Take a look at the deal Havilah did with Oz Minerals before BHP came along.
THAT is the model deal for us.
JV's suck.....as we would still have to fund a much smaller interest.
The JV partners can screw you and delay spending etc etc etc
An outright sale for a DECENT price with escalators for additional discoveries and any major increase above a specified level is a brilliant strategy.
Go read up on it.
Havilah also got up front cash to continue with exploration.
DDD
DDD
Ecuador and general reseach., page-425
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