Gentlemen,
I would first like to address the statements in the quarterly filing about "going bankrupt" "need for financing" "no guarantee of future results" etc. etc. These are all boilerplate statements for SEC filings and are absolutely nothing to be concerned with. In a highly litigious environment a small explorer has to cover itself by making statements like these. You can put them out of your thoughts: all junior explorers say the same thing.
Regarding gold vs Arizona Strip, this is a very interesting debate. I came to own shares in this company because of the Breccia Pipe target potential, not Alaska gold. Remember that the company decided to save its Alaskan projects for another day due to environmental permitting difficulties in the region. It makes no difference whatsoeve how many pounds are in the ground if you can't mine, and I would direct your attention to the shares of Canadian Zinc as a lesson in this regard. Quoting from their Website:
he Prairie Creek Property hosts a major mineral deposit containing an estimated, 3 billion pounds of zinc, 2.2 billion pounds of lead and approximately 70 million ounces of silver, with significant exploration potential. Zone 3 of the deposit, as currently known, contains a historically estimated resource of 3.6 million tonnes (measured and indicated) grading 11.8% zinc; 9.7% lead, 0.3% copper and 141.5 grams silver, per tonne and 8.3 million tonnes (inferred) grading 12.8% zinc, 10.4% lead and 0.4% copper and 169.2 grams silver per tonne.
And they have a market cap of about 100 million US and shares trading around .70? Amazing!?! Buy it now and get rich?!? Of course not, because they may never be able to mine the property because of environmental opposition.
The Liberty Star Breccia pipe targets, however, offer the investor an opportunity to see real value very quickly. This in mining friendly territory, very high historical yields (meaning low cost per pound to mine), and a high demand high profile high price mineral: uranium.
I also believe that the Alaska gold properties have enormous unrealized value for LBSU. But I don't agree that this is where the company should spend its exploration dollars first.
