In my opinion, there are but three things weighing on this subject.

1) Hay Mountain is a blind target.

2) Two million dollars needed for drilling.

3) In the U.S., this is probably the worst time in nearly one hundred years for exploration miners to find money, let alone two million dolloars for a blind target.

Fund raising is difficult enough even without these overhangs. Look at LBSR's Hay Mountain neighbor, Excelsior. They've completed feasibility on a low cost, high return project, but can't find funding for development.

As to Freeport, has their stock price not been complicated by it's efforts to extracate itself from it's disasterous venture into oil and gas (exploration, development & production)? By that I mean I don't understand the comparison, buy it's irrelavent to me anyway, given points 1, 2, and 3 above.

Again, just my opinion.

VP