Ann: India Project Proceeds to Next Stage, page-86

Well guys my two penneth worth and take on this Ann is that there is nothing new

We were not expecting anything signed From my understanding NLC gave their approval without signatures as far as we are aware in the Ann previous it just stated NLC have given their approval

With regards to NMDC looks like they sat around the table discussed this thoroughly looked at the $15mil as in this is our contribution sat in the bank no worries we can meet our obligation NLC $15mil no worries  

Lets look at ECTs contribution oh dear yes we can see they have $14mil in elf loans but its not physical cash that can be drawn down on yes we have other assets but again this is not cash guaranteed

I believe the questions asked by NMDC were clarified as in

“We understand that the questions were subsequently addressed to the director’s satisfaction, paving the way forward

So we gave them the answers they were seeking but the confirmation of funding @ bank  just is not there, so therefore the sunset has gone by and the RCA has been frozen

looks like we have been served a put up or shut up by the big end of town

Hence we are now seeking Cash and or possible guarantor for our commitment to the project before the project gets signed of by all parties

Just my interpretation i could be wrong

see what transpires

GL to all