Now PG's thoughtsI present without bias
As a shareholder, I very much welcomed this news because from day one when @AmerPacMine inherited this JV, Kennecott went at it at the speed of molasses. Lets not forget for a little over $2 mil in shares, USGD acquired this JV at a time when they were running on fumes. Since then, Kennecott did do almost $7 mil in work that in my highly-bias view, makes the project look much more attractive then when I first got involved. I suspect with any decent drill results now by USGD themselves, at the very minimum, they can strike a far superior JV with a major who wants to really go at it. And to those who say Kennecott's exit is a big negative, put aside for a moment internal changes supposely underway that make outside the U.S. more attractive to those in charge at Kennecott, there have been so many majors who have waked away from a JV with a junior like USGD, only for the junior to hit it big. Just 3 that I can recall: #1 -Newmont walks away from a JV with Western States in 1987 on the Goldstrike property on the Carlin Trend. It was directly responsible for the existence of Barrick. They don't want to talk about it to this day, after the worlds largest gold mine was discovered after they left. #2 -Newmont walks away from Waihi in New Zealand and essentially made Oceana in the process. #3 -Cordex discovers Lone Tree in 1987 with nothing but trench sampling. They JV with SFPM and bail (for reasons I don't know). A little money changed hands and Santa Fe wound up with a mine that produced 7 million ounces for pennies on the dollar.