To claify my thoughts on this matter, the staged payments from the sale of the NPSP would cover operating costs, and more. So too would royalty payments which will follow on a delayed basis. Anything left will help to fund other work, depending up the nature and scope of such work. I don't think it means LBSR would, on this event alone, be capable of funding a project of it's own similar to Hay Mountain, but it would be a step in that direction.

That said, I am not looking for the NPSP to close in the near time. ...just my opinion.

Putting this subject aside for the moment, an expanded share base could make a huge difference in planning for future projects should the stock price find reason to rise very dramatically from the present level. But that's a different and as yet unscheduled ball game from the one we are in now.

VP