wall street journal, page-18

Similar way I see it. As a foreign company, it is must easier with less approvals for LCY to go a acquire projects in Australia than NMDC. They said it clearly in the MOU, if all go well, we will see a new LCY with cash to acquire bulk resource of iron ore and coking coal (NMDC prefers for their steel plants). The market probably weighing risk between 10c (no NMDC deal, business as normal) and potential (with many ifs and rumors, media leaks) 19c worth with NMDC deal. Within 4 weeks, LCY should provide the evaluation to seek shareholders approval. We will then have a better direction where the share price will move. NMDC and LCY management definitely discussed about the likely unofficial price during MOU otherwise LCY wouldn't waste time.