The AUD$550,000 payment is just the tip of the iceberg when...

The AUD$550,000 payment is just the tip of the iceberg when compared to what IRL is owed. It's just petty cash for HCL.
The Supreme Court case is the one to watch out for.
HCL won't be happy if IRL wins the big one.

The story by Proactive Investors is incorrect in their statement "it is well leveraged to increased copper prices"
Unfortunately IRL is on a fixed price contract, however the terms are starting to improve after IRL winning the arbitration settlement. HCL can no longer claim
item 1.Liquidated Damages (Fixation of Production Targets and imposition of Liquidated Damages imposed by HCL for the years 2008-09 and 2009-10.)
item 3.Illegal and Arbitrary deduction made by HCL (Non-compliance of Tax Deducted at Source (TDS) provisions by HCL)


INDIA RESOURCES
www.indiaresources.com.au/

India Resources (ASX: IRL) is a minerals developer, with a strategic focus on unlocking the mineral wealth of India.


India Resources bags $550k from arbitration settlement
Thursday, March 13, 2014 by Proactive Investors

India Resources has bagged $550k from arbitration settlement.

India Resources (ASX: IRL) has received $0.55 million from Hindustan Copper, as payment for an Arbitration Award made in favour of IRL in September 2013.

IRL is a junior copper producer, and has been posting strong sales from its Surda mine in India.

Copper sales hit a new record for the September 2013 quarter, with 1,089 tonnes of copper metal-in-concentrate; the previous record was 1,055 tonnes of metal-in-concentrate, set during the June 2013 quarter.

During the December quarter, production stabilised at 1,014 tonnes of copper metal-in-concentrate, although mine production was restricted by the early achievement of a 4 million tonne limit of transported ore under a "consent to operate” permit.

The uptrend and consolidation of copper production and sales is impressive for the $3 million company, and it is well leveraged to increased copper prices.

IRL is also conducting mine expansion work of shaft sinking and allied mine development, in order to further expand production.

The company controls several exploration projects in India, prospective for copper, base metals, iron ore and diamonds.