George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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They must be sitting on an accumulation of buy orders now, it was very difficult yesterday afternoon to buy any decent amount
Amazing news find. I will be doubling up my holding on the bell. Back up to 4 - 5p today now.
Topping up today on the bell. So people in the know knew the rule change in India would happen and have been filling their Boots since last Friday. Back to 4p today.
Huge news out of India today for Koovs! RBI to ease restrictions! fill your boots
https://twitter.com/Trebuchet_Kid/status/1196554166027636741
Could be good news. However the government May change the rules, so it's not guaranteed.
If the rules are changed, how long is soon? KOOVS only have 6 weeks left on life support.
This is the important part:
"without prior approval of RBI".
The funding will be done quickly once the legislation is changed, as approval by RBI will no longer be required.
This is the best news possible. It shows that KOOV/FLFL were genuine in their funding delay. The money will come soon as FLFL have stated they are committed to their investment in KOOV. Buyers will return when they see this.
Official sources said that the changes would soon be made in existing overseas direct investment (ODI) regulations to ease the restrictions and put such investments (FDI and ODI) under the automatic route (without prior approval of RBI)
So it looks like the RBI will not object to this route of funding!
We also have Blackstone funding FLFL to the tune of £190 million.
FLFL have no excuses now : )
HOT OFF THE PRESS, OUT OF INDIA TODAY
Massive news for Koovs where restrictions will now be eased & RBI approval will NOT be needed!!
https://www.thenewsminute.com/article/govt-may-ease-restrictions-fdi-joint-ventures-indian-companies-112484
In a bid to ease the flow of foreign funds into legitimate business activities, the government may soon ease restrictions on foreign direct investment (FDI) by joint ventures (JVs) or wholly-owned subsidiaries (WOS) of an Indian company without categorising such investments as "suspect" involving 'round tripping' of funds.
The existing legal framework under FEMA does not permit FDI by an overseas JV or WOS of an Indian party without the prior approval of RBI. Similarly, there are restrictions on Indian entities to undertake overseas direct investment (ODI) in a foreign entity which already has existing FDI investment structures in India.
Official sources said that the changes would soon be made in existing overseas direct investment (ODI) regulations to ease the restrictions and put such investments (FDI and ODI) under the automatic route (without prior approval of RBI).