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Grug57

394 Posts.

21

19/07/17

08:26

Post #: 25945890
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Originally posted by Timtator ↑

I don't think that's correct. I think it was poorly worded.

They have approximately 4000t of 60/61% Fe stockpiled. They have been producing different grades, as we are all aware, in their ramping up and tuning of the plant.

They are running 3 shifts, of presumably 8 hours. That's 24 hours operations for a plant capacity of 200ktpa, when originally using low grade feed.

IFO have delivered over 10,000 tonnes of 50% feed, which will not just be sitting there.

Whether yesterdays uninformative announcement was arrogance or just plain ignorance, their total stockpiled ore couldn't possibly only be 4000 tonnes, a weeks worth of full operation.

I don't blame anyone for reading it that way, but it simply can't be reality and I think that once again management have taken shareholders for granted in terms of communication.

Waldo, it says a lot about you that you're sticking the boot in while people are losing money.

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I agree with that. If that was not the case, management are obligated by law to imform the market otherwise.

NSL Price at posting: 2.1¢ Sentiment: Buy Disclosure: Held
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