Not sure what "two prospects" you mean, but if you are including the Alaska claims, I think those are on hold for now.

As to NPSP, the deal was for 25 million as reimbersment of expenses (to be paid in installments), plus royaly income from production. I don't think the company has said what the cash will be used for, but the assumption is it will go for operating expenses. There is some chance too that some portion of it will go to advancing exploration(s) on claims not subject to a partnership. I think the actual plans here are insider information for now.

In direct answer to your question about what LBSR will "give up" (transfer), that will be all of their claims in the NPSP district.

In regards to your item no. 2, everything is subject to negotiation. We can only assume what the answers to your questions may be, based upon previous comments from the company.

With these things in mind, here are my personal speculations.

LBSR will contribute JV interest in the claim(s), and management of the exploration drilling program(s), and, perhaps, education/training for the foreign entity, if that's part of the deal - something they can take home to use for their own accounts. The partner(s) will contribute money.

As to timing, who knows? After signing an agreement in principle, a final deal can take weeks to months, if it happens at all. It depends on the motivations of the potential partners, and the amicability? of their attorneys.

...all in my opinion.

VP