Ann: MoU executed directly with Andhra Pradesh Govt, page-26

While the MoU  sounds great its not what we need.
http://www.thehindu.com/news/cities...d&utm_medium=RSS&utm_campaign=RSS_Syndication

Po and sales are our main priority and the commissioning of phase 2 in 5mths.

Ore prices have dropped back to 39.30 and falling after rising slightly.


The final cheap magna conversion probably the next announcement and i don't see them taking up the 200% future conversion so we need cash to pay back the loan which is with repayment of each loan commencing six months after the loan is drawn down, and being completed a further 12 months from that date with a  15% premium.

Conversion of the 200% could happen if my interpertation of this statement is right.

The loans can be converted by Magna into NSL ordinary shares at any time during the term at a fixed price of 200% of the average VWAP in the 5 days prior to the execution date of Definitive Documents

To me this says if we have a massive announcement and shares go stupid(stage2)  then magna can take up the 200% 5days vwap prior to the announcement(execution date of Definitive Documents).
Which i think would only happen if the price went up and above 200% a for magna to realise instant profit.

Time will tell