Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (LBSR: OTCQB) is pleased to announce that it has completed a non-brokered private placement with a private US accredited investor for proceeds totaling USD $50,000. There was no brokerage commission paid.
The Company will use the funds for payment toward the current ZTEM survey program over Liberty Star’s Hay Mountain property. With this funding, the ZTEM program announced in NR 152 will be paid in full. Geophysical electromagnetic and magnetic data collected by the ZTEM survey will be processed and interpreted by Geotech Ltd. in collaboration with Liberty Star within about two weeks after the overflight of the Hay Mountain property and its environs. Porphyry coppers, other mineral bodies and geologic features have distinctive characteristics which can be detected and interpreted by ZTEM technology which allows modeling or “seeing” conductive or resistive features from a few hundred feet (100 meters) to depths as much as 6,000 feet (2,000 meters).
Current Hay Mountain ZTEM survey update:
Geotech has sent word that the survey aircraft has left the Toronto area today and is expected to arrive in Sierra Vista, Ariz., about Saturday, June 8th. There will be about three days setup of ground geophysical recorders and base camp computers. When that is complete the ZTEM overflight should begin, barring unfavorable operational or weather issues.
The stock at this moment is now up better than 70 percent in the last 11 trading days (and rising on very active volume for this time of day), and this is still without confirmation that ZTEM work has begun.
Care to revisit your opinion that funding for ZTEM will make no "change in the company or price per share"?
Th stock is UP FIFTY PERCENT IN FIVE DAYS as of this moment, and you don't think it was in anticipation of this news? Tell me, then, what do you think is behind this move, or are you merely guessing that the stock will not rise further?