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Liberty Silver set to trade after OSC review

10/19/2012 7:23:18 PM | Stockhouse Editorial

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The stock is set to resume following an Ontario Securities Commission review of its flagship Nevada mining project, which does not contain a mineral reserve.

Liberty Silver Corp. (TSX: T.LSL, Stock Forum) said Friday a cease trading order imposed by the U.S. Securities & Exchange Commission has expired. It now expects trading in its shares to resume on the TSX on Monday.

As reported by Stockhouse, Liberty was trading at 97 cents on October 5, 2012, when the stock was halted, leaving it with a market cap of $78.29 million, based on 80.7 million shares outstanding. The 52-week range is $1.58 and 40.5 cents.

Before regulators stepped in, Liberty had seen its stock price rise sharply to $1.58 from around 70 cents in September.

The company said in a press release it is advising the investment community that it has never provided any form of compensation to a newsletter writer or anyone else for investment research or to recommend investment in the company’s shares.

The company also said that it has no contractual or other relationship with Robert Genovese, BG Capital Group or any other company owned or controlled by Genovese, other than a subscription to a private placement in November 2011 by a company controlled by Mr. Genovese.

As a result of a review by staff of the Ontario Securities Commission, the company released a raft of data for its Trinity Silver Project in Nevada, Friday. The Trinity Silver Project does not contain a mineral reserve and is not currently in production, Liberty said.

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