Downside is considerably less than TRP (the JV partners) due to...

Downside is considerably less than TRP (the JV partners) due to the cash as you say. Bear in mind that there are three common directors to TRP & GBP. They have all have bought shares in the last few weeks in both companies. I read this as a very positive sign - they are confident (& are betting a huge amount on the drill - look at the respective holdings of Blakry, Taylor & Savage and work out how much they are sitting on with this drillbit.....).
Let us hope the outcome is better than Kenya (or that the Woody court case comes good!)