But from where will that catalyst come if it isn't paid for first? Would that be private placement (PP) at a discount to the present share price, or a JV at a discount to the present shareprice? These are about the only options at present, right?

IMO, shareholders will be better off with a PP now (hopefully resulting in a huge move in the share price following drill results), and then a JV or JVs based on the subsequenly much higher overall capitalized value of the company.

Dilution is just part of the game. How it's managed is what's important.

When I made a large move into this stock, I anticipated around a billion shares would be out before this would make a "profound" move to the upside. Though I will be happy have overestimated in this regard, we are on track for a billion shares outstanding.

No big deal in my opinion, if Hay Mountain alone can bring LBSR at least one billion dollars over time (and it should, if what JB anticipates is proven to be correct).

...how I see it anyway.

VP in AZ