Willy's post is about the most sensible I've read in days.  I agree completely.  In summary, he said...

1.  Financing for Hay Mountain can be done within a subsidiary company instead of LBSR itself.

2.  Having a reverse split in LBSR (as a holding company) before drilling is improbable. 

Also quite improbable is the guessed at 1,000 to 1 number.  See Willy's educated guess.

https://agoracom.com/ir/libertystar/forums/discussion/topics/720186-new-president-s-statement-libertystaruranium/messages/2215913#message

On this subject, there seems to be a lot of misunderstanding.  Yes, reverse splits are usually very bad for shareholders when they happen without news/progress leading to a stronger company.  Aside from the presence or absence of such news, it means a 10 thousand dollar investment before a reverse split is still worth 10 thousand afterward.  And that value remains subject to rising or falling based on pretty much the same fundamental happenings as would come about anyway - good news usually meaning higher share prices, no news or bad news meaning the opposite.  

Besides, a public company by its charter is limited as to the number of shares it can sell.  The only way to extend that is by a vote formalized in a meeting of shareholders.  When that happens, one either has to vote "yes", or watch the company fold its tent and go away. 

As Willy suggests, and as I have mentioned earlier too, it is very highly likely that the share price will be rising before we have a vote on a financial restructuring of LBSR (as a holding company).  That will make it a lot more palatable for those still having doubts about what a reverse split means.

In regards to a related topic, I've been to LBSR shareholder meetings.  They are not expensive affairs as compared to much larger public companies.  Not having a meeting will not pay for a drill hole.

VP