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I believe some of the selling yesterday was from people trying to get liquid in order to put the money in a private placement. Yes I think drilling will happen. And soon!
You can count me in for 2K.
For starters, read the last paragraph of Hay Mountain/Toomstone Super Project at the top of this very (LBSR Investerhub page). It starts with "The Hay Mountain property is mainly underlain by a thick sequence of Paleazoic quartzite, limestone and silt stones...The magnetic surveys have determined that Hay Mountain hosts a large dominant magnetic high that lies buried below the Paleazoic sediments...
You have no personal knowledge weather or not JB has presented this to the professional community. Nor do any of us know if any proposals have been offered. Drilling should tell us the real story and if JB is proven correct then LBSR should receive more favorable terms.
James Brisco has always stated in his reports that according to his geologic interpretation of the are, - the Hay Mountain porphyry lay under a basin filled formation. It was always presumed that the porphyry was underlain by a thick sequence of Paleozoic quartzite, limestones and silt stones. Since no previous copper outcroppings were found it was presumed that that the porphyry was buried under a hard layer. The fact that anything at all was found at the surface was a geologic surprise. I don't know how thuriugh a boots on the ground investigation was performed by JB in the past but I believe him when he says he was surprised to find what he found which seems to indicate that the copper has managed to leach out above this hard basin filled layer even if it is just a tiny amount. The Ztem is the main indicator of what lay below the hard layer of rock. JB believed that the Hay Mountain are had been overlooked by previous prospectors because nothing was found on the surface and they could not have known about the buried porphyry. How difficult is that to understand?
There is a normal procedure for doing business in mining if you have a good potential prospect but no money. You sign a contract with a mining company that is well established. In this contract you lease the land and the right to explore and drill to that company. Your share of the spoils if something is found is outlined in the contract usually as a percentage of the gross for "X" number of years. It would be interesting to know if JB ever got offers to persue this avenue or if he has ever persued it at all. I dont think it is too late to persue this avenue now. It doesn't take much time and expense to contact the "Majors" with this consept in mind. The zetm clearly shows potentialI. I would personally like to know what offers that he has gotten and if he is simply holding out because of greed. If this goes bust I will be pisses and I would hold JB responsible. There is no reason why this should ever go bust with the z-ten done and the plant analysis and all the other indicators. This should be a reasonably easy sell. It's just a matter of price!
Take the "10" Eastbound
Take "80" south close to Benson
Go past Toomstone and Davis Rd is in your left.
Good luck!
You might get a better view of Hay Mountain if you drive about a quarter of a mile past Davis Rd and look east.
I have dealt with Patricia Madaris on the phone. She is thoroughly professional. She also does all the paperwork for the private placements. To imply that she is a mistress or an escort just shows how juvenile and delinquent this board has become. Her salary is in no way excessive.
This stock is up 19.5% after hours at .0043 with an after hours volume of 1,703,663 at 4:05 pm est. according to the Wall Street journal. quotes.wsj.com
That was shortly after someone brought the price down with 300 shares. Was that you? Sounds like it could be the way you are pumping fear.
Last trade was 300 shares. The self gratification games continue. At least the bid is almost twice the size of the ask.
"Success consists of going from failure to failure without loss of enthusiasm" - Winston Churchill
I give James Brisco credit! He is not a quitter like some on this board.
Go JB
What would LBSR want to keep secret? I can understand to some degree the non compete agreement but as far as non disclosure? I would think that Brisco should be happy if word got out about the size and scope of anything he has found. It's my understanding that the big mining co's would only sign a two year agreement which was not enough for JB. I hope he didn't disrespect them. If he has something viable at Hay Mountain then some form of lease agreement can be made with a mining co. Whereby they finance and drill their own project at hay mountain in exchange for cash and royalties. It may not be a great deal but certainly better than bankruptcy. The door to these mining companies should not be completely shut.
Sullivan a Republican won the Senate race in Alaska over an incumbent Democrat. Now maybe we will see some changes.
In an interview during a layover Wednesday, Sullivan said he was interested in serving on the commerce committee, given the importance of fisheries to the state. He also expressed interest in the environment and public works committee, where he said there would be opportunities to address one of the issues he campaigned on -- the "overregulation of our economy" -- and possibly the armed services committee.
Sullivan is a Marine Corps reservist and served as an assistant secretary of state in President George W. Bush's administration. He also has served as a state attorney general and natural resources commissioner.
He acknowledged there will be a lot of competition for committee slots. "That's why it's important for me to get down there and start working it," Sullivan said.
If uranium prices are currently low it would make sense for Genesis to mine as much of it now rather than later so as not to have to pay a premium royalty to LBSR. That however is not such a bad thing for LBSR as it means more money sooner rather than much more later. Can they stockpile it and sell it later?
Or could it be this group?
https://www.genesisgroupinc.us/aboutus.html
Lets see if I got this right.
LBSR will be the parent company of HMSP.
HMSP is the Wholly owned subsidiary of LBSR (meaning that LBSR will own 100% of HMSP stock)
HMSP will be a holding company that ownes shares of other companies to form a corporate group.
Do I have this right?
DEFINITION OF 'WHOLLY OWNED SUBSIDIARY'
A company whose common stock is 100% owned by another company, called the parent company. A company can become a wholly owned subsidiary through acquisition by the parent company or spin off from the parent company. In contrast, a regular subsidiary is 51 to 99% owned by the parent company.
A holding company is a company or firm that owns other companies' outstanding stock. The term usually refers to a company that does not produce goods or services itself; rather, its purpose is to own shares of other companies to form a corporate group. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies.
one hundred billion is ( ONE HUNDRED THOUSAND MILLION ).
