The punters already have some incentive not to walk away in the form of a break fee. It would be interesting to find out how much that is. The Indians seem to be crafty animals at business, thus far they have got 51% of the global royalties, excluding Australia, a break fee, and are now asking the hapless chaps to stump up dollars for bond.
This is interesting when you look at how many dollars have the Indians paid thus far in comparison with the frequenters of Punt road. Remember the crowing noises about this company dealing with billion dollar entities and others looking with delight at all the cash NMDC brought in this year?
I don't know where you got this idea that the chaps don't need the coin before the Indians put pen to paper. The diagram certainly has that event prior to any signing window.
So the question is really what scheme management are cooking up at the moment. I can't wait to see it because I really think it's going to be ridiculous.
All just IMO.
ECT Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
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