We are certainly due for some news regarding Aravalli LOI. I...

We are certainly due for some news regarding Aravalli LOI.

I will take this opportunity to update everyone in regards to potential news flow.

I had read that the Project Monitoring Group had a meeting in June to push through a few pending projects, Aravalli may have been on that list.

If so, I wouldn't be surprised to get an update prior to 30 September.

As far as IRL is concerned they must keep the pressure on the Indian Goverment for the grant of LOI.

Just as important is the project equity stake / funding issue. Once the LOI is granted funds must flow from prospective investors. This will be used for drilling and BFS. So, although the LOI is important the funding is equally as important.

I hope IRL management are reading this and working around the clock to secure funding!

Then working extra hard to defeat Vedantas revisionary application claims.

As well as resolving the tax dispite.

These 4 things must be resolved with certainty. The first two will create (potentially immense) shareholder value:

1. LOI
2. Funding
3. Revisionary application
4. Tax

Cheers