First Liberty Power (fka FLPC)

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FLPC - CEO Updates - December 15, 2014

To First Liberty Power Shareholders and Supporters:

From the early stages of First Liberty Power Corporation, a core objective has been to actively and proactively move the company forward by formulating and executing strategic operational plans – even when that has involved seeking complementary paths to support the core mission.

Admittedly, First Liberty Power has encountered numerous challenges along the way. Many of those challenges have been endemic to under-capitalized, small mining firms while some have been as a result of mistakes that have been made.

In the summer of this year, the Company embarked on a plan where we sought to obtain near-term revenues by investing in a placer gold operation. The reason for the decision was that the investment indicated a highly prospective and relatively fast/low-cost/simple opportunity to execute – with a clear objective of achieving possibly modest revenues by early fall; revenues that could assist in further project development, cover overheads, and reduce reliance on other forms of dilutive finance.

Progress was certainly made in that regard, including lease acquisitions, permit progress, equipment acquisition, and operational ramp-up. In retrospect, under the guidance of the former COO the scope of the project was expanded to a point that it required extended timelines and exceeded the Company’s ability to meet financial requirements, thus leaving First Liberty Power in a position of being unwilling and unable to further pursue the project.

Concurrently with the gold project, The Liberty Mill opportunity emerged to address one of our fundamental weaknesses, which is the inability to cost-effectively concentrate and refine our antimony ore. Liberty Mill is ideal in many respects, both as a short and mid-term solution to antimony processing, as well as an opportunity to optimize a process flow in anticipation of future plans to assemble a mill closer to the mines.

Additionally, the mill also provides opportunities for tolling and/or JV operations. With Coronet Metals, our partner in Liberty Mill, we believe the opportunities to obtain near-term revenues from the mill are readily attainable, and we have determined that this is a better path to achieve success aligned with our core focus on strategic metals.

As the CEO, it is my responsibility to communicate both positive and negative news. The termination of the contract and resignation of FLPC’s Chief Operating Officer and my long-time business partner was necessary to ensure alignment of vision within the company. It was a difficult decision, but one that had to be made to ensure the best chance for the future of the Company and our shareholders.

We face challenges on many fronts in Lovelock and surrounding areas in addressing prior concerns including supplier obligations, regulatory matters, and general operational advancements. To deal with those issues, we are pushing forward corporately as quickly as possible on the matters of financial filings, the authorized increase and obtaining sufficient financing to get us through the next couple of months until the mill can begin contributing towards the Company’s bottom line.

I am not saying it will be easy as we are reliant on the support and patience of many parties, all of whom are relying on our good intentions to do everything in our power to make this project a success. Yet as a company we are dedicated to doing all that we can to achieve and advance.

Going forward, in addition to addressing our operational challenges, my direction and focus is on the Liberty Mill and FLPC’s antimony properties. Our management team has pulled together and developed a solid strategic business plan and I still have high expectations for this business venture.

As 2014 draws to a close, I would like to thank our investors and shareholders for continuing to support First Liberty Power in a year where discouragements often overshadowed success. I wish all of our investors, shareholders, partners and the FLPC management team, an enjoyable holiday season and the best of health in the New Year.

Don Nicholson
CEO First Liberty Power
- See more at: http://www.firstlibertypower.com/ceo-pop-updates/#sthash.a0ohbe0L.dpuf