HI jnj,
You are right..Getting the licenses is the key primary trigger. There is a lot of optimism on that account, that something will comethru by the year end. Next stage is financing the mining process during these market conditions. IPO process is tough to go thru. Private Equity is still active and apparently larger global mining companies are interested in expanding their reserves thru acquisitions/mergers. Globally mining output is dropping and proven reserves are getting depleted without fresh deposits getting discovered.
One other challenge is our government's import restrictions on sophisticated mining equipments, which are charged with 100% customs. If FDI participation in high risk,capital intensive sectors are to be allowed, it only makes sense to do away with customs duties on equipments. lets hope for better policy measures.
Mining industry is facing some qualified manpower challenges - senior geologists. Luckily the promoter's ( Mark Creasy) presence and few other former GSI officials presence is some relief from that perspective.
There are challenges at each stage.
Is there any follow up from the mgmt about their intention to do a major financial tie-up with a global major?
You are right..Getting the licenses is the key primary trigger. There is a lot of optimism on that account, that something will comethru by the year end. Next stage is financing the mining process during these market conditions. IPO process is tough to go thru. Private Equity is still active and apparently larger global mining companies are interested in expanding their reserves thru acquisitions/mergers. Globally mining output is dropping and proven reserves are getting depleted without fresh deposits getting discovered.
One other challenge is our government's import restrictions on sophisticated mining equipments, which are charged with 100% customs. If FDI participation in high risk,capital intensive sectors are to be allowed, it only makes sense to do away with customs duties on equipments. lets hope for better policy measures.
Mining industry is facing some qualified manpower challenges - senior geologists. Luckily the promoter's ( Mark Creasy) presence and few other former GSI officials presence is some relief from that perspective.
There are challenges at each stage.
Is there any follow up from the mgmt about their intention to do a major financial tie-up with a global major?
