Progress towards JV continues! NPSP news also very welcome.

What an extraordinary update. The information and activity is so dense and the scope so broad- it is no wonder they are up at 11pm working. This is a very extensive and sophisticated project- advanced in both conception and execution. It is really amazing that our "little" .0125 LBSR has accomplished all this. And as sophisticated and technologically advanced as it is- when you get down to pounding in wooden stakes- you can just envision them lined up in the ground- like a construction project ready to go- you know we are there. The all important funding efforts are equally ambitious, advanced and active. The mention of other projects, including NPSP is also very encouraging. We are at the threshold.

Warned about what? Please remind me again.

This seems to be a pretty remarkable statement. As VP rightly points out- it's about as far as one can go without putting out an NR. And exactly what "pending offers" means isn't completely clear. But where there is smoke there is fire. First- from long contact with JB, I am confident that 1papermaker is correct when he says "JB is not lying". Second- the term "interest" and "interested parties" has been used in the past. Unfortunately- as we have all witnessed- "interested parties" do not necessarily become partners. That term might have been used here. But instead- "pending offers" was used to describe the current situation. I believe this choice of words is significant and very promising. Clearly this is something else- and indicates that this is more than just "interested parties". Obviously a deal has not been concluded as yet. If it were- it would, of course, be a very material event and be proudly announced in an NR. So I believe this is about as close as we can get without an NR and is an indication that we really are moving closer to a deal. At least, that is my belief.

I'm glad to see you got off the toilet long enough to make a serious comment. However, you seem to forget that anyone entering into an agreement with LBSR, would be doing so only after acknowledging, unlike yourself- and wanting access to- the many billions of dollars of value in the ground at Hay Mountain. This, obviously, is what LBSR brings to the table. Of course, there will will be sharing of profits in return for exploration funds. But in return for granting that access to HM's value, LBSR's position will be anything but insignificant.

The quick answer as to what the $65 million deal will look is- that we don't know. In fact, it's final structure is undoubtedly yet to be determined- most hopefully by negotiations that might already be in progress. It will involve a complete exploration program, possibly the mentoring program that has been mentioned, and probably the right to either participate in production development and a share of profits- or a share of any sale proceeds to yet another producing entity. From NR 185-

5. Budgets and plans call for Phase 1 drilling at a budget of $6.5 million, followed on success of Phase 1 by a Phase 2 drilling program – $59 million of three years duration (24/7/365) to define an economic mineral zone.

The structure of such a partnership obviously would be very complex. But whomever would be providing that $65 million would certainly expect to have a substantial share of any future returns.

To be discussing this is probably jumping way ahead. The first step is to secure such a partner. But the fact that we are already discussing this advanced stage is a good sign. Hopefully it is reflected by what is actually happening behind the scenes.

Hi- and thanks for the reply. Like everyone else, I am frustrated by the lack of a deal. It's just that there is nothing precluding a deal and I believe we have what it takes to conclude a deal- namely a huge deposit in a politically stable (if not always friendly) and climatically unimpeded (unlike AK) and geographically accessible region. It has been depicted and defined in spectacular fashion by many intersecting and reinforcing modalities- most especially ZTEM. But despite all this- it is still taking time and apparently many efforts to convince an appropriate entity to partner with us. I believe there is every reason to be optimistic- but the time line won't necessarily meet our wishes. Which is as it has to be- since it is totally disconnected from us. The efforts to secure a deal will continue. I personally don't think permitting issues will be what will hold us up. When a deal is struck- I am quite confident the drills will begin turning.

What is the basis for your statement that the permitting process is not going forward? As far as I know- it is. A PR is not going to issued with every form that is filed. That is not what is holding things up. What is holding things up is the absence of a funding deal. And that is a legitimate issue. One that I hope and expect will be resolved in the near future.

It is possible- the POU has been rising recently. But I really don't know. The point is- we really don't know much of anything- except what we know we have in the ground in and around HM. The fact that another trip is planned does not preclude the possibility that negotiations are in progress or even that deals are pending. These trips need to be scheduled long in advance. And until someone signs on the dotted line, it would actually be irresponsible not to keep scheduling them. No one would be upset if, upon signing a deal- maybe even moved along by the prospect of presentations to other interested parties- that this new trip would be cancelled. It is certainly very possible.

