Such an engagement would not be neccessary would there not be very strong evidence of REEs in economic grades at Hay Mountain!

This deal, along with LBSR perhaps becoming the first in North America to show REEs in vast, high and/or Bonanza grades, may well catapult the company into "Gatekeeper" status for other explorers and developers in the Southwest. I say that not in the sense that LBSR would be controlling access to the area, but more in the sense that they will become the "go to" company for exploration advise, at least for a few years. If so, this may lead to some "free", though minor JV interests in additional projects.

...just my opinion, and it's certainly subject to change based on future developments.

Moving on from there, what a lot of people don't appreciate about this part of the LBSR story is that Rare Earth Elements are classified as "strategic minerals", not only by industry, but also by the US Congress. What are "strategic minerals"?

"Stategic minerals can be defined by a couple of standards. First, a developed nation needs them for military, industrial or commercial purposes that are essential to the economy, defense, medicine, and for other reasons."

"In the second definition, not enough of the essential minerals are available in the country to meet essential national interests. They must be bought and imported from elsewhere. The US, Europe and Japan are now at the point of having to get their strategic minerals from elsewhere and are in increasing competition for them."

Read more here. http://www.sciences360.com/index.php/what-are-strategic-minerals-8538/

Also, this news may be well timed to coincide with JB's soon-to-be departure for the Middle East, another part of the globe desparate for new mineral resources outside of the hydocarbon sector.

VP