Liberty Star Uranium & Metals Corp.

Combining Classic Mineral Exploration with State of the Art Technology

Message: New 8-K: reason for drop?

I don't think the new loan would have influenced the share price.  Diagonal Lending has loaned us beaucoup amounts over the years - started under BG.

If you go to the last 10-K report, and go down close to the bottom, there is a section of Financial Statement Schedules and Exhibits.  Look for Exhibit Numbers 10.nn - it lists all the Promissory Notes LBSR has had with lending sharks, er..., companies.  Started in 2020.  BG eventually found Sixth Street Lending, which changed its name to 1800 Diagonal Lending, as the 'go-to' source.

You will notice beginning in April 2021 and continuing through March 2023, we got a new loan every 2-3-4-5 months.  My assumption is that at that point, 1800 Diagonal Lending became leery of continuing to throw money at us.  Again, my assumption is that BG couldn't find other lenders, and that is when PO stepped in and rescued us.

You will notice this newest note is the third note with 1800 Diagonal Lending this year - again, my assumption is that they are more confident now that PO is running things, and have resumed throwing money our way.  As far as I know, all that debt was converted to stock when it matured - they may own more LBSR stock than anyone other than PO.

One other side note - again an assumption on my part.  There is a company - Sixth Street Speciality Lending (TSLX on the exchange) that is "the North American direct lending platform of Sixth Street, a leading global investment firm".  My guess is that TSLX was not too pleased when Sixth Street Lending took their name, and convinced them to change it.

And one other note - for what it is worth.  TSLX is a solid investment - pays a 9% annual dividend.


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