Ann: India Project Proceeds to Next Stage, page-197

Two posts this morning nailed it imo. Dave1968 & Vacre.

NMDC has had several recent opportunities to walk. They have not. They are committed, but must follow Board protocol. The order of paying the bond is irrelevant - we/ECT knew it was "imminently" required for financial close.

Look at the trading yesterday. Quite amazing really - about 4 billion tradable shares & only 3.5m traded after a perceived setback. There was no panic. Look at the rock solid top 40. I see the vast majority have been there the last 5-7 years. My point is ECT has a very solid do or die shareholder base - not just the top 40.

So ECT need the bond cash component asap. How?

ECT have heavily flagged ELF incentives. I agree. No further dilution & near instant cash. Hopefully ECT can shortly reassure holders that after providing the bond - that is it, no more surprises leading to financial close.

So what sort of incentives? ECT are clearly in a "do or die" situation, so who cares about ECT profiting from ELF interest? Irrelevant now. I reckon it should be zero interest with some assurances that there are no more surprises prior to financial close. Do that & I'm convinced that the loyal long term shareholder base will rise to the occasion. As some have stated, NMDC are clearly very interested in Coldry-Matmor  All imo.

tick tock...