coldry opportunity , page-4

Arion,

I wouldn’t go so far as to say a deal is all tied up, but as per the ‘Shareholders update – Coldry demonstration project’ back in July

ECT successfully passed through the Expression of Interest (EOI) stage, and has recently submitted a more detailed proposal for NLC’s lignite-dewatering project, again supported through the design engineering completed with Arup.

We then had a couple of articles pop out August / September regarding proposals put forward for “acquiring assets as well as long-term coal linkages”

"We have shortlisted about 20 per cent of the 89 proposals for acquiring assets as well as long-term coal linkages, which we received from Indonesia, Mozambique, Australia, Columbia, US and Canada. We have sought details from the companies," a top Neyveli Lignite official told PTI

"Once we complete the due-diligence by the end of next month, we will be in a position to acquire at least two to three assets to secure 2-10 million tonnes of fuel linkages for our power project," he said.

This is just my dot joining guess only , but the timing of our ‘proposal’ as reported early July; the reports stating in August / September that the proposal list had been culled down from 89 to 18 number ; would suggest in my opinion a similar initial submission timing of ‘July’ for all interested parties.....due diligence was to be carried out by the end of the next month and the acquisition of assets there after.

"We are evaluating the proposals and would take a final decision in the next two months," a top Neyveli Lignite Corporation (NLC) official told PTI.

There has been no acquisition of these long term assets from overseas to date; I suspect that any ‘proposal’ provided by ECT, would have been missing one thing...construction costing for a plant in India; Fozards movement to chairman and YES Bank /GW partnership all happening in November; the culling of 20 to 8 EPC contractors and Capability studies carried out in December, with those last EPCs out to market for pricing from late January; as per the last update...

That to me suggests that they received positive feed back on their proposal and they jumped into overdrive, as the works carried out , to me at least, over the last few months November to now, IMO has been very aggressive.

There is another article worth reading

“Without identifying the foreign coal assets, on the grounds of nondisclosure pacts, the official said that all the proposals were from Indonesia, Australia, Mozambique and the US.

While one asset would be identified by November and negotiations initiated immediately, NLC’s target was to secure three overseas assets to supply around 10-million tonnes a year within one year, the official said”


Funny enough all hands seemed to be on deck in ECT from November 2013

"nondisclosure pacts" / Confidentiality statement...oh think ive had a year to long of those hey


http://www.miningweekly.com/article/indias-nlc-to-zero-in-on-foreign-coal-asset-by-november-2013-09-18

As always, all IMO

OW