Just read through the whole 2016 report and it was indeed an...

Just read through the whole 2016 report and it was indeed an interesting case.

The merit is based on the conjecture that adjoining tenements have yielded significant coal deposits and by applying the same geology to NSL coordinated targets, such coal bearing deposits (if identified and drilled with the correct spacing to prove up the deposit) would have also achieved similar significant targets. Key question here is whether NSL reneged on the drilling targets and thus did not achieve the key milestones agreed upon. Of consequence is not that the coal seam was proven, but that the key milestones were not achieved and therefore no milestone payments made to the other party.

It has to be noted that experts from both sides will be arguing as to the evidence in the likelihood that adjoining sites and NSL targets would have proved similar, and to whether a falling coal market would have indeed be economically viable to all parties.

I can definitely see both sides of the argument and it will be interesting whatever the outcome. Not a lot at stake financially as mentioned earlier, but will take some shine off the Indian story. Definitely not a reason to sell shares if you are investing for the Indian story.