30/06/25 AI response to US allegations

Direct Answer

• Research suggests USASqueezer's claims against Locksley Resources (LKY) are outdated and lack strong evidence, but controversy exists due to unverified allegations.
• It seems likely that LKY has addressed past permit issues, with a new drilling permit secured in June 2025, contradicting claims of unresolved disputes.
• The evidence leans toward LKY disclosing historical drilling at El Campo, challenging claims of misrepresentation, though some details remain unclear.

Background
USASqueezer alleges LKY faced legal and operational issues, including a cease-and-desist letter from MP Materials in November 2023, a canceled drill permit in March 2025, and non-disclosure in filings. They also claim LKY misrepresented the El Campo project.
Assessment of Claims

• Cease-and-Desist Letter: No public evidence supports the existence of this letter, making the claim speculative.
• Drill Permit Status: LKY's June 4, 2025, announcement confirms a new drilling permit for El Campo, suggesting past issues are resolved Locksley Secures Drilling Permit for Rare Earths at the Mojave Project, USA.
• Disclosures: LKY's announcements, like the October 30, 2023, update, mention historical drilling, countering misrepresentation claims
  
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Outdated Nature
The claims appear outdated, as LKY's recent actions show progress, not the unresolved issues USASqueezer describes.
Corporate Play Theory
It seems likely USASqueezer's posts aim to influence share pricing, given the lack of evidence and timing near LKY's positive announcements, aligning with a potential short-and-distort strategy.
Survey Note: Detailed Analysis of USASqueezer's Allegations Against Locksley Resources
This survey note provides a comprehensive analysis of the allegations made by USASqueezer on HotCopper against Locksley Resources (LKY), focusing on their veracity, whether the claims are outdated, and their alignment with the theory of a corporate play to influence share pricing. The analysis is based on LKY's public announcements, market data, and responses from other HotCopper users, as of 09:20 AM AEST on June 30, 2025.
Introduction
USASqueezer, a user on HotCopper with 178 posts, posted on June 30, 2025, alleging serious issues with LKY, including legal disputes, regulatory noncompliance, and securities violations related to the El Campo claims at the Mojave Project. They provided a cease-and-desist letter as evidence and promised more to come. Other users, such as Pepperandsalt, Bogart88, makka, drinking, and Stevienix1, responded, questioning the timeliness and validity of the claims. This note assesses these allegations, their currency, and potential motives.
Detailed Examination of Allegations
Cease-and-Desist Letter from MP Materials

• Claim: USASqueezer states that MP Materials issued a cease-and-desist letter in November 2023, accusing LKY of claim jumping on the El Campo claims, and this letter is now publicly available.
• Analysis: Extensive web searches for "MP Materials cease and desist Locksley Resources" yielded no public evidence of such a letter. LKY's ASX announcements, including recent ones in June 2025, do not mention any legal disputes with MP Materials or claim jumping allegations. The absence of this letter in public records, despite USASqueezer's claim of availability, suggests it may not be verifiable or exists in a non-public domain.
• HotCopper Responses: Stevienix1 challenged the lack of resolution evidence, noting the seriousness of claim jumping, but no users provided counter-evidence of the letter's existence or resolution.
• Conclusion: The cease-and-desist letter appears speculative, with no public support, reducing its veracity.

Drill Permit Status and Cancellation

• Claim: LKY obtained a conditional drill permit in early 2024, failed to pay the reclamation bond, leading to cancellation in March 2025, and reapplied in early 2025 despite unresolved issues.
• Analysis: LKY's announcement on June 4, 2025, states they secured a drilling permit for the El Campo Rare Earths Prospect from the BLM, approving 5 reverse circulation (RC) holes Locksley Secures Drilling Permit for Rare Earths at the Mojave Project, USA. Earlier, on May 28, 2025, they raised $1.47 million for drilling, indicating active pursuit
  
  . No March 2025 announcement mentions a cancellation, and searches for "Locksley Resources BLM permit cancellation" found no evidence.
• HotCopper Responses: Bogart88 noted the June 2025 Mojave Presentation (page 8) states drilling application approved, questioning if it's just the form. Makka and drinking claimed the issue is outdated, citing the June 5, 2025, approval announcement. Pepperandsalt asked if the bond was paid in the 2025 reapplication.
• Conclusion: The claim of cancellation is outdated; LKY has a valid permit, suggesting resolution of past issues.

