maybe you answered your own questions?
q) why are they farming out more land?
q) what is happeneing with the aquisition of a near producing asset?
q) where is the future cash coming from?
If they have a JV partner that has a near term producing asset, but needs the kind of exploration exposure that Baraka has, then its a good fit for each other?
Effectively BKP swaps land for cash generation from a NTPA.
You could complain that reducing BKPs land holdings is bad, but is it worse than diluting the shareholding? Probably not.
Plus the announcement of the aquisition of the NTPA will bolster the shareprice in the near term, so if any further raisings are neccessary, they wont be so dilutive.
this is all speculation.
bkp net land holding, page-15
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