I truly doubt whether India Resources will ever develop the...

I truly doubt whether India Resources will ever develop the Lead/Zinc mine in the Aravallis. You only need to look at the survey of the IRL Part A Aravalli ML application to understand why IRL will never get the opportunity to develop the mine.
WHY???
If Hindustan Zinc don't manage to snatch the entire area back in their latest Revision Application currently pending before the Ministry of Mines and IRL is given the MOU in November as announced in the latest Quarterly, HZL will launch a takeover bid.  When drill rigs start appearing on site it'll be the catalyst for a T/O bid, you can be sure that Tom Albanese CEO of Vendata Resources will not let this huge Lead/Zinc deposit which completely surrounds their existing mine Sindesar Khurd and abuts the entire northern section of the HZL Rajpura Dariba mine.
It is only a matter of time and depends on how HZL plans to do the takeover.
IRL management will have a hard job convincing shareholders not to accept the T/O bid.