Sometimes, press releases can be just as powerful as large-scale promotions and Liberty Star Uranium & Metals Corp. (OTC:LBSR) is a positive evidence thereof.
Yesterday, LBSR stock skyrocketed by gaining 62.5% in value. Thus, it closed at $0.0325 per share, which is not only LBSR’s highest market value since Oct. 2, but also the biggest nominal percentage increase of LBSR stock for the last 12 months. LBSR’s surge is even more impressive in the light of the record-breaking 10.7 million shares of common stock which changed hands yesterday.
As it seems, the company’s spectacular chart run on Dec. 13 might be attributed to the official press release which popped up on the very same day. LBSR issued the update to inform its stockholders that it had now received a full-blown NI 43-101 technical report on its Big Chunk Super Project. The latter is located in Southwestern Alaska and has been explored for porphyry copper, gold and molibdenum. According to the report, all holes drilled on the site indicated the availability of multiple porphyry systems.
Needless to say, the latest news about LBSR has received rave reviews from penny stock investors, hence the increased interest in LBSR shares. Provided that the above mentioned technical report reiterates the positive initial statements once it has been published in its entirety, market players will most probably form a new upward trend for LBSR stock.
