I could be wrong here but if NAK called the loan in October and LBSR could not come up with the $ then wouldn't NAK get all the claims by default? Perhaps LBSR was negotiating a JV in Vancoover with some other company and could have paid off NAK in full but the terms of that JV may have been less beneficial that what JB was able to negotiate with NAK. It could be that we were and still are negotiating a JV with someone other than NAK. Why else would NAK even bother making a deal with JB?
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