6 cent target, page-257

Yes, I tend to agree that there's still a strong chance of testing 6 cents this year.

There's still three weeks left in 2016. Imagine if we got one of these three announcements each week (possibly in a different order though):

15/12 - First high grade 60-62% grade output and purchase order received from BMM
22/12 - Additional plant/s ordered using options money received
29/12 - Feasibility study on pellet plant and potential update on steel mill JV

Even 10 cents could be possible if management wanted to really pump the share price while options are being converted.

There are a lot of traders that have made a bit of dough these past few weeks in super speculative stocks like GPP, GMC, IOT, etc. that are looking for quality and value to park the profits over the summer. Some of that money may have started flowing through to NSL this afternoon and IMO should continue to.