Count me in with the group that thought a deal with the Saudis was imminent. I still do not know if it was the wording of the press release, the hope and excitement of finally getting a deal or a combination of both... the comments of this board and VP's comments on the other board have helped to move on to some constructive thoughts...
VP on Thursday posted his thoughts as to "blind targets" such as Hay Mountain where as we all know exploratory finance money has not been available. Meanwhile there are countries that are desperate for resources which have to look for "blind targets."
VP states in a post on May 22nd: "LBSR is responding to a niche market coming from an overlooked need to train explorers in mine finding, and in parts of the world which may host highly desirable, but presently "blind" targets." Further he relates that there is no school for countries looking for such "blind targets" and LBSR is responding to this need.
Yesterday VP reviewed in a summary manner (with links) the state of mining with five countries in the area including Saudi Arabia, Egypt, Kuwait, Oman and Turkey. Generally these countries have some resources (except for Kuwait which is said to be looking abroad) in various stages of limited development.
As has been mentioned here, the countries in the Middle East appear to be diversifying their economies as it is well documented that oil resources will at some point run out. It is common sense that companies and countries have to look several years out in order to fulfill their future needs.
We have hopefully a "win - win" situation where there is need and a "niche" is filled. Trying to keep positive and "thanks" to the longs here.
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