SE Arizona neighbor, Excelsior Mining, recenly acquired the assets of copper producer/ore processor Nord at Johnson Camp on I-10 north of Hay Mountain. At the same time - about 5-moths ago - they completeled a 12 million dollar financing to advance their institu underground copper leaching project at their adjoining Gunnision project. All of this should have been good news for shareholders, and it may have been, but it has not really translated into as strong a performance in the share price as one might expect.

Indeed, the price is up better than for copper miners in general, but it also lags that of precious metals producers (and gold is a byproduct at Johnson Camp).

Could there still be opportunity here for LBSR? Certainly if LBSR has ore-grade material at Hay Mountain, Johnson Camp will play a role in getting the minerals to market, but I'm wondering if something more could be at play. Time will tell.

VP in AZ