I hope there will be lots of info
Extract from the update.. 9/12/16
Master Project Agreement (MPA) As previously announced to the market (announcement 21 Oct 2016) ECT, along with its partners in India, NLC and NMDC have been working to conclude ......
The terms governing the corporate structure consider highly detailed and complex professional advice regarding tax, government and PSU2 regulations and future project outcomes that are subject to considerations across multiple jurisdictions. While the parties have made significant headway on concluding those terms, there remains a number of structural considerations that need to be finalised by the parties before those terms may be incorporated into the agreement ahead of execution.
THE ANSWER.......
from the trading halt
The Company has received a Certificate for Finding from AusIndustry to its application for an Advance Finding and Overseas Ruling in relation to its Coldry project in India.
I have already commented on the MPA delay being more of our getting our house in order, than our partners dragging the chain. I think this confirms it. Had to have a giggle
when I read this...........
' The trading halt is requested pending the detailed review of the finding by the Company so that it may provide a thorough update to shareholder '
They have never told us whats in the MPA, I suggest that this should read... so management can check clauses in the MPA that will affected.
I can see more delay with the MPA and management digging a hole for themselves by being evasive with the facts.
ALL IMO.
ESI Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
(20min delay)