Re: Is It Possible LBSR will Drill 3 to 4 Holes at Hay Mountain?
in response to
by
posted on
Jul 23, 2018 11:11PM
Combining Classic Mineral Exploration with State of the Art Technology
I'm not sure that sufficient funds could be assembled in this fashion, even for 3 or 4 holes. But as JB holds out for a deal to get funds for a full 10+ hole campaign, time is passing us by. I know he has steadfastly maintained the position that it would be irresponsible to drill just 1 or 2 holes- no matter how precise and positive the data- there still being a high probability of a miss- and then it being well nigh impossible to get further funding.
But the thing is- we're not doing so great this way either- that is- seeking funding with only the scientific data and no drill data. Sure, there is interest- it seems there has been plenty- but- as far as we know- no one willing to pull the trigger. And it shouldn't be thought that we're not loosing anything by waiting for that perfect big JV deal. As time passes- bad stuff happens. Things can change and opportunities lost. For example- it looked like copper demand was skyrocketing and the POC unstoppable- and as the POC was going up we would see a veritable frenzy of interest. But then what happens. Trump makes his brilliant tariff move. Hopefully, the POC will recover- and it probably will- but- for the time being- that momentum is lost. Who knows what else might befall us. That's why it seems that acting sooner might be better than acting later-or it might become- never.
It's not exactly a shot in the dark- but it is true that only a single hole might fail- despite JB's track record. But 3 or 4? Their positioning might be made different than if part of a larger program- rather than being positioned as part of a grid designed to delineate the layout of the deposit- they might be instead positioned such as to maximize the probability of a "first strike". If successful, funds would certainly flow in to complete a proper grid. Moreover- just the act of starting to drill would "light the fuse" as has been said and would immediately increase the share price and make further funding easier. Now- I'm neither a geologist nor a miner- and so basically have no idea as to what I'm talking about- other than logic, history and common sense. Freely admitted. So I/we defer to the experts. But I fear- if we continue to wait for that perfect deal- the experts will run out of either funds, time or opportunity.
Now- maybe JB has a deal nearly in hand- in which case- I will be thrilled for this whole discussion to be moot. But if not- I hope that Mr. Briscoe would consider a more modest initial drilling program to kickstart the program and get us on our way to finally bringing this potentially great project to fruition.