Ann: IXR and VMM to form REE Refining and Recycling JV in Brazil, page-6

This is great news and I am still trying to digest it properly. However, I am curious why they have agreed a JV on a global basis (excluding Asia and Uganda), which in my mind right now firmly puts the guts of potential in
to Viridis’ hands.

to me, it looks on face value that IXR have sold the farm a bit. I say this because the way I read it is that should they want to licence this SST in the USA for instance, then the JV would be able to split profits 50:50 rather than IXR taking the lot.

Now, for disclosure I own both IXR and VMM, however I am disproportionately heavy on IXR so I would prefer they are more profitable than not.

Somebody please educate me that this is not the case!