Announcement from 19/11/18 is pretty clear that it may not be a cash payment.
Project bond to be issued in favour of NLCIL and NMDC:
The bond will be in the amount of ~AUD3.5M or 10% of the PCC approved capital budget, whichever is the higher amount.
The bond will be in the form of either:
A bank guarantee; or
Such other suitable financial instrument as agreed between the parties.
I also think this sentence from today is pertinent:
In parallel to the above mentioned approval activity with NMDC and NLCIL, the Company is progressing its preparations to meet these commitments before execution of the major capital works contracts. (not financial close or RCA signing)
Announcement from 19/11/18 is pretty clear that it may not be a...
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