Daily Archives: May 16, 2012

By Leonard Sparks

Published: 2:00 AM - 05/16/12

LIBERTY A study identifying three sites in Liberty as potentially suitable for a community-owned wind-energy project is spurring talk of new zoning rules.

Supervisor Charlie Barbuti recommended the town consider guidelines to cover wind energy at Liberty's May 7

Town Board meeting.

The board met one day after the Sullivan Alliance for Sustainable Development held a public forum to review four sites identified in an ongoing study of suitable places for a wind farm.

"I came away from the (community) meeting thinking it's something that would be important," Barbuti said. "We don't address geothermal; we don't address solar; we don't address the new technologies."

Sullivan Alliance invited residents to the Liberty Senior Center on May 6 to unveil one site on Thunder Hill Road in Grahamsville and three Liberty sites that might be viable for a wind farm.

The areas in Liberty include Walnut Mountain Park, a ridge just north of Old Loomis Road, and another ridge east of Route 17 near Tanzman Road.

The ongoing study is being funded by a U.S. Department of Agriculture grant. Part of the funding is being used to identify shovel-ready sites that might be ideal for a small wind farm. A 5.4-megawatt farm could generate $1.4 million in revenues, according to SASD's presentation. The study envisions such a system owned by local groups or by municipalities.

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Liberty mulls zoning to build wind farms

IRVINE, Calif.--(BUSINESS WIRE)--

LIBERTY Dental Plan (LIBERTY) is releasing their new mobile app with predictive Automatic Call Distribution (ACD). LIBERTY members across the United States can now access LIBERTYs most popular online dental features via smart phones.

Using this free, easy-to-use mobile app, members can access their account information, view dental benefits and co-pays, find a dentist, get answers to Frequently Asked Questions, and contact LIBERTY Member Services without waiting in a call queue.

Drumbi, a leader in enterprise communications, uses predictive ACD technology embedded into the app to enhance communications between the member and LIBERTY customer services. Callers can directly access a LIBERTY Member Services Representative, and be personally greeted by a friendly, live voice who is automatically prompted with the members basic information at the time of the call.

Were excited to be a leader in the dental insurance industry offering a mobile app that will dramatically enhance member service communications, said Dr. Amir Neshat, LIBERTY's Founder, President and CEO. I am particularly excited that LIBERTY can offer innovative solutions to our clients, bringing us ever closer to meeting and exceeding standards in efficiency and quality.

We are privileged to have been selected by LIBERTY Dental Plan as a core component of their operational transformation, Shervin Talieh, CEO of Drumbi, said. LIBERTY's mission is to provide a superior member and provider experience while creating tremendous operational efficiency as they continue their rapid growth. The benefit of self-service technology is tied to consumers knowing they have control of their options. Drumbi and LIBERTY are continuing their efforts together to design another integrated app specifically for dental providers.

LIBERTY Dental Mobile is available now free of charge in the iPhone App Store and in Google Play for Android. For more information, visit http://www.libertydentalplan.com/mobile.

About LIBERTY Dental Plan

LIBERTY Dental Plan specializes in commercial and government sponsored dental programs, providing services to managed care organizations, state governments, labor unions, large group employers, municipalities, and individuals. With a vast majority of its membership enrolled in government sponsored programs, LIBERTY is recognized as a specialist in administering dental care for Medicaid, SCHIP and Medicare beneficiaries. LIBERTY has a proven record of successfully increasing the utilization of quality dental care for multiple programs, ensuring that a larger portion of premiums are appropriated directly to care.

LIBERTY Dental Plan is also recognized as an industry leader in the area of Dental Disease Management. A member of The Care Continuum Alliance (carecontinuum.org), LIBERTY shares their commitment to promote high quality standards for and definitions of key components of wellness, disease, case management where appropriate, and care coordination programs as well as support services and materials.

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LIBERTY Dental Plan Introduces Mobile App

TSX: LBE

TORONTO , May 14, 2012 /CNW/ - Liberty Mines Inc. ("Liberty" or the "Company") today announced results from a deep drill program on its Hart Nickel Deposit that suggests increased mineralization at depth. The drilling program is consistent with the Company's strategy to add to its current resource base, and support production activities at its 2,000 ton per day Redstone Mill.