I don't believe anyone thinks this NR is a "good thing"- especially when we were hoping for an NR announcing a JV. That's kind of stating the obvious. But it is what it is. Nothing has changed at HM. There it sits- waiting for funding so that drilling might begin. We all have hoped a deal would have been struck by now- but apparently that has yet to happen. So what do you do next? One could pack up and go home. As an investor you could sell your shares- no one's stopping anyone from doing that. And although some have- plenty haven't. As a company- what do you do? You continue readying the site and continue seeking a suitable funding deal. That's what's happening. As long as the effort is there- and my belief is that it definitely is- then there's not much else to do. I am pleased that JB is actively and strenuously seeking a suitable partner. Short of a deal- what else could you ask for?

Regarding your question and LBSR reply on Agoracom--I'm not sure why this has not sparked more positive comment. It was a great question- and thanks for asking it- It wasn't answered directly- I suspect to do so might be giving out too much material information- at least I hope so. But to specifically state that-"Yes"- we are closer to a binding financing agreement- I find pretty encouraging. Much more important than the next statement- "that there is lots of interest"- the kind of statement we have heard before. We assume there is plenty of "interest". The question is whether or not it is of the kind of interest that will move us towards a "funding agreement". And- apparently the answer is - Yes. I don't think this answer would be given lightly nor falsely. It means we are are not just languishing with some vaguely interested parties out there. It fulfills the hope that, among the various "interested parties", there is at least one with which we are moving towards an agreement. This is very good news.

I agree. The company has used toxic loans in the past. But this loan is so clearly geared to be short term that it sends a strong signal that vastly more stable, more advantageous and more usable funding is just around the corner. And by better funding- I don't mean simply a better loan- but rather a whole new regime- namely the JV or partnership we have been waiting for.

Well- I am simply waiting. I will predict that all we expect will come together. And it will be some time in the reasonably near future. But beyond that- I don't have such predictive powers.

No question. It is worrisome, indeed.

I hope you're not right on that one.

I agree that NP seemed to be on the back burner- especially with Uranium prices where they are. That's why it was surprising. But- as you suggest- if something can come of it- it is a bonus- with hopefully the proceeds going towards the big payoff at HM.

There seems to be a lot of good here. There does seem to be interest apart from the Naseba group. He states, "I am busy working on the follow-up from my Middle East travels . . . Now I have additional interested parties to talk to." Although I have heard JB speak of "interested parties" many times in the past- it is not typical to devote a whole NR to this. I do not believe he would do this lightly. It is also of note that he is working to "finalize a draft agreement for the North Pipes". This is a bit surprising. Wouldn't it be something to be able to partially finance HM with funds gleaned from NP. I think we are getting close to getting close.

And eventually for the bank account as well. Thanks for the concern.

I think before long it won't matter much whether one is down at .015 (I assume hopefully that's what you meant- not .158)- or .03. And for that matter- when you think about it- even .158. . Because when the deals are completed- all those numbers will be left far behind. It's kind of all or nothing. We will linger approximately where we are- a little up- a little down without news. But when it comes- pennies will be but a memory.

The bar really isn't all that high. That is- looking for the initial $6m or portion thereof with then an option to proceed to the next larger stage should not be such a great hurdle- although, admittedly, it has been thus far. But with the discussions which seem to be in progress, it seems that that initial necessary investment should be attainable.

Yes. The impression is clearly given that there are multiple "interested parties". And although there is nothing to indicate actual negotiations, as such, there appears to be an ongoing process of back and forth communication with multiple entities, suggesting that there is more than just idle interest. One can see how this might take a little time. And this makes the lack of an immediate announcement a little more tolerable. It also makes an eventual positive announcement much more likely.

"The potential investors we are working with". This phrase was used in LBSR's Agoracom response- Contrast Beijing/Middle East- which was interesting in many respects. But this phrase- while admittedly perhaps not intended to be so literally interpreted- certainly seems to imply more than simply making a presentation. It says they are are working with potential investors- more than one- and suggesting an ongoing process, as well. Moreover- "working with" also implies a two way process. The use of this phrase may be very significant. And very promising.

