Ann: MoU executed directly with Andhra Pradesh Govt, page-30

It would have an affect to some extent but I would say it's minimal. Buying it from overseas, shipping it, paying taxes for importing it, then trucking it or transporting it by rail inland as far as the steel plants we are dealing with is always going to be more expensive than the domestic price.

It could drop to $20 and still cost more to import than source locally.

So really by letting global prices weigh in on a company dealing in a whole other market is useless as it has no major affect on our profitability.

Not that it's not useful information to have, I just think it's misleading. Show a chart of prices in AP and you will probably see the price going up, not down.

This is probably a significant reason a lot of investors are staying away from a company dealing in Iron Ore because they look straight at the commodity prices and ignore the fact that it's like worrying about the price of water for locals on earth when you are selling it to locals on Mars.

We may just need to agree to disagree on it