Fents, you say: 'The longer it takes for THE announcement, the...

Fents, you say: 'The longer it takes for THE announcement, the more you can be certain the more difficult it is becoming to reach a decision.'

IMO, if you look at the choice of words in the last announcement the company seems to be suggesting that 'a decision' has already been reached wrt to the terms of a Tripartite Agreement, while at the same time leaving themselves room for any potential setback.

The key to assessing the Directive’s applicability to the proposed tripartite agreement is the definition of the term ‘foreign agencies’. This is the focal point of clarification being sought by the parties, directly with relevant Indian Government ministries, and with support from Australia’s High Commission in India.

Propose: (1) to put forward (a plan or suggestion) for consideration by others. (2) make an offer of marriage to someone.

[Proposed in this context could mean (sense 1) for the Government's consideration; in the context of 'the parties' it appears (sense 2) that the courting phase of the relationship is over and that it's time to tie the knot; 'the parties' just need daddy's approval. There is a wonderful cultural irony in this 'marriage' wrt to Indian custom ... but I digress ...]

At present, the parties do not believe that this Directive applies to the tripartite agreement as ECT is not a ‘foreign agency’. It is believed that the term ‘foreign agency’ is intended to apply to what we in Australia would call a Government Agency or Government Enterprise, such as the various Government Departments or organisations authorised by legislation to carry out government functions or entities such as AusTrade or the CSIRO.

However, given the material nature of the tripartite agreement, all parties agreed to seek official confirmation, from an appropriate Federal Government representative, before executing the agreement.

Execute: (1) to put (a plan, order, or course of action) into effect. (2) carry out a sentence of death on (a legally condemned person).

If the Directive does apply, then the parties will have a defined pathway to obtain Federal Cabinet approval prior to signing and will pursue a contingent activity set on the way through, so as to minimise delays to the project.

If the Directive does not apply, then the parties intend to proceed to execute the tripartite agreement at the earliest mutual availability.

The company is being very careful, forensically meticulous, in writing this announcement in order to avoid any accusations of misleading the market should the deal not happen and/or leaking too much between the lines. But the language and its rhetoric, in my opinion, is weighted towards a very good (high) probability that the 'proposed' tripartite agreement is close to being 'executed' - in sense (1).

http://www.ectltd.com.au/asx-announcements/shareholder-update-india-activity-7/

ALL IMO ONLY DYOR.