"The Master Project Agreement (MPA) is currently the subject of an independent financial review as a requirement under the broader project review by the Indian governments peak strategic planning committee, NITI Aayog.
ECT’s Mr Ashley Moore commented “Due to probity requirements around such reviews, the Company must necessarily remain at arm’s length while the process runs its course.
“However, both NMDC and NLC remain highly motivated to proceed and we look forward to working closely with them to progress through this review and finalise the MPA, and expressed as much in our recent meetings, reported on later in this update."
Did anyone notice the terms:
'independent financial review?' 'at arms length?' highly motivated to proceed?'
In my humble opinion, this shows moving forward and also shows why management does not have control.
Regarding the dwindling share price, if your investment strategy is based on other people's lack of vision, then maybe you should sell. I see it as an opportunity to buy at a discount!
No joke
ESI Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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