The action is that stock is weird. They announced a couple financings that were non-dilutive (a few warrants were issued at much higher prices but thats it). The interest in the loan was loan-shark like but they chose not to issue new stock since they could pay back the loan within 1 year (from the proceeds of the Nickel mine). Anyway, the stock has been hammered on a mine delay and whatnot but all appears on track now. In november, the will actually operate 2 mines, with a third one scheduled for 2010. They will be cash flow positive once McWatters opens in November. Their Groves prospect looks like its loaded with PGM's. Stock was $4.80/share when nickel was at $25 lb but because they are strictly a nickel producer right now, the spot decline has hurt them more than a diversified base metals producer. I think the stock will be $2+ in 12-18 months.
3 years ago, Liberty mines had nothing but $820 in the bank.
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Mr. Jean LaFleur explains Eloro's entry into the oil & gas industry in Quebec
