The Pointy End, page-65

Nah...The deals done IMO - it's a matter of waiting for the "right deal". The Indian Government would lose enormous face if they pulled out now with AusIndustry, YES Bank, Thermax heavily involved. I suppose you think Glenn made up his meeting with Goyal and the "acceleration" comments. And Ashley must have rocks in his head outlying that last $30k.
Just focus on those 20℅ IRR figures as I'm certain the Indians are - including the competition Jindal Tata. My guess is NMDC/NLC will take another 10℅ shares ontop of the resolution 6 10℅. It's about 275m shares so why not have the Indian Government as our CSI with 19.9℅ which will then be diluted July with option expiry down to around 13℅. It would be the most constructive & productive 550m shares ECT could ever place. Institutional investors would love it. Remember ECT will have the 15℅ capacity refreshed at the AGM so they could easily allocate another 10℅ without an EGM. Win Win. Matmor-Coldry is an emerging Tech that will IMO rattle the cages of Tata, Jindal and so on and I don't believe they will wait until Matmor-Coldry is proven commercial. By then ESI could be worth a Billion or more. I'm expecting an Indian steelmaker to buy a stake on market well before the plant is finished being built. Call it insurance. Jindal could buy a 5% stake on market at around 7c. With options taken into account that would be around 250m shares with cost $18m which is nothing to Jindal. All IMO.