Ann: Successful appeal against Indian tax assessment, page-4

Hi Reggie

It says it's a "draft" assessment. Not sure what "draft" means but possibly IRL could show the legal precedents and rulings and the final assessment will be no tax payable.

Worst case would probably be an appeal but we have the legal precedent, so should all be a mere formality now.

The main thing is that the substantive tax issue is behind us for all intents and purposes and now IRL can go full force to secure funding.

Initial funding will be needed to:

1.
Drill a JORC resource

2.
Bankable Feasibility Study (of which JORC drilling will form a part)

3.
Secure MOU and LOI

4.
Ramp up expertise / top class talent


This is the next target.

Aravalli