13 Feb announcement
Further to the Company’s recent update (5 February 2019), which provided an overview of the next steps through to financial close, ECT is pleased to confirm the RCA is being finalised by its partners and is expected to be ‘frozen’ shortly.
Today
NMDC has committed to ratifying their prior in-principle approval for the project at their next board meeting, with a date anticipated to be confirmed in the coming days. ECT Chairman, Glenn Fozard and COO, Jim Blackburn have arrived in India today to meet senior staff of NMDC and NLCIL to finalise the RCA terms. Jim Blackburn commented, “Over the past few weeks we’ve continued to narrow the outstanding items of the RCA. These items have focused on ensuring the structure around the licensing is appropriately stated to accommodate the intended transition from the initial R&D phase, through to the commercial phase. We look forward to finalising the agreement shortly and ‘freezing’ its content ahead of signing.” ECT will hold an extraordinary board meeting once the RCA is ‘frozen’ to consider the approval to sign
tick tock !
ECT Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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