I've been active in on-line message boards related to mining stocks for the last 20 years. In that time, I've seen activity increase in general, but slow dramatically in the last couple of years. It seems to get slower and slower as time goes on, and I've never seen it as bad as it is now.

Does this reflect capitulation, a market bottom with a major reversal just ahead? I don't know. I certainly hope so.

Looking back, interest in mining/exporation stocks accelerated as more and more people began to use the Web and on-line trading services in the early 1990's. This sector had the added push of seeing metals prices explode over a period of about ten years (from around 2001). However, prices have fallen substantially in the last two years. Further, and since the Financial Crisis of four years ago, exploration-phase mining companies have crashed, perhaps as badly as they did following WWI nearly a hundred years ago. Producers have been hurt as well. Here's an illustration from that sector as I can't find one for explorers.

http://finance.yahoo.com/echarts?s=^XAU+Interactive#symbol=^xau;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

In this environment, most explorers have either gone out of business, or they are hearing the "grim reaper" knocking on their door.

While this company has had some bad luck over the last decade, and maybe even made some poor choices, that it survives in this enviroment while advancing at least one exceptional project is a miracle, and a testiment to JB's skills (and that of other members of the board). If you can't fully accept that, take another look at the chart above. That indices peaked at 226.58 in 2010, and today sits at 80.97, a drop of 64 percent FOR PRODUCERS!

Our stars a lining up, and I believe the money/financing/stock price will soon follow. With that said, I am looking forward to the next bit of news from LBSR which history suggests will be out within a week to ten days.

VP