The idea, I think, is first to drill a cheaper target, given that financing for such may be easier to find.  Hence, the "student" lenders who are most likely a front for ordinarily toxic lenders.  If that is so, the contracted "investment" in LBSR will not come to fruition, though the "students" will remain available to another round of toxic lending (in my opinion, of course). 

Things seem gloomy in the sector during a time when seasonality should be lifting the industry. Metals and mining shares look to be suffering from the fear of pending increases in interest rates. The thing to understand about that is, historically speaking, when it begins, so too will increasing interest in mining shares.  Logical or not, that's the way it works. 

BTW, does BG have a new day job?  Should that not be of interest to shareholders?