My understanding was NOT took over a 75% stake in BMK's holdings in the Ring.

Transaction Details

Noront will issue $750,000 of common shares in the Company to MacDonald to earn its 75% interest. MacDonald will have a 25% carried interest until the issuance of a NI 43-101 compliant resource on one of the properties, at which time MacDonald will have the option to convert the carried interest into a 1% NSR (the Conversion Right). If MacDonald does not elect to exercise its Conversion Right, Noront can elect to buy back MacDonald’s 25% interest for $3 million (the Buy-back Right), payable in cash or shares at the option of Noront. If neither the Conversion Right nor the Buy-back Right are exercised, a Joint Venture arrangement will be formed between the parties to develop the properties.

I will see if I can get more info.

https://norontresources.com/noront-announces-acquisition-of-macdonald-mines-properties-and-update-on-ring-of-fire-development-2/

GS40