Thanks Barry81 Looking through their website, they seem to be...

Thanks Barry81

Looking through their website, they seem to be project facilitators rather than investors.

"I-Gold has the capability to participate in all facets of Project Development..."

I could be wrong, but my guess would be that they are acting on someone else's behalf.

The last time a big fish wanted to get involved, it was $A21B Indian miner NMDC limited.

The terms from that 2011 JV MOU included:

NMDC to acquire 50% equity in the Wonarah Project
NMDC to arrange project finance
Repayment by NMDC to the Company of certain project and other costs already incurred

Further info here:
Microsoft Word - 110601 MOU Signed_Development of Wonarah.docx (asx.com.au)

I don't think we'd go down the NMDC path again, but I'd expect similar terms if another JV with a big fish was to eventuate.