S&P down 1.5%
LBSR up 8.7%
WOW!!!!!!!!!!!!!!
THAT COULD BE A POSSIBILITY!
("Or does the SEC have an agenda by protecting PD over some covert missrepresentation regarding the JV pending with JABA(?)!")
I dont understand! What are you talking about? Who is suggesting there is a JV pending with JABA? What is the basis of that missrepresentation?
A meteor exploded over Arizona today!
FCX (Freeport-McMoRan). The company was founded in 1987 and is headquartered in Phoenix, Arizona.
For a $400. bid why didn't you just slap the ask? It would have only cost you about $16 extra. And thats probably less money than bringing your entire position in this stock down 3%.
You have no personal knowledge weather or not any deals have been presented or are on the table.
from Wikipedia:
In finance, a convertible bond or convertible note (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company or cash of equal value. It is a hybrid security with debt- and equity-like features. It originated in the mid-19th century, and was used by early speculators such as Jacob Little and Daniel Drew to counter market cornering.[1] Convertible bonds are most often issued by companies with a low credit rating and high growth potential.
To compensate for having additional value through the option to convert the bond to stock, a convertible bond typically has a coupon rate lower than that of similar, non-convertible debt. The investor receives the potential upside of conversion into equity while protecting downside with cash flow from the coupon payments and the return of principal upon maturity. These properties lead naturally to the idea of convertible arbitrage, where a long position in the convertible bond is balanced by a short position in the underlying equity.
From the issuer's perspective, the key benefit of raising money by selling convertible bonds is a reduced cash interest payment. The advantage for companies of issuing convertible bonds is that, if the bonds are converted to stocks, companies' debt vanishes. However, in exchange for the benefit of reduced interest payments, the value of shareholder's equity is reduced due to the stock dilution expected when bondholders convert their bonds into new shares.
Correction: The note matures in one year after issuance.
Liberty Star Uranium & Metals Corp. (OTCPK:LBSR) announced a private placement of convertible promissory note with new investor, JMJ Financial Group Inc. for gross proceeds of $500,000 on August 14, 2013. The principal amount of note is $555,000 and the note was issued at a discount of $55,000. The note will mature in one year from the issuance. The note may be convertible into common shares at any time from 180 days after the date of each payment of consideration, at a conversion price which is 70% of the average of the three lowest closing prices in the 20 trading days previous to the conversion. The investor will invest $150,000 initially in first two tranches. The company may repay the note at any time on or before 90 days from the effective date of the note with an interest rate of 0%, after which the company may not make any further payments on the note prior to the maturity date without written approval from the investor. The company will pay one time interest of 12% if the company elects not to repay the note on or before 90 days from the effective date of the note
I could be completely wrong about this but i believe that the private placement convertible note with JMJ financial that i think was signed August 14th can be repaid within 90 days at 0% interest otherwise LBSR cannot make payments till maturity (which I think is 180 days after August 14th) and will pay 12%. So it could be that another financial deal has come up that would allow LBSR to pay off JMJ. IS THIS CORRECT? Any other thoughts?
Huh??? Doesn't that Zebra property on the map appear to be the Hay mountain property?
Count me in as well!
Does anyone have any news on the hearing for summary judgement in Alaska? Could todays action have something to do with it?
Dont forget me! I still keep an eye on the board occasionally. I am still very positive about this company. Go Liberty Star!
Yang. are you in SF.
I concur. I believe that happened earlier this year when there was a prolonged silent period - just before the Fairhill's financing was announced.
Is that your bid?
Exactly! My sentiments as well!
If we can assume that the caldera at tomestone is round and its area is 215 sq miles then its diameter (across) is about 16.5 miles and its circumference is about 52 miles.
With all do respect to NAK - they did offer a 40/60 JV. However that could have potentially been a nightmare for LBSR.I believe It would have relinquished total decision making control on the LBSR BC properties to NAK, and NAK could have decided not to even touch those properties for the next 50 or 100 years. Im guessing that their carrot was the 40/60 JV and the stick was the threat of calling the loan. The carrot was rotten and the stick even worse. Thanks to Mr. Brisco playing his cards correctly - the deal we now have is far better than the original40/60 JV offer. We kept most of our property and have 100% control. JMHO
If NAK could have seriously taken advantage they would have taken all the claims. They didn't because they couldn't. Brisco had leverage in order to keep NAK from getting everything. Whatever that leverage was (probably some other offer), it forced NAK back to the table to negotiate with LBSR. NAK is in the business of making money - they do not give charity - they did not give a loan to LBSR out of benevolance, It has been speculated on this board that NAK gave the initial loan to LBSR to prevent Anglo from getting the claims if LBSR went bankrupt. This makes sense. Most likely it was a strategic move with the hope that at some point when LBSR was most vulnerable they could call the loan and LBSR would default. Lets not forget that NAK has done didly-squat over the past two years to further clarify the resources on the LBSR claims and all the while LBSR was accruing interest of 10% a year. I do not believe that NAK ever had the best interest of LBSR at heart. They had their own best interest at heart. I am not chastising NAK for this. This is only natural in the business world. At the heart of their own best interest was to get all the claims. I commend Brisco for getting out from under a very difficult situation. I commend him for never signing the 40/60 JV which NAK tried to shove down his throat. I commend him for forcing NAK to make a deal. NAK may have accumulated some chips in this first round of poker but LBSR still has plenty of chips left and after round one LBSR a stronger company and NAK can no longer look at their cards. The handcuffs are off, LBSR is debt free, what LBSR owns is almost unimaginable. Full steam ahead!!!