"KRY is already in a sort of JV with VZ"

Not really. When it seems confusing, go back to the basics. KRY has an MOC with specific rights and obligations.

If KRY develops the mine with another entity in a JV, I would expect that entity would provide money. How much and in what form is a point of speculation.

If KRY were to develop the mine alone it would require financing, say $300-350 million. To get $300-350 million, KRY would have to sell shares for some part of that amount, which would dilute current holders. A JV partner that provides financing and bears costs would reach a similar result in terms of dilution of our profits. It really all depends on the terms of any deal or equity sale as to the final effect.

Noticed improved price and volume over the last 30 minutes, go KRY!