Just had a 10 minute conversation with Faldi (NSL Director and largest shareholder). (with a South African accent too)
I think there is a possibility there will be a delay in the report being posted this week. Faldi’s words were, ‘unlikely’.
But everything looks good and on track. Faldi basically said that NSL don’t want to release news to the market for the sake of it. There would prefer to release good solid information. From what I gathered NSL has received something but would prefer AustInd’s input too.
Firstly, the Austind people are currently in London and in talks with potential funders. Austind CEO is Craig Duncombe and the main man is David Catsoulis, a geologist who has had over 140 trips to India. So he is very aware of India’s potential regarding Iron Ore.
NSL is privy to some additional technical data and want to go over this with AustInd on their return to Australia next week. Faldi expects the two to meet late next week.
Okay, in Faldi’s opinion, he is “quietly confident” in Austind’s ability to source up a nice potential Iron Ore resource.
NSL appears to be very pro-active in finding a significant Iron Ore resource to mine, and add to that NSL obtaining 25% of the project … plus currently no dilution to shares.
Overall, my feeling was that Faldi was very upbeat and quietly confident that the report will at least represent what has already been announced to the market, but thi time will meet ASIC’s requirements re: JORC Code.
Faldi was very informative and I would encourage anyone who has any questions to ring NSL on (08) 9486 2333 and ask for Faldi.
Looks the goods imo.
NSL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
