Ann: A$5M Loan Fully Funds Phase Two Wet Plant & Production, page-12

Hi all,

Reads well to me in this economic climate. Funds are to be available when certain milestones are reached, which is a great thing. It provides the incentive for NSL to get on with the job and make this long term venture finally happen.

Next announcement will be a purchase order for the phase one plant, i would imagine.

The options being granted to Magna, at 3c i have no problem with. When they are converted, this will provide more funds for internal growth.

Still has a lot of risk to it this one as it has for the last 5 years or so. Been in this for that long it seems like a lifetime of promises. But clear forward progress is being made, so i feel our pay day is close.

Regards all holders, The Tinhopper