without a doubt... its a big investment for a company such as...

without a doubt... its a big investment for a company such as GNX with such a small balance sheet.

IMO the fact that they are asking a JV equity partner to come in to allow the deal to reach FC and start turning soil indicates to me that they would have little in the way of negotiation chips... it NEEDS the equity investment to be able to go ahead... it has so much pre-arranged (finance, power lines, contractors, asset operation offtake etc)... but without the equity investment... it just cannot start. Without JV.. no PH, no new powerline, no K2W either...

The JV equity partner would also be able to see all of the sensitive metrics on this too... and know/work out GNX's RoR on their portion of the investment... would not surprise me if they were playing hardball to ensure their RoR was greater than GNX's.

I am far less informed than many of the good people here... but the missing of prior stated JV financial close and running to the wire for FC this quarter signals to me that GNX are a passenger to the closing of this deal.