"These drill results demonstrate the potential for adding significant tonnage to the Hart resource and support our belief that there are deeper deposits within the Shaw Dome region," commented Chris Stewart , President & CEO of Liberty Mines. "We are very encouraged by the mineralization in the drill holes along with the results of the down the hole geophysics we carried out on the three deep drill holes. The current indicated resource of 1.55 million tonnes at the Hart deposit ends at a depth of about 550m below surface. These new deep drill hole intersections suggest we could add significant tonnes to the overall Hart resources at depth."

An intercept of 0.96% Ni over a drilled width of 0.9 meters from 795.6 to 796.5 meters in drill hole H-12-31A occurred at a vertical depth of 780 meters below surface. In addition, an intercept of 0.6% Ni over a drilled width of 3.5 meters occurred from 786.8 to 790.3 meters. The Hart Deposit has an indicated resource of 1,546,000 tonnes grading 1.4% Nickel from surface to approximately 550 meters below surface. In late 2011, Liberty Mines drilled a deep hole targeting the vertical projection of a VTEM airborne conductor. Drill hole H-11-23 intersected 1.24% Ni over a drilled width of 3.6 meters approximately 550 meters vertically below surface ( Dec 14, 2011 press release). The recent intercept in drill hole H-12-31A occurs approximately 270 meters down dip of drill hole H-11-23.

Recently, a borehole geophysical survey was performed on both of these drill holes by Crone Geophysics and Exploration Ltd. The responses from the surveys suggest a significant conductor lies west of drill hole H-11-23 at an approximate depth of 580 meters and a conductive response also lies immediately east and below drill hole H-12-31A at an approximate vertical depth of 800 meters. Liberty Mines plans to drill test these conductive responses to build upon the recent deep drill hole intercepts.

On the Hart East project, a recent deep drill hole, H-11-30 intersected 1.02% Ni over a drilled width of 1.7 meters at approximately 650 meters vertically below surface ( March 26, 2012 press release). A borehole survey performed on this drill hole indicates a substantial off hole response to the east and above the deep intercept which could represent significant accumulations of nickel sulphides. Liberty is also planning to drill test this significant conductor to continue building upon a resource for the Hart East.

To see an image of the Hart & Hart East projects, click the following link: http://files.newswire.ca/1063/Hart_and_Hart_East.pdf

Currently, drilling is focused on a combined airborne VTEM and geochemical soil anomaly equidistant between the Hart and McWatters deposits. Results from the deep drilling on the Hart and Hart East programs are shown in the table below. These drill holes have been bore hole surveyed. The core lengths presented in the table are the intersected lengths, and the composite lengths are core weighted. True widths are unknown. Drill holes H-11-23 and H-11-30 previously reported.

Liberty's drill projects are being supervised by the Company's Vice President of Exploration, Peter Caldbick BSc, P.Geo., a qualified person as defined by National Instrument 43-101. The technical contents of the press release have been reviewed and approved by Peter Caldbick. A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory, AGAT Laboratories Mississauga, Ontario, and the other half retained for future reference. Core samples are routinely analyzed for nickel and copper using sodium peroxide fusion and ICP finish. Any analyses greater than 5,000 ppm are re-analyzed using total acid digestion

About Liberty Mines Inc.

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Liberty Mines Continues to Expand Nickel Mineralization at its Hart Deposit

TSX: LBE

TORONTO , May 14, 2012 /CNW/ - Liberty Mines Inc. (LBE.TO) ("Liberty" or the "Company") today reported its financial results for the 3-month period ended March 31, 2012 . All amounts are in Canadian currency.

"Our first quarter was marked by our most significant milestone since we began our turn-around strategy nine months ago," said Mr. Chris Stewart , President and CEO of Liberty Mines. "With the re-start of mining and milling operations now behind us, we can focus our efforts on maximizing production of our nickel concentrate, and continuing to add to our resources and reserves through a strategic exploration program. These efforts will not only generate improved financial results in the near term through increased revenue and cash flow, they will also effectively position us for future long-term growth."

Q1 2012 Operational Highlights

Highlights Subsequent to Quarter End

Selected financial highlights

Review of Q1 Financial Performance Revenue for Q1 2012 was $19,240 down from $2.1 million for Q1 2001. The year-over-year decline was due to a shut-down of mining and milling operations initiated by the Company in February, 2011. Mining and milling operations were effectively re-started on March 31 , 2012. Given the timing of the start date, the company expects revenue and cash flow from operations to resume in Q2 2012. Revenue generated in Q1 2012 stemmed from the final settlement on precious metals shipped in 2011.

