...and evolving rules of thumb for valuing acquisitions - 2.2 percent of contained metals last year, 11-12 percent back in '06/'07.

http://www.mining.com/outside-money-start-to-pour-into-mining-ma/

Putting aside a lot of variables, and assuming a deposit of "average" attractiveness compared to those purchased last year, 50 percent of 2.2 percert of 100 billion (assuming LBSR owns all mineral rights in the deposit) is 1.1 billion dollars. Assuming metals values continue climbing and Hay Mountain is sold for '06/'07 values, one may be looking at 5.5 to 6.0 billion dollars.

Having said that, I don't know if JB is applying anything from the Principle if Diminishing Returns in his 100 billion dollar overall estimate of value for the possible deposit in the Hay Mountain area, and I don't know to what extent size and grade effect the numbers used in the story linked above. Like I said, "a lot of variables."

VP