Half agree Zubric. Explorers rarely make the transition to miner...

Half agree Zubric. Explorers rarely make the transition to miner and often go under trying.

However, explorers that find the resource first then do a JV are in a very strong position to dictate terms to the partner. This is not the case here with BUX. Sure it has secured a partner to fund exploration but at what cost to shareholders? It keeps the cookie jar topped up in the head office which ensures that management can plan for retirement but how does that benefit shareholders? As for seeking further opportunities, well I came on board for this resource. But this effectively outsources half my investment to the management to go off seeking new projects.  What if they choose to peg or buy leases I am not interested in. This is not the reason I bought into BUX.

All I am saying is that this deal is super good for management. Good for the JV partner. Investors carry all the risk for a much reduced return.