I could be wrong, but I don't see much meaning in the September 29 date. I think it's just a date chosen because a blank on a form required something be put there*. All that really matters (in terms of progress towards drilling) is a JV. That could be announced tomorrow, or a year from tomorrow, though I expect sooner than later.

Meanwhile, the fact that someone stepped foward with a small financing to keep the lights on is also fairly meaningless. Bills have to be paid, claim fees have to paid, and the potential being expressed by work at Hay Mountain grows in orders of magnitude to easily make up for this, even as many will view this as a negative. Well, if that's the case, HOLD ON TO YOU HAT, because you ain't see noth'n yet, IMO, even if a JV is announced as early as next week.

I say that because a partner is not likely to be paying operating expenses for LBSR..., unless management and shareholders are willing to give away the best of Hay Mountain's potential.

Personally, I expect more dilution, a lot more, but I also expect the difference to look like a "rounding error" when the full potential of Hay Mountain is realized, to say nothing of other claims in southeastern Arizona.

By the way, percious metals and mining shares took a big hit today, but the fact that base metals were essentially flat proves, in my opinion, that the market is just squerrely. I suspect it will look better as we get deeper into the month.

VP

* This reminds me of a government form my wife recenly showed me. It asked is she was 1) Hispanic, 2) Non-Hispanic, or 3) Other. Good grief, and people get paid to make up these forms, and then to "analyze" them. Geez!