I've spent the last 3hrs re-reading all NSL announcements, old financials, old stock market forums, going back years and really digging deep and I truly believe the company are at the start of a progressive couple of years. Yes there have been delays, yes the SP has tanked, but every man and his dog can see the company has made steps forward during this time. I never like to post without posting a few facts, and I'm always happy to be corrected, but my takeouts are:
- nameplate capacity hit late last year
- nameplate = 200,000tpa
- 200,000tpa = 16,000tpm
- 3 customers
- BMM, JSW + Minera
- BMM 4,000t order delivery to commence "within days" of announcement
- JSW 5,000t ordered and paid for. Delivery commenced (confirmed in announcement 30/11/17)
- Minera 5,000t order
- = 14,000t a month
- = we are selling 14,000t of our 16,000t capacity
Now factor in:
- Minera want 15,000t per month from us
- which coupled with BMM and JSW will be 288,000tpa once we have added the bolt on expansion to increase our capacity to 400,000tpa
- We are fully funded for said expansion following $5m investment from FS
- Xinhai currently on the ground doing due diligence and planning /designing this expansion
Yes it's been a long, hard slog but the cogs are turning and the company is heading in the right direction. I feel the quarterly next week might pleaseantly surprise a few people and I also think the next 6 months will be an exciting time as we begin construction of the expansion
A few other positives to consider:
- Board members have significant skin in the game
- We have an excellent relationship with the local government
- As evidenced by yesterday's announcement of the tax refund and being handed land for expansion
- The likelihood of a favourable court ruling (when will that be BTW?)
This company is becoming more and more derisked by the day! I topped up this week as I am fairly confident this is where the bags wills be made
All IMHO
DYOR
I've done lots of my own
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