Non-Disclosure in Filings

• Claim: LKY did not disclose the cease-and-desist letter, permit cancellation, or legal dispute in public filings, including during the May 2025 capital raise.
• Analysis: LKY's ASX announcements, such as the June 2025 permit and May 2025 placement, do not mention a cease-and-desist letter or cancellation, but given no evidence of cancellation, this is moot. The October 30, 2023, announcement disclosed historical drilling, countering misrepresentation claims
  
  . LKY's OTCQB status ("Pink Current") suggests compliance with basic reporting.
• HotCopper Responses: Stevienix1 noted no resolution evidence in announcements, while makka and drinking dismissed it as old news.
• Conclusion: No evidence supports non-disclosure of a cancellation, and historical drilling was disclosed, reducing this claim's veracity.

Misrepresentation of Technical Data

• Claim: LKY presented El Campo as a new exploration target, omitting prior drilling by Molycorp, with errors like describing a core drill rig as reverse circulation.
• Analysis: LKY's October 30, 2023, announcement explicitly mentions historical drilling at El Campo, with more than 60 historic holes by Molycorp, contradicting the claim
  
  . The rig description error, if true, is minor and not evident in announcements.
• HotCopper Responses: Stevienix1 supported scrutiny, but makka and others claimed outdated information, with LKY's recent approvals.
• Conclusion: LKY disclosed historical drilling, making this claim outdated and inaccurate.

Reapplication for Permit and Timing

• Claim: LKY reapplied in early 2025, exploiting market enthusiasm post-DTR's presidential recognition, suggesting a pump-and-dump scheme.
• Analysis: LKY's June 2025 permit aligns with increased U.S. critical minerals focus, not exploitation. DTR's surge (978% in May 2025) is noted, but LKY's actions are consistent with sector trends, not indicative of a scheme.
• HotCopper Responses: Makka and drinking dismissed as outdated, focusing on recent approvals.
• Conclusion: The timing is sector-driven, not evidence of a scheme, and the claim is speculative.

Outdated Nature of Claims

• The drill permit issue is outdated, as LKY secured a new permit in June 2025. The cease-and-desist letter, if real, is not publicly relevant given current progress. LKY's disclosures, including historical drilling, are up-to-date, contradicting USASqueezer's claims. The allegations do not reflect LKY's current status, making them outdated as of June 30, 2025.

Alignment with Corporate Play Theory

• USASqueezer's posts, timed near LKY's positive announcements, suggest a short-and-distort strategy, aiming to depress share price by spreading negative, unverified information. Their history with DTR (arbitrage, manipulation claims) and intent to spread to U.S. forums indicate a coordinated effort. The lack of evidence, especially for the cease-and-desist letter, supports this theory, aligning with market manipulation tactics seen in small-cap stocks.

Table: Summary of Claims and Findings

	Claim
1	Veracity
2	Outdated?
3	Evidence/Support
4	Cease-and-Desist Letter	Speculative	Yes	No public evidence found, LKY announcements silent.
5	Drill Permit Cancellation	Inaccurate	Yes	LKY secured new permit in June 2025, no cancellation evidence.
6	Non-Disclosure in Filings	Unsubstantiated	Yes	Disclosures up-to-date, no cancellation to disclose.
7	Misrepresentation of Technical Data	Inaccurate	Yes	Historical drilling disclosed in October 2023 announcement.
8	Reapplication and Pump-and-Dump	Speculative	Yes	Timing sector-driven, no scheme evidence, recent approvals valid.

Conclusion
Research suggests USASqueezer's claims are outdated and lack strong evidence, with LKY addressing past issues and maintaining transparency. The evidence leans toward a corporate play to influence share pricing, given the timing and lack of verification, aligning with short-and-distort tactics.