indian ore prices set to rise, page-44

blahblah1

i think NSL have about $3m in the the bank and just recently raised $3.5m ...plus in the next month or two ,IMO,will be raising another $7m.

NSL have just executed an off-take agreement with a chinese customer, pre-selling first 200,000 tonnes of iron ore. 200t x lets assume heavily discounted price of not less then $60t (current price FOB $104t)cost $33t left with 27t x 200t which equals $5.4m profit.

the off-take agreement is that NSL will commence shipment of ore in January 2010, with the final shipment to be supplied by the end of May 2010.

NSL has secured agreement for the shipments to be pre-paid under a letter of credit. so they can commence to mine and sell the ore before completing the payments which are due in march 2010