When I talked to Adam earlier in the year, he said he would be happy with 50% funding, so my guess is if we get 30 million from elsewhere NLC/NMDC will contribute about 10 million(at this stage it is all about spreading the risk). Adam also mentioned we may be able to get some r and d money in India. I know cornerstone investor(NLC or NMDC) was put on the table but maybe that is looking unlikely and would probably have occurred by now if it were happening(doesn't need tripartite agreement to proceed?).
So coldry demonstration plant will cost approx. 15-20 million, how much do we need for matmor?
Looks like deal definitely going ahead as we have said for a while but the details will decide where we go from here.
From looking at top 40, most significant holders have been associated with the company or are on board through platinum road and greenard willing eg Shakespeare investing, Menzies. So IMO the word is not out yet and won't be till esi announce the tripartite agreement and it is in the media. Once we get new holders on board and it is in the wider community we will see the gains we are looking for.
ESI Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
