More along these lines... ...just playing with numbers while we wait.

In 2011, NDM had 50 percent interest in Pebble, and a stock price that was 16 times higher than today. Now that they have 100 percent interest in Pebble, one could say the 2011 value was 32 times higher than today. This is for proven and probable reserves in situ of around 444 billion dollars including only copper, gold and moly (forgetting other associated metals such as zinc, lead, silver, etc..

We already know that JB expects Hay Mountain to exceed 100 billion dollars in contained metals, not including possible rare earth elements. So, we couild have a range in value of between 100 billion and 444 billion dollars - as a base case - for Hay Mountain (again, not including RREs). If LBSR keeps, say, just 10 percent of the project, this can be worth as much as 12-53 dollars per share over time without futher dilution (which is likely to some extent, I think).

My point is, and while market caps at present are off for most all mining companies, LBSR without the environmentalist drags of NDM, should be able to easily achieve many multiples of it's present market cap with just a few holes - coming soon, hopefully.

'Nuff for now. More later maybe.

VP in AZ