EV, Bravo! I like your thinking, and the quality of your presentation of it.
My take is minimally different.
1. As a consequence of the deal on NPSP, LBSR has no further immediate need for cash for operating purposes - meaning salaries, claims fees, rent, etc.
2. If so, this will merely put off for a time the point at which the company may want to sell shares into the open market to advance some project/projects on it's own account (other than the main or discovery claims at Hay Mountain). After all, 100 percent ownership of a successful claim/mine at the cost of some dilution is still very much better for shareholders than most JVs at the cost of the company's diluted interest in the claims(s).
Other than that, cancelling the remainder of the financial arrangement with KVM tells me that LBSR must have "money in the bank" now, or at least in escrow - something we have just not yet heard about. So, I see a lot more exciting news beginning to line up for us, and I think the flow is going to be fast and furious as compared to the recent past.
As I once worked for a railroad, let me shout out, "All aboard!"
VP in AZ