In the short term they would certainly gain a premium on their...

In the short term they would certainly gain a premium on their investment, that's for sure.
However, not seeing the entire project reaching fruition and being operational as a production going concern, then no.
You would possibly be better off taking a position in the other member(s) of the JV agreement, especially as it's basically paid for in cash earned from their current activities.

Hopefully I'm entirely misled in my assumption and the board have plans away from the current JV, due to different external market forces instead.