Net loss for Q1 2012 was $8.0 million or $0.04 per basic and fully diluted share. The loss included amortization expenses of $1.4 million , interest on long-term debt of $2.2 million and dividends on preferred shares of $0.3 million . In the same period of 2011, Liberty recorded a net loss of $5.1 million or $0.03 per basic and fully diluted share. Liberty's mining and milling operations were partially functional in Q1 of 2011.

At March 31, 2012 , Liberty had cash and cash equivalents of $546,600 . This compares to $1.3 million at year end 2011.

Liberty's financial statements for the period ended March 31, 2012 are available at http://www.libertymines.com and http://www.sedar.com. The financial statements should be read in conjunction with the accompanying notes and management's discussion and analysis.

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Liberty Mines Reports Financial Results for First Quarter 2012

Liberty Global Inc. (LBTYA) declared mixed financial results for the first quarter of 2012. In the previous quarter, the company added a net 445,000 organic revenue generating units (RGU), up 71% year over year.

Quarterly GAAP net loss from continuing operation was $25.2 million or a loss of 9 cents per share compared with a net income of $342.4 million or $1.22 per share in the prior-year quarter. However, first-quarter 2012 adjusted (excluding special items) earnings per share of 17 cents fell below the Zacks Consensus Estimate of 20 cents.

Quarterly total revenue of $2,537 million was an improvement of 12.4% year over year, beating the Zacks Consensus Estimate of $2,492 million. Year-over-year growth of the top line was primarily attributable to the consolidation of German operations.

Quarterly cost of operation was $897.7 million, up 10.6% year over year. Selling, General and Administrative expenses were $471.4 million, up 12.8% year over year. In the first quarter of 2012, operating income was $494.3 million, up 14.2% year over year.

During the first quarter of 2012, Liberty Global generated $805.8 million of cash from operations compared with $734.9 million in the year-ago quarter. Free cash flow (cash flow from operations less capital expenditures) in the reported quarter was $284.5 million compared with $245.3 million in the prior-year quarter.

At the end of the first quarter of 2012, Liberty Global had $2,703.1 million of cash & marketable securities and $24,966.3 million of outstanding debt on its balance sheet compared with $2,626.4 million of cash & marketable securities and $24,757.9 million of outstanding debt on its balance sheet at the end of 2011. At the end of the first quarter of 2012, debt-to-capitalization ratio was 0.90 compared with 0.87 at the end of 2011.

Subscriber Statistics

As on March 31, 2012, Liberty Global had 19.5869 million customers in 14 countries. UPC Broadband customer was 16.1746 million. Telnet customer was 2.1801 million. VTR customer was 1.1089 million. Puerto Rico customer was 122,700. Total Single-Play customer was 11.2316 million, up 9.4% year over year. Total Double-Play customer was 2.9207 million, up 9.8% year over year. Total Triple-Play customer was 5.4346 million, up 39.6% year over year.

During the reported quarter, Liberty Global added 445,000 net RGUs including net gains of 254,000 and 277,000 subscribers, respectively, for broadband Internet and telephony services and a net loss of 86,000 subscribers for video services. In the first quarter, the company added 279,000 digital video subscribers. At the end of the first quarter of 2012, Liberty Global had 8.4 million digital cable subscribers with a penetration rate of 47%. Importantly, 52% of total digital cable subscribers are now using HD/DVR services.

Segment wise Results

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Liberty Global Reports Mixed 1Q

TUCSON, Ariz.--(BUSINESS WIRE)--

Liberty Star Uranium & Metals Corp. (Liberty Star or the Company) (LBSR: OTCBB) is pleased to provide an update of exploration activity on its Hay Mountain claims. 608 soil samples collected over approximately 22 square miles (NR 114) were sent to the ALS Minerals (ALS-Chemex) certified geochemical analysis lab in Vancouver, British Columbia, where they were tested for the presence of 64 different elements.

ALS has returned all of the geochemical soil samples results for all elements requested, to Liberty Stars Tucson office. The assays have been entered into an ARC GIS (Geographic Information System) database from which contour maps are being produced. Additionally, enhanced satellite imagery (digital space photos) is being analyzed for geology and alteration, and the various geochemical contours are superimposed on this imagery. This work has produced a variety of interesting and surprising (unexpected) results that require further in-depth analysis. Chief Geologist and Company CEO James A. Briscoe and his team have made the following preliminary observations:

The vegetation sample assays are coming in, and these results will be plotted just like the soil and rock chip samples have been. Our interpretation of them will be compared to the other two sample types. Updates will be reported as progress is made.

