Genuity could need the money to buy in for the financing of the Noront mine. Lets look at my thinking.

1, Next winter. Noront can direct ship over ice road in the first year stuff needed to dig and ship ore and early mining. I figure that 50-100million could set them up with the initial start with headframe and shaft, iceroad and trucks bringing in mine construction supplies.

2 Second winter they should have the stockpile of high grade direct feed ore ready for shipping out with concentrated ore moving over iceroad. This should payoff loans

3 Third winter Cliffs may be ready to start building but Noront could already be at the Chromite, sell to Cliffs so Cliffs can start suppy to customers and ready to start shipping over railroad the lesser grades of Ni and Higher grades of chromite and Gold from JJJ

4. Cliffs still building and Noront starts full production untill Cliffs is ready to fullfill chromite market then Noront stops chromite sales to Cliffs as they takeover all chromite sales for the next 30+years.

This gets Cliffs into market quicker and Noront can start mining faster. Win Win.