Replies to post #55987 on Liberty Star Uranium and Metals Corp (LBSR)

[ValuePro]

I think I got that piece too. Whenever and however it was I first got interested in the Big Chunk story, I do not recall. What I do recall is that the stock price was then too high for my comfort, especially given that the story was supported by a single claim group.

BUT, a lot of knowledgeable people were already into to the stock by this time. I respected their judgement and my own DD as I consider myself pretty knowledgeable in this area, but as I said I found the price too high. I was just late in hearing about it. I very much liked the Big Chunk story, however, and followed Liberty Star closely ever since. About the time the stock fell into my comfort range, the company announced acquisition of the claims in the Arizona Strip, so that cinched it for me, as I am also familiar with the history of uranium mining there. So, I bought. Much later, and being discouraged over lack of progress demonstrated by the company, I bailed.

In '09 and '10, I ended up getting in and out a couple of times, because I couldn't believe that all the claims in the stable by that point could be worth so little as reflected in the capitalized value of the company. Discouraged again over lack of progress I was out entirely by the time the results of ZTEM survey were released, but I failed to act then. However, I began buying again when the deal with NDM/NAK was announced, and I am thrilled that progress is now to be seen on multiple fronts. I'm also thrilled that the market is "giving" away shares at these prices. Half of my holdings have been acquired in recent months from the upper 2s to the lower 4s. ...still buying on dips.

I almost never say such things, and it embarrasses me to do so, but this is by far the potentially most rewarding vehicle I've ever seen in my decades of speculating in the exploration-phase mining sector. I see this as potentially more rewarding me as my best ever pick, which was Diamond Fields Resources. I bought DFR for 50 cents back in the early '90. It was taken over by a major a few years later for what amounted to about 43 dollars per share. Too bad I didn't have more at risk in that issue. I'll not make that mistake on this one.

VP in AZ