Ann: Commercial Purchase Order Received, page-304

hi bj,

you havn't missed any direct commentary....at this stage absolutely no straight forward suggestion from the company that they will ramp up above and beyond the next stated 200kt plant.... however, this has repeatedly been stated that this was planned out of purely cashflow they would generate from operations...what they could fund themselves......but they have never said they wouldn't take onboard finance etc also...

in favour of ramping up was the below extract from the "steel plant progress update" announcement on 22.12.16 (and repeated in last quarterly):

"The CM directed the Secretary of Mines to work immediately on non-active mines to provide additional beneficiation feedstock to facilitate the Company’s expansion plans and requested NSL accelerate the beneficiation plant production."

So one would think if the government that your getting an amazing ride from asks you to ramp up, you would do everything to try and ramp up, not to mention the profits it would generate, along with helping to cement first mover advantage with this technology in India.....

Against it though, is the fact that the 2 x 1mt plants highlighted have not had all the approvals applied for that they need (environmental etc)....So it wont be automatic..... However, when asked, Cedric has indicated that they will not take anywhere near the same amount of time as the first couple of 200kt plant approvals... They have been there, done that and learnt from it..... Not to mention, if a government wants you to ramp up, it will probably help expediate the process....


So there is expectation of 200kt, but, hope for something more also....