imho there is almost no chance of a JV partner for Dargues. Who...

imho there is almost no chance of a JV partner for Dargues. Who do you propose would be interested? On what terms?
Far more likely the whole project would be offloaded in a cash + shares + royalty deal. Then UML can crow about available cash to fund new exploration (keeping the directors in jobs for another year or two) while claiming exposure to future production are Dargues. I don't find it realistic to think these directors can develop Dargues in this market. If they could have got a funding package over the line they'd have done it already.

UML needs to be evaluated in terms of being a microcap explorer, it's been a long time since BDG and 500mil market caps.