do your job: igc management, ppr -david tasker, page-5

IGCer's,

I'm sure the deal will be done eventually but if you look at recent NKP announcements you will notice that NKP has now split their BFS in two. Which means they are no longer in a hurry for IGC's stake as the stage 2 BFS (which includes IGC's stake) is now not due for completion until December 2010.

My guess (and it is a guess) is that a the purchase will happen Q1/Q2 next year once NKP has signed the JV on stage one with Xstrata. It will be easier for NKP to raise the funds as their sp will have recovered.

I agree - it would be good if the market were kept more informed instead of the vague announcements we have seen since the option expired.