Just to be clear, I do not believe anyone should curtail investment(s) in copper-related investments at this time just because the near term prospects are cloudy. [Traders/flippers not included.]

In regards to Hay Mountain, if grades are as good as we expect, I think we will be on a fast track to development, regardless of where we are in the cycle.

This is what is attractive about exploration-phase mining - success, in terms of PPS, is not so dependent upon the price of the product, ...and premium prices are always paid for premium grades despite market cycles.

Missing in all of the news, too, is that costs have been and are rising rapidly, narrowing the break-even range for producers. This adds pressure to prices for lower cost, higher yielding projects, such as may be available from LBSR.