I think the issue is less one of will LBSR receive a partnership offer on Hay Mountain than one of will JB negotiate one he finds acceptable.  In other words, just how much is he willing to give away for the sake of making a deal?

Herein is why having multiple parties showing interest is of paramount importance, though none of this insures any offers at all.

...could be he's playing one party against another, though there is no evidence of this "in the storm clouds" for now.