I'm so completely shocked that I'm still trying to wrap my head around this.
Is this correct?
The company now has Northern Dynasty as a partner.
It owes NAK 3 million at 10% interest.
Has 1 million in cash.
NAK may still agree to invest up to 10 million in exploration.
So, basically, the company has to service the debt with the 1 million in cash and use that for exploration, too, but NAK has basically saved Liberty Star from oblivion and has given a HUGE vote of confidence in Big Chunk by taking 13% of the claims in exchange for 4 million dollars?
Meaning, potentially, the rest of the claims are worth far in excess of that?
I'm pinching myself.