Magna were never planning to convert at 200%, blind freddy could have seen that one coming a mile off. But it was funny to read all the posts about how they were going to do so.
Anyway, the course of action they should have taken was to pay the money owing for the wet plant when the realized the phase one plant was a flop. Get it over and producing as soon as they could. The success of the options being converted and providing more working capitol rests on the production of the phase two wet plant. You would have to agree with that.
They are cutting a fine line to achieving this and going on past performance, there will be a lot of sorry option holders come the end of the year as NSL management have never been able to stick to a time line.
Regards The Tinhopper
NSL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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