Based on the volume of shares, I'd guess it was one of the note holders that lends LBSR money in return for discounted shares. They are uniquely placed to make money off of selling at a lower pps.

Unfortunately, this just raises the cost (to s/h via diluation) of future borrowings. Not sustainable in the long run. But then again, I have been here since we had mere hundreds of millions of shares outstanding :-) Figured we'd see 1-2B, which is where we are.

Really would prefer we drill soon and mitigate further dilution! But at the end of the day, would rather keep the lights on and doors open than not!