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777
Yeah - I agree with you. I'm saying that something big is up and IMO it's all to the good. I think something came up as a result of the one hole - maybe grades and showings - or some investor/jv/newco or someone just stepped up to the plate. I'm also saying it was not planned or anticipated. I'm basing this on what seems to be a very sudden change of plans - at least from what I can see.
Please note - All IMO.
GLTAL
F9
Just checking in and whoa. It seems to me that something significant has happened - throughout the tour and as recently as a week or two ago we were going to drill several tests - likely in several locations. We figured we had enough money to do this, plus the announcment in re: ZTEM at HM really confirmed that.
Now suddenly we are only doing one hole at BC and not another until May of next year. So this is a major plan shift in mid-execution. I agree that one hole is not enough to convince investors. But maybe there is a fence sitter that just fell off to the jv side after seeing the results - all that blue? - maybe a new BOD member with deep pockets and connections, maybe the Chicoms, but I doubt it - they play safe - but maybe.
By not drilling we are not drawing down the expensive FH money, thus limiting dilution. Maybe better money is at the door. I think something big is afoot, though, but can only speculate - NAK, any number of mining cos.
Another reason I believe something is up - the weather today in Newhall, AK - on lake Illiamna - "Cloudy with occasional rain showers. High around 50F. Winds ESE at 5 to 10 mph. Chance of rain 40%". (Per TWC) If the weather was bad recently it isn't now - at least not terrible. Can heli's fly in 10 mph winds? Bad weather might have caused an interruption to the plans - at worst - but this appears to be something more.
All IMO
F9
LOL Sorry - my fault - TD means Total Depth or the time when we reach total depth.
F9
T.D. today or possibly tomorrow, IMO. Watch for NR. (Just a guess, of course)
F9
777
Do you or anyone else know whether we will get results from the hand held on cores as they come up (more or less in real time) - or will we have to wait for assay results to come back - which may take months?
Also, has anything been said as to how drill targets will be selected based on the cores. Do you think that we will see drilling on target 2 in the first round of drilling?
TIA
F9
SGR - I remember your posts and agreed with them back then. I think your foresight is coming to pass. There is more data now and soon we will have some cores to look at. IMO first cores next week maybe sooner
F9
Notice that the Pebble deposit is open to the North - in the direction of Target 1 - maybe a couple kilometers max I think. It's possible, and IMO likely, that NAK has done geologic work in that direction. Work that we just don't know about - maybe a couple drill holes, nothing that needed to be reported out just yet. Or maybe the ZTEM/weed or other studies indicated that the mineral deposit at Pebble trended to the north into our Target 1 zone. Could be that internal to NAK the geo's believe we have something up there - something something that in some way is geologically linked to Pebble - and maybe they are pushing - just thinking.
All just speculation, of course, but would like your opinions.
F9
777 can the water/drill mud be reused? Once it circulates to the surface and cuttings are screened out can the water return into the drill hole.
If this can be done, (I assume some would be lost) wouldn't the amount of drilling from 5000 gal be much more than your calc.
Just wondering
F9
King: I know. I was one of those cavemen and we used shovels - thought they were state of the art at the time - as opposed to pointed sticks. We turned over some pretty interesting stuff. It's been a while but now that stuff is leading us to new targets using even better tech.
Thanks for bringing me up to date.
F9
I asked JB about the early drill holes at the Dallas meeting and he was a little vague about it but said there was a lot of information about them in the SRK report. I think he knew what he had and didn't want to reveal it that early. Of course I never went back and checked it out so the significance passed me by.
IMO this is another step in the right direction
Wish I had bought more two days ago. We're getting closer.
GLTA
F9
Anyone seen "2016, The Movie"?
coiling EOM
F9
Blue: Great find - thanks
F9
777 I think you are right about the claims and the bracketing
F9
The additional nine claims are important. All IMHO.
F9
Wasn't the run to .19 kicked off by announced drilling plans? What's with the price action now?
F9
I believe it is also open to the NORTH (towards target 1).
F9
Great find Belge
One more piece of evidence that the EPA should be shut down or radically overhauled
F9
Gem:
When JB was in Dallas he said they were planning 4 holes on each of the id'd targets - total 28 holes. That's changed now but haven't heard what the plan is - just the 10 holes at BC.
Anyone?
F9
Gold56 - Where is your reference on the lead and silver - not questioning your info but I missed this and just want to add to my LBSR folder.
