Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Well I would hope you wouldn't need two accounting departments, two HR departments, two design teams etc and you could negotiate better deals with suppliers as you're buying in larger quantities. Hopefully!
S4K, the rns says "executed by 88 Energy AND Burgundy Xploration, LLC (together, the "JV Parties") WITH preferred bidder" (my capitals). Burgundy is late PB's vehicle and have been our partners for years. All the best.
I'm not sure I agree with the having to go cap in hand to a big player notion. If there was just 1 big player who could develop the field, that would be correct. But given multiple big players have gone through the data and determined they like the potential they will be more interested in out bidding their peers to get the asset, our financial position is not that important. In fact, being generous to us is how each will think they can curry our favour in selecting them.
Take an analogy of a poor farmer finding a priceless artifact in his field. That he is poor will be irrelevant to those rich collectors who want the item when it comes to offers.