Although predicting and speculating is generally an unproductive endeavor, in view of this morning's infestation, I will indulge. Presumably the aforementioned LIO's and other documents have been sent out to the ME investors. Also presumably, all ten entities are aware of each others interest in LBSR. From this, I would anticipate responses fairly promptly. We might not hear about it- until documents are formally signed and deals closed it would not be considered material and thusly not reportable. But I believe that interest and activity leading to a deal is moving forward much more rapidly than many might think.

Agreed! It is another appropriate step along the orderly path to a funding deal.

One thing most of us can agree on- perhaps even yourself- is that yes- we are all waiting for a funding deal. Money would be very good. That's quite obvious. What's your point?

Actually, for anyone who might know anything about the permitting process, that would, in fact, be pertinent. But the real question is- is there really anyone who cares about what you "care to hear"?

Of course he is not pretending! He is proceeding towards drilling. In fact, the activities described- laying out drilling strategy, working through the permitting process- even down to the detail of the type of tires to be used- are no less part of drilling than filling up the gas tank of the drill rig before firing it up.

He certainly is acting like someone getting ready to drill. In fact, he is doing exactly what one would be doing if they had the funds for drilling already in hand.

Yep. You are right. That is among the possibilities.

Silence is Golden. If there were a deal in the works- this is what we would be hearing-- nothing.

Agreed. But even without the promotion- I think that promoter would be flattered to hear that someone thought he was so effective- day traders and flippers will jump on any stock with good upward movement. As momentum builds- that will be part of it. But we know they jump off as readily as they jump aboard. Ultimately- and I guess this is how you separate it out- sustained progress will depend on some positive news coming forth. It is a good dilemma to have.

I know there was great hope in MMTC and so I understand there is great disappointment there. But I wouldn't carry that over to LBSR. Finding a JV partner is the quest- and, of course, as part of that some profit is shared- but- that doesn't equal dilution- and the prospect and the reality of any JV will only drive the PPS upward and not downward as you inexplicably suggest. There will be drilling, anticipation of positive core results and then more drilling. All of which enhance LBSR's value and its pps.

I know it's hard to resist the temptation to engage. But the whole point of making groundless and knowingly incorrect statements- i.e. "incomplete ZTEM"- is to draw us into long and pointless dialogues that end up just being a frustration and highlight the position. To imply that JB has no faith in LBSR such that he has not bought shares couldn't be more ridiculous. It is true that he has little money to invest in LBSR- precisely because he has deferred most compensation. But obviously, the financial future of he and his family hinges on the increasing value of his many millions of options. Which, of course, motivates him to act in our benefit. Moreover- and it is so obvious that it needn't really even need saying- he has invested and devoted every drop of time, sweat, tears and his very reputation into LBSR. Investment to demonstrate interest and belief in its future? You couldn't ask for more from JB. See- now I've fallen into the same trap by responding.- It's so easy to do. Your strategy of ignore is probably best.

Unfortunately, Banks is correct in saying that he doesn't control the stickies. It may be his post. But our friendly "Millionaire Mod" put it up as a stickie - and the way it's set up, only the mod who puts up a stickie can take it down. So the fact that it is still there should not be surprising.

"Unless he offers profit sharing in exchange for money"- It's called a JV- and that's the point.

Meticulous- it is indeed an excellent word- and describes JB's preparation to a "T" (another English idiom).

It looks like every measure is being taken to make certain that the presentation is as complete, professional and persuasive as possible. Presenting this level of detailed planning makes it easier for investors. Essentially a turnkey situation- the investors will feel that there are no fuzzy uncertainties or untimely delays. Put in the money- and the drills start turning. Should appear very attractive to the investors. I believe they will agree.

I think that's correct- that not too many have left. That would be kind of crazy. All is in place and this is what we have been waiting for. It would be like sitting through a long show and then getting up and leaving just before the grande finale. And really- there isn't much to say at this juncture. It really is a matter of "wait and see".

Hopefully you have many good years ahead. With less angst, you will still have time to enjoy the rewards of your investment here.

As far as most of us are concerned- one is more than enough, thank you.