TIA
F9
777:
What is the MM/HDSN fiasco you are referring to?
TIA
F9
Belg:
Thanks for all your hard work and being quick to post important information. This is going to be a great ride.
F9
Thanks 777 eom
Is there an ignore function and, if so, how do you use it??
TIA
F9
Blue4:
My guess is that LBSR will never be a production/mining company. They don't have the personnel or background for it. There's a good chance, however, - unless they are bought out completely - that they could become a project generator - use their geologic knowledge and connections to generate projects, then JV the project to some mining co/operator for cash and an interest. Then repeat the process. These sorts of companies go after projects the big dogs won't touch, then when they prove them up they, they cash out. They can do this because they are quick, very good at geology, and have a good industry reputation.
PPS? - wish I could see the future - higher than where we are though (IMO).
F9
Big resistance in the .04 to .045 area. A close above that and it's off to the races. IMHO
F9
777
I believe the "Ripe Tomato", as you call it, is shown in Fig 10-24 of the Technical Report, page 94 of Part B - Area 1.
The thing to notice is that it looks like it falls over onto NAK land. If there is a continuous ore body overlapping both LBSR and NAK properties, then might not some sort of JV be in the cards.
Any thoughts?
F9
777
Thanks - I guess I just didn't hear it right. Was taking notes at the time. thanks for clarifying
F
777
Did JB mention anything about A&P deciding to hold onto their shares - that they had started to believe in LBSR for the longer term - as an investment. Seems like at the Dallas meeting he said something like that while I was taking notes - just a vague recollection.
TIA
F9
I believe JB said that the target close to Pebble is one of the best and that RT also felt there was an ore body there based on ZTEM and other data. Hearsay only, so can anyone verify this?
F9
JB mentioned at the Dallas meeting that there were a couple of more NR's to come out soon.
F9
R:
This may have been mentioned but private placement money go directly to the company for company use. If you buy shares in the market the funds go to the selling shareholder.
Just an FYI.
GLTA
F9
Thanks, I appreciate the kind remarks. Just checking back in - EC great summary - let's keep them coming. Looking forward to someone reporting out each of the last few meeting. And Belg - great idea to summarize and paste in the bookmarks.
I have been with LBSR since around 03 or 04 - before White Sox was drilled. At no time have I been as pumped as now. Based on what was said at the meeting we are at the point where we move from planning to doing. IMO this is a great time to be long LBSR.
One other thing I forgot to mention. Someone asked him if the cores from White Sox matched up with the new data (ZTEM, etc.) He gave a lengthy, technical answer (told the guy to re-read the SRK report) but I believe the answer was a yes. Someone might follow up on this at an upcoming meeting.
GLTA
F9
Here are the notes from the Dallas Meeting:
First an important caveat: The meeting went fast and I tried to take accurate notes, however, I could be mistaken on any of the points below. The following is what I thought I heard. In addition, many of these notes reflect my opinion of what was said so they may be misleading. If you have questions, try to relay them on to others attending future meetings - or post them. If I see them, I will try to answer them. In other words, do your own due diligence. These contain lots of my impressions and opinions.
There were about 12-14 people there. Front to back meeting lasted about 3 hours - was supposed to last 2 as I understand it.
Meeting went fast. JB opened by going around and introducing himself to everyone there and then made some comments about how he wanted to be sure shareholders were informed and had a chance to participate in the private placement before utilizing the Fairhill's facility. He had seen many deals and Fairhill's was a good deal for Liberty Star but the shareholders deserved to participate first.
The cycle time for permitting is different in each state. In Arizona, we need to have an arrowhead search, which adds 30 to 60 days to the permitting process. Not needed in Alaska. Permitting process is underway in both states, I think he said.
Alaska is ready to drill and we will start there as soon as we have the money. My impression is that it will be first. He figured we need 1-2 million and could start as early as the August - Sept time frame. He is planning 4 holes over each target (12 targets) - each from 1000 to 2000 feet deep. Costs run about $100 per foot up to 1000 feet then $200 over that and even $300 per foot if you get even deeper. Did not say how this might break down.
I got the feeling that once shareholders made their decisions regarding private placements he would figure how much more he needed from Fairhills and then proceed with the drill plans. If you are thinking about participating, you might move fairly quickly - just my gut feeling though.
Someone asked how his health was and he said it was good - maybe needs to do more walking.
Said Salazar over blew the danger to uranium contamination in the Colorado River. A number of groups are suing Salazar to open up the area again - what we need is a change in Admin.
