I can't find the details of the original Phase 1 drilling plan, so the following is from general recollections, perhaps faulty to some extent, but generally correct for this discussion.

1.  Phase 1 drilling would cost in the area of twenty-one million dollars. 
2.  If after spending half of that amount without having encouraging results, a partner could leave the program without penalty.
3.  Any prospective partner who wished to enter Phase 1 drilling would have to have the financial capability to transition into Phase 2, should results warrant.

Generally speaking, that is how the "big boys" play.  Doing anything less risks leaving LBSR dead forever, and that risk is magnified exponentially with each step that is abbreviated. 

In my opinion, a handfull of shareholders can not develop the kind of funds needed to adequately advance Hay Mountain by the means being discussed in this thread.  Moreover, I see it as disrespectful of our board, especially in that Boyd Gordon has been with us but for a few months, and Brett Gross at the helm for less than a year.

Their seeming silence does not mean that they and the other board members are sitting around wondering what shareholders can do for them.  They already work for us, not us for them.

I would suggest that the best we as shareholders can do at this point is to participate in private placements and/or support the share price, which, after all, is likely to play a role in whatever partnership is eventually arranged.

...just my feelings on the topic, I could be wrong.

VP