I believe we are needlessly complicating things here. Noront has no need to purchase FNC in order to do a deal on just the claim next to their DE 1 find. All they have to do is enter into a JV deal giving FNC either a wack of cash or shares and promise to spend x dollars on exploration within a set time period. Deal gets done and everyone walks away happy.

 FNC are not going to let go of this claim for chump change and neither Noront or anyone else is going to pay huge dollars until something is drilled to indicate a rich deposit. Best, win-win, situation is to give up some percentage to obtain immediate benefit AND someone to spend a lot of money fast to find out what's there. Noront or BMK are the only players at the moment who could drill quickly and Noront better heeled financially.