Hi @Stalkstock
I don't take your post as an attack or confrontational.
Many ELF holders have also converted a large portion of their options way back too. I know I converted several million.
My point is that regardless of who has done what in the past, the company needs cash and they need it now. Previously I responded with my view to sp3's post that you mentioned above, and really don't see any of those other options discussed as tangible options to move this forward. The loan book itself will not be good enough for NLC/NMDC as security on the bond. Hardly the liquidity to get the cash back in the event of ECT walking away.
Maybe ECT can elaborate on how the Vic project is coming along? They need to either
A) Drive the price up with news and ELF holders pay down loans
B) Heavily discount and request ELF holders repay in good faith that the project will go ahead
C) Sign the RCA and then Im sure most ELF holders will repay loans.
I can't see any cash being raised whilst the SP sitting at 1.0c with no firm commitment from our Indian Partners or news on the Vic project.
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