Dear all suffering shareholders I was very surprised (in a good...

Dear all suffering shareholders

I was very surprised (in a good way this time) that the Project Monitoring Group official website now shows Aravalli project "ALL ISSUES ARE RESOLVED".
Seems to me that Aravalli is now cleared for IRL…now we just wait the actual grant of the mining lease into IRL’s hot little hands.

SEE HERE:
http://cabsecpmg.gov.in/cabsec/cci_acceptedprojects.php

Anyway, I'm used to nearly 8 years of disappointment, so who knows if Hindustan Zinc/Vedanta will now launch into the courts to get the ML.
Even if they do, they will NOT be able to get the ML as India Resources legally has title over the land (through RP) and has Central Government backing.
Might be too early to call it just yet, however:
Remember, Aravalli could hold OVER $20 BILLION in situ/in ground value (depending upon Zn/Pb prices from now until 2022 and beyond as well as further higher grade zones which could even increase the mineralisation!)

135,623,100 tons of 3.58% Pb+Zn
Todays Zn/Pb price at $2300 per tonne =
Zn/Pb at $2500 per tonne = $12 billion in situ/in ground

Zn/Pb at $3000 per tonne = $14.5 billion in situ/in ground

Zn/Pb at $3500 per tonne = $17 billion in situ/in ground

Zn/Pb at $4000 per tonne = $19.4 billion in situ/in ground

Zn/Pb at $4500 per tonne = $21.8 billion in situ/in ground

Zn/Pb at $5000 = $24.3 billion in situ/in ground

Correct me if the above rough/back of the envelope in situ calculations are incredibly wrong.

Obviously, we then take away development and other exenses and undertake a DCF analysis to arrive at a net present value (NPV) for the Aravalli Project on the basis of each of these price eventualities and I’m sure we’ll be looking good whichever way you slice it.

"Aravalli base metal project has been initiated by Crown Mining Pvt Ltd. for the extraction of base metals such as Zinc and Lead. CMPL is a subsidiary of India resources Ltd. Government vide its letter No. F.18 (20) Mines/Gr.2/2004 dated 01 August 2005, which was came effected from 20.10.2005 upto 19.10.2008. CMPL has spent a significant sum of 1.58 USD for carrying out the exploration and drilling work. After Successful completion of RP 1/2004, CMPL has applied for Mining Lease (ML87/2008) for an area of 24.40 Sq KM vide application dated Total direct employment is estimated in the order of 2000 and this may further increase together with expansion of mines and plant. Geological report shows a total mineralisation of 135,623,100 tons of 3.58% Pb+Zn. With this project we pledge to bring Australian technology in mining sector."

FINGERS, TOES AND EYES CROSSED

Hiphop

Opposing views welcomed.