Royalty speculation, page-18

My under standing was that once the signing of the RCA occurred that would set the precedent/trigger or proceed to financial closure:

"As we stand today, with NLC board approval in hand, we await the NMDC board approval after which our India project is poised to proceed through to ‘financial close’ upon signing of the detailed Research Collaboration Agreement (RCA).

Following ‘financial close’ our partners, NLCIL and NMDC will release funding in parallel with ECT providing the Project Bond and the project will commence, ushering in the transition from project development, to project execution."

The way I read it once financial closure is triggered then funds then are provided by NMDC and NLC as well as The bond money by ECT ( obviously they will need to plan how they are going to provide that ).

Cheers

M.oz.