ngalia uranium jv, page-2

THX has a lot of projects on the go, too many imo. So it makes sense to seek jv partners across some of them, hopefully get a couple of decent upfront payments, and use these funds to further drilling at more advanced projects.

Finding a major for Ngalia is a great option. I know sometimes they sit on tenements once they have secured farm-in arrangements, but uranium is starting to hot up again, so the rsik of this happening should be reduced.

The main issue I have with the tenements being carved up into small lots, and jv's being agreed with small(er) companies, is they will most probably not have much cash. This means potentially the following issues:
1) less resources to meaningfully further the exploration - so THX may not get value add in terms of proving up a resource from the initial farm-in %;
2) THX would probably have to take shares in the jv partners, and we don't want THX to end up with a bunch of illiquid holdings in small companies.

So I think we will get the best bang for our buck out of a large company farming in to Ngalia. International or local are ok.