Ok, here is my summary of the first presentation. So please skip if you want to be surprised. I am going to try and be factual--no opinions or analysis. First, JB said one of the purposes of the tour is to give current investors the first opportunity to become private investors. I need to find out more about this. Tracy was talking to someone and I couldn't wait. The presentation was often technical (geology) in nature with lots of slides of maps so I will cover highpoints more as bullets rather than an ongoing description.
--JB mentioned the toxic financing and how that company in NY wanted 95% of the company in addition to other "dilutive" conditions. They wanted more shares. He said no.
--He realizes that the NAK deal, 10 mil over 6 years for 60% was not that favorable to LBSR but there was no choice
--The company was pretty quiet for a while because the SEC requires a quiet period related to the S-1 with Fairhills. But, contradictorily, since the SEC also requires releasing material events, he did release some news in that period
--The company as we all know started with Big Chunk but moved to North Pipes focus when the "environmental furor" in AK began. Then after some drilling, the 2008 crash occured. After that was the experience with the toxic lenders.
--Pebble is actually a pancake shape not cylindrical like model porphyry systems. Dr. Jhon Guilbert told JB he has never seen a pancake system. Maybe someone could ask more about this?
--If AZ were a country, it would be the 2nd-largest copper producer in the world after Chile. JB mentioned the Resolution Mine nearby having copper at 7000 feet and seemed to think this deep mineralization may occur in other areas around here
--There was a guy there who had done sampling in Tombstone. He pointed out that he could do about 30 to 40 soil samples a day or 20 veg. On other words, it takes a long time!
--They want to drill in AK first and then AZ. Money is an issue on the Ztem over the Tombstone claims. JB mentioned $2 million. Again, meeting goes fast. maybe someone could confirm that.
--here are a couple weird ones that JB could not say much about. One in the last 48 hours, two entities who had said no to any JV expressed new interest. Maybe another possible question, but not sure he can say more.
AND FINALLY...this literally happened in the last minute of the presentation and, to me, (the only opinion I offer in this whole post), it was a zinger. JB said that because of Larry Liang's "organizational skills" there are parties in China who have shown interest in BCSP. But JB said something like they cannot get involved in "grassroots" things. If and when drilling reaches the core (?) of minerals, ot could be possible that these Chinese entities would invest millions. Again, I don't think he could say much more, but maybe someone could see if he can say anything else. It was almost an aferthought right at the end, but it seemed huge to me. Just nothing for sure, but shows LL has been working! OK, hope that helps. I'd still be very intrested in other analysis and opinions of this post and , of course, reports from other metal tour stops.
AI
