ECT Q&A thread 23/7, page-266

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hawks2014

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26/07/19

13:40

Post #: 39709747
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Originally posted by JustIntonation: ↑

This all looks to me like there has been a growing chasm between NMDC's internal advocates for the India Project and the BOD over the course of the last few years. I believe at one point there was probably good alignment but with NMDC coming under adverse scrutiny from auditors and regulators and multiple projects (including most spectacularly their other, much larger, foray into iron/steel making) this internal rift has started to be apparent to the outside world. The BOD are either deadlocked on the merits or have simply decided to walk away from our comparatively small project - it may just be a matter of wanting to reduce their target surface area or maybe they genuinely believe there is meaningful risk reduction to be had. Whats happened the last few months is just incompetence and poor image control as they lurch from problem to problem. A more sophisticated company could have walked away in a controlled manner without burning bridges, leaving everyone looking fine and noses not too far out of joint (publicly at least) but NMDC's history seems to show that that are pretty inept at this stuff and this latest is just infantile and poorly considered deflection. They seem to be reacting to needling from the Indian media (and inflamatory tweets would not have helped) which to me shows a company way out of control and on the back foot.

I'm generally of the view that ECT should shut this down as quickly and quietly as possible though if NMDC have egregiously violated the agreements (which ECT have stuck to diligently, sometimes to their own embarrassment and cost) in some actionable manner maybe there is something to gain... Doubt it though - move on with as little muddy water as possible under the circumstances.

Just my intuitions reading the tea leaves - not based on much factual info at all so take it with a grain of salt.

GLTAH.

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Totally. What inflammatory tweets are
you talking about? GL.

ECT Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
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ECT Q&A thread 23/7, page-266

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ECT Q&A thread 23/7, page-266

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