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From Agoracom today
The following response was provided by management,
“We remain in a quiet period on advice of legal counsel. As soon as we complete the S-1 process, we will make comment.”
Regards,
From agoracom:
Yes, the response to the last new release has not been universally hailed as positive news. But it is good news. Here is my email exchange with a displeased shareholder:
Subject: NR 197 - Liberty Star Announces Annual and Special Meeting of Shareholders and outlines Management Presentation at Meeting
“Great idea....add another 5 billion authorized shares so that Briscoe can dither away more cash.”
My response:
“I agree with you: it is a “great idea” given the dire situation presented to Briscoe and the BOD. Clearly as has been demonstrated to us over and over and reported in the media, greenfield hard rock exploration projects have fallen out of favor in the capital markets for now, but they will rise again as part of the Super Cycle. We are not missing the boat on finding funds to finance Phase 1 drilling at Hay Mountain—there is no boat – but there will be when the market for metals reverses as it always does. Any projects receiving funding these days are reviving old mines (new technology, new machinery) or investment in late stage development projects: see Rosemont and Excelsior projects, both within 50 miles of our Tombstone holdings. Briscoe is working with a financial team right now to see about developing some of these late stage development properties mentioned in the below news release.
The “dithering” part I cannot agree with. Briscoe and Liberty Star are in exploration geology. This is not a pursuit for hand wringing or indecision. It is for risk takers. Success or failure are at risk continuously, but are never an end in themselves. The next day will bring more risk with the possibility of more successes or failures, often exogenous to the decision maker. This is true throughout the mineral exploration profession.
If you can tolerate the risk undertaken in the pursuit of new ore deposits, LBSR stock has certainly paid off for the savvy investor when our shares have reached these low prices only to reverse and achieve substantial increases based on good news. This has actually happened with our stock (See stock price charts 2010) Risk and tolerance of risk—if you can accept that trading environment, then this is an exciting time for the company. We see the tide of metal prices beginning their rise. We will be on the rising tide.”
Tracy Myers
LBSR IR
News:
Liberty Star CEO/Chief Geologist Briscoe Updates Manila, Philippines Hay Mountain Project Presentation
Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to announce a very positive response to the meeting and presentation of the Company’s wholly owned Hay Mountain Project by Liberty Star President James A. Briscoe and Director Brett Gross in Manila, Philippines. Mr. Briscoe offers his assessment of the presentation and meeting conducted March 2-3 in Manila:
“We presented the Hay Mountain Project in great detail to a group of 16 long experienced mining professionals and potential investors in downtown Manila, Philippines on Monday. The response was very positive to both the geologic details and the business proposition presented by Director Gross. The company has been in almost constant communication since the presentation, and we believe substantial and important progress is being made toward financing of Phase 1, which will then lead to Phase 2 in the following year.
“Preparation for the meeting took place on Sunday, March 1, 2015, as some of the participants arrived a day early and were staying at the same hotel we were presenting in. The prerequisite to attend the meeting was signing a binding legal non-disclosure and non-compete (ND/NC) agreement. This task had been completed by several of the early attendees, so they were able to partake in generalities about Hay Mountain. The following morning work started at 7 a.m. in obtaining signatures from the rest of the attendees, several of whom had traveled great distances to attend. Once all the ND/NC documents were signed, the meeting started on time at 9 a.m.
“I presented first, reviewing detailed geologic, geochemical, geophysical details and interpretation of the detailed and various studies that have been conducted over the last four years. At the end of about 2.5 hours, we took a short break and then Brett Gross presented the business plan, and ongoing questions and comments were answered and discussed, on both presentations.
“Significant interest continues after the Manila meeting. Four mining experts are expected to travel to Tucson, where a thorough tour will be arranged, which will take an expected three to four days, to examine local large mines that are similar to what is expected at depth at Hay Mountain. The tour will be conducted as soon as travel visas can be arranged. We believe that because of their background they will be as impressed with the potential as we are. Of course success cannot be assured, but this a very strong starting point.
