Barrick cannot operate a 90k ozs project. They want the 4 or 10m...

Barrick cannot operate a 90k ozs project. They want the 4 or 10m elephant that might be there and Troy would only get 20% but without dilution. And that is a very good deal. The JV should extend to the other half of tenement asap. And we know cut off and probably top cut as well are conservative and Smart u/g will likely turn out larger and lower cost than the pfs indicates.

However, I think you said that, Smarts u/g is an exploration window at what lies at depth. And Barrick might be interested in that. Maybe Troy could operate the project with having the reserves below a certain level going to the JV?