Ann: Commercial Purchase Order Received, page-250

I've done my own research and agree with much of what is said here so no need for a rehash of the positives.
I will add this thou.
1/ CEO and a director buying sizeable number of shares is always a good sign
2/No debt courtesy of Resources First is highly unusual for a specky.(2.5 mln converted @ 3.8 should see them support SP at that level)
3/Only Australian Co' to be involved in India Steel/Iron Ore. India is the next China.
4/ Massive support on chart at recent lows of 3.2/3.4. If it retreats there would add substantially.

OK to keep it balanced here are my concerns.

1/ Way too many in this for pips yet lying when they claim it's their LT investment.
2/Birmanie is suing them for damages to the tune of $2.5 mln. NSL barely mentioned this in their last Q report.
3/ They have $3.2 mln in the bank but they are forecasting next Q will see a cash burn rate of $2.1 mln. Doesn't exactly leave much in the kitty but hopefully this new order will see bigger cash inflows.

To summarise I will buy at 4-4.1 cents today as this latest order seems to be ignored by the mkt which is nonsense . If it retreats to the huge support line of 3.2/3.4 on no news would then buy significant amounts.

Best of British!