Ann: Recommencement of Surda Expansion Project, page-8

I shall posit an opposing view

IF and ONLY IF RCF or other investor backing (read: project equity stake) that avoids shareholder dilution occurs in the next 6 months, drilling will occur and may unleash a huge JORC with major scope to upgrade multiple times over.

I feel confident that MOU will be signed by 31 December 2015. The Rajasthan Goverment and Ministerial officials may well use IRL as the poster boy for Mining FDI, the rest is up to Arvind/IRL

Vedanta are dirty cheats, so why would we immediately believe what they say?
...it's probably a PR ploy!! Remember, Vedanta has huge piles of debt to manage (although they do generate lots of free cash flows)
see: http://forbesindia.com/article/special/the-debt-trap-for-indian-businesses/41205/1

If the drilling results are anywhere near as good as are expected to be, it would be foolish to accept a takeover bid if it does not value reflect its NPV (discounting for development/production risk) - which would be based on the outcome of the bankable feasibility study.

However, if funding is not forthcoming ,then IRL may struggle to hold onto Aravalli and either HZL/Vendanta will snatch it for free, or maybe offer a nominal sum.

I am backing (hoping!) for an IRL miracle...we all deserve it.

THE CLOCK IS TICKING...

Arvind, the shareholders are counting on you to unleash the gigantic value of Aravalli,