Standing Strong !!, page-151

I've always thought the JV will re-launch Mt T much like BPL re-launched their cobalt prospect as COB - with re-launch of the MtT project as a larger combined resource inc Platx, and with an IPO. This way BAR and CNJ investors shares are transferred into the new entity as an equal % ownership, Creasy gets a %, and a new portion of shares are sold through the IPO. This way investors, both large and small can better understand how to invest in the project (one company is easier to market, easier to raise funds, ownership is clear etc), CNJ investors become investors in the new entity, and BAR investors equally so, as well as remaining owners of BAR shares - which will be re-valued by the market once BAR's ownership of MtT is transferred.

Note how BAR is rapidly building up its plan to become a sustainable gold producer (yesterday's purchase of Birthday Gift mine with underground decline ramp to historic Main Lode mine is a huge step forwards). Currently the market has no idea how to value BAR's gold (calling it worth $10Mil at the moment = cheap in my opinion), but my guess is BAR will also launch a new strategic plan for their gold assets before any of the above happens - so they can be more easily valued by the market - as a gold prospector AND producer.

Win for CNJ, win for BAR, win for Platx

My feeling is that all of the above, or some similar re-launch of the JV with Platx buying in, but without an IPO has been in the planning for at least a year. And that the tricky/time requiring bits have been: A, proving the cheap, low-capex cobalt extraction method (tick), and B, drilling the whole resource to understand who owns what % (the BAR/CNJ JV versus Platx) so a new JV can be fairly concieved.

....and then there's the very real possibility that one or more cobalt buyers (Panasonic, CATL, VW YES PLEASE) have also been involved with these discussions...

Then once all ducks are in a line, we'll see a Mt Thirsty re-launch.

Solarbat