Liberty Star Uranium & Metals Corp.

Combining Classic Mineral Exploration with State of the Art Technology

Free
Message: NR 95 LIBERTY STAR PAYS OUT CREDITORS, CONTRACTS WITH NORTHERN DYNASTY MINERALS

I'm so completely shocked that I'm still trying to wrap my head around this.

Is this correct?

The company now has Northern Dynasty as a partner.

It owes NAK 3 million at 10% interest.

Has 1 million in cash.

NAK may still agree to invest up to 10 million in exploration.

So, basically, the company has to service the debt with the 1 million in cash and use that for exploration, too, but NAK has basically saved Liberty Star from oblivion and has given a HUGE vote of confidence in Big Chunk by taking 13% of the claims in exchange for 4 million dollars?

Meaning, potentially, the rest of the claims are worth far in excess of that?

I'm pinching myself.

Share
New Message
Please login to post a reply