GREY:LBEFF - Post by User
Post by
drillbit2008on Dec 18, 2009 2:15pm
318 Views
Post# 16601905
But what it doesn't say.....
But what it doesn't say.....Ah there it is, the new pump job.
“”Liberty Mines (TSX: LBE) is a junior nickel producer that owns two small mines near Timmins, Ont. When nickel soared to $24 US a pound in mid-2007, Liberty's shares touched almost $5.But the boom soon turned to bust. When nickel prices sank to $4 a year ago, Liberty had to shut its mines and lay off its entire staff. Company CEO Gary Nash forged ahead, though, cutting a $30-million financing deal with a major Chinese nickel producer last May. With nickel prices back to the $7.50 range, Liberty's mines are gearing up again. If nickel stays above $7, Nash figures Liberty can return to growth in 2010. Liberty's shares currently trade for 24.5 cents.””
This article is interesting more for what it doesn’t say than what it does. A 30 million financing deal made no mention of the Chinese taking 51%, soon to be 80%. This type of slant on things is very typical of what we can expect from LBE.
Driller