CHICAGO PRESENTATION RECAP - WOWSA
Part ONE
This is going to be pretty lengthy, but I want those who have not had
an opportunity to attend one of the presentations to get a feel for
this one.
Well before the meeting actually started, there were 5 of us I-Hub'ers
already in the room...they were:
rl71582
scorpio71
Ilhabela777
infiltrader
Madanthony2
Right after that, Mr. Briscoe walked in and the 5 of us met him at
the front of the room with full introductions, handshakes, and great
personal conversation.
As we helped Mr. Briscoe get accomodated, the remaining attendees
came in and got seated. I'm really not sure on the number, I
thought 21 including Mr. Briscoe, but other's are saying 18...so
they are probably correct as I spent most of my time directly tuned
to everything Mr. Briscoe was saying.
The meeting was informal and scorpio71 began inquiring about more
information in regard to the possible Chinese 200MM. Mr. Briscoe
said that there may be some misconceptions there, that the money
wasn't just "waiting in the wings". He went into full detail how
that money possibility came about. He made it encapsulated, but
even with that, he was quite detailed. I will not name any
company names except Liberty Star, and the Import/Export Bank
that Larry Liang has a good relationship with - that being EXIM Bank.
Through EXIM Bank and Larry's connection, they took both Larry and
Mr. Briscoe to the company that made the verbal possibility of
financing to their Beijing Offices when Larry and Mr. Briscoe were
in China to tell the LBSR story and see about raising funds.
This company offfice is a high-rise in downtown Beijing, and the
company itself is Huge in China in the Mining Construction end of
the Mining Business. During the meetings, the Chinese group
expressed interest in Liberty Star's Big Chunk Property and
mentioned that they did not get involved in Greenfields operations
but that they definitely would be interested once Liberty Star
began to prove out the property. I believe the numbers I heard
for Second phase that they would be willing to finance was 200
Million Dollars...and as things progressed 2 to 5 Billion to futher
build it out was in the picture. (BIG WOWSA)
Mr. Briscoe then went on to talk about the Fairhills 10 Million
dollar/3 Year financing option and how it all came about. It
appears as though Fairhills approached LBSR after looking at
several companies to possibly finance. Mr. Briscoe had a
discussion with them and then turned it over to the company
attorney and group board discussion. It was overwhelmingly
decided that it was a great way to proceed. By the way, Fairhills
even paid all of the fees to do the paperwork upfront. (It is my
feeling that they see great promise in LBSR)
Mr. Briscoe then went on to talk about the AD-HOC 19 City Tour.
He also detailed how they put together the mailing to all 6500
shareholders and how they got the information and utilized the GIS
expert Dr. Erik Murdock to massage that information and create the
database of the centralized cities. He went on to say that Dr.
Murdock refined it even further so that you can double click on
any area of that map and get down to the individual shareholder
with their name, address, phone number and even number of shares
they had on file at the time the data was compiled. Quite Cool.
Mr. Briscoe also went over again the details of the S-1 and how
the Fairhills deal put a damper on some NR's that could have been
released had it not been for the waiting period. That in itself
is an interesting story but I will expound upon that in another
post...
Mr. Briscoe then went on to say that LBSR has over 25 Million
invested in the properties to date at Big Chunk, North Pipes, and
Tombstone/Hay Mountain and that ALL 3 are Drill ready. He does
prefer to ZTEM Hay Mountain first before drilling.
Mr. Briscoe then asked for questions.
Infiltrader asked Mr. Briscoe about previous Hay Mountain drilling
and about any results there. Mr. Briscoe detailed the Phelps Dodge
drilling and said that they had misinterpreted the data and that
Phelps Dodge had drilled approximately 1 mile to the South of what
his original target area was. Some of this was from older I.P.
data.
Mr. Briscoe went on to say that the "HAY MOUNTAIN" target site now
is totally different than the old area.
Infiltrade then asked about how the working relationship with the
mining in Alaska at Pebble and or Big Chunk would all work out in
the longer term. Mr. Briscoe then went into a very long detailed
explanation about the Alaskan Native Groups, how they are
structured with a Regional Corporation that has sub-surface land
rights, and the Village Coroporations that have the surface rights.
