It's a necessary giveaway to focus the company on other assets. It is smoke screened in a JV to give a facade of effort from the board and placate long-holding shareholders who came in on the asset years ago. It's not a 20% free carry to production or BFS, so it's not a great deal. It would be very very difficult to raise funds for 20% interest in ongoing pre-BFS on a small resource. It's also a clever way to get rid of a project for $500k in scrip, without shareholder approval via a JV on an asset that has a large balance sheet carrying cost that would otherwise incur the cost of an EGM. Not much choice as the market slides, shame it was not completed in 2021 when prices were more inflated. lets hope the Uranium in the USA works out.
THR Price at posting:
0.7¢ Sentiment: Sell Disclosure: Held
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