EXTRACT:

"But the junior exploration companies have had no access to capital for most of the last four years and they are dying like flies. The exploration model has utterly failed. The very few junior mining companies who still exist, and notice I am not saying thrive; the ones that still exist are the production companies or royalty companies."

http://www.321gold.com/editorials/moriarty/moriarty040815.html

Should LBSR get the deal on NPSP closed, not only will they be getting installment payments on 25 million dollars, but they may then soon also become recipients of royalty income - setting them apart from simple exploration companies.

VP