Given the discussions involving NPSP, I think it time to revisit possible valuations. Recall that the typical mineralized pipe in the area contains 14-16 pounds of uranium per ton (492 - 562 dollars), and that mining costs would be exceedingly low - guessing not more that 50 dollars per ton - that's a lot of cash flow, even if it will not be long lasting.

If the typical pipe in the area can produde 26 million pounds of uranium, gross income before taxex could run around 900 million dollars, and that's for ONE PIPE!

Drill it, prove it, and a half interest may be worth 450 million over time. That is, before discounting to a present value.

The question for now, however, is what may be the present value of an unproven pipe, or the triple-rooted pipe, or a portion of the claims block? ...probably doesn't matter much as I think a deal will include LBSR retaining an interest in the venture, with the partner fronting drilling and development costs. Then, our rewards as shareholders will being as drilling proves a discovery.

By the way, I forget the exact figure, but I think USGS suggests that 50-60 percent of the pipes in this area are mineralized. LBSR being early in the staking rush probably has the best ground too.

Got'a go. Oklahome is playing Notre Dame from South Bend. Go Sooners!

VP in AZ