Replies to post #37046 on Liberty Star Uranium and Metals Corp (LBSR)

[xZx]

i doubt briscoe was a huge fan of the former lenders. warrants at .10 were in combination with a lot more at .002, and you might recall it was the settlement of a lawsuit. they were his adversaries.

i'm sure he would have rather given these loan sharks warrants at $30.00 per share...

but think whatever you want.

[rocco2]

check,
yes to early
my question is
how long will we have to wait till we see the consolidation of the entire sector? my guess 6 months, i believe all players are in house, and it is just a matter of legal ,why such a hurry up permits, anglo wants this gig done

[StrengthenNumbers]

Briscoe never intended to honor the warrants to Alpha


When LBSR secured the funds to pay off Alpha and Platinum, he most likely assumed they were paid and he was done with his obligation to them. A quick look at how many parties they are suing at any one time might make that viewpoint seem naive, but as I understand it, the warrants and the payoff were an either/or option in the contract, but they shook him (and us) down, knowing they had no real downside and he couldn't complete the JV with a lawsuit hanging like an anchor around his neck.

So they played a filthy trick and got their shares. He may have originally set the .10 price thinking it wouldn't matter once they were paid off. As far as the lower price for the recent options, I assume those are acquisitions for insiders or partners, and the price reflects a sweet deal offered as a favor, sort of like earnest holdings to seal a deal. JMO.

And if anyone has documentation showing the Alpha/Platinum debacle was different than described, feel free to correct me. I'd like to understand that situation better, as a lesson to reference in the future.

[onemessageonly]

You are completely full of it. Quit this silly game.