About a month ago Liberty Star Uranium & Metals Corp. (OTC:LBSR) had a couple of impressive sessions, after the company announced it had received the first draft of the NI 43-101 for the company’s Tombstone Porphyry-Precious Metals Project.
Yesterday LBSR had another outstanding session, although this time there was no PR. LBSR closed at $0.067 for a 25.23% gain on approximately 17.2 million shares.
The PR didn’t provide details about the 43-101, but it was quite enough to get the price surging. An 8-K about an agreement with McNicoll, Lewis & Vlak, which was also welcomed by investors and traders.
Yesterday’s performance, however, didn’t have its basis in a PR or an 8-K. It seems the active trading was mostly due to expectations and the chart.[BANNER]
Some traders were unhappy that the final draft of the 43-101 wasn’t ready yet. Trading didn’t just begin at the open, it took a while to get going, but once it did it went on without the need of any updates.
There was a lot of chatter about the chart of LBSR, and while technical analysis doesn’t always work perfectly for OTC tier companies, the chart does look good.
Still, a final draft could affect the market better, if there are more details in it, and the results are positive. For now, there is no update on the matter. It will be interesting to see if the chart alone can drive LBSR higher.
