Ann: FNN Interview with CEO, page-103

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26/06/17

08:52

Post #: 25482885
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Originally posted by Nanday ↑

Buying a higher percentage ore to mix with their own is good management in order to fulfil an order, and I fail to understand why the downrampers are using this as an excuse to trash the company.

I read the transcript of the interview, CG confirmed that IFO is a middleman who arranges the purchases for different end users. This is what I suggested when a previous post implied they were some kind of sham company because they couldn't find anything except a registered office address for them. IFO is going to bring them purchase orders of different percentage strength and at different price points. Some posters are fixated on the point that they need to have the highest possible percentage and they don't yet have this, but to run a business, you need to be able to supply what the customer wants. NSL has shown that they can do this by thinking outside the box and bringing in a higher concentrate to mix with what they are currently producing.
It is crucial that NSL and IFO have a solid and trusting relationship. IFO's reputation hinges on their chosen suppliers providing the product as specified on time and on price and with the end customer being happy. If NSL continues to do this, the orders will continue to roll in.

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Yes, IFO are commodity traders between the primary producer and the end user. Having flirted with this a number of years ago it is a very specialised field that requires expert knowledge and client trust to be successful and IFO have very and I mean very good operating model to make money. They are running on low costs and margins for arbitrage.

NSL Price at posting: 2.8¢ Sentiment: Hold Disclosure: Held
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