re RCF hypothetically demanding cash - I would view it as "utter desparation"; probably due to failure/insolvency of Noront as RCF is the major shareholder. Of course they are playing for the long run and are averaging down their share price over time.

2,275,000 shares at $0.34 per Common Share (BoD) + PLUS + 2,866,667 (pp) ~5M shares dilution.

Private placements at constantly lower shareprices ("down rounds") are not a positive but rather the last resort for a company not to "die".

Also big shareholders / investors of private placements often not only get great averages ($) but also special rights (redemption rights, liquidation preferences, etc.).