Ann: Binding Agreement for Joint Development of Greenfield Steel-NSL.AX, page-60

I have more options than heads. I am looking forward to Heads sp up to around 4 cents. Then I will exercise my options. I get the feeling that as we get closer to the dec16 expiry we will be well in the money and others will exercise as well. Does anyone know how much that will bring into the coffers for NSL if all options were exercised. Surely it would be significant. I am a bit disappointed that as normal a great ann comes out from NSL and it is sold into. A some point shortly that will not be an option. The phase 2 plant will start cranking and the PO's will start flowing. I would expect that by the time they have a steel mill up and running we may have three or four phase 2 plants operating. (just putting that last bit out there). GLTAH.