ad is gone!, page-9

As far as the negotiations with NMDC are concerned, there is no indication from either party that negotiations have ceased. Thus, one would assume that they are still ongoing.

I know we're all somewhat disillusioned with the performance of MAK in regards to the discussions with NMDC, but we should all keep in mind that NMDC are going to be cautious and thorough in their due diligence. This would be a large investment for them, with a potential committment of billions of dollars of investment to bring the product to market. Remember that they are a government enterprise, so would have their own hoops to jump through. They will take as long as they need to, and with MAK needing them more than the other way, guess who is the master and who is the one forced to wait. I don't think AD has much influence over this aspect i.e. how long it is taking.

Be patient and it will happen when it does. India needs the phosphate since other sources in the middle east are unstable and risky. Remember that NMDC has to arrange all the financing, so they are not going to jump into it just to please us MAK shareholders.

This view may not be popular, and I understand that the recent goings on with the UCL takeover were unnecessary. Now, with AD gone out of his leading role, hopefully the new bloke will mend fences and get the NMDC deal for Wonarah to progress faster.

All the best.