write up in paper, page-20

Yea we only have half the story at this stage. Lets do some numbers. I read on this site that Roger Mongomery stuck his neck out and placed an intrinsic value of $2.16 for NST. The share placement adds 50 million to 375mill bringing the total to around 425million on a fully diluted basis. This means 13.3% more shares. Assuming worst case and NST blows the $45million ie no future cashflow then I presume Roger's valuation would fall by 13.3% to somewhere around $1.90 per share. Of course Bill has something up his sleeve and I expect that the $45million cash injection will generate a future cash flow in excess of the 13.3% share dilution. Whether it is purchasing reserves in trucking distance from Paulsens etc etc or a new acquistion the return on equity from the increased cashflow no doubt will far outweigh the dilution. In one of my previous post my gut feel is the $45mill will be catalyst of turning NST from a 200,000oz pa company as planned today in their 2 stage project to perhaps a 300,000oz+ pa company etc. Depending on where they acquire their assets they may even get economies of scale hence get their earnings growth partially from reducing costs. If my mathematics are correct I presume if they get more then a 13.3% growth in earnings for the company from the use of funds raised in this CR then the net value of NST will increase. There is no doubt this will occur if Bill's past record continues. Tomorrow will be a big day !!!! unless the TH is extended !!! Go NST