Liberty Star Uranium and Metals Corp (LBSR)

[leifsmith]

Liberty Star Management - comment on East Silver Bell

The company released this statement yesterday, June 21, 2017:

Before we put much planning effort into the ESB, let's make sure the repeal is going to happen. But a few general answers:

The land is immediately adjacent to ASARCO mining property with a sophisticated Heap Leach –Solvent Extraction- Electro Winning (HLSXEW) state of the art facility so the scope of the interests become exponentially larger and more compelling.

Lawsuits have proved problematic in this area for environmentalists: the entire effort was created around the Cactus/Desert Pygmy Owl. The preservationist effort broke down in the liberal leaning 9th Circuit Court of Appeals a decade ago, who declared the Owl not endangered. Perhaps the specter of a lawsuit being a loser doesn't appeal to these groups anymore. They may aim their resources where they think they could win with less effort. There would be more than just Liberty Star in the area if development becomes possible, so a united legal front would be present in opposition to environmentalist efforts.

Hay Mountain remains our premier property. Should funding become available, we are ready to mobilize Phase 1a drilling quickly. We are talking with many people both nationally and internationally regarding Hay Mountain. We are a small, nimble company and could move to developing ESB if that became a possibility. We have the resources in southeast Arizona to move on both projects if circumstance and funding allows.

Before President Trump's April 26th Executive Order, ESB was a motionless project. I think we would be remiss in our responsibility to create shareholder value if we did not seriously reconsider ESB given the large amount of work that has already been put in millions $$ in technical data that we own 100%. According to Mr. Briscoe's calculations, this could be a producing mining franchise with built in infrastructure at an 80-billion-dollar total potential for all targets, which have been carefully located by the same exploration techniques used to define the ESB target. Using a standard multiplier for the total effect of large porphyry copper mine(s) of 7x the expected economic effect for the surrounding counties, cities and the State of Arizona would be about 600 billion and would be a boon to the area. These mines, using our new technology would have no esthetic effect nor environmental effect in any way.

Is it a home run right now, today? No, but Jim listed the reasons we must not ignore the East Silverbell Porphyry Copper Project in his comment letter to Secretary Zinke. The cost of doing so is extremely low and the leverage could be gigantic.

https://agoracom.com/ir/libertystar/forums/discussion/topics/692113-questions-for-tracy/messages/2156710#message