Ann: India Project Proceeds to Next Stage, page-394

Thanks for sharing that Sam. Very interesting.
I did post on Feb 5th that the freezing was exactly as you have been told, as that is how I had read it in the announcement. Nice to be confirmed. ( Even though Satin did post how wrong I was. Seems like you where Satin!)
Its a pity you didn’t get to ask about NMDC approval because that was one of my other ponderings from the announcement, as it doesn’t actually state that NMDC had given formal board approval.
It states the partners have the confidence to forge ahead with preparations for “ratification”, signing and financial close. I found this line in the announcement very interesting. I believe this actually means that NMDC board haven’t still formally ratified the RCA at board level because the meeting closed with the Directors questions still to be answered. The way I read it, this Director (my belief is it was the new Director installed last month) had his questions answered satisfactorily the next day and subsequent discussions with ECT gave the informal go ahead, with actual board level formal approval a formality at the next board meeting. I believe ECT have tried to skirt around actually stating this because they perceived a bad market reaction and rantings of more delays, so they have done so rather ambiguously.
I don’t however see it as an issue as it’s clear from the announcement that the partners have agreed to forge ahead without any possibility of any further changes to the RCA. (The Freeze).
So the way I see it now is basically all the graph in the announcement is saying the partners are currently organising a signing date that will suit all parties and clearly needs to be after NMDC next board meeting, which I think will happen early in March. 
In the meantime ECT will get their funding in place.
All good in my view. Financial close will happen around end of March or early April and the project will commence.
All IMO