While FNC value/sp will jump if they hit significant mineralization, NOT's price will also appreciate for reasons discussed in these forums earlier. But NOT is not a crapshoot today, so any deal by FNC to share in NOT's fortunes should be considered substantially accretive to shareholder value . The problem is that FNC is at a bit of a crossroads as you point out. Unless management is clairvoyant, a JV deal with NOT in which NOT pays the costs and pays for a back-in on a pre agreed formula with NOT shares is the best deal for FNC and likely the safest for NOT. Kind of like 'deal or no deal', but both parties, and especially FNC would be wise to negotiate such a deal. Unfortunately for FNC, there is a far greater chance they might have good drill results but fail to come up with tonnage, leaving them largely at NOT's mercy. Hopefully, management does not get too caught up in the big prize that they hit NO DEAL button !!