Pebble is controlled by the Hunter Dickinson mining invest group.  These are higly successful people not given to drilling blind targets.  As much as I would like to believe they would risk sharehold wrath by doing so in regards to Hay Mountain, I just can't see it.

Otherwise, your link is bad.  In resonding to the part you quoted, Mitsubishi did not leave the Pebble Limited Partnership because of risks associated with development, or timelines.  Same for Anglo Gold.  They left for political reasons.

"Sports an inflated valuation..."?  That's debatable, IMO.

Pebble is nearly the size of Grasberg, but without the country risk.  PLUs, if and when they bring in a new partner, their valuation will rise accordingly, and immediatly on the heels of that news. 

Again, I do not believe any of this will have any direct effect on LBSR.

VP