The Enemy in Novos bed Sprott's loan to NVO was secured with NFG shares. Unfortunately, this is not in the presentation from November 2021. In addition, NVO has to pay 15% interest on the loan. M. E. has at least mentally written off Sprott's stake in NVO.
His only concern is NVO's participation in NFG. NVO currently no longer seems creditworthy and should also have problems raising equity. If you don't get the curve now and deliver positive cash flow, the furnace is out and Sprott then has approx. 32% in NFG.
The enemy of NVO sits on its own supervisory board (?) And is called Eric Sprott! Sprott is so influential that if NVO needs capital again, it can / will discourage potential investors from getting involved: It is now a question of survival, almost nothing should go wrong.
peter