The key statement in the private placement press release is this:

Quote: The proceeds of the offering will be used to place the Company’s drill in the ground for Phase 1 of the Hay Mountain Project.

Anyone with a large existing, or soon acquired, holding in LBSR should be intent on seeing to it that the placement is fully subscribed and drilling begins.

For such investors, the beginning of drilling, which the company is now fully prepared for, will make the terms of the placement practically irrelevant.

It took a lot of work and time to get to this point. A bit more ventured now may be all it takes to make good on a long-endured loss.

The story is good, the geology sound, the risk real, and the possible reward (not only financial) appealing.

I think there's a good chance this will work.