Ann: Notice of Annual General Meeting/Proxy Form-NSL.AX, page-51

They will raise because they will mate, do you honestly think the section in the last announcement does not point to raising.
Not saying it is bad just saying it is highly likely, who puts the below in that announcement and not raise.
They are telling the market they are going to do it in a roundabout way, the only thing they are not saying is by how much are they going to dilute.
The volume and sp rise says that the big boys have made cash and now they will use that cash to facilitate the below, just a wild guess on my part

	Column 1	Column 2	Column 3	Column 4	Column 5
0	Placement Capacity. Number of Shares on Issue (Variable ‘A’ in ASX Listing Rule 7.1A2)	Dilution
1	Issue Price (per Share)	$0.0165 50% decrease in Issue Price	$0.033 Issue Price	$0.0495 50% increase in Issue Price
2	1,631,535,049 (Current Variable A)	Shares issued - 10% voting dilution	163,153,505 Shares	163,153,505 Shares	163,153,505 Shares
3	Funds raised	$2,692,032	$5,384,066	$8,076,098
4	2,447,302,574 (50% increase in Variable A)	Shares issued - 10% voting dilution	244,730,257 Shares	244,730,257 Shares	244,730,257 Shares
5	Funds raised	$4,038,049	$8,076,098	$12,114,148
6	3,263,070,098 (100% increase in Variable A)	Shares issued - 10% voting dilution	326,307,010 Shares	326,307,010 Shares	326,307,010 Shares
7	Funds raised	$5,384,066	$10,768,131	$16,152,197