Hello Rocket,
Please do not interpret this as an afront as I do not want to argue on the internet. I will give you the benefit of the doubt and put some explanation to my comment. The full stop in the selected excerpt you posted is rather important. please re-read the entire post and lets continue a cordial conversation.
What I stated was that I agree the future is zinc as you did. I think it is a great commodity right now and Aravalli has great potential to be mined. We can agree on this it seems.
I put a caveat on my statement of ownership with question marks at the beginning and end of the statement within the sentence as the Indian legal system is not my forte and at one stage there were multiple legal claims on that tenure. I did not want to make a definitive statement. I felt I did this, but it appears to have been misinterpreted. I have read IRL ASX announcements for years and have been sometimes staggered by what was left out from time to time (fixed price copper delivery for instance from Surda) so you should give me the benefit of the doubt for being cautious.
The solvency part is legitimate. Froim my understanding there is still no production at Surda and cashflow therefore for ongoing administration etc is going to be crucial. They are at the limits of their current credit facility. My intent in my post was to highlight the great potential value of the asset they are involved with at Aravalli but the risks of the companies current situation.
Best of luck with this one and I hope IRL end up with Aravalli. I watch it like many others as there is great leverage here due to the low E/V of the company currently. It just comes down to my risk appetite. Its currently too risky for me, but you have a clearer view of the legal/solvency situation than i do.
IRL Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
