Company Updates From Management – Thu 10 Sep, 2020

Libero Copper and Gold – Introducing this copper and gold explorer with drilling ongoing in the Golden Triangle and upcoming in Columbia

Libero Copper and Gold (TSX.V:LBC – OTCQB:LBCMF) was brought up on this show a couple weeks ago by Brien Lundin as a stock to watch with drill programs underway. I took some time to get up to date on the story and decided to bring them on to share with all of you the Company’s exploration plans into 2021.

Ian Slater, CEO and Founder of Libero joins me for a rundown of the Bed Red Property in the Golden Triangle and update us on the 3,000 meter drill program that is underway. He outlines the targets being drilled on this campaign as well as a number of other targets to be tested at a later date. We also touch on the upcoming drilling on the Mocoa Property in Columbia with is drill ready with permits in place.

If you have any follow up questions or comments regarding Libero please email me at Fleck@kereport.com.

Click here to visit the Libeo website and read over the Company Presentation,


Comments:
  1. On September 10, 2020 at 5:30 pm,
    Gary Lutz says:

    Sir,wondering if your aware of Enduro Metals drill program in the golden triangle. Have you had any conversations with Enduro . Thankyou Gary Lutz

  2. On September 10, 2020 at 10:00 pm,
    Excelsior says:

    The single biggest loss I’ve had in over a decade of resource investing in over 140 mining companies was with Ian Slater’s last company (R) Red Eagle Mining in Colombia.

    It is one of the few companies I got trapped in and watched it crash all the way down to nothing. They got their mine built in record time, but many criticized their economic studies not spending enough time to fully understand the ground conditions, and when they got underground they had a true mess, had diluted shareholders down with more raises to try and relaunch using a paste & fill method, and ran out of time and money decimated all the shareholders involved.

    Ian seems like a nice guy, but an experience like that where they just folded up shop and just didn’t discuss it anymore (and it isn’t noted on his company bio on Libero’s webpage) leaves a bad taste in people’s mouth.

    Good luck in the new venture, but I’m still incredibly pissed and disappointed about what happened with Red Eagle and won’t even consider Libero as a result.

    https://ceo.ca/r

    • On September 11, 2020 at 5:26 am,
      Dick Tracy says:

      Point well made Ex, I have been there myself, that is one of life’s lessons one never forgets. DT

      • On September 11, 2020 at 12:52 pm,
        Excelsior says:

        Yes the investing battle scars one accumulates along the journey.

        “Once bitten, twice shy” as they say…

  3. On September 11, 2020 at 8:38 am,
    Cory댊 says:

    Thanks for your comment Ex. Sorry to hear about the loss you took in Red Eagle. I was not invested or following that story so I had no idea. I’ll ask Ian about it next time I chat with him to see what he has to say.

    Please keep all the comments coming. There are a lot of interesting stories right now it’s hard to keep up with all of them. But I’m doing my best 😉

    • On September 11, 2020 at 11:57 am,
      Excelsior says:

      Thanks Cory. You are doing a great job at showcasing many quality companies and I’m invested in a number of them myself. I realize you may not know the whole story and he didn’t bring it up when you asked about his experience.

      I like Ian as a person and he seems like a sharp guy. There were a few newsletters covering Red Eagle back in 2016 & 2017 until the challenges set in. Gwen Preston that first pointed them out, and they appeared at the Metals Investors Forum and a few other mining conferences for a few years. I always enjoyed watching Ian’s company overviews, and they did try and address the problems they had underground by not fully understanding the rock they would be working in and the new paste & fill mining strategy they eventually tried to deploy. They had to further dilute down existing shareholders to raise the capital to build the paste and fill plant, since they were using a mining method in the less stable rock and then mucky ground conditions that wasn’t working.

      However, it should be noted that Red Eagle is not on his bio over at Libero and even when you asked him about his background he conveniently didn’t mention Red Eagle Mining, which was the last company he ran for several years, but that is a bit disingenuous or at least trying to minimize the past.

      That team was making good progress and fast, but some have criticized maybe it was too fast and suggested that they should have done more in-depth economic studies on the underground mining geological conditions and they could have better anticipated that challenges in the integrity of the rocks sooner and had a more appropriate mine plan for it from the beginning. It was painful to keep holding on for the turnaround that never happened and watch the share price crash down to 1 penny due to the operating issues, lack of capital, lower metals prices and eventual implosion. I misjudged their aptness and ability to turn things around and take full responsibility for not exiting at the first sign of trouble, but a company implosion is just that and it leaves a bitter taste in the mouths of investors that backed them last time and lost everything.

      If someone asks about his background like you did, it would be more honest to state he ran Red Eagle Mining , and it should also be noted they bought (XR) Red Eagle Exploration in 2018 before the end of the road, and possibly shouldn’t have acquired them either with the cash-flow issues. (XR) Red Eagle Exploration wasn’t getting the proper valuation either, so they rolled it up into (R) Red Eagle Mining, but that effectively tanked 2 sets of investors from both companies. Those were the last 2 mining companies he was involved and that’s what happened.

      Ian just mentioned to you that he ran some miners in Colombia and focused on his accountant background, which is glossing over the 800 lb gorilla in the room.

      We hear over and over again about the importance of following winning management teams, and backing the right jockeys. Is someone that doesn’t reference his prior mining company of several years on his company website or in interviews when asked that kind of jockey? Just something to mull over.
      ___________________________________

      This BNN interview summed up the final gasp for life of Red Eagle quite well, and the guy was ultimately partially wrong. He was correct at the time not to put anymore money to work in (R) at the time of the recording, but he was wrong to advise not selling as the turnaround never came and they eventually defaulted.

      > Fabrice Taylor discusses Red Eagle Mining Corp

      BNN – Mon, Aug 21, 2017 1:37 PM #VIDEO

      Fabrice Taylor, publisher, the President’s Club Investment Letter discusses his outlook for shares of Red Eagle Mining Corp

      https://www.bnnbloomberg.ca/video/fabrice-taylor-discusses-red-eagle-mining-corp~1191810

      • On September 11, 2020 at 12:13 pm,
        Wolfster says:

        I first became aware of Libero when wealth research group was touting it which always makes me leary. They are a hype machine that promotes a stock for short term gain. Right now they are hyping callinex again and claiming a 200% gain on the play. Of course they touted it a couple of years ago and people who bought then and still hold it are still in the red. I prefer those who are longer term holders that recommend stocks and take a hit along with everyone else if things don’t pan out.

        • On September 11, 2020 at 1:10 pm,
          Excelsior says:

          Wolfster – great point about the short-duration promotional pumps not really being aligned with longer term shareholders, and it is usually the companies that are struggling more (like Callinex was) that need to enlist marketing blitz campaigns to bail out there falling shares, but there is a time and a place for marketing, because good results that nobody knows about doesn’t do companies or shareholders any good either. Many companies are terrible at promoting their story, and need help, but and all companies need to market and advertise and present and connect with the market. Like you mentioned, there are just a range of promotion companies from professionals all the way down the spectrum to slimy bottom-dwellers, and everything in between.

          I sold out of my Callinex on the recent surge for basically a wash, because I was glad to be free of it at the moment. I wish their team well in exploring and hitting it big, but there are no shortage of interesting stories to invest in that have identified very solid resources in the ground that I moved some of that capital over to. I’ve got too many funds tied up in speculative drill plays at present, and am working on reducing that amount as news comes out and as a thesis plays out or doesn’t, and moving those funds back over to developers, producers, and royalty companies that can more easily get rerated for their ounces in the ground or production metrics with the rising metals prices.

          Cheers!