I think the reason for the JV split is very easy to figure out: Everything that is collateral for the gold loan (preiously used for the former Investec debt) is out of reach. Everything still "free" was used for the JV. So a deal with Troy/AIMS would bring a lot of additional tenements to Barrick.
With Smarts Underground very interesting exploration-wise as well.
Ann: Annual General Meeting Update, page-25
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