"At the request of the Investment Industry Regulatory Organization of Canada on behalf of the Toronto Stock Exchange, Liberty Mines Inc. ("Liberty or the Company") confirms that a definitive agreement for a financing is nearing completion. The financing is structured to resolve the debt referenced in the February 26, 2009 press release; to pay current payables and; to provide some working capital. Upon successful completion of the definitive agreement, a press release will be issued specifying the details of the financing."

IMHO this is basically a re-iteration of the March 31 release's paragraph wrt the financing. Weird thing is that I didn't think the moves have been the type or eye popping magnitude where the IIRO of C jumps in and wants explanations. Do you guys? In any event it's great publicity.

What's even weirder is that in the March 31st PR, there has been a warning that a cease trade might occur and yet that's not been the issue at all. I guess the biggy is to be able to pay for that missing audit and get the company out of the bite wrt the possiblity of being in non-compliance any further with the filings.

Here's the only other hurdle:

"The financial statements should have been filed on or before March 31, 2009 pursuant to relevant securities laws. Cash flow difficulties have prevented the Company from having its auditors complete the preparation of the audited financial statements. It is anticipated that the financial statements will be filed by no later than May 12, 2009. The Alberta Securities Commission may impose a cease trade order on the trading of the securities of the Company for a period of time specified in the order, which has not yet been received by the Company."

All in all it sounds like the worst is behind the company, that's great and at what price does the market put the stock? Is it the valuations that were back where it was before the storm hit?

As any person who may be looking at it wrt present valuation, as asked by wanderer yesterday, when and where is the stock valued accordingly? Looking at it purely on the Technicals, it's getting a bit lofty.

IMHO the loose lips factor which lends initial punch and thus drives the markets to buy on rumour and sell on news has to be taken into account. At some point it will no longer be a secret to the outside world that LBE is viable and has a future in mining. Will the general market carry the momo? As of today's PR this will now be the second release that hints at some closure and with that less risk and that basically all that is left is a "defintive" agreement for the next release.

You have all heard me say that with TA the SP and Volumes will always move preceding news be it good or bad. MoMo can play into that later as the trend becomes established.

Where to next? Any idea what the current payable may be??

Cheers