex, the Fed, and the global reserve currency.
While it is still 16 days until the official vote and referendum in Switzerland, the markets are reacting to the news as if it were assured that the vote will be yes, and that the Swiss people will push for an immediate return of their sovereign metal being held offshore in U.S. and other European vaults. And should these entities be unable to deliver this gold back to the Swiss in a reasonable amount of time, the result for gold prices could be a breaking away from paradigm of several years of manipulation, and cause the rest of the world's currencies to react negatively to the rising value of precious metals."
http://www.examiner.com/article/rumors-of-swiss-repatriation-vote-sends-gold-and-silver-skyrocketing
One of my friends received the same package...
...He's a member of the Sierra Club, so I assume he was on a mailing list that Redford's organization bought. Regardless of whether Redford is successful in his anti-Pebble efforts, Big Chunk is likely dead in the water for the time being. Thankfully LBSR has a diversified field of prospects like Hay Mountain and North Pipes. Frankly I won't be surprised if we stop paying claim fees on Big Chunk at some point. How much cash should Briscoe burn on a project that is huge, but politically blacklisted for the forseeable future?
Big Chunk is likely a desirable strategic alternative to Pebble, but one that NAK can now also leverage given that we handed them several targets in exchange for the loan forgiveness. Perhaps in the future, copper or gold demand and a change in the political climate will enable the development of a project in that region, but holdng one's breath might not be prudent.
BUT, I really like the coalescing of forces between uranium prices and the interest of Genesis Group in our North Pipes project. The influx of revenue into LBSR would solve many problems and send a signal to the vultures that we are no longer hanging by a thread, i.e. announcing the potential for Briscoe to start a drilling program at Hay Mountain with or without funding partners. Thinking about grabbing some more shares while we're still under .02...
(PS- You'll be receiving another large envelope soon! =-)
Go LBSR!
It's nice having interest on two fronts.
Ideally we strike a deal on North Pipes that will enable some funding toward Hay Mountain. As the O/S creeps toward its upper limits, we need a solid source of funding to offset the perceived weakness that might tempt suitors to stand back and wait for desperation to set in. LBSR will be negotiating from a stronger position if we can secure a revenue stream via Genesis.
I am visualizing your steadfast patience paying off in a big way so that you can live the life of your dreams offshore. Let's make it happen.
Go LBSR!
Not seeing much capitulation here...
300K shares pried loose, not much more out there at these prices. Must be plenty of folks who can see the writing on the walls.
In a logical sequence of events, the hiring of Mr. Gross, the spinout of the Hay Mountain LLC and the news about Genesis Group being revealed as uranium spot prices surge, it all leads to...?
Go LBSR!
Doesn't a full flush beat a full house?
Great News, Eli- Many thanks for all the info you share!
I have a good feeling about these recent developments. Time to watch some patience and diligence pay off.
Go LBSR!
Thank you Sir! I hope all is well on your end.
Maybe these guys? http://genesisgroupky.com/3.html
Genesis Group International Inc?
Has anyone seen much background info on this entity? I'm searching around and find many companies with similar names. just curious if anyone has info on the specifics of their proprietary technologies, other projects they work on, etc.
LOL...
What part of "Wholly owned subsidiary" don't you understand? LBSR is about to tie a bow on Hay Mountain and watch revenue streams develop.
Also, I hope some of you are also considering that local geology could support the kind of assays that might be news all on their own. If we pull some cores with the kind of grams-per-ton yields seen at Bisbee, there will be plenty of free publicity for LBSR and their other projects.
Meanwhile uranium seems to be growing legs by the day. GO LBSR!