He noted that Northern Dynasty has found a number of other ore bodies on their claims but they are just concentrating on getting Pebble up and running. (What this told me - he did not say this - was that Pebble is not a "one off" deposit but that this caldera is host to many ore bodies and that they are just as likely to be on our claims as on the ND claims.)
None of our claims is on Native Land - they are all on state mining land. However, there is a 40-acre tract (a Native Allotment) on our claims that is native land owned by the mother of one of the Natives that JB knows well. This person is a friend to LBSR and wants to build a camp on his mother's place. He will provide us all services on a leased basis for our drilling operations. By doing this we avoid the lengthy process of getting permits for building the camp - the Natives do not need permits - they can just build at will. Or so it sounded. This will save us a lot a lot of time and helps to build relationships with the natives. This particular individual is very supportive of LBSR and our efforts.
In total, there are about 850 Natives in the entire region. JB mentioned that they held a meeting at the High School gym and he tried to be the first to arrive and the last to leave. He said he tried to talk with the most negative person first and worked his way through all the natives to the least negative. As a result of this personal focus, Liberty Star has a very positive reputation with the Natives and they are positive to having Big Chunk drilled and mined. There is even a Native Corporation in Alaska with over 1 billion in cash that is considering funding LBSR. JB mentioned this but did not elaborate. Overall, it sounded like we were in good standing with the Native population - unlike Northern Dynasty - again, just my impression.
JB estimated that at least 3 million has been spent to fund the environmental groups but the Natives are beginning to grumble that the environmentalists just want to keep them poor and to limit their opportunities. My impression is that he thinks the tide is turning against the environmentalists. LBSR seems to have reasonably good relations with the Natives at this point.
He mentioned we were getting a new Comptroller - someone from Vancouver, but did not mention any names. Mentioned that there were several additional news releases to come soon - probably in the next few weeks.
He feels the Fairhill's deal is a good one for us - mentioned that Fairhills is good to work with - they wanted to be part of the LBSR exploration effort and even paid all legal expenses to put the facility together - around $100,000. Our attorney, et al, reviewed everything and felt it was a good deal for us as well.
JB talked about his improved method of laying out the mine and tailings in what sounded like a big mound of dirt in a ring around the whole deal with a place inside the ring for catching all runoff. I think he said that no water from the mine would ever leave the site but would be recycled. Others may have a better concept of how this might work. He has presented this to environmental officials and was told it solved 90% of environmental issues. Mentioned that Rosemont was (or will be) using this approach in AZ - likely why he made visits to Rosemont in the recent past (my inference).
Mentioned the Chinese company as discussed here previously. There are a number of others looking at JV's including UAE, the Alaska Corporation, and others.
Silver Bell is on hold. There are multiple targets at HM. Mentioned there might be a JV in the cards for part of Tombstone. Not sure I heard all this right.
Talked about the improved resolution with the new software using every ZTEM line on the Big Chunk rather than every other. Said it was 5 to 10 times better than the earlier analysis, which used every other line.
He had not shown many slides at this point and it was about 5 PM. About half the group had to leave and he asked if we wanted to stay and see the slides. Someone said we could just view them on the website and he said they would never be on the website as they were very proprietary. So we stayed to see them. He may have shown them at all the meeting so may not be anything new here. We spent about an hour looking at these and he discussed their implications.
Hope this is of help. Again, do your own due diligence, and if you can possibly make one of the future meetings you should do so. Sorry this is so long but we covered a lot of ground. Please correct any mistakes.
F9
GLTA
Dal: See u there.
Anyone going to the Dallas or Houston meetings?
Thanks
F9
Anyone going to the Dallas or Houston meetings? PM me - sorry I can't PM back due to board restrictions.
Thanks,
F9
News Release posted to website
This is great news and a smart move. The pps does not reflect the value underlying this stock and JB can throw light on the value better than anyone else. I've seen other promotional tours lift share prices significantly in other stocks.
With more exposure comes an improved pps, (the financing will be less dilutive of course) but more importantly a greater number of people will come to know the company. It will also brace up the sagging support due to apparent inaction which, IMO, is causing investors to give up and throw in the towel.
IMO this is the kind of exposure LBSR needs. Wonder if Vollmer or Larry will be at any of the meetings?
IMO once this gets underway we might just kiss the .02's goodbye.
ALL IMO. Do your own DD
F9