Replies to post #17568 on Liberty Star Uranium and Metals Corp (LBSR)

[moondoggy]

There has been a formal transfer of ownership of the purchased land. The purchase and earn-in are interdependent. Deal done!

[onemessageonly]

The title was warranted and transferred(conveyed) to U5 Resources Inc. This is the subsidiary of Northern Dynasty Minerals. It was/is set up to hold the interest of the claims(Liberty Star).



From that,



"In a letter agreement signed on June 29, 2010, the Group purchased certain claims (approximately 60.7 square kilometers) adjacent to the Pebble Partnership’s Pebble Project from Liberty Star Uranium & Metals Corp. (“Liberty Star”) for a consideration of US$1 million in cash (approximately $1.1 million) and a loan advance of US$3 million (approximately $3.2 million). These claims are included with the mining claims and related assets secured by the loan advance (note 5(a)) until formal transfer of title to these claims has been effected. In terms of the Pebble Partnership agreement with Anglo American, the Pebble Partnership has the right to acquire these claims and reimburse the Group for its acquisition costs incurred."
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7414091

Transfer has concluded




Deal is done.