Ann: Kendenup Graphite Project Acquired, page-22

I understand that there is definitely the possibility of JV'ing all these projects out and getting some significant value accretion, however, not many JV partners are going to sign up to a percentage of the project if there hasn't been any drill holes in the area.

Royalty from Ghana is on their list too but that's years away from any further drilling let alone production.

If they could have some good hits and get a big player on board as a JV partner to spend $X to get X% of the project then they might start seeing some value accretion, otherwise, they just "hold" this land in the peak of a mineral cycle and won't be touching many of them until they come back into favour.