drawingcircles,I can appreciate your frustration, but we must...

drawingcircles,
I can appreciate your frustration, but we must remember, everything is tanking it at present (except gold). The current SP weakness has everything to do with the blood-bath on markets generally (which needs no commentary from me). Verte (and those they were representing) screwed us around & to MAK's credit they wouldn't swallow it & instead walked away. They did so to protect and increase shareholder value, and yes incl their own holdings. In place of an MoU with a 2nd rate broker (Verte) we now have an MoU with a BIG prospective partner (NMDC) which is highly profitable, cashed up & 90% State-owned by a State that needs what we've got. Instead of selling half of the company (as was the plan with Verte) we will see the sale of 50% of Wonarah, greatly minimising the dilutionary effect on SH.

In relation to NMDC and your mention of "NMDC Executives under allegations filed in an anti-corruption report...". That deserved a greater explanation from you than what you gave. Knowledge is power & you were short on delivering useful info in your post. i submit the following on that subject:

NMDC appear to be involved in an argument at the moment along with 3 other companies in India, with allegations being made against the 4 companies by Karnataka State Lokayukta re over-mining & under-invoicing. It appears NMDC aren?t the main target & in any case are strongly denying the claim:

http://businesstoday.intoday.in/story/nmdc-on-defensive-after-karnataka-lokayuktas-report/1/17518.html

And from NMDC?s press releases on the issue:

http://nmdc.co.in/press-release/2011/Press%20Note.pdf

http://nmdc.co.in/press-release/2011/Press%20RElease%2029072011.final.pdf


The Supreme Court last Friday gave significant ground to NMDC (and them only) on a mining ban imposed in the Bellary region:

http://www.dnaindia.com/money/report_nmdc-allowed-to-mine-in-bellary-but-cant-export_1573018

NMDC?s share price has dropped as a result of all of this & hit a 1yr low on 29 July after being at a 1yr high in April. It was a 26% drop from the high of 304.90 to a low of 224.75 but has since recovered some of the ground to most recently close at 244.05:

http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=526371

Our share price can tank it (to a point) & I won?t stress unless something ends up derailing our JV. If the JV proceeds, then I believe our SP will recover, so long as farm economics don?t tank it & dramatically alter the sale of fert. Maybe QE3 will happen in the US & thereby prop up commod prices & grains with it ? who knows. The market is certainly not pretty at present, but hopefully we see our JV proceed and our exciting plans unfolded. As always DYOR.

Good luck to all.

Cheers