... do not do so too loud or long.
There is always the flip side because you can not squeeze water out of a rock. Namely that funding is not for free. For the price of no share dilution today we will have to pay tomorrow.

"loan US$22.5 million to Noront for a seven-year period at a 7% interest rate with interest to be accrued and paid at the end of the loan term."
Namely 7% over 7 years. Can you get 7% on a term deposit? I can't.
And how will it be paid back?

Unless Noront gets the permits in reasonable time to construct a mine and produce by that time then that can be paid back partly from profits. Remember we will also be paying back for the financing of the mine construction and perhaps a bit for road and to natives for the privilege.

And if the permits keep being seriously delayed so that they impact on the mine construction and perhaps no significant profits by that itme, Well we have no choice, there will be much delayed share dilution.

Pay for it now or pay for it later with 7% per year premium. That means we will pay back about 35 million dollars.

Enough of the nagativity, more positivity;
Franco Nevada in effect has bought into Noront with this:
"In addition, Noront will receive from Franco Nevada US$3.5 million in cash consideration as part of the granting of the royalty arrangements."

I presume that is in addition to the 22 million.
They bought from us royalties. That is an investment of a sort. But it also means trust that we will produce in satisfactory time for them to invest.

Just a bit of sobriety to the euphoria, Ed.

( Rely on me to rain on your parade lest you get too distracted, lol.)