It's up to EXS'management to make a good deal once there would be a possible JV. The value for stakeholders is always based upon what EXS has to offer to the partner and everybody on this BB knows EXS has an impressive land package with lots of deposits in the ground. So if management is as good as we all believe, we can possibly expect some exiting weeks and months to come.
I agree with Miningjunkie. It is too early for a JV unless it is structured in such a way that EXS cannot be held up by bureaucracy and additional corporate evaluations. Any first rights of refusal must be very short term.