FLPC on Alert for a solid move. Today at 3:00pm they announced the press release below. The market reacted well to this news by increased volume, large bids, and closing at HOD! Hearing rumors of more news coming soon.
First Liberty Power Advances Growth & Capital Strategy
Date : 03/12/2013 @ 3:02PM
LAS VEGAS, March 12, 2013 /PRNewswire/ -- First Liberty Power Corp. (OTCQB: FLPC), an innovative exploration and development company focused on supplying "Mined in America" strategic minerals for current and emerging technologies, announced today a clear path towards achieving near term production and revenue on its Fencemaker Antimony property as well as the furthering of the development of its key Lithium, Vanadium and Uranium properties.
In order to meet the core objective of bringing revenue and cash flow to the Company, the primary focus is on bringing Fencemaker antimony property into production. FLPC's partner, Stockpile Reserves LLC (SRLLC), is finalizing the selection for a mining operator to implement the structural support at the mine entrance, and to undertake ore extraction. Simultaneously, work is progressing on all other required aspects of regulatory compliance, staging area setup, ore transport, and milling / refining setup. FLPC management currently anticipates initial production to commence within 3-4 months of the completion of funding, with full permitted production levels being achieved 3 months thereafter. Funding of $1,700,000 has been allocated specifically for all aspects of bringing Fencemaker into full production, including operating capital. FLPC current projections indicate that in the first 12 months of full production, Fencemaker operations will contribute approximately $7.2 million of top line revenues to the Company.
Equally important for the growth plans of First Liberty, is the rapid progression on the company's Lithium and Vanadium/Uranium properties. A budget of $900,000 has been allocated to undertake a final geo-magnetic work program on the Smoky Valley Lithium property, followed by a confirmation drill program and 43-101 report for both Lida Valley and Smoky Valley, and a detailed radon survey on the Vanadium/Uranium property. Upon completion of these programs and successful geological validation of the merits of the properties, First Liberty will be able to fully map out the next steps and timelines for bringing these properties into production.
CEO Don Nicholson adds, "In order to be able to complete these property development activities as planned, we will be providing full details on a $3,000,000 structured finance offering to be undertaken, highlighting our efforts to make this a long-term and non-dilutive financing for the benefit of current and future shareholders. It is vital that First Liberty management continues to follow the guiding principles of our Pathways of Progress, together with regular and transparent communications with the First Liberty shareholders, in addition to completing daily operational targets focused on bringing revenue and profits to the Company."
AI
