As far as the owners of Karara are concerned, having GBG in as a...

As far as the owners of Karara are concerned, having GBG in as a part owner , would be a major butt pain.
So much easier in a corporate sense if all under sole ownership---you can do as you wish with out considering GBG

I think they should offer $ 100 m to buy out GBG interests.
And GBG in turn will buy back their 35 % ownership for $ 35m
So it costs them $ 65m which is a fraction of what GBG shareholders spend in building the operations.

This will leave GBG with nearly $ 100 m in cash , and our SP between 5 and 10 cents