Don't worry too much about it nzak - their debt funding is more than their market cap. as long as they can pay for their 25%, plus the costs with getting it into production, the deal is the same.. obviously from the NMDC side it dodges the need for FIRB approval (i think??) and makes the red tape easier/less.
lets concentrate on getting the deal done (at the right price).. $20m+ fair, $30m+ good and over $38m would be fantastic (and very unlikely imo).
hopefully not too long to wait now!
mak / lcy , page-6
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