Ann: Commercial Purchase Order Received, page-128

nothing wrong with some comparisons, its all healthy, especially when as far as I'm concerned NSL is the clear winner.

In regards to BGS, trust me I'd much rather have NSL than BGS, and I'm a BGS holder. In regards to BGS's value thus far it's been given an NPV of circa $240+m that's about 5-6 times the current MC which shows great value if this can be brought to mine, but it's down in the dumps atm after management tried to flog this $240m+ asset off for a measly $107m and didn't even do proper due diligence on the bidder and knocked back MM from bringing in other bids from MOU companies because they were that desperate, all because they wanted a quick buck and have no mining experience on board. Anyway, getting to the comparison, one of the criteria's was risk, and we are talking about Africa v's India here, not to mention distance to port(BGS aren't going to be selling Li locally that's for sure) etc, etc. BGS is along way off profits, doesn't have a plant let alone a PFS, and 2 of the directors look like getting the boot after shareholders saw through the BS, needless to say BGS is a looooong way off a plant, production, PO's, profit, and sentiment is at an all time low along with liquidity, the SP has not moved in about a year that's pretty much says how confident the market is right now.

Hand's down NSL is the winner on established plant, PO's, growth, profit forecasts, sovereign risk, liquidity, confidence in management(don't under estimate this one),,,,and the list goes on

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