Ann: Shareholder Update - India Project, page-51

Perhaps the purpose of the announcement is exactly what it states, an update of where we are currently at in India.

Interesting that GF is over there with JB, perhaps this is so any further minor adjustments to the RCA can be done on the spot.

Perhaps the purpose of the ECT extraordinary board meeting is so ECT can submit the frozen RCA to NMDC prior to their board meeting, already signed by ECT.

If this does in fact happen after the 1st of March, people can’t complain about missing out on the 30% discount on their ELF loans.

So if things go well the RCA is completed and frozen, ECT sign the RCA and submit it to NMDC where they consider and sign at their board meeting on a date soon to be advised.

Then the RCA gets taken over to NLCIL for the final signatures, with a couple of weeks remaining to organize financial close by the 31st March.