Tripartite Agreement, page-151

According to the last update, the Directive regarding ‘foreign agencies’ has ‘added another layer of procedure for the parties to work through’ in addition to the ‘formal Indian Federal Government clearance processes.’ So one can deduct from this that:

If there is to be any significant delay in the signing of the Tripartite Agreement, it will be due to the definition of ‘foreign agency’ applying to ECT, it will NOT be due to the other formal procedures that need to be worked through. So the emphasis is on the relevance of the Directive and NOT the usual clearance processes that under Modi have become far more efficient.
Therefore, according to the last update, the only thing holding up the signing of a formal agreement between ECT, NLC and NMDC is the definition of ‘foreign agency’ and whether or not it applies to ECT. What!! Universities, Austrade, Government departments, research centres are agencies; ECT India is a subsidiary of an Australian public company, which in Indian law makes ECT India a ‘public’ company. Hello BSE! Many private and public companies have research divisions, as does ECT – that is ECT carries out research. But this does not make ECT an agency like the CSIRO.
That’s my reading of the text.

On the question of charts, I posted the bullish pennant followed by a bearish triangle to demonstrate the futility of the charts wrt ECT. Rather than drawing lines, join dots and one of the many many dots that puts the FA above the TA is that capital is expensive in India and so a low priced highly efficient technology like Coldry is a no brainer.

All in my opinion.