I have located a never-seen-before (i think) PDF file which is pretty much a full due diligence of IVZ and the opportunity that it brings for any partner.
Invictus contacted them (appears to be in 2019) to help market the project to potential farm in partners:
Even though Invictus are fully funded for forward work programme they wish to engage with an experienced onshore partner and are therefore offering a material share of their 80% interest in the Permit return for funding the planned exploration well.
Personally i would prefer to go alone, and keep the full 80% working interest. But it looks like IVZ wants an experienced onshore partner (because experience is very important, especially for a project like this) to be able to do the best possible drilling/exploring. That's understandable. They want the best shot that they can get to make this work.
The drilling of the well only costs approx US$ 10 million - to give you an idea of the costs to explore these wells. The cost of a well to 3500m depth is estimated at around US $10million, where a shallower well drilled less than 2000m would cost US $8million or less.
Another interesting fact:
IVZ exploration terms require them to drill one of the exploration wells before the expiry of the next term (mid 2023). I think the reason being is: (1) in order to be eligible to renew the license to keep exploring. (2) because the Zimbabwe government doesn't want "time wasters" - they want this to happen or they'll give the license to someone else to drill it instead.
