A new $40,000 promotion for the stock of Liberty Coal Energy Corp. (OTC:LBTG) hit the market yesterday. The exploration-stage company with no proven mineral reserves and a poor cash position got profiled in a number of stock promotional e-mails over the last two days and its share price could climb further above $1 dollar today. 
Shortly after the last promotions for LBTG expired, the stock tanked to an yearly low of $0.56 about a week ago, but since then the stock is again accumulating value and looks like it would almost recover. As already mentioned, the recovery is now also supported by promoters. Yesterday, LBTG surged to $1.05 in response to the new campaign and closed at $1.03 with a 6.19% share price increase and a volume of almost 964,000 shares.
Now it looks like the third parties interested in LBTG share price appreciation decided it was high time for a new promo attack before traders loose their interest in the shares. The company also played along, announcing a new member of its Advisory Board yearly in the morning. As usually, promoters warn that the hiring party or its affiliates may have LBTG shares to dump on the market any time and make the share price fall down again.
The latest updates of LBTG after its previous promotion could not extend the promo effects, maybe also showing that the achieved price level is unjustified. In the middle of last month, Liberty Coal Energy appointed Robert T. Malasek to serve as its CFO, Secretary and Director. The former CFO Edwin G. Morrow will remain LBTG President and CEO and will keep his place in the company’s Board of Directors.
At the end of March, the company said that was permitting the 2011 drill program on its Northern Wyoming coal project and that it expects drilling to commence in early summer. According to the latest 10-Q report, LBTG will have to spend $2.75 million on the development of the property that is named as the “Sheridan County Project” in the report. The agreement was signed in March 2010.
Since then the company has incurred total cost of around $150,000, mostly general and administrative expenses, and LBTG cash position as of end-December 2010 was $26,000. So far there is no information for Liberty Coal Energy to have raised the needed cash for its announced drilling program.
