I'll try to answer your question with an excerpt of a reply I got from Old Joe regarding this subject.

I have somethimes trouble just comprehending the extensive posts from Old Joe, but I think he has one of the most vastest experience in dealing with junior mining stocks on this and other boards, and if you read between the lines you'll see he is always bang on.

"Several of the individuals that do much work for several of the individuals/investment funds involved in the PP and the fact they were very focused on a few other projects and also almost said as much as 'The JBL' would not be a priority for several years to come and not too sure of then (during the next bull market as they were pretending (knowing much differently that they were just taking a breather) this one was over a year ago) and the only one able to continue on there (besides allowing the Diamond mine to develop...) with any cash at all was Noront and the others were soon to be out of business (no cash on hand and a drying up PP market due to the end of the Bull Market making raising the funds too expensive with so many shares out (they were focused on SPQ and KWG and considered UC to be a mess) causing far too much dilution ("They will have to consolidate their shares and start over again" is very close to what I heard being stated in ~ April-May 2007) and others were involved in legal matters etc. elsewhere and would not be able to afford to do anything up in JBL either and the claims would end up likely back in Government hands....
A lot of talk that I was able to remember mostly because I was following several of these companies on and off for a few years ...Many years ago when Diamond Exploration got started in the area I knew and occasionally discusses desires by some to open up the JBL to exploration but the commodities markets were down and big companies were getting out of the direct exploration business. The present structure of the Exploration industry was just getting rediscovered by many investor and investor groups after many years of control of the best prospective lands in much of every known mineral district by the big companies.
The goings on in the exploration industry are as they are. It is a very difficult industry for all involved regardless of their perspective or position. But just as in many other facets of industry and life it somehow keeps working most of the time. "

Thanks Old Joe, Helium