In my opinion, this was not unexpected! I've been expressing here for for years that these small financings will continue for a long time, and that shareholders should be prepared for even more.

And as was also posted earlier, this will not be as costly as some may be thinking because news on a partnership (and later drilling results) will allow refinancings and/or other financings on very much more favorable terms, ...but there will be more financings until LBSR sells all or part of some drill-proven project.

Again, these are just facts of life in this business, so one should never be surprised by news like this even as to the terms. What are the alternative?

VP