Appreciate your comments- as always. I think it may be hard to compare. I believe previously the drilling campaign was described in terms of the number of holes to be drilled, but it seems most recently to be described in terms of feet to be drilled- I believe 10K feet was mentioned. In any case, my point was not so much in regard to how many feet or holes are to be drilled- but rather, when number one will be drilled. Hopefully soon.

I, for one have not posted much of late. Those old timers, such as SG, might remember a time that seems long ago when I was a fairly prolific poster. But now it seems that there's not much that needs saying. It's fairly simple- we all "know what we have in the ground"- and I, like many others, believe what we have at HM is fantastic. But- until we have funding and begin drilling, it remains in the ground, not doing any of us much good. And that's it. Like everyone else, I am very frustrated that funding has not been achieved. One can recite an all too long list of what were reportedly near misses- with a very international cast of characters. These include- the Chinese gambit, with work done by L. Liang, the Toronto meeting with the Chinese, and JB's trip to China. Then there were the various Middle East efforts, which included sending emmissaries to the Gulf States, in part stymied by the "Arab Spring". Then there were the Saudi Arabian efforts which were coupled with the plan to provide training to the foriegn nationals in return for their investments. And then there was the Filipino group- a deal which seemed tantilizingly close- at least based on what we think we knew- before it, too, fell through. There was also the the quick buck precious metal surface mining plan for self funding, which never quite materialized. Certainly JB can not be faulted for lack of trying. Of course there were and are many other efforts- some we knew about and, I'm sure many others- probably on a daily basis, that we don't know about.

But unfortunately- despite all this effort- and despite having something of immense value to offer- first Big Chunk and now HM- it has all thus far been for naught. Actually- I believe the only successful deal LBSR has achieved- was the result of drilling- when we extinguished about $5 million in debt in the NAK deal after drilling our one hole. Maybe there is a message here.-  We need to drill!

I know that JB and others here have long argued that it is just too risky to throw everything at just one hole. And there are contracting and cost issues as well. And even the $ 1 million 10 hole plan is cutting back from the $2 million originally hoped for before drilling was to begin. But times awasting. We do not have unlimited time- and I don't mean just because we are all eager for immediate success. I mean- there comes a point where, if action is not taken, opportunity can disappear altogether and forever. Things can happen- even, God forbid, things like health issues that can disrupt plans unexpectedly and perminently. 

So I would argue again that we need to proceed as soon as possible- even with 1 or 2 holes as soon as the next $150K is in hand. Even if it means, in part, using expensive and dilutional Tangier monies. It's been used for other costs. Why not this? Once drilling is successful- all these financial issues will essentially resolve themselves. If not successful- well then- maybe this wasn't meant to be. 

But we expect success. That's why we all have remained here. I, for one, have tremendous confidence in the scientific findings at HM. I have been and remain a strong supporter- and appreciate all that JB has done. And for the record- continue to increase my holdings here. But until we drill- there will be X's on maps and much in the ground- but there it will remain- until those drills start spinning.

Yes. Thanks for showing those great charts! (The 60 day looks even more dramatic).

Copper prices continue to skyrocket- currently at 2.67- been over 2.70. In the past I've posted the Kitco charts, but "tinypics" doesn't seem to work on Agoracom currently. It is quite impressive to see that curve. I don't know that this will continue, and JB has pointed out that near horizon copper prices don't matter much (at least when prices are down) since this is a long term game. But I can't help but think that this may change the psychology and possibly bring new interest and new players into the game. That is- "Gee- look at that copper price heading up- where is a good copper play?"- and they might start looking and whereas before they might not think to give a glance- now they may become aware of LBSR and look our way. The psychology couldn't have been any worse before. Hopefully it is changing for the better.

Yep, VP- I think so.

I appreciate the clarification. But I was not suggesting that we were necessarily locked into doing nothing until the $2 million is raised. I was really expressing the hope that what you just outlined might be so- that it is possible that we might proceed before the $2 million is raised. I raised the question because I believe I remember JB saying- maybe in response to a shareholder's question here on Agoracom- that it would be foolish to proceed before full funding was achieved- that poor early results might close the door on any further exploration- and a great opportunity would be lost, essentially because of lack of patience. While I would agree that betting the farm on just one hole would be risky- a few holes might be more reasonable. The question was whether there was just that flexibility allowing for starting with more than one hole but with something less than the funds needed for the full campaign. I'm happy to hear that your understanding supports that more flexible position.