I think the broad and stinging (to shareholders) form of dilution you are refering to is not necessary, either for LBSR or TMBXF.

The simple fact is, Hay Mountain and/or LBSR will be diluted in one form or another. That's just how this business works. What matters in the end is how much interest the company has in it's claims once one or more assests are monetized to the fullest extent possible.

As things are looking now, I see LBSR remaining with a much larger interest in Hay Mountain than I had been expecting ealier, since they may not have to deal away addition pieces of the property to get it developed, though I doubt they will hold it into development or production.

That's how I see it. You?