First Liberty Power Corp (FLPC) Surging on Week Old News

First Liberty Power Corp. (OTC: FLPC) is currently leading the top penny stocks traded in terms of actual gains. FLPC stock price has only increased 5.6 cents but that represents a 186.67% gain. Shares were as high as 0.10 today with volume currently at 2,192,905 shares traded. The Nevada based mineral exploration company that is primarily focused on lithium exploration and development, announced a purchase agreement with GeoXplor Corp. for 70 placer claims totaling 11,200 acres.

You can blame us for not telling you because we also missed the June 4th 8-K FLPC filed. (see here)

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FLPC Stock Chart

Market Cap (intraday): 6.95M

52-Week High
(Dec 13, 2011)3: 0.20
52-Week Low
(Oct 18, 2011)3: 0.02

Avg Vol (3 month): 45,228
Avg Vol (10 day): 34,050

Shares Outstanding: 81.75M
Float: 37.30M

% Held by Insiders: 54.07%

Terms of the agreement are as follows:

FLPC has been granted an exclusive 4 year exploration license in regards to the 2 mineral properties for Lithium and Lithium Carbonate exploration described in the Agreement. One property, the “Lida Valley Property”, encompasses 58 placer claims (9280 acres), the other, the “Smokey Valley Property”, encompasses 70 placer claims (11,200 acres). Once the required payments and work commitments are complete, GeoXplor will transfer title of the 2 properties to First Liberty Power while retaining a 5% royalty, which the Company will have the option to purchase up to 4% of for $1,000,000 per 1%.

First Liberty Power Corp. is required to pay $725,000 over a 4 year period, issue 2 million restricted shares of FLPC stock over a 4 year period, and comply with a work commitment of $1.5 million within 3 years. These requirements apply to both the Lida Valley Property and the Smokey Valley Property, and the Work Program requirements may be allocated to the respective properties at the discretion of First Liberty Power.

The Lida Valley Property encompasses claims previously included in agreements between FLPC and GeoXplor, specifically the Purchase agreement between FLPC and GeoXplor dated December 24, 2009. This Agreement supersedes and replaces all prior agreements in respect to those claims.

Note: Lithium does not trade on any of the global exchanges meaning that purchasers of the mineral usually negotiate directly with the producers. With as many as 90 different versions of lithium, and as volumes and purities vary according to demand, setting a fixed price range for the mineral is not a simple exercise. Example: Lithium carbonate today trades for around $4,500 to $5,200 per tonne, Lithium chloride around $3,800 to $4,200 per tonne, and Lithium hydroxide, used in lithium batteries, ranges from $6,000 to $7,000 per tonne for high-purity, battery-grade lithium chloride while the technical grade ranges from $5,000 to $6,000 per tonne.

About FLPC Stock

First Liberty Power Corp., a Nevada based mineral exploration company, is focused primarily on lithium exploration and development in the U. S. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.

Click here to view the most recent 10-Q for FLPC.

Bottom Line: Think Day Trade when you witness momentum. FLPC is one of the top penny stocks today, but how many times have you seen a stock trade momentum today and sleep for the next three weeks. The 8-K was filed on June 4th, but announced yesterday via an $85 press release. Hmmmm.

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