Approved or Not Approved??

Had some time to read theannouncement fully and I conclude our project didn’t make the board meeting forwhatever reason unfortunately :

“On 29 March, 2019 an extension to the voluntary suspensionwas granted until 22 April 2019 to address 7 key objectives in achievingcertainty around the process and timeframes.”

All objectives have been metto enable signing of this project that has been going for how many months tothe approval of signing stage – I’m sure all directors are aware of the project

Having it potentially tabledfor approval for the last couple of board meeting.

“NMDC held its board meeting on 28 May2019 at which time, the proposal to proceed with the India project was tabledfor approval.

In previousannouncements, the Company outlined 7 objectives it was looking to complete. Inthe last week, objectives 6 and 7 were met, with NMDC advising its internalprocesses were met and that the India project proposal was on the agenda forconsideration at their meeting.”

Having all objectives met it’s hard to not see that thetabled RCA is either approved or not approved at the meeting especially thatthe extended MOU that I assume was agreed upon by NMDC in regards to theirtimeframe, especially considering they had a MOTZA year.

“Further to the above,the most recent extension to the memorandum of understanding (MOU) expired on31 May 2019 and as such a further extension, signed by ECT, has been providedto NMDC and NLC India Limited for their approval. This extension is for afurther three months.”

Everything before the above statement was positive,having signed a further extension for 3 months which has been provided to NMDC - sounds like our project didn’t make the Meeting for Approval, it is also Contradictory in the fact that it seems contact has beenmade for an extension with NMDC – they could have easily said no need for anextension as the project has been approved.

My reasoning why it hasn’t been approved unfortunately.

Cheers

M.oz

PS it would take a miracle for sure !