James A. Briscoe

Forward-Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include: that we will undertake a ZTEM survey in spring or summer; that we will re-assay results for rare earth metals; and vegetation samples will be plotted.

Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our exploration program to identify targets; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; and an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Companys recent 10-K and the Companys other periodic reports filed from time to time with the Securities and Exchange Commission.

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Liberty Star Provides Geochem Update: Soil Samples Hay Mountain, Arizona

LAS VEGAS--(BUSINESS WIRE)--

Western Liberty Bancorp, Inc. (NASDAQ:WLBC - News), the holding company for Service1st Bank of Nevada (Service1st Bank) and Las Vegas Sunset Properties (LVSP), today reported its tangible book value per share was $5.53, down slightly from $5.60 in the preceding quarter. Western Liberty narrowed its first quarter loss to $1.1 million, or $0.08 per share, in the first quarter of 2012, compared to $2.4 million, or $0.17 per share, in the fourth quarter of 2011. Net loss for the year ago quarter was $409,000, or $0.03 per share. All financial results are unaudited.

Our loan portfolio is beginning to stabilize. No new properties moved into classified status during the quarter, and we are receiving solid interest from investors in some of our foreclosed properties, said William Martin, Chief Executive Officer. During December, we moved $4 million of foreclosed real estate into our new holding company asset resolution subsidiary, Las Vegas Sunset Properties (LVSP). Then during the first quarter of 2012, we moved an additional $18 million in classified loans to LVSP. These transfers improved the Banks ratio of classified assets to Tier 1 capital plus reserves to 29% at March 31, 2012, down from 84% at year end. While on a consolidated basis our nonperforming assets are still higher than we would like, at the Bank level we are much closer to achieving asset quality levels mandated by our regulators.

Our capital levels at both Service1st Bank and Western Liberty Bancorp remain very strong. For Service1st Bank and Western Liberty Bancorp, we ended the quarter with a Tier 1 Risk based-capital of 35.61% and 71.28%, respectively, Martin continued. And, as an improving economy emerges in Las Vegas, we expect to be able to deploy capital and liquidity into loans as demand improves.

While we earned a profit at the bank level of $62,000, expenses at the holding company generated a loss of $1.1 million in the first quarter of 2012, reflecting ongoing elevated expenses for legal and professional fees, and a $117,000 impairment charge for other real estate owned at LVSP, said Martin. We will continue to monitor asset quality and maintain our reserves at the appropriate level, as well as work diligently to keep expenses down.

Financial Highlights (at or for the quarter ended March 31, 2012)

Nevada Economic Update

Although new reports confirm that Las Vegas continues to lag in the economic recovery, Marcus & Millichap, a national commercial real estate brokerage and advisory firm, projected the addition of 12,000 jobs locally this year and that office-using job growth will push start a recovery in the Las Vegas office market this year.

Further signs of recovery were reported by the Nevada State Department of Taxation with its April 26 report on February tax revenues. Statewide taxable sales for February 2012 of $3.2 million represent a 10.2% increase over February 2011 and a 7.5% increase for the fiscal year. The largest increases in statewide taxable sales were realized by Food Services and Drinking Places, up 11.9%; Motor Vehicle and Parts Dealers, up 22.9%; General Merchandise Stores, up 16.9%; Merchant Wholesalers, Durable Goods, up 18.0%; and Clothing and Clothing Accessories Stores, up 11.3%.

According to the April 5, 2012, report from the University of Nevada Las Vegas Center for Business and Economic Research, CBERs Southern Nevada Index of Coincident Economic Indicators showed significant gains for March 2012, rising by more than 2% from the previous month. The index is constructed with two measures of employment. One is collected from a survey of businesses and one collected from a survey of households (the latter as part of the U.S. Bureau of Labor Statistics Local Area Unemployment Statistics). Although both measures included in the index rose, the data from the household survey were the primary driver of the gain, increasing by over 3% from February 2012. CBERs Southern Nevada Index of Leading Indicators also rose by 0.36% in March, continuing on its trend of a slow recovery. The local, regional, and national components all contributed to this growth and allow us to forecast continued economic growth until late summer. CBERs other three indexes of current economic activity were mixed:

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Western Liberty Bancorp Reports First Quarter 2012 Financial Results