"The Aravalli project was originally a granted Mining Licence to HZL on the 14th June 1993 for a period of 20 years, but the Ministry for Mines decided after 12 years to cancel the ML."
I believe that once a period of time passes, after the grant of the ML (12 months? 24 months?) and no mine is being developed, the Goverment can cancel the mining lease. Which is what happened in this case (even if it was 12 yrs later, its an even stronger case against HZL, surely)
I have seen legislation to this effect not sure if you have come across such a reference? Maybe MMDR Act?
IRL always plays by the rules (and rightly so as this is non negotiable) , which is why all this nonsense is taking too long.
All we can do now is put pressure on IRL management to perform. Cut down on sleep if necessary.
I encourage everyone to email management and RCF.
RCF must come to the party. This could actually be a once in a decade opportunity for RCF if they pull this off. Weirder things have happened.
We need this mining lease or its all over.
IRL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
