Ann: India Project Proceeds to Next Stage, page-200

Here is my interpretation of the announcement and timelines provided.


NMDC and or NLCIL may or may not have asked where our cash component of the project bond is going to come from, but the answer is through the ELF regardless.

I note the wording is finalise all actions and not finalise funding in that particular time slot, I also note there is what appears to be up to a couple of weeks from possibly signing the RCA and the date of financial close. Even if it was a week that should be enough time to get the required funds in.

Or maybe they didn’t ask and we are just getting on the front foot to show we have this in train to complete financial close by the 31st March.

I think it would make sense to all shareholders and ELF holders to be given the heads up, this is what we propose for the Project Bond, giving ELF holders an opportunity to contemplate and or arrange funds in advance for payment when the RCA is signed and just prior to financial close.

I’d like to think holders would support their investment under that type of scenario.


Again this is just my interpretation of the announcement, not a given