He said that there had been some friction amongst the Native groups
and Northern Dynasty/PLP and that the Native groups understood that
he himself and Liberty Star wanted to approach the exploration and
mining in a very environmentally friendly way. He went on to say
that during the time of friction, that Sue Anieland (sp?) contacted
him by telephone and asked for his input and to try and work on
some solutions to these issues. They seem to have hit it off and
they spoke many times.
In the Spring of 2005, Mr. Briscoe met with the Native Groups which
number about 850. The meeting had to be held in the high-school
gymnasium as it was the only structure in the area that would hold
the 850-1000 attendees. As another poster here identified, Mr.
Briscoe is very concerned about the Native Alaskans and he was
the first one there, and the last one to leave. He addressed the
most annoyed individuals first, working to the least annoyed.
At one point in the meeting, Cyanide use was brought up. Mr.
Briscoe said that Cyanide did not need to be used in Metalurgical
mining. That spawned off another conversation with a group that
I will leave for another post.
Mr. Briscoe then went on to discuss the Mining Camp being set up
right now on LBSR claimed area which belongs to the mother-in-law
of a contact he made. I have his name, but not sure if Mr. Briscoe
wants the gentlemans name on a post board. So, we will just say
that this man approached Mr. Briscoe about building this camp and
that the family is native Alaskan with Etntrepreneurial spirit.
This land area is 44 acres and will be used as the camp and the
stagin area for tools, helicopters, float plane if needed, etc.
He said the wanted to do 4 drills to exercise economy of scale
and that not that much more overhead would be required. He
went into much more detail about personnel etc...but I won't get
that deep here.
He also went on to mention that the particular Native group may
want to invest in LBSR at some point in time and that they have
discussed this possibility. He also said that there is a possible
target in this 44 acre tract of land and that those owner's may
end up being very happy later on.
I have to take a break now. I will provide post number 2 on the
meeting later this evening......
BUT NOT TO KEEP YOU IN SUSPENSE !!!
The item that Madanthony2 was referring to is this.
During the slide presentation, I was taking meticulous notes and
even drawing pictures. The slides were VERY detailed and I even
used the mileage scales at the bottom to figure out exactly where
OUR HAY MOUNTAIN PRIZE is located.
I respectfully asked Mr. Briscoe if he thought that I should post
such information on this or any board...and he glanced at my notes
and my drawing and said something like "I think this information is
really better kept between the company and it's shareholder's".
He said, the reason that information has not been seen anywhere
else is because it really is company confidential but he wanted
to share it with current shareholder's along with potential Private
Placement individuals.
I will tell you this, the drawing had an overlay of the 2.5 mile
E-W and 1.5 mile N-S poryphry and in the middle was the BISBEE
mine at scale "INSIDE" of our footprint. I will also say that
Mr. Briscoe and company already had 5 Primary drill targets within
the condensed area, and I counted 16 Primary targets with several
secondary targets also in the drawing.
ALL I CAN SAY IS : THE LOCATION ISN'T WHERE ANY OF US THOUGHT
IT WAS, AND IT IS MUCH MUCH LARGER THAN I EVER IMAGINED.
So, TODAY, I GOT A WHOLE NEW UNDERSTANDING OF HAY MOUNTAIN AND
WHAT COULD BE UNDER THE GROUND THERE. He also mentioned the
REE's that were discovered in the geochem samples, but said that
is a whole different item and they would do more research on those.
I don't think REE's are the concern at all at this point.
Anyhow, I need to take a break.
I AM HAPPY WITH MY INVESTMENT AND WILL BE ADDING AS MANY MORE
SHARES AS I CAN GET. I WILL BE SELLING A FEW OTHER STOCKS I HAVE
AND ADDING, AS WELL, I MAY CONSIDER SELLING SOME PHYSCIAL GOLD AND
SILVER I HAVE. I REALLY LIKED WHAT I HEARD AND SAW TODAY.
AI
