Over the whole week, LBSR kept gaining volume and value at a measurable and almost predictable pace. Yesterday was not an exception, the stock added another 20.24% to reach its new 52-week high and close at $0.06 on nearly 19.5 million shares traded. Though, after filing the last quarter results, it seems that the company is in an even more desperate condition.
The only thing that remains unchanged are the promotions for the stock, which keep running at full speed. On Wednesday, three promoters disclosed to be providing investor awareness for LBSR stock, supposedly for free. In addition, numerous newsletters still attack the market and alert the “Top Double-Digit-Gainer” to investors. Of course, shorters could not miss the chance to supply the growing demand with a number of shorted shares: on Monday the shorted volume reached 61%.
As for Liberty’s business, there are some changes there, though they are not favorable at all. The company continues to have no proven mineral resources on any of its properties and no progress whatsoever in the exploration has been reported as well. As of April, Liberty did not even have one third of the assets it had end of January, has not improved its indebtedness and the working capital deficit reached the impressive $3.45 million.
Thus, shutting the business down looks even more like an option to be considered. But as at least the stock is doing well, Liberty’s “directors, officers and employees” did not reject the stock options to purchase 95.5 million shares of common stock at an exercise price of $0.038 per share, granted on Tuesday.
