Member Info for Professor1

As I posted the extract from one of the judgements some while back, the Rajasthan Govt wants 51% control of the project. This MB will not give due to the confidence in achieving the result in our favour.

"In addition to working with Fasken, IGPL has used this period to select several leading investment treaty law and mining industry advisors and experts to assist in the arbitration. The increased Facility ensures that IGPL has the necessary resources to fully - and successfully - prosecute the merits of its claims under the Treaty."

Ejt7777, absolutely in my view.

MB has always leaned towards an amicable agreement and I believe will continue to do so until the next hearing. There is every likelihood of an agreement before then. If the Rajasthan Gove continues to frustrate our right beyond that point then I think the Notice will be served to them.

Indeed F1Driver

The Rajasthan Govt gets only 2 WEEKS to make their minds up and discuss at an Indian Govt level. Will the Indian Govt clip Rajasthan Govt ears? - We will surely know after the 9th.

The utmost priority was to secure the LCM funding - WITH A NEW CLAUSE inserted regarding an earlier agreement with the Govt of Rajasthan.

It is a huge risk for the Rajasthan govt to take in the international tribunal. Will the Rajasthan State be allowed to effectively take India to International Court? Faskans are very confident of a positive result.

What we will see now, I believe, is that now that the funding is in place, there will be a round of talks taking place between the parties - there is a whole team of advisers behind PAT in preparation for this.

Huge news this is.

Firstly, huge thanks to Mark for a great achievement, hard work and perseverance.

Quick read through as in a rush. Market value of compensation will be in the order of $2 Billion in my view.

Very sad day for the Indian government and will be talked about all over the world in the industry.

Faskens are very very confident about this for a successful outcome.

Industry experts to advise.

A massive rerate to come here in the share price.

Catch up soon Mark.

The bilateral agreement is crystal clear and the compensation clause is drafted for this very reason

Kitrash

I disagree with you. MB has all along said that he would try and reach an amicable agreement with the govt - this seems the likely reason for holding back of the case to the tribunal. Once the case is lodged then there is no turning back for the govt. When an award is made at the tribunal, the govt cannot run away from their obligation to pay - you have govt assets around the world which could be seized.

All looking very good indeed. I wonder if the delay is actually caused by the JV Side of things as this can sometimes cause a lot of delay - remember this has to be announced at the same time as any agreement with the Govt.

It will come, just need patience

Good luck to everyone. Much needed rerate coming soon.

Indeed, can't wait for MB to fire shots

Mickey, POSSIBLE 40p for a starter if Cascades comes out at over 1M ounces

DC66

This ties in nicely with what MB said - add two zeros to the share price on a deal achieved- I believe he said it when the share price was 10p or 12p

GLA

Since we have been messed around for over 10 years or so, MB has had enough and has made an excellent move - forcing the govt of Rajasthan to enter into an amicable agreement OR face the damage, both financial and more significantly reputational. My money is firmly on the former.

As per MB, potential JV is to be announced in tandem with any agreement reached with the govt - at which point can you imagine the scramble for shares!!!!!

Indication of a deal with the govt became evident when the funding agreement was being amended

Somehow, I feel we would want to maintain control 50.1% so that the JV partner can progress unhindered.

Is the delay due to the possible partnership agreement holding everything up?

Talking and giving the govt more time

If not then a sign they are talking