I don't see why NMDC would bypass LCY for future acquisitions because (correct me if I’m wrong) FIRB would restrict them to only 50% for a period of time where with LCY they could acquire 100% immediately.
As for the share price that imo is certainly due to mismanagement (words not backed up by action) but also partly due to iron ore price and going out of favour with investors.
What went on behind closed doors with Heng we will probably never know. The one thing that really bugged me with her was her unwillingness to show her face on the website, that always left me with doubts about her. Will things improve with the change in management? Time will tell and they must do what they say or give a very good reason why they couldn't.
End of the day Mt Bevan is a very high quality resource that will not need the same amount of energy as others to process it due to the soft nature of the mineralization.
How much capex will be required, where it will come from and how it will be built is yet unknown but now is the time to do it while the big boys are smashing the price down.
