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SEC halts Liberty Silver

2012-10-05 19:11 ET - Street Wire

Also Street Wire (C-*SEC) U.S. Securities and Exchange Commission
Also Street Wire (U-LBSV) Liberty Silver Corp
Also Street Wire (C-LSL) Liberty Silver Corp

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by Mike Caswell

The U.S. Securities and Exchange Commission has halted Liberty Silver Corp., a company listed on both the OTC Bulletin Board and Toronto Stock Exchange that has roughly doubled in value over the past month. The SEC cites a lack of current and accurate information about the control of the company, its price and its trading. Although the SEC halt only applies to the OTC-BB, the TSX issued a halt of its own 30 minutes after the SEC notice, in which it said it trading would cease "pending company contact."

The SEC action comes after a four-week run in which Toronto-based Liberty Silver climbed to $1.58, up from 79 cents. The rise gave the company a market capitalization of $127.5-million, which is substantially higher than the $1.9-million in assets it recently reported in its June 30, 2012, balance sheet.

Although Liberty Silver has provided little news that would explain its rise, at least one stock tout recently said the company was worth even more than its present price. James West, who writes for an on-line tout sheet called the Midas Letter, calculated in a Sept. 27 report that the company's flagship Trinity project in Nevada is worth about $750-million (U.S.). He said that Trinity has 50 million ounces of silver which, when calculated on a per-share basis, work out to a value of $9.38. "Chop that in half for the sake of conservativeness, and you still get a price of $4.68 per common share outstanding," he figured. (He qualified the calculation by saying it was simplistic "non-43 101 compliant math.")

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This is going to make people think before they spend a million an mailer...Way to go SEC...Its about time

Posted by stockman at 2012-10-06 23:43

Little Jimmy West strikes again.

Posted by Da Crusader at 2012-10-08 16:37

I was kicking back at this venue aptly named Salty’s early one balmy evening while savoring the sunset on vacation last mid August. I had just received a most interesting text from an old associate asking about a stock promoter whom I believed to residing in the most wonderful of exotic places. Locales that I certainly will never know. It was a name I had not heard in years. It caught my full attention. I texted back “proceed with caution, I know there has been past magic but do not trust.” A month later I got another text, “the guy is a dick” he said. I responded back that I had warned him…he could be full of magic but he doesn’t pay his debts. Nothing here appears to have changed. Aside from that, his work is too ethereal for my taste. The magic ends and poof! End of story. The name of the deal in the text was Liberty Silver. The devil is in the details I recently found listed on a site called stock promoter . com. If you put in the Pink Sheet symbol LBSV you can appreciate how something like this could work. The beauty is how many of these compensations promised by a third party are even actually paid? Illusion or real, that still remains to be seen. However I never cease to be amazed, especially in today’s regulatory environment, what third parties living in exotic places can still manage to pull out of thin air.

Posted by Book Critic at 2012-10-09 16:13

awesome penny has pulled 1 billion dollars out of this market in traded securities, now that's awesome...

Posted by awesome at 2012-10-10 04:54

There's your James West- guess that shows his integrity levels??

Posted by Newsletter watch at 2012-10-10 08:34

For a five star and fascinating read on Liberty Silver google: The IKN Weekly, issue 179

Posted by Book Critic at 2012-10-10 14:26

Here's another take on the SEC's halt of Liberty Silver by the highly respected libertarian website The Daily Bell: http://www.thedailybell.com/28143/Anthony-Wile-Too-Often-Regulators-Play-the-Role-of-Police-Judge-and-Executioner-Witness-Liberty-Silver-Corp

Posted by John Galt at 2012-10-11 12:26

This is that guy that thinks he is Donald Trump,,Bobby Genevese or better known as Bobby G from his reality show... He is just an old guy trying to be cool

Posted by stockman at 2012-10-12 06:36

Bobby Genovese! He and his smarter brother Ricky ruled in their day. They used to call Ricky "The King of Monaco".

Posted by Phat Dean at 2012-10-12 12:31

the markets are bad enough and we have the BCSC halting everything that moves...I think we should shut the whole thing down and call it a day,,,TSX deals go nowhere even when they get have good news.I think this market in Canada is done for a while and i would hate to own a brokerage house right now...

Posted by sick of it at 2012-10-13 22:04


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