Dude, it already is a three-way joint venture, and with Bolivian government entities that don't negotiate. FMNJ is the outsider, and as such has likely been treated so. IMHO, we really don't need another joint in the venture. Rather, we need some deep-pocketed private investors as shareholders, and for two reasons.
The first is that this will provide much-needed revenue for the operations (and hopefully the buyback of stock at some point).
The second, is that unlike us lowly common investors who carry 0 weight, any large-scale private investors will maintain a watchful eye over what's going on. If they don't like what they see, quick work will be made out of replacing personnel, redirecting activities or projects, etc. We don't know everything that's going on, so Petty may be doing a great job. But we have no idea because we're all kept in the dark, and have no idea as to the true status of the company or its projects. A large-stake private investor gets courted constantly, just in case the resource needs to be tapped further at a later date. So, if Petty, or his constituents, or the projects, or anything else, needs change, and can be justified, it will likely happen in short order. This is just based on my experience.