Standing Strong !!, page-19

It's often said here that some deal could/should be done with Creasy and his private company PlatX to make Mt Thirsty complete (a good idea IMO). I've been pondering what such a deal might look like, and have read some of his previous JV agreements. As a prospector he seems to be more interested in buyouts and minority free-carried shares than controlling stakes or buying out others.

If a JV was agreed, judging by past deals, it would probably look something like this:
BAR/CNJ JV would acquire 70% ownership of PlatX's tenements,
- paid for in equity
- and cash reimbursement for previous exploration.
PlatX would be free-carried to the decision to mine, at which point Creasy could either opt in or out of his share and obligation to fund. (It would be 30% of 30%, so only 10% overall)
They've probably spent a few million in drilling over the years, which is the cash BAR/CNJ would have to find.

Another possibility is Creasy simply buying out CNJ, which would get PlatX a 66%+ share of the whole project. But I think that's less likely, given that he generally prefers others to do the lifting. I suppose he could buy CNJ, establish the controlling stake, then flog it off again (which could be quite cunning right about now... a 66% interest in a ready to mine 48Mt high grade cobalt reserve, expandable to 60Mt+ @100% ownership, byo capex....)