Ann: Completion of $30 Million Oversubscribed Placement, page-113

Heeman,

Norlsk had the plants up for sale for a few years already, they wanted roughly 280 mil including the asset we did not acquire honeymoon well, the assets were up for sale when nickel markets hit a bear period with an oversupply of nickel ore and nickel prices suppressed, juniors found it extremely difficult to have any confidence and financiers were not willing to lend, hence no one came good or were brave enough to acquire it for the market price..most tolling was controlled by BHP anyway.

The Russian sanctions forced their hand for a quicker exit - to severe all ties with the west, LJ as we know was profitable well below nickel prices currently, we became the beneficiers of extremely well timed acquisitions coinciding with the Indonesian ore ban at the start of this year, sending NP to profitable levels, nobody took Indonesia's warnings seriously until it was confirmed!

The assets as we know were eventually acquired for 2.5 mil. There are "other conditions" to the sale that is still TBA.. but as you can see this was purely a ballsy well timed move by the board that paid off!
Lemons? Most definitely not as confirmed by the engineering report for BS, LJ is our crown jewel as DS describes it, gave the board the "high five" factor! update and JORC- TBA.

All IMO - from my research

Cheers
Sprook