"...then my guess is we could be looking at a very decent sized deposit in Tombstone."
Why do I have to keep posting that there are only 220 acres here? 220 acres! If drills show good returns, do you think this property can be developed as a stand along project? I doubt it. Your "decent size deposit" is not likely to be contained entirely within those 220 acres.
Frankly, while good grades may give some level of a boost to the LBSR share price, the big winner will be Tombstone Exploration, who hold thousands of adjoining and other nearby acres, and who have ZTEM proven targets. In fact, I think Tombstone is not drilling now, because they can use results from LBSR's work to help finance their needs, or support whatever JV may be on the horizon for both companies.
Hmmm. As I think about, good grades may very well and ignorantly run LBSR's share price beyond reason given the size of the holdings here. Could be a very good trading opportunity coming up. Another run coming to 20 cents or higher, only to be followed by a crash to 5 cents, or 3 cents again?
Once more, LBSR only has 220 acres at Walnut Creek/Tombstone. Be cautious of hype here that results from drilling will "make it all better" and send the PPS skyward forever. Good start though it may be, the flippers/traders/hypsters will be ones to make out best in the short term.
In fact, they may now - given the sudden increase in there presence here - be trying to get shares at cheaper prices in anticipation of what I outline above. Think about it.
"To be forewarned is to be forearmed."
VP in AZ
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