Liberty Star Uranium and Metals Corp (LBSR)

[StealthSwimmer]

There are currently 2 companies that have similar JV's with NAK. One is LBSR, the other is Full Metal Minerals(who's informal JV is actually PLP).

Both companies have been silent since their JV's were announced, not just LBSR. There just isn't much to report for these projects. Drilling is the next logical step and we know that's on hold during the winter. Announcing a final definitive JV is also a possibility as well but regardless NAK is spending money and continuing exploration.

I spoke with the IR person at FMM yesterday. He basically stated what we've been saying for a while... no drilling during the winter and they are letting PLP do their work towards permitting before the company spends a lot of money on this project. He was a little more forthcoming with their drill plans and stated that he was fairly certain there would be drilling and it would probably be June at the latest. I asked him why they also didn't have a definitive JV agreement and he said he'd try and get an answer and get back to me. None of these companies seem to think a signed definitive agreement is going to be the catalyst that we do.

I don't think these companies are being silent.. there just hasn't been much to report and we aren't in a position to force action from NAK or PLP. If the silence makes you nervous then exit any position and wait for news. You may or may not be able to buy back in at these levels but long term you'll probably make money. The more confirmation you get and the longer you wait the lower your return. Figure you what piece of news you are looking for before you buy and enter at that time. It's that simple.