India Project Bond Strategy - Live Q&A tonight from 7pm (AEST), page-5

Dear ECT_Rep

So here is the breakdown of all parties contributions which I am sure everyone is aware of.  But for my sake, i like to see it clearly so put that down in table.  and forgive me if i am asking any dumb or silly questions but i like to make sure I fully understand the whole process.

ECT Obligations

Bond AUD $3.5 Million

Equity-Backed Guarantee - EBG to be established via 350 million fully paid shares to intermediary

Question 1:
Bond is required to be established before signing of EPC contracts.  Not sure i understand this clearly.  I thought bond is required before the signing of RCA agreement?

Question 2:
Ann says "... finalise the tender development program, leading to selection of an EPC contractor and the signing of contracts, ..."
What is targeted for the period between July and September this year? Does that mean EPC contract won't be signed until that period?  i am confused



OPEX AUD $2.45 Million

Question 1:
How soon do shareholders expect to get an update for this working capital strategy.

Overall Timeline

Question 1:
Looking at timeline especially for March 2019, there seem quite a bit of tasks to achieve before financial close end of March. 

Formation of PCC - Project Control CommitteeEstablishment of Project Management Team, Project bank accounts, Approved project budget
What is the certainty or confidence level that they will be achieved in the set time frame.  Looking back the past, history speaks of delay after delay even for one simple confirmation.

ELF

Question 1:
Refer to Ann on 5/2/2019, any update on the program incentivisation of ELF loan payment?

NMDC

Question 1:
Ann says "Company understands that "frozen" document will be put to the Board of NMDC for approval at it's meeting".
When do we expect it to be approved?