Ann: India Project Update, page-135

The blame certainly rests on management's head, or as I have often called them, the punters of Punt road. You can't be strung along the same line for several years and then cry foul when the same thing that has happened virtually every preceding time happens again. If they had the business acumen of more pragmatic people they would have been making money and better decisions the whole time. If that were the case they could take or leave any deal at their leisure without squandering 51% of the royalties. I wonder if the break fee applies if NLC signs but NMDC doesn't... would be a wily strategy from the Indians.