indian belly, page-50

Hi (Jovann)

Trying to protect unwitting people from being caught out by traders,shareholders who have no idea about iron ore projects,but keep pumping the tenements and announcements as if it was another FMG.

Each tenement is only just over 6 hectares in size.Total just over 12 hectares.

Started off being high grade iron ore,with lower grade being in the high 50,s %Fe.A bit lower at the last count I believe.

A lot of hype but no substance at present being about 10 months behind for first delivery.
Have they recorded a JORC resource figure yet?
What happened to the 24 hour turn around with drill results?
Have they given accurate Fe figures with impurity levels?

Shareholders talk about spot price of iron ore.
Announcement looks like it will be around the $55 mark per tonne.
Still no announcement on how much iron ore is at the port stockpile yard.

I said long ago that the company they were working with did not have experience with iron ore.
Company has now realized that was the case.

I said there was no way they would get enough iron ore to port by trucks for the first delivery date.

Look at the cost of exploration over the last 6 to 12 months.Less spent on exploration then on wages and fees.

Jovann you were a great supporter of NSL.May I ask why you seem to have pulled the pin and left?

Regards
Westcott.