Replies to post #24038 on Liberty Star Uranium and Metals Corp (LBSR)

[phord]

I don't think they have received any cash yet....?

[Crystalballz]

Read the Filings/Reports and look closely at dates/money

I say it already happened

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54274682

[Crystalballz]

5 [a] page 11

Loan Receivable
The loan is a secured convertible loan that earns 10% interest per annum calculated monthly and has
the following terms:
i. The loan is secured by assets and mining claims owned by Liberty Star in Alaska, USA, in
which the Group can earn a 60% interest if it spends US$10 million in exploration and claim
maintenance over 6 years, subject to the signing of a definitive earn-in and joint venture
agreement (“JV” Agreement).
ii. The loan is to be paid back to the Group upon 45 days notice after the earlier of
a. The completion of the earn-in spending; or
b. The Group decides to voluntary terminate the JV Agreement provided the Group has
spent at least US$1 million in earn-in expenditures; or
c. Liberty Star terminates the JV Agreement due to a superior 3rd party offer.
iii. The Group may elect to deem the outstanding loan (including interest) as part of its earn-in
requirements.
iv. The loan is convertible until the loan is repaid or deemed paid into common shares of Liberty
Star based on a 5 day volume weighted average share price provided the Group has spent a
minimum US$1 million in earn-in expenditures.
v. The Group can call the loan if no definitive JV Agreement is signed by the Group and Liberty
Star and shall be due within 45 days after being called.
http://www.sedar.com/CheckCode.do;jsessionid=0000u3mnApbPP9WELA92OUfFpCe:-1