ECT have, ‘concluded that NMDC will not be continuing and having formally withdrawn the offer to extend the MOU, ECT and NLCIL are now able to explore partnerships with other interested parties.’
Trading of shares in ECT has been halted since Wednesday, pending the outcome of a meeting with an Indian mineral producer. Before the trading halt, ECT's share price was trading up to 1.3 cents per share, with a one-year return of 30%. Its current market cap currently sits at $62.41 million.
The latest news out of the company is that it has finalised its project bond proposal, so that it can deliver on its obligations under the Research Collaboration Agreement for its India project.