The three announcments that came out yesterday were interesting for the following reasons.
1. Substantial shareholder selling
The same thing happened a month before, I don't see this as significant because it was released prior to market, If they wanted out we would have seen higher numbers and ann at end of day. It seems to me he needed food money as we all do.
2. JV unconditional
I guess I was hopeing for several pieces of information to be ann on permits, land acquisition, confirmation of resourse etc, but I think it is only a timing issue and all the information will come out over time.
3. Half year results
The company provides bio/dental products, and is dabbling in Iron Ore, I guess that tells me there is no money in dental products but heaps in Iron Ore. As the co transforms its new identity and spins off the dental products, we will see an Iron Ore Company evolve.
The current share price based on the information at market is undervalued in my opinion and I think we will see movement to 5c on Monday and an increase up to 15c upon next ann in two weeks.
IMO as always
NSL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
