Well, let's look at the numbers.

They still have 3 million in debt, but now they also have 1 million in cash to service the debt and to drill. If they just service the debt with the money, they're good for maybe two years. Meaning, safety.

Drilling on the part of LBSR may be a moot point, because NAK would not have lent them the money or purchased 13% of the claims if they didn't believe in the property. And they in effect purchased 13% of the claims for 4 million dollars. That is just shocking!!! And they may still commit to 10 million more in exploration for a 60% earn in? MORE SHOCKING STILL!!!

I think that the current market cap of 4 million is actually a bit low for this deal, if the earn in deal goes through. I think that with a 10 million dollar budget in which the company would have ultimately a 40% interest, and a million in the bank, and 3 million in debt, I think the fair current price is about 2 or 3 cents. And I say that only because the dilution has been so so massive.

But if... if... NAK actually does agree to this earn in deal, and if, if... they actually find something, I think this will easily be worth 10 cents to 40 cents, depending on the scale of the discovery.

But let's take one step at a time. Right now I think we're undervalued by about 1 or two pennies, or double or triple the current price. Others might suggest that buying 13% of the claims for 4 million means the rest is worth an additional 30 million (simple math) but you can bet NAK picked the top prospects for it's deal. But don't be surprised if you see somebody else come out right away with this calculation and say we should be at 10 cents.

Not a bad entry point.