Cant help looking at this from a different angle. ie Nicanda Hill JV first
Until recently Ton has not been able to negotiate a JV due to only owning 80%. They can do so now though.
As an example, if Ton were to enter say a 10% free carry JV with a major, our share price at time of agreement would be immaterial. Whether our SP were 0.08 or 0.80 - 10 % is still 10 %. But, such an agreement should dramatically boost the SP allowing for better finance terms for Ancuabe.
Could this be what we are waiting on?
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