"Fact # 6 Backers, upon acquisition of CLF's assets are definitely NOT going to giftwrap same and ceremoniously hand them over to NOT or KWG out of the goodness of their hearts."

There is always a price.
But Bao's interest is probably to have access to a larger stock pile of chromite so they may be able to take lower payback as long as the reasurance ( read guarantee ) is there for decades to come.

RCF on the other hand are likely to go for nothing short of profit for the duration that any loan is paid back from Noront profits or rayalties.

Both may be content to have Noront being a minority owner and operator.