Will IRL be granted the MOU and LOI for the Aravalli project prior to the hearing and outcome of the new Revision Applications by HZL?
I think not. The hearing for the Revision Applications may not change the outcome but will tie up the Aravalli project for many more years and I'd suggest that is what HZL are aiming for. Possibly hoping IRL is bankrupt in the near future and unable to fund the project.
Aravalli, If what you say is correct then why should IRL be involved at all in the Tribunal case if its cut and dry as you suggest?
Why hasn't the MOU be issued already, its 12 months tomorrow since the administrative approval was given.
Hardly recent.
A prime example of how long the Revision Application process takes, you only need to look at IRL (Crown Mining) Revision Application for Sathudiya its status hasn't changed in 16 months. My web query was back in July 2015, but I've just checked and the status remains the same.
Aravalli, you might be kind enough to update us long suffering shareholders on the latest info on getting back the Sathudiya project since IRL management haven't updated this project for a long long time.
Aravalli, we all appreciate you input. Surely you must admit that its about time for some positive outcomes, too many years have passed with promises of projects and cashflow. Remember the Prism Cement saga, IRL didn't even get paid for that fiasco.
Another year has passed full of disappointments, will 2016 be any better?
IRL Price at posting:
0.4¢ Sentiment: Sell Disclosure: Held
