Momentum Day Trading: Liberty Star Uranium & Minerals (LBSR)

Shares of Liberty Star Uranium & Minerals Corp. (OTC: LBSR) are  nearing the 52 week low for the penny stock. The RSI indicator is barely hovering over the 30 mark after LBSR finished the trading session at .0205, down -6.82%, to close below their 5, 10 and 20 Moving Average. Focused on uranium, copper, gold, molybdenum, silver and zinc properties, Liberty Star Uranium & Minerals Corp. is an exploration stage company engaged in the acquisition and exploration of mineral properties in the States of Arizona and Alaska.

In Mid-March, LBSR filed an S-1 with the SEC to register an additional 200 million shares of their penny stock. The company has been filing 8-K’s almost every other week reporting more and more unregistered share filings. The recent 200 million shares of the penny stock are said to secure up to as much as $10 million from Fairhills Capital Offshore Ltd., a Cayman Islands exempted company. As of the date of filing of the S-1, LBSR had 7,699 shareholders holding 642,631,457 shares of their issued and outstanding penny stock.

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LBSR Stock Snap Shot:

Market Cap: 14.14M
Shares Outstanding: 842,631,457

52 Week High
(7/5/2011): 0.0745

52 Week Low
(1/13/2012): 0.017

5 Day History:
Percent Change: -10.48%
Moving Average: 0.022
Average Volume: 756,853

Support & Resistance
1st Support Level: 0.0192
2nd Support Level: 0.0179
1st Resistance Point: 0.0226
2nd Resistance Point: 0.0247

LBSR Working Projects:

• North Pipes Super Project: Located in Northern Arizona on the Arizona Strip, the company plans to ascertain whether the NPSP claims possess commercially viable deposits of uranium. LBSR has not identified any ore reserves to date.

• Big Chunk Super Project: Located in the Iliamna region of Southwestern Alaska, the company plans to ascertain whether the Big Chunk claims possess commercially viable deposits of copper, gold, molybdenum, silver and zinc. LBSR has not identified any ore reserves to date.

• Bonanza Hills Project: Located in the Iliamna region of Southwestern Alaska, the company plans to ascertain whether the Bonanza Hills claims possess commercially viable deposits of gold and silver. LBSR has not identified any ore reserves to date.

• Tombstone Porphyry-Precious Metals Project: Located in Cochise County, Arizona, the company plans to ascertain whether the Tombstone claims possess commercially viable deposits of copper, molybdenum, gold, silver, lead and zinc. LBSR has not identified any ore reserves to date.

Notice a pattern here? This calls for a change in LBSR directorship. Someone call Harry Lappa and see if he’s busy.

On the brighter side, LBSR recently updated the progress of exploration activity, specifically the geochemical program, on the company’s Hay Mountain claims of their Tombstone Porphyry-Precious Metals Project that’s targeting copper, molybdenum (moly), gold and other metals. The nearly 1,800 geochemical samples collected (along with 3 paperclips, an indian head penny, an old comb which could have belonged to Wyatt Earp for his moustache, and a hand written note excusing Johnny from his homework assignment of yesterday dated May 13, 1953) were sent to the ALS Minerals certified geochemical analysis lab in Vancouver, British Columbia.

Rumor: The exploration activity was actually sparked by a helicopter tour’s sighting of what looked to be a black thong which Paula Malcomson may have worn during her filming of the movie “Tombstone.”

According to page 22 of the S-1 filed by LBSR with the SEC,  “The closing price of our common stock on March 8, 2012 was $0.310 per share.” Images of pigs flying and Pink Floyd’s “Wish you were here” are resonating for anyone who reads that as biblical since the penny stock hasn’t even seen 8 cents let alone 31. It’s an understandable mistake considering that James Briscoe,  CEO, CFO and Chairman of the Board and Director for LBSR is 70. Not much could be asked for hiring a proofreader since Briscoe is reported to have taken home $1,513,550 in compensation from LBSR in 2011 (S-1, page 32). That’s just slightly less than the amount LBSR reported as Net Loss for the nine months ended October 31, 2011.

To view the SEC filings for LBSR, click here. For LBSR Current Stock Quote, click here.

LBSR Contact:
Liberty Star Uranium & Metals Corp.
5610 E Sutler Lane,  Tucson, AZ 85712
Phone: (520) 731-8786    Fax: (520) 844-1118
IR: Tracy Myers (520) 425-1433         [email protected]
http://www.libertystaruranium.com

Bottom Line: LBSR had an Accumulated Deficit of $49,639,049 as of Oct. 31, 2011. Is the mineral exploration ever going to find something worth being able to add to the top line of the income statement? Stranger things have happened.

In any case, LBSR has some volume and momentum at certain stages of the penny stock and is worth jotting down as a day trading idea. If they find Paula Malcomson’s black thong in their mineral sample collection from earlier this month or Wyatt Earp’s comb, they could probably get $10 for them on eBay, $7 on FrogAds.




 

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