Liberty Star Uranium and Metals Corp (LBSR): Actually Liberty's JV partner Xstate did...

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Liberty Star Uranium and Metals Corp (LBSR)

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Re: chunky post# 38434

Monday, 11/29/2010 8:38:19 PM

Monday, November 29, 2010 8:38:19 PM

Actually Liberty's JV partner Xstate did the drilling that failed. Not Liberty itself. Their drill broke and then they went broke before ever reaching the depths at which JB anticipated finding the Uranium. (This is an important fact, because - as apposed to a truly dry hole- it means that most likely the uranium is still sitting there waiting to be recovered.) So in this case Liberty might be faulted for their selection of JV partner, but not their drilling ability. That might not be any more reassuring, except that their recent range of potential partners including Northern Dynasty and Hunter Dickinson seem to be a vast step upward from Xstate. So I would consider that significant progress.

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