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Someone not long ago told me these kinds of sources are about as reliable as Wikipedia, so I don't actually think this has been pending the whole time anyway, but I did check it for the sake of checking it and have noticed it has finally changed to final approval pending.
It's weight to me is about a pinch of salt at this stage, but none the less it's something positive out of the current void of news. No news is typically good news though when companies have an obligation to inform shareholders of material changes, of which it would appear none have occurred and NSL is still well and truly on track for 24 hour production this month.
Don't get me wrong, I would love to know what is going on with the purchase order, have they visited? Did they not want it in the end? Do they want to pay a lower amount than we could get from competitors? All questions I'm sure we all want answers to, but since they are yet to answer them, we can only speculate until they are in a position to answer them.
Given that they are on track, have signed this new deal with the EPC company which to me seems like an excellent move and have been advertising various roles, from shift manager to data entry operator, I would say we can safely assume that when we do finally hear news about sales, it will be something positive. Otherwise they would be foolish to spend any more money at this point and would be legally obligated to inform shareholders if something was wrong.
Phase one still sits in the back of peoples minds. It doesn't sit in the back of mine. The product clearly wasn't of high enough grade to garner interest, especially with BMM Ispat shutting down then kilns due to low prices. Iron ore prices were all over the shop, of which we as investors had little to no visibility of and could only speculate. One thing is for sure in my mind about the difference between then and now, is that we didn't have the relationships that we have now acquired. We didn't have the interest from the Chinese.
We now have Dan on site working incredibly hard alongside Sean. We have our experienced man that moved over from BMM Ispat, Chief GM Beneficiation Mr Srinivasu Panchada, further showing the future relationship we will likely have with BMM Ispat and likely adding an enormous amount of knowledge. We have a higher represented TDP government keen on getting AP moving along towards top state in India by 2029. We have Mr Jock Muir to now add to our board experience. We are debt free. We have no further planned dilution. We have employees on the ground working hard.
This is not another Phase one. The only similarity is we are yet to hear about delivery or payment. That's where the comparison ends and will likely stop being comparable soon enough. This may be considered a pilot plant of sorts, but this is still the beginning of a bright future for the company, one that many of us are lucky to be apart of and will likely look back at as a defining investment in our lives.
We've all been very patient, some more than others, but if making money through stocks was easy, everyone who ever invested would be rich. Patience is all you can turn to when you know that the company you have invested in are working hard to make your investment worthwhile. I truly believe they are working hard and our patience is going to be greatly rewarded.
