Joint venture would be a great way to minimize dilution for...

Joint venture would be a great way to minimize dilution for existing shareholders, and could very well be accretive over the long-term.

BGS has a MASSIVE lithium resource, so even with a 50/50 joint venture (or minority stake), there's still plenty of profits to be made, especially if (big if) the company can also somehow get an invitation to participate in any type of future secondary processing type of deal. But that would just be icing on the cake and not essential since just producing spod concentrate at "reasonable" long-term prices still should yield an NPV of close to $1 billion AUD...

The more lithium that is discovered in Mali, the better, as it further justifies money flowing into the region to create a lithium "district" perhaps not of the caliber of WA but maybe the next best thing for hard rock lithium. So, it's also good to see neighbor Kodal up to 20 Mt of resource...

As a refresher, SQM sold 50% of their flagship brine project to SQM back in 2016 for "only" $25 million USD. That was before the market really woke up to the EV hyper-growth story, so I'm guessing such a tier 1 lithium project would command much more in today's market (depressed and all). Also noteworthy, POSCO agreed to pay Galaxy $280 million USD for just their northern tenements.

Not sure how much BGS would get for an outright sale, but I'm confident a joint venture with a LEGITIMATE lithium powerhouse would lead to shares re-rating in a hurry.

To better days ahead! GLTAH!