haw as of monday april 15, page-6

alquimista -

it is a complete misconception that LCY is a $4Bn company - in fact it will not be too long at their cash burn rate before it has little operating funds and will have to go to the market via a CR for further funding.

NMDC on the other hand are said to have $4Bn in funds - but you need to know that NMDC is in fact the National Mineral Development Corporation of India. It is a wholly owned department of the Indian government, a completely foreign entity.

further, LCY does NOT have access to NMDC's alleged $4Bn funds unless NMDC decides to open its purse strings and it will not be GIVING any money to LCY merely loaning it to them (in some form) like it would any other entity which came begging to it. The $200m NMDC were supposed to be making available to LCY ages ago has simply never materialised - so the way I see it, LCY will not be any better off than HAW for funds sometime in the not too distant future.

LCY is a beggar at NMDC's doorstep - simple as that.