LBSR

Liberty Star Uranium – LBSR Showing Strength

Following a rise of about 100% in the past week, shares of Liberty Star Uranium & Metals Corp. (OTC:LBSR) jumped another 28% on Tuesday as traders continued to focus on the company’s recent announcement about their development in their Tombstone Porphyry-Precious Metals Project.

On May 26, 2011, LBSR announced that its CEO James Briscoe got first draft of the NI 43-101 style technical report. However, most of the important information s were not mentioned, the report said that there is huge potential to generate high grades of copper, moly, gold, silver, lead, zinc and other by-product metals.

It looks like, traders are more optimistic on the stock and awaiting some more good news from the company.

Liberty Star Uranium said that have been working on the progress of the project and expect to come out with the final report within next 30 days.

The company is also promising to explore core drilling as soon as they can. But, the recent rally is sustainable?

Tough to say LBSR may need to dilute its shares as they may need to pay to McNicoll, Lewis & Vlak LLC worth $10.000 in shares against financial advisory services.

The company had $1,100,315 of cash and cash equivalents as of January 31, 2011. However, noticeable, the company has negative working capital of $2,193,786.

Liberty Star Uranium & Metals Corp serves as an exploration stage company with a focus on the acquisition and exploration of mineral properties in the States of Arizona and Alaska.

More info on uranium mining stocks

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