“Other interested parties of significant stature are currently discussing a starting point, which is our stringent ND/NC document. We hope that we can continue meaningful negotiations with them as well.
“Considering the low point in the copper cycle, it is encouraging that we are getting such substantial response, and I look forward to the potential that Phase 1 will be financed soon.”
“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.
Forward-Looking Statements
Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include: that the meetings in Manila, Philippines were substantial and that important progress is being made toward financing of Phase 1, which will then lead to Phase 2 in the following year. Factors which may delay or prevent these forward-looking statements from being realized include: our inability to agree with a potential investor on terms of their participation in the Hay Mountain Project or any project; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; an inability to continue exploration due to weather, logistical problems or hazards even if funds are available. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.
Sell and buy back - or not.
Question on agoracom: (krm@0723)
Did our guys leave yesterday as planned?
Answer:
Yes. Jim and Brett left the USA yesterday morning.
Tracy, IR Rep
Thank you!
Good news!
BELGIUM!!! BELGIUM!!!
Facebook :
Liberty Star Uranium & Metals Corp.:
No, There are still cashless warrants out there. I don't have an exact count (that is what accountants do) but around 20 million or so.
Hmmmm Heineken.
Hope it never comes to 0,5$.
http://www.hotstocked.com/article/9021/liberty-star-uranium-amp-metals-corp-otc-lbsr.html
Liberty Star Uranium & Metals Corp. (OTC:LBSR) Jumps Up on Vague News
Right before market close yesterday afternoon the share price of Liberty Star Uranium & Metals Corp. (OTC:LBSR, LBSR message board) jumped high on news about the technical report on the company's Tombstone Porphyry-Precious Metals Project. Today, more news from LBSR might attract more buyers to raise the price further, but possible dilution limits the upside potential.
Yesterday afternoon Liberty Star Uranium & Metals announced that its CEO has received a first draft of the NI 43-101 technical report covering the company's Tombstone Porphyry-Precious Metals Project in Arizona.
The press release did not contain any significant details, saying only that the property might contain significantly high grades of copper, gold, silver, zinc and other metals.
It looks like traders did not need much more of information and as soon as the news came out LBSR started climbing, closing the trading with an over 31% increase at $0.0375 and a total volume of 6.5 million shares. The surge might continue today as well as early in the morning Liberty Star Uranium & Metals filed an 8-k about a material definitive agreement.
The company has engaged McNicoll, Lewis & Vlak LLC to provide it with financial advisory services, including general corporate advisory, as well as merger/acquisition advice related to LBSR and its core assets. LBSR will pay a fee of $20,000 per month, however, up to $10,000 from that fee can be paid with shares of the common stock priced at a 25% discount on the market price. That means dilution for shareholders could happen monthly, giving the advisors a substantial advantage on the stock market.
High dilution rates should not be a surprise for LBSR shareholders, however. The company's outstanding shares have increased over the past year from 247 million to 602 million as of April 2011, and there could be more to come. According to LBSR 10-K, at the end of January there was a $3 million convertible note outstanding, which if settled by the issuance of common shares may result in 83.8 million new shares. In addition, LBSR has issued stock options and warrants, which if exercised may result in another 204 million new shares.
What's going on there?
Somebody?
Northern Dynasty looks to sell Pebble stake:
http://www.alaskajournal.com/stories/042111/loc_ndls.shtml
Some thoughts?
Is this a real danger?
Group brings fight for fish to Washington:
http://www.businessweek.com/ap/financialnews/D9MARS6G2.htm
Investors Oppose Pebble Mine:
http://www.ens-newswire.com/ens/apr2011/2011-04-13-01.html
Rio Tinto Shareholders Face Pressure on Pebble Mine:
http://switchboard.nrdc.org/blogs/jreynolds/rio_tinto_shareholders_face_pr.html
Thank you.