These Khan articles certainly give us some good insight as to where Khan might want to take this. It would also explain the delay and what might be going on behind the scenes. Forming a mixed company with VZ having majority control would cause several other issues to arise. Here is some food for thought:

Number one, we'd owe the noteholders their money immediately because we'd have a loss of control. So Fung would have to negotiate the noteholders settlement or payoff.

Number two, would VZ kick in any money toward the construction of the mine? Given their financial status, I would highly doubt it. They have always felt the gold is theirs so that is their contribution. So, Fung would have to raise $300M+ to build the mine knowing he will only have access to less than 50% of the gold sales.

Number three, would the profits we would make be sufficient to cause a substantial rise in our stock price given the reduced profits and added dilution (if Fung goes that route)?

Number four, Khan seems to be a supporter of the one mine theory with LC/LB. More reserves so that is good. But does LB get thrown in under our operating contract? Who knows.

I think this avenue is certainly better than the alternative of being stuck in the mud. However, this road reduces the liklihood of a huge payday. But at this point, a small profit is better than a big loss. But as you can see, there are a lot of moving parts to this and a lot to navigate through.