Ann: Mining Lease Granted for Isabel Nickel Project - San Jorge, page-285

I'll have a stab at that:

They approached 'new board member' for bail out financial help. This helps them in the short time being able to say they have finances sorted to be able to mine so the mining license got approval. They would also be using this capital to finalize how the heck they plan on mining this and there usual burning of cash expenses. Using this private finance will also help them get around the fact they don't have a JORC. Quite clever really - but stinks of desperation and poor planning.

Still - IMHO - this stock isn't the game changer everyone thinks it is. Don't forget they have to make a deal with a contract mining partner yet - all costs money and chews into any profits!