I think Kiser provided us with an answer as to what transpired with NOT share price over the past months:

“Their favourite strategy was to do a private placement, wait the four months and then unload it onto the retail investor and clip the warrant — in other words flip the stock, clip the warrant, de-risk their exposure and get a free ride on the fundamentals while you took the risk of whether or not the project worked out,” Kaiser said.

I think the party is RCF.
They received cheap shares and dumped many of them to get some of their capital back.

Thanks Luker