new joint venture partner

I believe that is likely that the JV will be for the Awari project and considering that BHP have recently taken out applications for a huge area of lease alongside GMX's Awari ground I am thinking that they would be the logical JV partner.Considering that GMX's EL1420 has already been granted it would allow them to commence exploration as soon as they wished.Also remember Talbot group still holds 19%+ of GMX and it might be possible for BHP to do a deal for that parcel which would give them almost a 20% stake which they would find almost impossible to buy on market.Don't forget that the top 20 hold almost 70% of GMX so the "free float" is rather small.GMX is in the envious position of holding one of the largest areas of leases on mainland New Guinea.If BHP are the JV partner don't be surprised if they pay a significant premium to our last traded price to pick up Talbot Group's holding