This is a big question for me also. Although it might simply be that JSW does not (did not) do this sort of early stage stuff. I don't know JSW well enough but, much like many of the big miners, it could simply have a strategy of letting others take the initial risk and only buying de-risked projects once they have reached a certain point.
It is a question though, and one I think about a lot given my experience with NCR a few years ago (feel free to look up that one!).
PDZ Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
