VP - your points are well taken.

My expectation is that ZTEM can in the near future, as it proves itself and becomes more known, significantly reduce risk, thereby cutting some lead times and increase ROI. Advance planning of the best projects through ranking, etc. would put an investor group in the better position to get the best deals. And the better time to lock this in is during down times such as now, unless of course one thinks the whole world is collapsing. Even with improved technology, project lead times as even LBSR has acknowledged leave one's head shaking. The market being cyclical, I would not want to be at the end of the wave. How can one know there is a mega project until ZTEM + approved drilling show it so? Logic: start being serious now, JV'rs. Ah, who said the financiers were always logical?

JMHO